CPA Exam Preparation Guide
CPA Exam Preparation Guide
The CPA exam is a professional certification test required to become a licensed Certified Public Accountant in the United States. Passing it validates your expertise in accounting principles, tax regulations, auditing standards, and business concepts, opening doors to advanced career opportunities in public accounting, corporate finance, or consulting. This guide provides online accounting students with actionable strategies to prepare effectively while balancing remote learning or work commitments.
You’ll learn how the exam is structured across four sections: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, and Regulation. Each section tests different skill sets through multiple-choice questions, task-based simulations, and written responses. The guide breaks down study plans, recommended resources, and time management techniques suited for digital learners who need flexibility. It also addresses common challenges like retaining complex material and applying theoretical knowledge to practical scenarios.
For online accounting students, preparing for the CPA exam requires a disciplined approach distinct from traditional classroom learning. Self-paced study demands clear priorities, efficient use of digital tools, and familiarity with computer-based testing formats. This resource explains how to create a realistic study schedule, select high-quality review materials, and practice under exam-like conditions—all critical for building confidence.
Earning a CPA license strengthens your credibility in competitive accounting roles and often leads to higher earning potential. Whether you aim to work in public practice, corporate finance, or government agencies, passing the exam demonstrates mastery of skills directly applicable to real-world financial analysis, compliance, and decision-making. This guide focuses on aligning your preparation with the demands of modern accounting careers, ensuring you’re equipped to succeed both on the exam and in professional practice.
Understanding CPA Exam Eligibility Requirements
To qualify for the CPA Exam, you must meet specific educational requirements set by your state board. These rules vary significantly across jurisdictions, making it critical to verify your state’s exact criteria before applying. Below is a breakdown of key components that determine eligibility.
Minimum Education Standards: 120-150 Semester Credit Rules
Most states require 120 semester credits to sit for the CPA Exam and 150 semester credits to obtain licensure. However, some states allow you to take the exam at the 120-credit mark, while others mandate 150 credits upfront.
- 120-credit states: You can apply for the exam after completing a bachelor’s degree (typically 120 credits). Licensure requires 150 credits, which often means earning a master’s degree or additional coursework.
- 150-credit states: You must complete all 150 credits before applying to sit for the exam. These states treat the credit total as a single requirement rather than a two-step process.
Online accounting programs are widely accepted if accredited by agencies like AACSB or ACBSP. Check whether your state allows credits from community colleges, CLEP exams, or non-accounting courses to count toward the total.
Accounting Course Requirements: 24-30 Credit Hour Benchmarks
Beyond total credits, states require specific accounting coursework. Most mandate 24-30 semester credits in accounting subjects, with variations in topic depth and upper-level course requirements.
- Core accounting topics: Financial accounting, auditing, taxation, and management/cost accounting are universally required.
- Upper-level courses: At least half of your accounting credits must be upper-division (junior-, senior-, or graduate-level). Introductory courses often don’t qualify.
- Business-related credits: Many states require 24-30 additional credits in business subjects like finance, economics, or business law.
Online programs must clearly distinguish upper-level courses in their transcripts. For example, a “Intermediate Accounting III” course may count toward advanced requirements, while “Introduction to Bookkeeping” might not.
State Variations: Ohio vs New Jersey Case Studies
State-specific rules dramatically impact eligibility. Compare Ohio and New Jersey as examples:
Ohio Requirements
- Total credits: 150 semester hours required to sit for the exam.
- Accounting credits: 30 semester hours, including 24 upper-level credits. Must include auditing, financial accounting, taxation, and management accounting.
- Business credits: 24 semester hours in subjects like business ethics, finance, or statistics.
New Jersey Requirements
- Total credits: 120 semester hours to sit for the exam; 150 required for licensure.
- Accounting credits: 24 semester hours, with at least 18 upper-level. Taxation and auditing are mandatory.
- Business credits: 24 semester hours, including 6 credits in business law.
Key differences:
- Ohio requires more accounting credits upfront (30 vs 24).
- New Jersey lets you test earlier but delays licensure until you complete 150 credits.
- Both states mandate auditing and taxation courses, but Ohio specifies management accounting.
Action Steps
- Confirm your state’s credit hour thresholds (120 vs 150) for exam eligibility.
- Map your completed accounting courses to your state’s subject requirements.
- Identify gaps in upper-level accounting or business credits.
