By: Ken Tysiac
After considering public comment, the AICPA Board of Examiners is reviewing plans to have the Uniform CPA Examination increase the assessment of higher-order skills.
A report on feedback from an invitation to comment on the future of the CPA exam has been published on the AICPA website. The AICPA is updating the exam to ensure that it continues to reflect the skills that newly licensed CPAs need to protect the public interest. The next version of the exam is scheduled to be launched in 2017.
After receiving feedback from 310 respondents and considering data and information gathered from meetings with members of the profession, the Board of Examiners is supporting the idea of increased testing of higher-order skills such as critical thinking, problem-solving, analytical ability, and professional skepticism.
With the help of key committees and the Board of Examiners, the
AICPA exams staff is developing an exposure draft to be released in September that will serve as the final proposal for the next version of the CPA exam.
A majority of respondents generally supported the current structure of the exam, which is divided into four parts—Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR),
Regulation (REG), and Business Environment and Concepts (BEC).
The invitation to comment discussed the possibility of replacing the current BEC section with an integrated section that would allow for greater testing of higher-order skills and blend elements of taxation, auditing, and financial accounting and reporting.
About seven in 10 respondents supported considering such an integrated section.
But there also was support to retain the current structure, including the BEC section. As it continues to develop the exam, the Board of Examiners has asked the AICPA exams staff to further explore the idea of an integrated exam section.
The idea of including more testing of written communications also is a challenge in the development of the exam. Although respondents supported testing of written communications in sections beyond the BEC section, scoring written responses in the exam is time-consuming and costly.
The AICPA plans to propose to continue to evaluate written communications solely for writing ability in a single section of the exam. Content knowledge and testing of higher-order skills
(application, analysis, and evaluation) would be objectively tested through multiple-choice questions and task-based simulations in all sections of the exam.
Other findings from the invitation to comment included:
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Given Microsoft Excel’s widespread use in the profession, almost seven in 10 respondents supported introducing it to replace the current generic spreadsheet used in the exam. Although this change will lead to a cost increase, the Board of Examiners acknowledged the suggestion, and the AICPA has begun working toward implementing Excel for potential inclusion in the exam in 2018.
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Respondents suggested changes to certain aspects of how the test is administered.
These included:
 Eliminating the blackout months or reducing the blackout time. The exam currently is not administered in March, June, September, and December.
 Extending from 18 months to 24 months the period during which the exam must be completed after passing the initial section.
 Lifting the current restriction on retaking a failed section within the same testing window.
Additional research was used to develop detailed outlines describing the content and associated skill levels to be included in each existing exam section. A broad survey of newly licensed
CPAs and their supervisors, which was completed in January, is being used by the AICPA exams staff to develop a draft blueprint for each exam section, to be included in the exposure draft in
September.
Comments on the exposure draft received through November will be considered by the AICPA staff and the Board of Examiners.
Final approval is expected in 2016, with launch of the new version of the exam in 2017.
Ken Tysiac is a Journal of Accountancy editorial director .
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Student Career Fair—Register Now!
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President
Roy M. Boyd
Interim Executive Director
Marsha A. Moffitt
Finance/Technology Manager
Pradeep Sapkota
CPE Manager
Stephanie Tanner
Membership/Peer Review Manager
Marsha A. Moffitt
Public Relations / Communications Manager
Robin E. Harris
Member Service Specialist / ED’s Assistant
Linda Vance
CPE Specialist
Shana Buchanan
Are you an ASCPA student member? If not, you should be!
 Your membership with the state’s premier organization of accounting professionals shows peers, college professors and potential employers that you’re committed to your career.
Plus, it looks great on your resume!
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A professional staff at your fingertips—let us help you with questions about the CPA profession. Just give us a call on our toll-free number 800-482-8739 and our friendly staff will lend you a hand.
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Receive the Society's Newsletter and the Student Newsletter.
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Makes you eligible to serve on an ASCPA committee or Task
Force and the opportunity to actively participate in Society activities and eligible to join a local Chapter in your area.
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Make connections for college and in your career.
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Receive discounts on various CPA Exam Review Courses.
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Receive invitations to networking events.
Students majoring in accounting at a recognized college or university, who are junior class level or above, with the goal of becoming a CPA, may apply to become a student member, and will remain eligible as a student member until graduation. To join online: http://www.arcpa.org/public/join/join.aspx
Our partner, CPA Crossings, LLC, provides continuing professional education (CPE) for CPAs across the country. We have teamed up with them to provide FREE webinars to ASCPA student members. Choose from a large variety of up to date topics in the areas of technology, business management, tax, accounting, ethics, and fraud.
Some examples include:
 How to Become an Excel Formula Expert

