2017 CPA Exam Changes

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• published: 03 Nov 2015
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Watch this 40-minute video on the major changes expected to appear on the 2017 CPA Exam. Roger Philipp, CPA, CGMA, takes an in-depth look at the expected changes and advises you on how to successfully prepare! In this video, you’ll learn about the exam changes being proposed for: Content, Skill level, Question type, Structure, & Time allotment. Also, for further information, download our free 2017 CPA Exam Changes Handout - https://www.rogercpareview.com/sites/default/files/2017_flyer_final-opt_0.pdf Connect with us: Website: https://www.rogercpareview.com Blog: https://www.rogercpareview.com/blog Facebook: https://www.facebook.com/RogerCPAReview Twitter: https://twitter.com/rogercpareview LinkedIn: https://www.linkedin.com/company/roger-cpa-review Are you accounting faculty looking for FREE CPA Exam resources in the classroom? Visit our Professor Resource Center: https://www.rogercpareview.com/professor-resource-center/ Video Transcript Sneak Peek: Hello and welcome, welcome to the 2017 CPA Exam changes. My name is Roger Philipp, CPA, CGMA of Roger CPA Review and we're going to spend the next 30 to 40 minutes talking about the exciting new 2017 CPA exam. Now, when looking at this new exam, they came out with an exposure draft, they being the AICPA. They came out with this September 1st of 2015. Basically they want it back for comment and then they're gonna issue the final draft the second quarter of 2016, becoming effective sometime the second quarter of 2017. With the exam, there are different content changes and they're looking at understanding what we call "higher level skills" and this all came about because of the demands of a CPA with two years of experience. And that's really what they're looking at, they're saying, "What does a typical CPA with two years of experience do in the real world?" Now a lot of things have changed since my day when I was a new hire at Deloitte & Touche because back in my day my job was to go out there and prepare spreadsheets and do lead schedules and ticking and tying and footing and cross-footing and all that kinda stuff. Well, in today's day and age things have changed where computers do a lot of those tasks. So, because computers do those tasks we realize that a CPA has to have a higher level understanding. He needs higher, or she needs higher, level skills. Because of the things we're gonna be doing, recognizing certain issues, identifying errors, challenging assumptions, applying both professional judgement and skepticism in doing an Audit, for example. So, because of that there's gonna be structural changes to the exam, which basically means we're gonna have more task-based simulations. We're also gonna be having task-based simulations in areas that didn't have them previously, like for example BEC, Business Environment and Concepts. Also the purpose of this additional TBS is to test those higher order or higher level skills, especially things like analysis and evaluation. We'll talk about where some of those came from in a few minutes, but they're looking more at not just understanding, remembering, and application but also analysis and what we call evaluation. There's also gonna be some administrative changes and then we'll talk also on just, hey how do you prepare for this exciting new exam? Now, why are the changes occurring and I just touched upon that a little, but because of the change in the business environment and technology as well their realizing that the demands on the two year CPA has increased traumatically. And what that basically says, is we have an increase in the required knowledge, skills, responsibilities of a newly licensed CPA. Therefore, there was a need to change the exam.