Take Up the CPA Exam Sooner Rather Than Later!- Changes to CPA Exams in 2024

CPA Evolution is just about to happen! AICPA has published the tentative 2024 CPA Exam testing schedule and score release schedule.? There are limited testing schedules and delayed score releases in 2024! It's important to acquaint yourself with CPA 2024 Changes, CPA 2024 score release dates, and the upcoming modifications to the CPA Exam to understand how they may impact your journey toward obtaining a CPA license.?

Early Insights for 2024 Testing: NASBA and AICPA Release Tentative Application and Exam Schedules

As we approach 2024, new information is becoming available to help candidates plan their testing schedules for both late 2023 and throughout 2024. The National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA) are now releasing tentative application information and testing schedules for 2024. Please note that these dates are not yet final, but they are being provided as early as possible to assist candidates in considering their testing plans.

CPA Exam Schedule Update for 2023-2024 Transition Period

Candidates should be aware that the final day of testing for all existing CPA Exam sections (AUD, BEC, FAR, and REG) is expected to be December 15, 2023. From December 16, 2023, to January 9, 2024, no CPA Exam sections will be available for scheduling. This period is set aside for the conversion of IT systems to accommodate the 2024 CPA Exam sections. Therefore, candidates are advised to plan their testing schedules accordingly, taking this information into consideration.

Revamping BEC Section with Specialised Disciplines for Expertise

The spotlight is on the Business Environment and Concepts (BEC) section as the 2024 CPA changes will significantly affect it. The three core disciplines of the BEC section will be replaced by Business Analytics and Reporting (BAR), Information Systems and Controls (ISC), and Tax Compliance and Planning (TCP). In the new model, CPA candidates can choose one of these three disciplines instead of taking the traditional BEC section. The ultimate goal is to make CPAs experts in a specific subject area.

The other three core subjects - AUD, FAR, and REG - will remain unchanged. Students aspiring to become CPAs must still pass these three core subjects. However, it is anticipated that the difficulty levels of these subjects might change under the new model.

The removal of BEC will be replaced by the introduction of three disciplines - BAR, ISC, and TCP. Candidates will have the option to choose one of the following combinations:

• AUD+FAR+REG+BAR: This option is designed for students who have a strong interest in core accounting and wish to specialise in it.
• AUD+FAR+REG+ISC: Ideal for students who want to focus on auditing, as ISC includes technological subjects relevant to the audit process in today's automated environment.
• AUD+FAR+REG+TCP: Students interested in taxation and regulation should consider this combination as TCP will enhance their knowledge of regulations.

The impact of the CPA 2024 changes will be significant, particularly for the BEC section, which will be restructured to provide candidates with specialised knowledge in specific disciplines.? Students will need to carefully choose their desired focus area based on their career goals and interests.

Due to the limited testing schedule and delayed score releases in 2024, don’t you think it would be a smart decision to take up the CPA exam as soon as possible? If you successfully pass and secure credit for all four CPA Exam sections before December 31, 2023, the changes to the CPA Exam and its administration after January 2024 will not affect your progress. However, if you will still be in the process of taking the CPA Exam in January 2024 and beyond, it becomes challenging to grasp the details of the CPA Evolution-aligned CPA Exam (the 2024 Exam) and its administration.

Watch this video to gain complete clarity on CPA 2024 changes: https://www.youtube.com/watch?v=yGEiTpbxOD0

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