Get Your Notes Organized With Microsoft OneNote

Crowdsourcing and Collaborative Consumption Tools for
Accountants

Affordable Care Act – Key Tax Issues for Employers
 10 Accountants Behaving Badly
To receive a full list of course options and to register, please contact
Stephanie Tanner at 501-664-8739 or stanner@arcpa.org
The 2015 edition of the AICPA’s Protecting the Public Interest –
The Uniform CPA Examination is now available online, at: http://www.aicpa.org/BecomeACPA/CPAExam/Downloadabl eDocuments/CPA Exam Digital Brochure.pdf
This useful resource provides general information about CPA
Exam administration, content and scoring, as well as licensing and other information for CPA Exam candidates.
ThisWayToCPA is a site created and maintained by the
American Institute of CPAs (AICPA) for college students who have their sights set on CPAhood. It’s packed with all of the information that you need to complete the journey from student to CPA, such as:

CPA Exam rules and study pointers
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State requirements and other need to know stuff
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A community of current and future CPAs
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Student competitions with big rewards
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Scholarship details
Check out the website at: www.ThisWaytoCPA.com or on Facebook: https://www.facebook.com/ThisWaytoCPA

ASCPA Student News 3
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Employers currently rate the CPA as the most desirable credential.
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CPAs earn 10–15% more than non-CPAs working in accounting-related jobs.
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CFOs who are CPAs have increased 13% since 2006.
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Demand for accountants (especially CPAs) and auditors is predicted to increase by 22% between 2008 and the year 2018 – much faster than the average for other occupations.
Source: Robert Half 2014 Salary Guide,
The Wall Street Journal, 8/13/13 and
U.S. Department of Labor
Arkansas Society of CPAs associate and student members can receive a discount on the Becker Professional CPA Review for the full 4-part review course. Save $300 off of the full 4-part review of either Live, Online, or CD-Rom self study review course format. Becker CPA Review classes correspond with the exam testing windows that you select.
For more information on this member service, ASCPA members should click on the Becker icon in the Student
Lounge section of the ASCPA website: www.arcpa.org or call
Becker at (800) 868-3900.
All post baccalaureate students and junior and senior level accounting majors at four-year public and private colleges and universities are eligible to attend.
Attendance is free, and you will need to bring copies of your resume to hand out to the firms in attendance.
Dress for this event is business casual attire. This means that suits are encouraged, but ties are not required. In addition, t-shirts, jeans, shorts, and other forms of attire that would be inappropriate in an office setting will not be permitted. Beverages and light snacks will be available throughout the event.
Register online by SEPTEMBER 15, 2015 : http://www.arcpa.org/Content/career fair.aspx
This will allow us to get a better count of the number of attendees. In addition, all pre-registered attendees will receive pre-printed name tags. If you have any questions, please contact Robin Harris at 501-664-8739 or 1-800-482-8739 in AR, or e-mail: rharris@arcpa.org
ASCPA associate and student members can now spend less than $700 on the ExamMatrix CPA Exam Review. The ASCPA associate and student member rate is $629.30 for four-part, two-year full online review ($899 retail), or $195.30 per section ($279 retail). You can now review on any PC, Mac, iPad or Android tablet device with internet access. ExamMatrix
CPA Exam Review includes Adaptive Software, Reference
Books (includes embedded E-books), Realistic Simulations,
Pass or Refund Guarantee, and No Lock-Outs.
Go to: www.ExamMatrix.com/Demo to access a prerecorded video demo or register for a 72-hour free trial. Or click on the
ExamMatrix icon in the Student Lounge section of the ASCPA website: www.arcpa.org
As an ASCPA student or associate member, you can take advantage of a 30% discount on Kaplan CPA Review Courses!
To take advantage of this discount, ASCPA members can click on the Kaplan CPA Review icon in the Student Lounge section of the ASCPA website: www.arcpa.org
or call Kaplan at (608)
779-4693 or (800) CPA-2DAY.
ASCPA student or associate members can receive a discount of
30% off all Lambers products. Special bundle pricing is also available.
To take advantage of this discount, ASCPA members can click on the Lambers icon in the Student Lounge section of the
ASCPA website: www.arcpa.org or call the Lambers account representative to place your order, at (800) 272-0707, ext.
212.

