U.S. CPA SUCCESS The benefit of having a CPA Who is eligible to take the exam? Exam content Exam procedures U.S. CPA Prep. Program Instructors Questions !! Why would we want to obtain the U.S. CPA designation? Will make you much more competitive in the job market (competitive advantage) The most widely held and globally recognized professional accounting designation in the world Highly-regarded professional designation in the international business community Demonstrate to clients and employers that you have the knowledge, skills and abilities to be a competent and trusted business advisor Continue… the CPA is a brand name that will take about 4 months of part-time studying, compared to 2 years for an MBA and 3 years for a law degree it's a very easy technical, primarily multiple-choice exam, testing few application skills and little integration of the different subjects ongoing dues, continuing education requirements, U.S. residency requirement, and even work experience is NOT required in all states Continue… You can take the exams one at a time in most U.S. cities. The CPA designation itself is good in all 50 U.S. states. Licensing is unique to each individual state, but this only applies if you intend to move to the U.S. AND (not or) sign audit reports. In any case, you never have to write another exam, but for licensing, they might check your education and work experience Who is Eligible? Virtually all ACCAs & CAs (from any country) and university graduates Most CGAs, CMAs and CGA/CMA/CA/ACCA students Many undergraduate business students but a degree and U.S. tax course might be required prior to writing the exam 3Es Education: Canadian university graduates with courses in accounting, commerce or business administration meet the educational requirements Work Experience: Some states do not require any work experience. Other states that do require some work experience will accept Canadian work experience that can be completed either before or after passing the examination Examination: Must pass the U.S. Uniform CPA Exam (4 exams that tests only entry-level technical material) 4 Exams 1. 2. 3. 4. Auditing and Attestation Financial Accounting and Reporting Regulation Business Environment and Concepts 4.5 4 3 2.5 Hours 14 Offered during testing windows January-February, April-May, July-August and October-November. The U.S. Uniform CPA Exam Extended syllabus of required knowledge, including such topics as microeconomics, macroeconomics and finance A computer-administered exam offered at designated Prometric computer testing centres Includes simulations which test candidate research skills and require use of reference, spreadsheet, database and word processing software. Testlets • “Groups of questions that are constructed to appear together.” • A testlet is 25 multiple choice questions OR a simulation. • Exams comprise approximately 3 multiple choice testlets and 2 simulation testlets. Simulations assessment of knowledge and skills in context approximating that found on the job through the use of realistic scenarios and tasks, and access to normally available and familiar resources Simulations • Simulations are condensed case studies • 35-45 minutes in length • Set of facts will be provided • Access to authoritative literature provided • Required tasks will be assigned (eg brief memo) • Not in BEC exam Exam Information www.uscpasuccess.com www.cpa-exam.org www.prometric.com Exam Process • Apply to state of your choice • Take exams in any order • Arrange appointment with Prometric testing centre • One attempt only allowed at each exam in each enrolment window • Passes are valid for 18 months and then expire if you have not completed all 4 exams in that time. Choosing a State Each state is different. Some require five years of post-secondary education. At least an associate’s degree or professional designation is required. Some states require practical experience before or after passing the exam to get the CPA. Of those states that do not, there are two often used by Canadians which do not require work experience. Credential Evaluation Use U.S. CPA Success useful links & follow instructions of each state. Do as early as possible as processing of applications takes time. Locations & Exam Fees Virtually all major U.S. cities in virtually all states Computer Based Testing at Prometric testing centres Individually scheduled within windows Register 5 - 45 + days in advance Different states have different exam fees (around $150 per exam) U.S. CPA Prep Programs UNIFORM 4-Day Program IQEX 3-Day IQEX Program Our Programs No tapes, all live For Canadians, it is a prep course, not a "review course", since very few CDNS have had any exposure to U.S. tax, U.S. law, and U.S. fund accounting. We therefore assume no knowledge whatsoever in these areas, and start from scratch. For other areas we provide review materials and encourage you to use knowledge gained in your degree program. 4-Day Program Prepare U.S. Uniform CPA exam participants with the concepts and knowledge necessary to pass the exam Will discuss all of the necessary technical material Will review hundreds of prior CPA exam questions Will teach you proven techniques for answering testlet and simulation questions that will ensure you pass all 4 parts of the exam the first time! IQEX Program Focuses on all technical areas tested on the exam Intensively review all of the law, fund and not-for-profit accounting, taxation and professional ethics syllabus areas (covering 70-80% of the IQEX exam content). Reviews hundreds of prior U.S. CPA MC questions Shows you the proven skills and MC exam techniques Exam Cram opportunity to attempt and obtain feedback on full-length practice examinations. Courses available in Toronto Courses are available in winter and throughout the summer. Unlimited repeats allowed – you pay only for new materials which are updated each year. All Toronto courses are currently held at Days Hotel and Conference Centre – Highway 400/401 Jane/Wilson. Our Instructors In addition to our instructors' combined 50 years relevant teaching experience, one of our instructors was selected by the AICPA to mark the examination essays for thousands of candidates taking the CPA Exam. Our 2007 participants will truly benefit from our unique expertise which will assist our course participants with the simulation portion of the exam. Our instructors will show you the common mistakes made by many exam candidates, discuss methods of maximizing your grades on the simulation questions, and answer any individual questions from our participants. Aubrey Glazman Passed all 4 parts of the U.S. Uniform CPA Exam in 1991 Passed the U.S. CPA Reciprocity (IQEX) exam (scoring in the top 5% of all 1997 IQEX exam candidates) Canada's most experienced U.S. CPA exam instructor, and, over the past ten years has helped more than 1700 Canadian accountants pass the U.S. CPA exams Jim Knafo The first U.S. CPA Exam instructor in Canada to pass the U.S. CPA Reciprocity Exam. exam-grading specialist and for several years; has been involved in the marking of thousands of professional final examinations for Canadian governing bodies Instructs in both our U.S. CPA Preparatory Program and Introduction to U.S. Income Taxation course has helped more than a thousand accountants pass the U.S. CPA Exams Henry Zimmer Passed the U.S. CPA Reciprocity exam (scoring in the top 10% of all 1998 IQEX exam candidates) Passed all four parts of the November 2000 U.S. Uniform CPA exam One of Canada's most experienced professional instructors, and, over the past thirty years, has helped thousands of Canadians earn their professional accounting designation Mark Feigenbaum Was selected by the American Institute of Certified Public Accountants (AICPA) to mark the examination essays for thousands of candidates taking the U.S. Uniform CPA Exam He is Canada's only U.S. CPA who has actually been involved as an AICPA marker of the essay portion of the Uniform CPA Exam Taught hundreds of U.S. CPA exam candidates in a number of large national U.S. CPA prep programs in the U.S. THANK YOU!~ U.S. CPA Success >>>>>>>> Contact Info U.S. CPA SUCCESS Tel: 416-925-3889 Fax: 416-925-1209 info@uscpasuccess.com http://www.uscpasuccess.com/ Aubrey Glazman Toll Free#: 1-877-872-7239 Direct Line: 1-561-995-9311 aubrey@uscpasuccess.com