- Verify whether your online program’s course numbering aligns with your state’s “upper-level” definitions.
State boards often provide worksheets or pre-evaluation services to help assess eligibility. Use these tools early to avoid delays in your exam application.
Building an Effective Study Schedule
A structured study schedule is critical for passing the CPA Exam. This section provides concrete strategies to organize your time, balance commitments, and measure progress.
Time Allocation Strategies for Four Exam Sections
Start by calculating your total available study time before your exam date. Most candidates need 300-400 hours total across all four sections. Divide this into weekly blocks based on your exam timeline.
- AUD (Auditing and Attestation): Allocate 20-25% of total study time. Focus on audit procedures, reports, and compliance standards.
- BEC (Business Environment and Concepts): Dedicate 15-20% of study hours. Prioritize corporate governance, financial management, and IT concepts.
- FAR (Financial Accounting and Reporting): Reserve 30-35% of time. This section covers the most material, including GAAP standards and financial statements.
- REG (Regulation): Assign 25-30% to tax procedures, ethics, and business law.
Adjust these percentages based on your existing knowledge. For example, if you work in tax accounting, reduce REG time slightly to allocate more to weaker areas. Use shorter, focused study sessions (60-90 minutes) for dense topics like FAR, and save longer blocks for practice tests.
Balancing Study with Work: Weekly Planning Templates
A fixed weekly schedule prevents burnout and ensures consistent progress. Follow these steps:
- Block non-negotiable work hours in your calendar.
- Assign study sessions to remaining time slots, aiming for 15-20 hours weekly.
- Use a 6-day study week to leave one full day for rest.
Sample Weekly Template:
- Monday-Friday: 6:00-7:30 AM (Review new material)
- Tuesday/Thursday: 7:00-9:00 PM (Practice MCQs)
- Saturday: 9:00 AM-12:00 PM (Full-length practice test)
- Sunday: No studying
Protect your study blocks by treating them like work meetings. Use digital calendars with reminders to stay accountable. If your job involves irregular hours, create a rotating schedule that designates specific days for each exam section.
Progress Tracking Methods and Milestone Setting
Track daily and weekly metrics to identify gaps early.
Daily Tracking:
- Log hours studied
- Note topics completed
- Record MCQ accuracy rates
Weekly Milestones:
- Complete 1-2 chapters of study material
- Achieve 80%+ on MCQ sets for a topic before moving forward
- Simulate one exam section under timed conditions
Use a spreadsheet or app to visualize progress. Set three key milestones before your exam date:
- First Milestone: Finish all content review 6 weeks before the exam
- Second Milestone: Score 75%+ on two full practice exams 3 weeks before
- Third Milestone: Final review of weak areas 1 week prior
If you miss a milestone, revise your schedule immediately. Add 5-10 extra hours weekly or postpone the exam if necessary. Avoid cramming by maintaining a steady pace—covering 5-10 pages of material daily is more effective than 50 pages once a week.
Reevaluate your plan every two weeks. Reduce time spent on mastered topics (e.g., journal entries) and reallocate it to challenging areas (e.g., government accounting). Adjustments keep your schedule aligned with actual performance rather than initial assumptions.
Focus on actionable metrics, not just hours logged. Prioritize tasks that directly improve exam readiness: answering MCQs, practicing task-based simulations, and reviewing AICPA content outlines.
Core Exam Section Breakdowns and Strategies
This section breaks down the three core CPA exam sections most relevant to online accounting professionals. You’ll get a clear view of content areas, high-priority topics, and actionable strategies to manage each exam’s structure effectively.
Audit and Attestation (AUD) Content Areas
The AUD exam tests your ability to evaluate audit processes, ethics, and reporting standards. Four areas make up 95% of the exam:
- Ethics and professional responsibilities (15–25%): Focus on AICPA codes, independence rules, and auditor obligations.
- Assessing risk and developing plans (25–35%): Learn to identify material misstatements, analyze entity environments, and design audit responses.
- Performing procedures and obtaining evidence (30–40%): Master sampling methods, substantive testing, and internal control evaluation.
- Reporting and communication (10–20%): Understand audit opinions, review engagements, and compilation reports.
Key strategies:
- Practice audit simulations that require adjusting entries or identifying control weaknesses.
- Memorize the exact wording for unmodified, qualified, and adverse opinions.
