ch09 - CHAPTER 9 Conclusion and Future Information...

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CHAPTER 9 Conclusion and Future Information CONCLUSION Chapter 9 summarizes by chapter the many questions that continue to remain unanswered. We must work with the available information and pledge to help students meet one of their most important professional goals – passing the CPA exam. The AICPA plans to launch the computer-based CPA exam no later than May 2004. The new exam is a major change. As of the publication date of this supplement, the AICPA has released 50 to 60% of the detailed information that is necessary to completely prepare for the new exam. The AICPA examination’s team has worked very hard to communicate to CPA exam users what they know. From the information that has been shared, it is clear that there the AICPA has made great progress, but there is much to complete. Yes, the computer-based test (CBT) is a work in process. By early 2004, the information will be available. This leaves faculty members, review providers, and CPA candidates with a short time frame to prepare. It is imperative that we begin now to do what we can. This chapter summarizes the open questions. Chapters 1 through 8 identify what we can do now to assist students. A quarterly newsletter, entitled The CPA Connection, will be used to update all faculty members who adopt the 11 th edition of Intermediate Accounting or Fundamentals of Intermediate Accounting. Please stay tuned for further details, as there is much information yet to be finalized. The released information is in summary form. Exam candidates have not been given computer-based tools to use as practice models. The AICPA has encountered problems 85
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86 Chapter 9 Conclusion and Future Information meeting deadlines and releasing key details. For example, in a meeting of exam providers in mid-November 2002, attendees were told that by the middle of January 2003, the exam website would be updated to provide candidates with examples of simulations and multiple-choice formats that candidates could use to begin their preparation. According to Gregory Johnson, Director of the AICPA Examinations Team, the release date has been postponed from mid-January to mid-March. We have no choice but to wait for this key information. In the mean time, university faculty can begin to share the information that has been published in AICPA releases. Presently, the two most authoritative sources of information are the webiste and the AICPA publication entitled Structure, Length, and Examination Content Specifications for the Uniform CPA Examination , dated June 14, 2002. The publication is available in downloadable form from the AICPA web site at . Most of the information in this publication has been obtained from meetings with the
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This note was uploaded on 05/02/2011 for the course ACCT 3341 taught by Professor Dr.ramaswamy during the Spring '09 term at University of St. Thomas-Texas.

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ch09 - CHAPTER 9 Conclusion and Future Information...

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