Introduction 1
Chapter 1 Why CPA? 5
What Is CPA? 5
Five Reasons to Become a CPA 6
Five More Reasons to Become a CPA for International Candidates 9
What Are You Waiting For? 12
Chapter 2 What Is the CPA Exam? 13
Exam Coverage 13
Exam Schedule and Location 15
Exam Qualifications 16
Exam?]Taking Strategy 18
Exam Design and Navigation 20
After the Exam 22
Chapter 3 How to Get Qualified 25
An Overview 25
The Educational Requirements 26
The Experience Requirements 33
Citizenship and Residency Requirements 36
Taking Advantage of the Differences 37
Taking the Exam at International Sites: The Pros and Cons 47
CPA Exam Qualification Quiz 48
Final Thoughts 50
Chapter 4 Getting Ready 51
Budgeting 51
Submitting the Application 53
Scheduling the Exam 55
Travel and Accommodation 57
What to Bring on Exam Day 59
What to Expect at the Prometric Center 61
What to Expect after the Exam 63
Are You Ready? 63
Chapter 5 Creating a Study Plan 65
But I Can't Afford to Plan. I Am So Busy! 65
Step 1: Aim to Complete the Exam within One Year 66
Step 2: Settle on the Sequence 66
Step 3: Estimate the Time Required for Study 67
Step 4: Plan to Complete Each Section in One Quarter 69
Step 5: Write It Down! 72
Chapter 6 How to Become More Efficient and Effective 73
Create 25 Hours in a Day 73
Transform Your Stress into Strength 78
Let's Move On! 83
Chapter 7 Study Tips and Exam-Taking Strategies 85
Study Tips 85
Exam-Taking Strategies 95
Chapter 8 How to Overcome the Fear of Task-Based Simulations 99
Study Tips 100
Exam-Taking Strategies 101
Chapter 9 How to Ace the Written Communication Tasks 105
What Are the Examiners Looking For? 105
Seven Tips for Writing Success 106
Seven Steps to Creating a Great Piece of Business Writing 108
Chapter 10 Audit and Attestation (AUD) 113
What Does AUD Cover? 113
Pass Rate History and Trend 114
Study Tips 115
Exam?]Taking Strategies 117
Presenting the Outline 118
Module 1: Professional Responsibilities 118
Module 2: Engagement Planning and Assessing Risks 119
Module 3: Understanding Internal Control and Assessing Control Risk 121
Module 4: Responding to Risk Assessment 124
Module 5: Reporting 126
Module 6: Accounting and Review Services 127
Module 7: Audit Sampling 129
Module 8: Auditing with Technology 130
Reader's Sharing 130
Chapter 11 Financial Accounting and Reporting (FAR) 133
What Does FAR Cover? 133
Passing Rate History and Trend 134
Study and Exam?]Taking Tips 134
Presenting the Outline 136
Module 9: Basic Theory and Financial Reporting 136
Module 10: Inventory 138
Module 11: Fixed Assets 140
Module 12: Monetary Current Assets and Current Liabilities 142
Module 13: Present Value 143
Module 14: Deferred Taxes 145
Module 15: Stockholders' Equity 146
Module 16: Investments 148
Module 17: Statement of Cash Flows 150
Module 18: Business Combinations and Consolidations 151
Module 19: Derivative Instruments and Hedging Activities 153
Module 20: Miscellaneous 154
Module 21: Government (State and Local) Accounting 155
Module 22: Not?]for?]Profit Accounting 157
Readers' Sharing 158
Chapter 12 Regulation (REG) 161
What Does REG Cover? 161
Passing Rate History and Trend 162
Study and Exam?]Taking Tips 162
Presenting the Outline 163
Module 23: Professional and Legal Responsibilities 163
Module 24: Federal Securities Acts 166
Module 25: Business Structure 168
Module 26: Contracts 169
Module 27: Sales 171
Module 28: Commercial Paper 172
Module 29: Secured Transactions 174
Module 30: Bankruptcy 176
Module 31: Debtor?]Creditor Relationships 178
Module 32: Agency 180
Module 33: Regulation of Business Employment, Environment, and Antitrust 181
Module 34: Property 184
Module 35: Individual Taxation 185
Module 36: Transactions in Property 188
Module 37: Partnership Taxation 189
Module 38: Corporate Taxation 191
Module 39: Other Taxation Topics 191
Reader's Sharing 192
Chapter 13 Business Environment and Concepts (BEC) 193
Passing Rate History and Trend 193
Study and Exam?]Taking Tips 194
Presenting the Outline 196
Module 40: Corporate Governance, Internal Control, and Enterprise Risk Management 196
Module 41: Information Technology 198
Module 42: Economics, Strategy, and Globalization 200
Module 43: Financial Risk Management and Capital Budgeting 202
Module 44: Financial Management 204
Module 45: Performance Measures 205
Module 46: Cost Measurement 206
Module 47: Planning, Control, and Analysis 208
Reader's Sharing 211
Chapter 14 What If I Fail? 213
Perform a Self?]Evaluation 213
Review the Diagnostic Report 216
Recharge and Get Back the Momentum 216
The CPA Exam Is Not Rocket Science 217
Chapter 15 Final Words 219
Appendix A Countdown Plans 221
Appendix B Packing for the Exam Trip 223
Glossary 225
Acknowledgments 229
About the Author 231
Index 233
