If you are looking to become a Certified Public Accountant (CPA) in the United States, passing the CPA-Business exam is an essential part of the process. The CPA-Business exam, officially known as the Business Environment and Concepts (BEC) exam, is designed to test your knowledge of business concepts and principles, as well as your understanding of the economic, regulatory, and social environment in which businesses operate. In this guide, we will provide you with everything you need to know to pass the CPA-Business exam.
Exam Objectives:
The CPA-Business exam is divided into four sections, each with its own set of exam objectives:
- Corporate Governance (17% - 23%)
- Economic Concepts and Analysis (17% - 23%)
- Financial Management (11% - 17%)
- Information Systems and Communications (15% - 21%)
- Strategic Planning (10% - 16%)
- Operations Management (12% - 18%)
The exam is designed to test your ability to apply these concepts and principles to real-world business scenarios.
Exam Details:
The CPA-Business exam is a computer-based test that is offered year-round at authorized testing centers. The cost of the exam varies by state, but is typically between $200 and $300. Candidates are given four hours to complete the exam, which consists of 62 multiple-choice questions and four task-based simulations.
In order to pass the CPA-Business exam, candidates must earn a minimum score of 75. The exam is scored on a scale of 0 to 99, with a score of 75 or higher considered a passing grade. Candidates will receive their scores immediately after completing the exam.
The exam is delivered in a computerized format, with candidates selecting their answers using a mouse or keyboard. The task-based simulations require candidates to use software tools to complete tasks such as analyzing financial data, creating budgets, or interpreting financial statements.
Who should take the exam?
The CPA-Business exam is designed for individuals who are seeking to become licensed CPAs in the United States. In order to be eligible to take the exam, candidates must have completed a bachelor's degree or higher from an accredited college or university, and have completed a minimum of 150 credit hours of education. In addition, candidates must meet any additional requirements set by their state's Board of Accountancy.
Related Books:
There are a number of books and study guides available that can help you prepare for the CPA-Business exam. Some popular options include:
- Wiley CPAexcel Exam Review 2021 Study Guide: Business Environment and Concepts
- Kaplan CPA Exam Business Environment and Concepts
- Roger CPA Review Business Environment and Concepts
- Gleim CPA Review Business Environment and Concepts
These books typically include practice questions, explanations of key concepts, and test-taking strategies to help you prepare for the exam. Some also include access to online study materials, such as practice exams and video lectures.
Preparing for the CPA-Business exam can be a challenging process, but with the right study materials and a solid understanding of the exam objectives, you can pass the exam and take the next step in your career as a CPA.
If you are planning to take the CPA-Business exam, it is essential to develop a study plan that will help you cover all the exam objectives and prepare for the types of questions you will encounter on the exam. Here are some tips to help you prepare for the exam:
Understand the exam format: As mentioned earlier, the CPA-Business exam consists of 62 multiple-choice questions and four task-based simulations. Understanding the exam format and the types of questions you will encounter will help you prepare more effectively.
Develop a study plan: Create a study plan that will allow you to cover all the exam objectives and practice different types of questions. Allocate time for reading study materials, taking practice exams, and reviewing your progress.
Use study materials: As mentioned earlier, there are several study materials available for the CPA-Business exam. Choose a study guide or review course that fits your learning style and includes practice questions and explanations of key concepts.
Take practice exams: Practice exams are an essential part of preparing for the CPA-Business exam. They will help you identify your strengths and weaknesses, become familiar with the exam format, and improve your time management skills.
Focus on your weak areas: After taking a practice exam, review the questions you missed and focus on improving your understanding of those areas.
Manage your time: The CPA-Business exam is a timed exam, and managing your time effectively is essential. Practice taking timed exams and develop a strategy for tackling different types of questions.
Stay calm and focused: Finally, on the day of the exam, stay calm and focused. Remember to read each question carefully and manage your time effectively.
In conclusion, the CPA-Business exam is an essential part of becoming a licensed CPA in the United States. By understanding the exam objectives, developing a study plan, and using study materials effectively, you can pass the exam and take the next step in your career as a CPA.