July Is Almost Here – CPA Exam Changes You Need to Know

july-2018-cpa-exam-changes-blog

With the recent rollout of a new interface for the CPA Exam, you can look forward to a great exam experience in July 2018. Wiley CPAexcel is changing as well to keep you fully prepared. Here’s a quick overview of what’s new and notable in your review course. 

Here’s a Quick Overview of the July 2018 CPA Exam Content Updates

BEC Exam Changes

BEC Blueprint changes resulted from standard-setting, revisions to add more detail, and editorial updates to clarify and provide consistency in the Blueprint. Such AICPA Blueprint revisions are to reflect the updated COSO ERM framework, which was eligible for testing as of April 2, 2018.

Watch this short video from BEC instructor, Dr. Dan Stone, about how Wiley CPAexcel has been updated to prepare you for the updated COSO ERM framework section of the exam.

AUD Exam Changes

Beginning July 1, 2018, you can expect to be tested on the following new pronouncements:

  • AICPA Statement on Auditing Standards (SAS) 133, Auditor Involvement with Exempt Offering Documents
  • PCAOB Auditing Standards (AS) 3101, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion

REG Exam Changes

  • Annual tax changes (not including the Tax Cuts and Jobs Act)

Should You Sit for REG Now or Later?

Top of mind for test-takers who are yet to sit for REG is how the Tax Cuts and Jobs Act (TCJA) will affect the test. The TCJA is not eligible for testing until January 1, 2019. Given this, we provide a brand-new lesson that not only walks through the changes, but also helps you determine whether to take the test before January 1, 2019, or take it after the new tax law is eligible for testing.

Watch this short video  from REG instructor, Dr. Greg Carnes, about the best time to take the REG section of the CPA Exam (hint: before the end of the year) and how Wiley CPAexcel has been updated to prepare you through the end of 2018.

Exam-like Experience

Wiley CPAexcel now provides an exam-like experience with software that aligns with the new, redesigned CPA Exam. With this release, we have new, updated videos, more questions, more flashcards, and more lesson assessments. And with Bite-Sized Lessons to succinctly and clearly explain complex concepts, Wiley CPAexcel remains the most complete and comprehensive CPA review program on the market.

How Do You Get the Online Updates?

If you have a test date of July 1, 2018, or later in your Wiley CPAexcel Exam Planner, simply accept the content update prompt when you launch your course and the updated content will be loaded in your course.

You can double check your test date by following the steps below.

1. From your course dashboard, scroll down to “Exam Plan” and select “Edit My Exam Plan.”
2. Verify your “start” and “finish” dates or select the calendar icon to change your dates. Your “finish” date must occur on or after July 1, 2018, to load the content updates. Finish dates before July 1, 2018, will retain the current content.
3. Select “Preview” to confirm your plan and “Looks Good, Let’s Get Started” to save your plan and load the new content in your course.
4. Start studying!

The progress you have accumulated in your course will be preserved with this update. However, please be aware that you may experience small fluctuations in your scores due to content changes in the lessons.

We’re with You Until You Pass

As your Partner Until You Pass, your Wiley CPAexcel course has no expiration date—use it until one year after you pass the exam. Course repeats, online content updates, and software upgrades are free.

For a refresher on how to use your Wiley CPAexcel courseware, visit our Product Tour & Tutorials resource page. At any time, you are welcome to contact us with questions.

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