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"I know you believe you understand what you think I said but I am not sure that you realize that what you heard is not what I meant." And so it goes....

"I know you believe you understand what you think I said but I am not sure that you realize that what you heard is not what I meant." And so it goes....

In business and accounting, the same words are used but with differing definitions. Here is the way the AICPA (American Institute of Certified Public Accountants) defines these terms as applied to the Uniform Certified Public Accountant Exam CBT (Computer-Based Testing) format.

Analysis: the skill to organize, analyze, and interpret data as a way to develop viable alternatives in decision-making.

Communication: your skill to express information to others via written and oral formats as well as to be able to listen and to analyze information which is written or spoken by others.

Judgment: the skill to identify and analyze options in a decision-making process and then to provide a viable conclusion.

Research: the skill to locate and collate viable information from available, reliable resource materials. Understanding: the skill to identify and comprehend the intrinsic meaning of the matter and to apply that information to applicable situations.

CPA Exam Regulation Exam Uniform Certified Public Accountant Exam (CPA Exam): a four part test written and scored by the AICPA and delivered to students at 300 of Prometric's U.S. test centers. It is only given in English. One of those sections or parts is: Regulation (REG): To pass, you need to know how to apply knowledge of federal taxation, ethics, professional and legal responsibilities and business law. (3 hours)

Those who have passed REG shared this:

1. Keep an eye on the clock and pace your work. For instance, if you have 180 minutes to complete five sections, then you have 36 minutes to finish each testlet. 2. It is very easy to keep working at a problem and exhaust your time budget. Do not do that! Instead, you may wish to mark the problem and come back to it IF you finish that section and still have time left. 3. Otherwise, take a guess and move to the next problem. If you run out of time for that section, move on to the next.

Auditing and Attestation CPA Exam Uniform Certified Public Accountant Exam (CPA Exam): a four part test written and scored by the AICPA and delivered to students at 300 of Prometric's U.S. test centers. One of those sections or parts is:

Auditing and Attestation (AUD): To pass, you need to know how to apply knowledge of auditing procedures, generally accepted auditing procedures, generally accepted auditing standards and other standards related to attest engagements. (4.5 hours) Students sometimes find that they have a problem passing AUD because:

1. Most problems are not numerical in format and do not require using a formula or algorithm. You have to use words to answer a question. To handle this, you may wish to change your study habits.

2. Many audit questions have more than one right answer. The goal is to find the "best" answer-which is what earns you points. "Best answers" are those which offer auditors the most assurance and can create the best case for that scenario. Because these answers are experienced-based, you need to practice problems in every content area.

3. Several questions require you to apply the definition of a term to answer a question. Strengthen your accounting vocabulary and you will pass.

4. AUD has the most content of the four sections. That is why most review courses suggest that you spend longer studying for AUD than any other section.

5. Many people who sit for this section have never worked as an auditor for a public accounting firm. To handle this, practice, practice, practice your study questions. Avoid your college textbooks because the material may be outdated. CPAexcel has over 5,100 past CPA Exam questions organized in an electronic test bank which you can use to practice. Audit content changes frequently and CPAexcel keeps up with those changes, giving you the most current information to study.

6. Strategy for picking your answer: Do not pick the first answer you see. Read them all. There may be an even better answer further down the list. Read carefully.

CPA Exam Business Environment and Concepts Uniform Certified Public Accountant Exam (CPA Exam): a four part test written and scored by the AICPA and delivered to students at 300 of Prometric's U.S. test centers. It is only given in English. One of those sections or parts is:

Business Environment and Concepts (BEC): To pass, you need to understand how to apply knowledge of business concepts for and accounting implications of business transactions. (2.5 hours)

According to one source, "CPA Exam BEC" is the most searched for of the four sections, which indicates people are very interested.

Of the four parts, BEC has the highest failure rate. Why? 1. Until December 31, 2010, BEC is consists only of multiple choice questions (MCQs). It has no written communications or simulations which the other three sections have. For that reason, many students incorrectly assume that this is the easiest one to pass and do not invest as much study time.

2. Because it is the shortest of the four tests, many students do not put in as much effort to study for it. What can you do to increase your chances of passing BEC?

1. BEC has an IT section. Since IT accounts for 25% of your score, you need to know what all those terms mean and how to use them in a sentence.

2. Managerial and cost accounting accounts for 22-28% of the score. To score well, take lots of practice tests. The answer to the question, "How do you get to Carnegie Hall?" is "Practice! Practice! Practice!" That answer applies to passing this section of the CPA Exam: "Practice! Practice! Practice!"

3. Since IT and managerial and cost accounting amount to about 50% of your score, you need to know these topics completely before you sit for the test.

4. BEC covers basic economics. Since many people take this early in their college career, they have only dim memories of the topic by the time they sit for the exam.

Business Environment and Concepts

Though the Auditing and Attestation (AUD) section of the Uniform Certified Public Accountants Exam (CPA Exam) written by American Institute of Certified Public Accountants (AICPA) is longer than the Business Environment and Concepts (BEC) section, the pass rate is higher for AUD than it is for BEC.

Why? More students put in more study time per section on AUD than they do on BEC. AUD tests multiple choice questions, simulations, and written communications while BEC only tests with multiple choice questions.

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