Preparing for the US CPA Exam 2024: The BEC Section's Impact on changes in the US CPA Study Materials

The field of accounting and finance is going through major transformations owing to rapid technological advancements and the need for accountants to incorporate modern business accounting requirements into their accounting skill sets. In response to this dynamic shift in the accounting world, the AICPA (American Institute of Certified Public Accountants) and NASBA (National Association of State Boards of Accountancy) have brought in the CPA Evolution 2024 by revamping the Uniform CPA exam section format by introducing a core-plus-discipline licensure model. However, this change has left US CPA course candidates wondering about their preparation strategy and, most importantly, finding relevant study materials for the CPA Exam 2024 changes.

In this blog, we will discuss the new CPA exam changes, how to navigate through these new changes, and how to find the right blueprint study materials. But first, it's important to understand how and why the US CPA exam is transforming.

Key Takeaways

• New CPA Exam Structure: Changes for CPA Syllabus

• What is new in CPA Exam 2024?

• 2024 CPA Exam Pattern: Study Plan

Why is CPA Evolution Required?

The accounting profession is continuously evolving with the changing landscape of businesses everywhere. Modern-age US CPAs are required to adapt to these changes and incorporate technology into their everyday work to navigate through the increasingly complex requirements of most businesses today. In response to such changes, the AICPA and NASBA have periodically introduced changes to the US CPA curriculum to train CPAs for future challenges. The US CPA Evolution brought by the AICPA and NASBA would ensure that the current exam is competent and relevant to train concerned accountants with the necessary skills and knowledge to protect the interests of the public in today's world.

What is new in CPA Exam 2024?

The US Certified Public Accountant is one of the highly competent professional certifications in the field of accounting and finance. Conferred by the AICPA, candidates need to pass the CPA exam to obtain the CPA license for professional practice. The Uniform CPA exam is a four-part test consisting of AUD, FAR, BEC, and REG. CPA Candidates need to clear all four exams within an 18-month exam window chosen at their convenience out of available CPA exam dates.

This CPA Evolution introduces the "Core + Discipline" model, which is set to become functional from January 1, 2024. The 2024 BEC section of the Uniform CPA exam will be replaced by new disciplines, namely, Tax Compliance & Planning (TCP), Business Analytics & Reporting (BAR), and Information Systems & Controls (ISC). As far as AUD, FAR, and REG are considered, they will now be considered as "Core exam" sections. There will be significant 2024 CPA exam changes in the BEC section of the exam content. 

The CPA Evolution changes are expected to bring uniformity to the CPA examination while also incorporating disciplines that require deeper knowledge and understanding of the subjects to shape a US CPA's skills. It has put additional emphasis on learning the advanced and critical skills of information technology, risk assessment, system governance, and accounting analytics. Overall, the current CPA exam changes will lead to a positive realignment of the skill set necessary to align with the goals and requirements of the Big Fours and other such multinational companies and accounting firms. 

New CPA Exam Structure: Changes for CPA Syllabus

The CPA Evolution will follow a Core+Discipline model, which entails that the Uniform CPA exam shall now have three sections and one discipline section. BAR, ISC, and TCP (discipline sections) will now replace the BEC section, and they will be regarded as the "discipline" sections. Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), and Taxation and Regulation (REG) shall now be considered as "core" sections. While the core sections are mandatory for all, candidates can choose one discipline out of the three discipline sections, that is, BAR, ISC, and TCP.

The core sections will continue to test candidates based on their knowledge and skills in auditing, taxation, and accounting required to become a US CPA. Additionally, candidates will be required to have further depth in the knowledge of one of the three discipline subjects. The BAR section is an extension of FAR, while the ISC section is an extension of AUD, and the TCP is a continuation of the REG core. So, candidates can choose their discipline based on their strengths. 

To sum it up, the new CPA syllabus is as follows:

• Core Sections (all 3 are mandatory)

1. Auditing and Attestation (AUD) 
2. Financial Accounting and Reporting (FAR)
3. Taxation and Regulation (REG)

• Discipline Sections (choice of any 1)

1. Business Analytics and Reporting (BAR)
2. Information Systems and Controls (ISC)
3. Tax compliance and Planning (TCP) 

CPA Exam Evolution:

The number of exams required to take does not change with the new changes to the CPA exam, but the introduction of a new section can make you wonder how the Uniform CPA exam format will change. The US CPA exam shall be a 4-part test with a total of 16 hours. However, different sections will have different numbers of multiple-choice questions and task-based simulation questions.

