Following the awesomeness that was our “How Much Harder Is FAR Going To Be In 2011?” post, I figured it would be a good idea to go over each section to compare this year’s CPA exam with next year’s. Today you’re lucky to get a good BEC wrap up.
Written Communication – As stated last Friday, written communications are moving from FAR, AUD and REG to strictly BEC. This is good (and possibly easier) for most of you as writing can be a right-brained activity while the rest of the CPA exam mostly tests your left brain’s ability to process and digest information.
If I were taking the exam, I’d relish the opportunity to have three attempts at essays (since it might make up for my pathetic understanding of cash flows) but for many of you this is a weak area. That’s fine. In 2011 you’ll only have to try it once with three BEC-related WCs. You still do not have to get the answer correct but simply have to A) write like you have at least some sense of what a “business memo” contains B) not misspell any words (you get a spell-checker in 2011, no excuses) and C) stay on topic.
Easy. Currently you get two written communications in three different sections, while in 2011 you will get three written communications in one section.
No Simulations – Contrary to rumors I am still hearing for some unknown reason, BEC does not and will not contain simulations in 2011. It may not contain them for some time or the AICPA BoE could get creative and start testing them out in a few years, it’s hard to say but my understanding is that they are happy with written communication in BEC for now. Between you and me I imagine part of the motivation behind this is getting all of you off their backs about the fact that a multiple choice only exam section still takes the same amount of time to grade as more complicated sections like FAR, AUD and REG. But what do I know?
More Econ, Less IT – As for actual BEC content, IT will be more lightly tested while econ will carry more weight. Econ goes from 8-12% of questions to 16-20%. A new area, operations management, will make up 12 – 16% of questions you see. Business structure (partnerships etc) goes back to REG where it belongs and corporate governance takes its place with 16-20% of your questions coming from that area.
Narrowing Components – The new AICPA target weights have changed since last year. Before you were tested on five core components: communication, research, analysis, judgment and understanding. In 2011 (this is for all sections), you are tested on just three: knowledge and understanding, application of the body of knowledge and written communication. Knowledge and understanding make up the MCQ (80 – 90% of your score in 2011’s BEC exam) while written communication makes up the other 10 – 20%.
Will BEC be more focused than it has been since 2004? We wouldn’t put any money on that. It’s still the junk drawer of the CPA exam though it’s come quite a way since its debut with the computerized exam 6 years ago. As a person intimately acquainted with it, I feel it has a ways to go. But 2011 is an improvement and just like FAR probably easier for you guys in the long run.
Here’s a kooky idea! Pass all parts of the CPA exam within the allotted period of time! We must protect the public interest and not protect the interest of those who do not exert enough effort to study for the exam.
Bruh…you seem like someone who is a fun time. You still writing all your entries down using paper and pencil?
Bruh…is that the replacement of the old slang “homey”? Anyway, if you can’t pass all parts within 30 months you have no business being a CPA. Part of having the CPA license is DEDICATION.
Go ahead….Bruh, throw out some more four letter words. Here’s a four letter word for you…WORK!
You are a complete pussy. Go whine to your therapist that passing the exam is good for. 2 1/2 years. Maybe a Gofundme can help buy you some IQ points.
Complain about regulation, but don’t complain about an exam that a moron can pass.
Yes I once passed all parts of the CPA exam at the same time, way back in 1996.
Took me another ten years to get the experience requirement.
Time limits on the testing of content is part of the way to test the mastery of said content. It’s not the only indicator but it is still a powerful indicator of mastery. Honestly, the fact that you can test each of the sections separately as opposed to the entire content over 2 days makes the current system more than reasonable in order to ensure mastery. I became a CPA under the 2-day regime but I will be the first to say that it was unnecessarily rough and nothing more than a barrier to entry. The current system seems fair to ensure mastery of the content and to ensure the credibility of the CPA credential.
I have conflicting feelings about this one.
Against:
I do not think we should ease the standards because there are whole cohorts of people who worked themselves to the breaking point to pass these exams while working at the Big4.
Their performance at work wasn’t given a break because they were studying, while those that choose to ignore the exam weren’t judged either. So this only benefits those that never focused on the exams and choose to focus on work to only keep kicking the can down the road…which lead to expectations being raised for everyone.
It also tells you what people thought of the certification at the Big4, it was a cursory certification and not something taken seriously. It also just shows you how much emphasize has been placed on increasing revenue versus actually protecting the public or providing the client value for something a lot of the company see as a burden/cost to do business.
For:
I think the time limit is dumb, it does benefit you to pass all the sections as quickly as possible because all the sections tie together in some ways. But I also realize it’s unrealistic for most people nowadays to devote so much time to a certification that seems cursory in a lot of ways.
Meaning I am sympathetic to those not in the Big4 with a lot of responsibilities; whether its kids, elderly partners, or just life in general. Those are the people I think we shouldn’t penalize with a time limit. It’s just dumb to be honest and we are losing out on a lot of talent.
Conclusion:
I think because we cannot exempt people properly, the deadlines should just stay.
I’m more worried about giving those in the Big4 a pass because of the impact they have on the broader business community. I’m also saying this as someone who had a lot of personal obligations that impacted my early career at the Big4 where I made massive sacrifices to pass the CPA sections along with performing.
This isn’t the worst idea I’ve ever heard.