Any person who is majoring in accounting at a recognized college or university, who has attained at least junior class standing, with the goal of becoming a CPA, may apply to become a student member, and will remain eligible as a student member until graduation.
JOIN FOR FREE!
COMPLETE THE APPLICATION ONLINE: http://www.arcpa.org/public/join/join.aspx
For more information, contact us at: 11300 Executive Center Drive, Little Rock, AR 72211-4352
501-664-8739 / 800-482-8739 in Arkansas / Fax 501-664-8320
Accounting Fly (formerly CollegeFrog) offers a blog and informative videos for students and entry level job seekers, to help prepare for careers in accounting.
For the most current blog posts, go to: http://blog.accountingfly.com/tagged/students
Examples of past blog posts and recorded video topics include:

What Are Employers Really Looking For?
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Next Generation Firms Attract the Best Talent
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Careers Beyond the Big 4
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Government Accounting Careers
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Your Accounting Career Options
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An Overview of Forensic Accounting
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Business Etiquette
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The Path to a Successful Career in Taxation
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Communication and Interpersonal Skills for Accountants
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Accounting Technology That Boosts Your Resume
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Careers in Small Firms
And More!
Recordings of these video topics listed above can be viewed at: https://www.youtube.com/user/CollegeFrogGetHired/videos
Need information on where to apply for an internship, or which firms hire entry level staff? Check out 2014 Guide To Public
Accounting Firms booklet The Guide contains a directory of public accounting firms in Arkansas, an alphabetical listing of firms, as well as a geographical index by city. Each listing contains contact information, website, firm size, and description where available.
The Guide also contains helpful information on education requirements to sit for the CPA Exam, tips for writing a resume and preparing for a job interview, frequently asked questions, and more.
To request a copy, email: rharris@arcpa.org, or view online: www.arcpa.org . Click on Student Lounge . Then click the link to
Guide to Public Accounting Firms .
Take your ASCPA Student membership to the next level. Get your accounting career off and running by staying connected to your most valuable resource
Any person who is majoring in accounting at a recognized college or university and has attained at least junior class standing, is eligible for student membership and may remain eligible until graduation. If you have recently graduated, or you are about to graduate, we encourage you to upgrade your Student membership to Associate member status.
Associate membership is available to you if:
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You have graduated and are now actively sitting for the
CPA Exam; or
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You have passed the CPA Exam and are working toward your experience requirement to obtain your CPA Certificate
(you currently do not have a CPA license); or
 You are not actively sitting for the CPA Exam, but you work under the direct supervision of another ASCPA member
If you have already obtained your CPA license, you should upgrade your membership to Certified status.
Maintaining your ASCPA membership offers you:
Access to ASCPA events and CPE courses at the member discounted rate
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The opportunity to network with other ASCPA members, particularly the Emerging CPAs , an ASCPA committee geared for members 40 years old and younger
 Credibility on your resume
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A monthly subscription to the ASCPA Newsletter
ASCPA membership is the next step in your career success.
Make sure you are on the right path.
Upgrade your membership today! http://www.arcpa.org/public/join/join.aspx
If you are no longer a Student and you do not currently meet the qualifications listed above to retain membership in the
ASCPA, please let us know calling or emailing us so we can terminate your Student membership accordingly.
For membership questions, contact Marsha Moffitt, ASCPA
Membership Manager, by phone at (501) 664 8739 or email: mmoffitt@arcpa.org
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