The new format, as per the latest CPA test changes, is as follows:

Sl. No.	Name of the Section	Time Allotted	No. Of MCQs	No. Of Task-based Simulations
1.	AUD (core)	4 hours	78	7
2.	FAR (core)	4 hours	50	7
3.	REG (core)	4 hours	72	8
4.	BAR (discipline)	4 hours	50	7
5.	ISC (discipline)	4 hours	82	6
6.	TCP (discipline)	4 hours	68	7

 

2024 CPA Exam Pattern: Study Plan

With the new CPA changes aboard and the elimination of the BEC section from the CPA syllabus, it can be confusing as well as challenging to cope with the changing exam format and syllabus. This is especially true for candidates who are in the middle of preparation and are planning to take the BEC exam soon. While the BEC section is going away, it may not be completely done away with; rather, some of its contents may be reassigned and realigned to some of the other sections in the exam. Additionally, since the contents of the core sections will not change, there is nothing much to worry about!

However, it can still feel overwhelming with the introduction of new sections. Here's a summary of the three combinations offered by the AICPA, which can help you understand which discipline section may be best for you.

• AUD+FAR+REG+BAR: If you have a deep interest in core accounting subjects and wish to specialize in them, this is the best option for you. 
• AUD+FAR+REG+ISC: If auditing piques your interest and you also have a knack for technological subjects, this is right for you.
• AUD+FAR+REG+TCP: If taxation and regulations are your niches, this combination will suit you best to demonstrate your taxation skills. 

CPA Changes 2024: CPA Study Material

With the addition of discipline sections in the CPA syllabus, study material may be hard to find. Therefore, it is best to enroll yourself in a comprehensive CPA USA certification course where you can not only benefit from the relevant study materials and guides but also get guidance and expertise from industry experts to guide you through the discipline sections as well as assist you in gaining a deeper knowledge of the core sections. It would enhance your chances of clearing the CPA exam in 2024, despite the upcoming changes.
 Prepare for The New CPA Exam

CPA Exam Changes 2024 will be a huge change for candidates who are currently in their 18-month exam window. Even though the BEC section will cease to exist after December 31, 2023, the good news is that the credits obtained by clearing the exam before this date will get carried over to next year just as normal as it would be for any other exam. Any of the four exams taken before January 2024 will allow carrying over credits without discrimination, thereby allowing obtaining the CPA license as usual. Therefore, candidates must plan their exams well in advance and prepare for any scenario to align their exam schedule as per the change and their comfort.

There are three important dates to look out for in the last quarter of 2023 with regards to the CPA exam:

• October 1: Last day NASBA will process notices to schedule (NTS) for first-time BEC candidates.
• November 12: The last day NASBA will process NTS for BEC re-exam candidates.
• December 15: Last day to sit for any section of the CPA Exam in 2023, including BEC.

To look for US CPA exam updates for important dates, please keep track of the exam dates provided for a particular testing region to not miss any date.

Now that you have an idea of when to schedule your exam, here's how you can plan your exams in 2023 and 2024 based on your level of preparation.

If you are planning to schedule all your exams before January 2024, you should go first with the one you are most comfortable with. Given that BEC has the highest passing rates historically, it would be your first choice of exam. It is recommended to take the CPA USA exam in 2023 in the following order: BEC>AUD>FAR>REG. Even if you do not want to take all the exams this year but still want to pass the BEC section, you can schedule any exam for later in 2024 within your 18-month exam window.

Now, you know that each discipline section is related to one of the core sections, so if you are preparing to take the exam after January 2024, it is recommended to take the discipline section exam immediately after its related core section exam. This will give you the leverage to gain a deeper knowledge of the concepts before you engage with the other exams at hand.

How to Choose a Discipline—BAR, TCP, & ISC?

The key to choosing the right discipline section to pass your CPA exam in 2024 is to choose the one that you feel like you're most likely to pass easily. This would take off the pressure to perform adequately in other sections in case you falter with the discipline section. If you're confused, taking up BAR can be the best choice as its contents have the most similarity with the university-level curriculum. If you have a strong foundational knowledge of taxation, TCP might be better suited for you. Remember, any discipline you take will lead you to one common goal—the CPA License. There's a bonus option here in case you fail; you can try again with a different discipline. So, go ahead with what you're most confident about and ace the Uniform CPA exam!

 

Conclusion

The decision of the AICPA and NASBA to introduce the new disciplines and eliminate the BEC section from the CPA exam as part of the CPA Evolution 2024 is brought about with the vision to align the accounting curriculum more in line with the requirements of businesses in today's world. These changes aim to instill a deeper understanding of accounting and finance to train US CPAs to better tackle the challenges of the future. As welcoming as the change is, it brings the uncertainty of the availability of relevant study materials to refer to for the Uniform CPA exam. NorthStar Academy (NSA), in association with Becker, offers the best study guides and reference material for the US CPA exam, now in a new format for the new CPA changes.

Enroll yourself in a US CPA certification course today and get your hands on the updated CPA exam guides along with training and guidance from expert mentors such as M. Irfat Sir, who has helped over 15,000 candidates clear the US CPA exam so far.

So, if you are looking for the best CPA study guides, you are in the right place! Enroll today and equip yourself with the necessary skills to tackle the CPA exam in 2024!