- Use flowcharts to map audit processes like risk assessment or evidence collection.
Financial Accounting and Reporting (FAR) Key Topics
FAR covers GAAP standards, financial statements, and transaction analysis. Prioritize these four areas:
- Financial statement preparation (25–35%): Balance sheets, income statements, and cash flow statements.
- Specific transactions (30–40%): Leases, pensions, revenue recognition, and deferred taxes.
- Government accounting (5–15%): Fund accounting basics and government-wide financials.
- Nonprofit accounting (5–15%): Contributions, grants, and net asset classifications.
Key strategies:
- Focus on high-weight topics like bond amortization and lease accounting first.
- Create flashcards for GAAP vs. IFRS differences (e.g., LIFO inventory valuation).
- Drill journal entries for complex transactions like mergers or foreign currency adjustments.
- Use spaced repetition to memorize formulas for EPS calculations or pension obligations.
Taxation and Regulation Testable Subjects
This section combines federal taxation, business law, and ethics. Allocate study time based on these weights:
- Individual taxation (15–25%): Filing statuses, deductions, credits, and capital gains.
- Entity taxation (25–35%): Partnerships, S corporations, and C corporations.
- Property transactions (5–15%): Basis calculation, like-kind exchanges, and depreciation recapture.
- Ethics and business law (10–20%): Contract law, debtor-creditor rules, and tax preparer penalties.
Key strategies:
- Master basis calculations for stocks, real estate, and inherited assets.
- Practice completing Form 1040 schedules and Form 1120 for corporations.
- Memorize tax thresholds (e.g., standard deduction amounts, capital gains rates).
- Apply tax concepts to scenarios involving multiple entities or multi-year transactions.
Final Tips for All Sections:
- For AUD and Taxation, prioritize MCQs on ethics—they’re frequent and often straightforward.
- In FAR, allocate 40% of study time to consolidations and derivatives if working in corporate accounting.
- Simulate exam conditions by using a timer for MCQ sets (e.g., 18 questions in 30 minutes).
- Review AICPA blueprints to identify subtopics added in recent years, such as cybersecurity risks in AUD or crypto asset reporting in Taxation.
Adjust your study plan every two weeks based on practice exam scores. Target weak areas with focused drills, not passive rereading.
Digital Tools for Exam Preparation
Effective CPA exam preparation requires strategic use of technology. Digital tools streamline studying, provide realistic practice environments, and connect you with support systems. This section breaks down three critical categories: CPA review platforms, mobile apps, and online communities.
CPA Review Platforms: Becker and Competitor Features
CPA review platforms form the core of most candidates’ study plans. These systems combine structured coursework with adaptive practice tools to match the exam’s format and content.
Becker’s CPA Review offers a complete package:
- Video lectures led by instructors who clarify complex accounting concepts
- Simulated exams that mirror the AICPA’s test interface and time constraints
- SkillMaster videos demonstrating how to solve task-based simulations
- A progress tracker that identifies weak areas using performance analytics
Competitor platforms differentiate themselves through alternative approaches:
- One provider uses bite-sized video lessons under 15 minutes for focused learning
- Another emphasizes AI-driven practice tests that adjust question difficulty based on your answers
- Several include unlimited access until you pass, removing time pressure
Key features to compare across platforms:
- Adaptive learning technology that prioritizes topics needing improvement
- Mobile compatibility for studying across devices
- Updated content reflecting recent CPA exam changes
- Price structures, including installment plans or money-back guarantees
Mobile Apps for Practice Questions and Flashcards
Mobile apps let you study during downtime without carrying physical materials. Look for apps that sync with your primary review platform to maintain progress consistency.
Question bank apps typically offer:
- 1,000+ multiple-choice questions categorized by CPA exam section
- Instant answer explanations with references to official literature
- Custom quizzes based on specific topics or difficulty levels
- Offline access for areas with limited connectivity
Flashcard apps help reinforce key terms and formulas:
- Prebuilt decks aligned with AICPA blueprints
- Spaced repetition algorithms that optimize review frequency
- Audio functionality for auditory learners
- User-generated content options to create personalized cards
Exam simulator apps focus on test-day readiness:
- Timed practice sessions matching each exam section’s length
- Interface replicating the actual test’s layout and tools
- Score predictors based on historical pass rates
Online Community Forums and Peer Support Networks
Studying for the CPA exam can feel isolating, especially in online formats. Peer networks provide motivation, clarify doubts, and share tested strategies.
