CPA (USA) – Certified Public Accountant

Course details

Stands for Certified Public Accountant  - A certification awarded by AICPA (American Institute of Certified Public Accountants Trusted financial advisor who helps individuals, businesses, and other organizations plan and reach their financial goals

Course of Study

• Part-I: BEC (Business Environment & Concepts)
• Part-II : AUD (Auditing & Attestations)
• Part-III: FAR (Financial Accounting & Reporting)
• Part-IV : REG (Regulations & Taxation)

Course Contents - BEC (Business Environment & Concepts)
This section covers knowledge of general business environment and business concepts that candidates need to know in order to understand the underlying business reasons for and accounting implications of business transactions, and the skills needed to apply that knowledge.

• Corporate Governance
• Microeconomics, Macroeconomics, Globalization
• Financial Risk Management, Forecasting Analysis
• Corporate Capital Structure                      
• Working Capital
• Short-Term Financing and Capital Budgeting and Corporate Performance
• IT Roles, Systems, and Processing, IT Software and Data Organization, IT Networks and
• Electronic Commerce, IT Security                        
• Strategic Planning and Budgeting Concepts, Budgeting
• Quality Considerations and Benchmarking, Responsibility Accounting and Other Topics
• Costing Fundamentals, Costing Systems and Variances               

Course Contents - AUD (Auditing & Attestations)
This section covers knowledge of auditing procedures, generally accepted auditing standards and other standards related to attest engagements, and the skills needed to apply that knowledge.

• Engagement Responsibilities.
• Professional Responsibilities, Risk Assessment, Strategic Planning Issues          
• Internal Control Concepts and Information Technology, Internal Control --Sales-Receivables-Cash Receipts Cycle, Internal Control --Purchases, Payroll, and Other Cycles
• Responses to Assessed Risks, Internal Control Communications and Repo        
• Evidence --Objectives and Nature, Evidence --The Sales-Receivables-Cash Cycle, Evidence --The Purchases-Payables-Inventory Cycle         
• Evidence --Other Assets, Liabilities, and Equities, Evidence --Key Considerations, Evidence --Sampling             
• Reports --Opinions and Disclaimers, Reports --Other Modifications, Review, Compilation, and Special Reports
• Related Reporting Topics, Governmental Audits            

Course Contents - FAR (Financial Accounting & Reporting)
This section covers knowledge of generally accepted accounting principles for business enterprises, not-for-profit organizations, and governmental entities, and the skills needed to apply that knowledge.

• The Financial Reporting Environment, Financial Statements   
•  Income Statement Items, Financial Statement Disclosure        
•  Cash and Investments, Receivables      
•  Inventories, Property, Plant, Equipment, and Depletable Resources   
•  Intangible Assets and Other Capitalization Issues, Payables and Taxes
•  Employee Benefits, Noncurrent Liabilities       
•  Leases and Contingencies, Equity                          
•  Business Combinations and Consolidated Financial Reporting, Derivatives, Hedging
•  Governmental Accounting, Governmental Reporting                  
•  Not-for-Profit Concepts, Not-for-Profit Accounting and Reporting      

Course Contents - REG (Regulation & Taxation)
This section covers knowledge of federal taxation, ethics, professional and legal responsibilities, and business law, and the skills needed to apply that knowledge.

• Ethics and Professional Responsibilities, CPAs and the Law                      
•   Agency, Contracts        
•  Sales and Secured Transactions, Negotiable Instruments and Related Topics
•  Debtor-Creditor Relationships, Regulation and Certain Business Entities          
•  Corporations, Federal Tax Legislation, Procedures, and Planning          
•  Gross Income, Deductions        
• Tax Computations, Property Transactions        
•  Corporate Taxable Income, Corporate Tax Computations         
•  Corporate Tax Special Topics, S Corporations 
•  Partnerships and Exempt Organizations, Estates, Trusts, and Wealth Transfer Taxes                 

Updated on 01 December, 2020