The 2017 CPA Exam goes into effect on April 1, 2017, and will not only feature the most sweeping content changes in more than a decade, but will also have a revised testing structure with the addition of a fifth testlet to each section.
More Task-Based Simulations
As we’ve previously noted , the 2017 CPA Exam will mark the exam’s shift toward a much heavier focus on high-order skills, namely cognitive analysis, evaluation and application of concepts. To make this shift happen, the AICPA is adding an additional testlet to each section to accommodate more Task-Based Simulations.
Here’s a quick overview of the new exam structure (click to enlarge):
Exam Time Stretches To 4 Hours, 30 Minutes
The total time for each exam section is stretching to four hours with 15 minutes allocated to administrative screening and a 15-minute break.
Here’s how it breaks out, according to the AICPA (click to enlarge):
Where Did These Changes Come From?
The AICPA created the updated 2o17 version of the CPA Exam via a comprehensive two-year Practice Analysis, which identified the critical knowledge and skills required of new CPAs.
The new exam format is the outcome of this review and has been set to accommodate the dramatic shifts in content and focus on the new CPA Exam. If you’re sitting for any section of the CPA Exam this year, you won’t see these changes–but you will if you sit for a section following the switchover on April 1, 2017.
What It Means For CPA Candidates
While we’ve always encouraged our students to avoid memorization and focus on real-world application of public accounting concepts, these CPA Exam changes essentially require it.
CPA candidates will need to dramatically alter their study habits to focus less on memorization and question drills and more on the application of concepts on real-world examples and problems.
Wiley Has Your Back
The latest Wiley CPAexcel CPA Review Course is designed from the ground-up to help you do just that with built-in diagnostic assessments to help you gauge exactly how well prepared you are for the new CPA Exam.