|
Section Name |
Section Time |
Section Format |
Section Description |
| AUD - Core |
Auditing and Attestation |
4 hours |
»78 Multiple-Choice Questions
» 7 Task-based Simulations. |
This section tests the knowledge and skills that nlCPAs must demonstrate when
performing the following engagements: audit; attestation; and accounting and
review service, while focusing on planning, risk assessment, performing
procedures, obtaining evidence and reporting on these engagement types.
Data and technology - Data structured and flows through systems,
completeness and accuracy of data using data analytic techniques to assist in
risk assessment. Applied research will be assessed on reviewing and using
excerpts of source material (e.g. auditing standards, attestation standards, and
accounting and review services standards). |
| FAR - Core |
Financial Accounting and Reporting |
4 hours |
» 50 Multiple-Choice Questions
» 7 Task-based Simulations. |
This section tests the knowledge and skills that nlCPAs must demonstrate in the
financial accounting and reporting frameworks used by for-profit (public and
nonpublic) and not-for-profit entities, and includes standards and/or
regulations issued by the FASB, US SEC and the AICPA, including preparation
and review of financial statements, account balances and transactions. Data
and technology - Verify the completeness and accuracy of source data used in
the preparation of financial statements, supporting schedules and account
balances. Applied research will be assessed on reviewing and using excerpts of
source materials (e.g. FASB Accounting Standards Codification). Foundational
concepts related to the accounting requirements for state and local
governments (GASB) will also be assessed. |
| REG - Core |
Taxation and
Regulation |
4 hours |
» 72 Multiple-Choice Questions.
» 8 Task-based Simulations. |
This section tests the knowledge and skills that nlCPAs must demonstrate with respect to US ethics and professional responsibilities related to tax practice; US business law; US federal tax compliance for individuals and entities with a focus on recurring and routine transactions and preparation and review of tax returns. Data and technology - Verify the completeness and accuracy of source data and the outputs of automated validation checks for potential errors or anomalies. Applied research will focus on reviewing and using excerpts of source materials (e.g. Internal Revenue Code and Treasury Regulations). |
BAR - Discipline |
Business Analysis and Reporting |
4 hours |
» 50 Multiple-Choice Questions.
» 7 Task-based Simulations. |
This section tests the knowledge and skills that nlCPAs must demonstrate with respect to financial statements and analysis of financial information related to budgets and forecasts; using the technical accounting and reporting requirements of the FASB, US SEC and GASB. Data and technology - verify the completeness and accuracy of source data related to budgets and forecasts and derive the impact of actual and proposed transactions and events; determine the methods to transform data to be useful for decision-making; structure, formats and sources of data to prepare financial statements; and use outputs to explain , identify and detect discrepancies. Applied research will focus on source materials (e.g. FASB and GASB). |
ISC - Discipline |
Information Systems and Controls |
4 hours |
» 82 Multiple-Choice Questions.
» 6 Task-based simulations. |
This section tests the knowledge and skills that nlCPAs must demonstrate with respect to information systems, including processing integrity, availability, security, confidentiality and privacy and the risks that the entity is intending to mitigate through the use of those controls. This section tests the knowledge and skills that nlCPAs must deminstrate with respect to data management, including data collection, storage and usage. It includes SOC1 and SOC2 engagements. Applied research will focus on using source materials (e.g. standards, regulations, frameworks) to complete a range of tasks. |
TCP - Discipline |
Tax Compliance and Planning |
4 hours |
» 68 Multiple-Choice Questions.
» 7 task-based simulations. |
This section tests the knowledge and skills that nlCPAs must demonstrate with respect to US federal tax compliance for individuals and entities, focusing on nonroutine and higher complexity transactions; US federal tax planning for individuals and entities and personal financial planning, including federal tax planning, determining tax implications, tax alternatives or business structures. Personal financial planning focuses on planning strategies and opportunities usually identified in connections with the preparation and review of individual tax returns. Data and technology - verify the accuracy and completeness of source data to prepare returns and supporting schedules. Applied research will focus on reviewing and using exceerpts of source materials (e.g. Internal Revenue Code and Treasury Regulations) to complete a range of tasks. |
