Steven老师给参加CPA考试考生的几点建议(1)

USCPA Exam – your short-run race

Overall Hints

I experienced CPAA, CGA, ACCA and CIMA examination systems at my various life-long learning plan, I realize that overall USCPA examination system is quite reasonable and fair. A major difference between American and British exam system is the examination format: that is American likes to test candidate based on MC questions on computer; British exam prefers paper-based essay-type questions which test candidate’s writing skills.

One of the USCPA exam writers said that USCPA exam is just like a short-run racing while British accounting exam such as ACCA or CIMA is another long-run tournament. I could not agree with it no more.
Image that you have only 4 papers to complete within 18 months, you have to learn fast against the ticking-clock and stick to your study plan consistently as Becker CPA Review study schedule guides. In ACCA or CIMA exam, you have 10 years to take the 14 papers, lots of time to study at own peace while working.

Once you have mind up your mind taking USCPA exam, you are ready to a short-run tournament. First thing to do is to choose a good textbook. Becker CPA review is the best seller of its kind so far: it is brief and sharp to the points, which is good for candidates with good understanding of accounting, taxation and auditing; Wiley CPA is also popular for many Asian candidates: it is economical and have detailed explanation followed by progressive examples.

You may consider taking CPA training course if you are too busy and do not know how to start with. Always look around and compare with others, or go for a free lesson first and decide it.
There are so many different students who have talked about the USCPA examinations tips. I do not want to repeat what others have said, but I would like to summarize hot topics. I gathered it from students who recently take the exams.

REG
Contract laws, sales of goods, trust, federal security acts and ethics take up 40%; another 60% goes to taxation including individual tax return 1040, corporate tax return 1120, partnership return 1065, S corporation. Hot topics for task-base short questions include
1.    Form 1040 and Schedule C;
2.    Form 1040 and Schedule A;
3.    Schedule F, EF and MARCS
4.    Corporate formation and capital contribution
5.    Corporate distribution and dividend allocation
6.    Capital gain tax S1231, S1245, S1250
7.    Like-kind exchange
8.    S corporation formation and distribution
9.    Partnership return and K1 distribution

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