Dedicated CPA forums allow you to:
- Ask specific questions about exam topics and receive crowd-sourced answers
- Download user-created study templates for calculations or mnemonics
- Discuss updates to testing policies or content weightings
- Read firsthand accounts of recent test-takers’ experiences
Social media groups offer real-time interaction:
- Live Q&A sessions with instructors or past candidates
- Accountability partnerships for shared study schedules
- Quick polls about study resource effectiveness
Virtual study groups organize collaborative learning:
- Weekly Zoom sessions to review practice test results
- Document-sharing hubs for comparing notes
- Role-playing exercises for auditing simulations
When engaging with online communities:
- Verify information against official AICPA materials to avoid outdated advice
- Set boundaries to prevent discussions from becoming time-wasting distractions
- Use pseudonyms if sharing personal progress data publicly
Most platforms and apps offer free trials—test multiple options to find tools that align with your learning style before committing. Prioritize systems that integrate across devices, update content regularly, and provide measurable performance feedback. Consistent use of these digital resources significantly increases efficiency in covering the exam’s four sections while balancing work or other commitments.
Exam Day Procedures and Performance Tactics
Proper preparation for exam day directly impacts your ability to perform under testing conditions. This section provides concrete steps to manage logistics, optimize time use during the test, and leverage results for future attempts.
Required Documentation and System Checks
Bring two forms of identification to the test center. Both must show your name exactly as it appears on your CPA exam application, with one being government-issued and photo-bearing. Acceptable options include a passport, driver’s license, or national ID card.
If testing remotely:
- Confirm your computer meets all technical requirements at least three days before the exam
- Run a system test using the software provided by your exam portal
- Clear your workspace of prohibited items (phones, notes, secondary monitors)
- Use a wired internet connection to minimize connectivity risks
For in-person testing:
- Arrive 30 minutes early to complete check-in procedures
- Store personal items in designated lockers before entering the testing room
Both formats require your Notice to Schedule (NTS). Print a physical copy even for remote exams—some proctors request it for verification.
Time Management During Computerized Testing
The CPA exam uses a tiered structure with four sections, each containing multiple testlets. Allocate time based on question type weight:
- Multiple-Choice Questions (MCQs): Spend 60-70% of total section time
- Task-Based Simulations (TBS): Reserve 25-35%
- Written Communication: Dedicate 5-10%
Use the on-screen timer to track progress. Example: For a 4-hour section with 72 MCQs and 8 TBS:
- Target 1.5 minutes per MCQ (72 questions = 108 minutes)
- Allow 30 minutes per TBS (8 tasks = 240 minutes)
- Adjust as needed, but never exceed these maximums
Execute a triage strategy:
- Answer all questions you know immediately
- Flag uncertain items and return after completing the testlet
- Guess on any unanswered questions before time expires—there’s no penalty for incorrect answers
For simulations, prioritize completing required fields over perfection. Partial credit applies if some components are correct.
Post-Exam Score Analysis and Next Steps
Scores release on predetermined dates—typically 10-20 days after testing. Use this waiting period to:
- Restart study routines for other exam sections
- Document recalled exam topics for future review
If you pass:
- Confirm credit receipt with your state board
- Begin preparing for your next section within two weeks
If you need to retake:
- Request a score review if your result is near the passing threshold (74-75)
- Compare failed section performance against the AICPA blueprint percentages
- Double study time for areas where your score fell below 50%
- Reschedule the retake within 45 days while content remains fresh
All candidates should:
- Update study materials annually to reflect changing tax laws or accounting standards
- Complete CPE credits required for licensure during score waiting periods
- Schedule consecutive exam sections within 6-month windows to maintain content overlap
Focus on systematic improvement rather than single-exam outcomes. Track your section pass rates, average question time, and simulation accuracy rates to identify patterns across attempts. Adjust study methods based on quantifiable data, not generalized assumptions about difficulty.
Key Takeaways
Here's what you need to know about CPA exam prep:
- Check your state's specific credit requirements immediately (most need 150 total post-exam, with varying accounting course rules)
- Prioritize digital review platforms - users report 30% faster study progress compared to traditional methods
- Target weak areas first, given all exam sections have 45-55% pass rates historically
Next steps: Verify your state board’s exact education requirements today, then select a digital study program matching your learning style.