What is replacing BEC CPA Exam?

The legacy CPA Exam included four mandatory exams that all candidates took: AUD, BEC, FAR and REG. In 2024, the CPA Evolution Exam will include three core exams (AUD, FAR and REG) and one discipline exam of your choosing (either BAR, ISC or TCP). No longer will each candidate take the same four exams.

Is BEC getting harder in 2024?

Content Changes: The forthcoming 2024 CPA Exam will introduce significant content modifications, placing a greater emphasis on higher-order skills such as critical thinking and problem-solving. By attempting the BEC section before 2024, you may find it comparatively easier to pass than the revised version.

What is the new CPA Exam format for 2024?

2024 CPA Exam Evolution: Core-Plus-Discipline Model

The exam will remain in a four-section, 16-hour format. The new CPA licensure model requires CPA candidates to be skilled in accounting, auditing, and tax. These topics will be tested in three core sections that are required for all candidates.

How is AUD changing in 2024 CPA?

Upon the launch of changes to the CPA Exam in 2024, the AUD CPA Exam section will mostly remain the same, with the addition of economics and internal controls topics that will move over from the BEC section.

What is BEC getting split into?

The contents of BEC will be split into AUD, BAR, ISC, and TCP. If BEC is passed before the new exam model takes effect, and does not expire prior to passing all CORE sections, you will not have to take a discipline under the new model.

Full Guide: 2024 CPA Exam Changes and What it Means for You

Is BEC the worst CPA Exam?

Among the four sections, FAR has a reputation for being the hardest, and it typically has the lowest pass rate. BEC has the highest pass rate and is often thought to be the easiest. AUD and REG tend to be middle of the road.

Is CPA getting harder in 2024?

Unless you had additional college courses or significant practical experience in one of the “disciplines” in the new “Core-Plus-Discipline” model, you might find the 2024 version of the CPA Exam harder than the 2023 one.

Is the CPA declining?

The AICPA/CIMA 2022 Annual Report (https://tinyurl.com/2p8jzfsp) reveals a 7% decrease from 2021 to 2022 for the total number of candidates taking the CPA exam.

Is CPA obsolete?

Profession in Decline

Finally, there is a perception that the accounting profession is in decline. This is partly due to the increasing automation of many accounting tasks and outsourcing work to lower-cost countries. Despite these challenges, there are still many reasons to pursue a career in accounting.

Which CPA Exam is the hardest?

The FAR section of the CPA exam is hard because it's the most comprehensive of the 4 exam sections, and it has a lot of math questions that are mentally taxing to get through. It has the lowest pass rate of all 4 exam sections and is considered the hardest CPA exam section.

Is CPA going to change in 2024?

A new version of the CPA Exam launched on January 10, 2024. The CPA licensure model is transforming to recognize the rapidly changing skills and competencies the practice of accounting requires today and will require in the future.

Can you pass BEC in 2 weeks?

I legit just passed BEC with only 2 weeks of studying (35 hours of study time in the section)!!! Superfast is the best and now I only have 2 more left.

How long should I study for BEC?

CPA Candidates often ask how many hours it takes to study for the BEC CPA Exam. The AICPA recommends that CPA Candidates spend a minimum of 300 to 400 hours to study for the CPA Exam. That's about 16.7 days of consecutive study time—needless to say, it's a lot.

What happens if I take BEC in 2023?

If you pass BEC before 2024, BEC will replace a discipline section requirement. If you pass AUD, FAR or REG, they will carry over and serve as core credits. Notably, the 2024 CPA exam will emphasize advanced critical thinking and problem-solving skills.

Should I take BEC in 2023?

However, many candidates might prefer to avoid the uncertainty associated with these new sections. The advantage is that if you take and pass the BEC Exam by December 15, 2023 (the last testing date in 2023), you will be exempt from having to take one of the new, more advanced Discipline sections in 2024.

How many hours to study for BEC CPA?

How Many Hours to Study for BEC CPA Exam Section. BEC has 62 MCQs, four simulations, and it throws a curveball with two written communication tasks. When you use the best test prep, you can expect it to take roughly 130 hours to study for the CPA exam's BEC section.

Why CPAs are quitting?

Accountants cite low salaries, mundane tasks, burnout and the threat of new technology like generative AI as reasons for considering other industries.

Why are CPAs declining?

The number of individuals entering the workforce with that credential is decreasing. The pandemic has played a part in the decline because it spurred short-term closings and various restrictions at CPA testing centers, according to the American Institute of Certified Public Accountants' (AICPA's) 2021 Trends Report.

Why no one wants to be a CPA anymore?

The Working Hours - Long working hours have long been associated with public accounting, and they continue to be a significant reason why younger professionals are hesitant to pursue higher levels of public accounting, especially partnership.

Are CPAs wealthy?

A CPA salary usually reaches the high five figures, and senior CPAs in management can earn a six-figure salary.

Will CPAs be replaced by AI?

The Big Four accounting firms are investing heavily in generative artificialintelligence (AI), but the technology will not replace accountants, Accounting Today reported. Instead, AI will augment their productivity and efficiency by taking over mundane tasks such as data entry.

What percentage of CPAs have a master's degree?

However, according to data from the U.S. Bureau of Labor Statistics (BLS), about 13% of accountants and auditors have a master's degree as of May 2020.

Should I take BEC before 2024?

If you are unable to complete all exam sections before 2024, we still recommend starting with BEC, which will replace a discipline requirement. Surgent recommends taking your discipline exam immediately following the core section associated with it: FAR > BAR, AUD > ISC and REG > TCP.

What age are most CPAs?

The average age of a CPA in the US is 52-53 years old. Given that many accounting firms mandate a retirement age of 65 or 66, this suggests most CPAs are set to retire within the next decade or two. This gap is exacerbated by a growing demand for accounting and finance professionals.

Can you pass all 4 CPA exams in 6 months?

Students, recent graduates, and people with plenty of time to study should aim to sit for and pass all 4 sections of the CPA Exam in about 6 months. This would have you taking an exam every 6-7 weeks and studying about 22-26 hours each week.