Footnote article: The Route to Passing the Exam.

If the CPA Exam is in your future, the MNCPA has published a great article (link above) in this month’s Footnote that you will want to check out.  You should be especially aware that the exam is undergoing major changes in terms of content and delivery in January 2011.

Starting Jan. 1, 2011, the CPA Exam will undergo significant changes. The current CPA exam integrates global business concepts in all four sections. After Jan. 1, 2011, International Financial Reporting Standards (IFRS) will be tested on the exam, primarily in the FAR section. International auditing standards (IAS) will be tested primarily in the AUD section. Global business concepts will continue to be tested in all four sections. Many of your staffaccountants will be facing CPA exam questions on this content without ever completing formal study of IFRS or IAS. Most colleges are just now offering a stand-alone IFRS course or are integrating IFRS with their existing classes to some extent. CPA review providers will be especially useful in providing exam candidates with appropriate study materials that will ensure that they are prepared with the right knowledge on exam day.

In addition, the new CPA Exam will test operations management in the BEC section of the exam. Candidates will need to have an entry-level knowledge of performance management, cost measurement methods and techniques, process management, and project management. As with IFRS, many candidates will not have formally studied operations management.

At the end of the article the MNCPA offers other links about the exam including significant review course discounts to members (consider an inexpensive Student Membership to take advantage of these).