This is your Ultimate CPA Study Plan
This is your Ultimate CPA Study Plan

The accounting field is currently undergoing a significant transformation, and in line with these changes, the CPA exam has evolved to meet the rapidly changing market needs. Within this shifting landscape, three distinct discipline tracks have emerged as key focal points in the CPA exam: Business Analysis & Reporting, Information Systems and Controls, Tax Compliance and Planning instead of the BEC Exam and alongside the major core subjects (FAR, AUD, REG). Each of these tracks assumes a significant role in shaping the future of accounting. These tracks offer specialized expertise critical for addressing the changing demands of both businesses and clients in the continuously evolving financial arena.

Which track suits you best?

Before creating your study plan, it's crucial to identify the right career track that aligns with your prospects and needs. So, which track suits you best?  

Business Analysis and Reporting (BAR)

Expected study time: 100-120 hours (includes foundation of economics)  
Multiple choice questions: 50 
Task based simulations: 7

Business Analysis (40-50%)  
Technical Accounting and reporting (35-45%) 
State and local governments (10-20%) 

Expected study time: 60-80 hours (includes foundation of tax)  
Multiple choice questions: 68 
Task based simulations: 7 

Tax compliance and planning for individuals and personal financial planning (30-40%)  
Entity Tax Compliance (30-40%) 
Entity Tax Planning (10-20%) 
Property transactions (disposition of assets) (10-20%) 

Expected study time: 60-80 hours (includes foundation of information system)  
Multiple choice questions: 82 
Task based simulations: 6 

Information Systems and Data Management (35-45%)  
Security, Confidentiality and Privacy (35-45%) 
Considerations for System and Organization Controls (SOC) Engagements (15-25%)

Want to know more?

Register for our webinar on October 18th 2023 at 6:00PM EEST to hear all about the CPA Exam changes

The Ultimate CPA Study Guide

You can choose any study plan you wish, but here is what Morgan and Becker advise you for your study plan according to your discipline track:  

Business Analysis & Reporting

The reason we recommend this sequence in specific is for the very fact that:

  • FAR serves as the cornerstone for all CPA content, making it the recommended starting point.
  • BAR is closely linked to FAR as it contains content from the older Financial section. Therefore, it is best approached immediately after completing the financial section to reinforce your understanding.
  • AUD encompasses aspects of both BAR and FAR, so it's advisable to tackle it after finishing both of those sections to apply your knowledge effectively.
  • REG can be completed at your convenience, without a strict chronological requirement.
Information System and Controls

The reason we recommend this sequence in specific is for the very fact that:

  • Following the completion of FAR, it's highly advisable to either reinforce your understanding with AUD or proceed directly to REG. Nevertheless, it's crucial to apply your knowledge actively after studying FAR.
  • ISC should ideally be tackled after AUD, regardless of whether you choose to continue with REG or consolidate your knowledge with Audit. This sequence ensures that you can apply the foundational knowledge from FAR and the practical experience gained from AUD to the field of information systems.
Tax Compliance and Planning

The reason we recommend this sequence in specific is for the very fact that:

  • Regardless of whether you opt to strengthen your understanding with Audit following FAR, it is always recommended to complete the Taxation (TCP) section after REG, as these two areas are closely interconnected with one tackling regulations reinforced with the taxation discipline right after. 

Quick Facts for your Core Exams

AUD: If you plan to pass a second exam before the upcoming changes, we recommend focusing on AUD. This section will see an expansion in 2024, with slightly more content for candidates to cover.

FAR: In 2024, this section will becomes more manageable due to a reduction in the amount of content candidates are required to cover compared to the current version of the exam.

REG: In 2024, this section will becomes more manageable as candidates will have less content to cover compared to the current version of the exam, making it easier.

Ready to Step Into Your New Journey?

Here's your step-by-step process to becoming a CPA

Step #1

Meet the educational requirements

Step #2

Apply to take the exam & submit your application

Step #3

Study for the exam & formulate your study plan

Step #4

Get your Notice-to-schedule (NTS) and Schedule your exam with Prometric

Step #5

Take the exam, obtain the required experience and become certified!

Still have questions?

 Attend our webinar to address all your queries!

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