Candidates concerned about passing the CPA exam should check out our review of the best CPA Review courses. With CPA pass rates hovering around 50%, students should utilize all possible study resources when preparing for this exam. One way to save some time and ensure you are studying the correct concepts is by using a prep course. If you are looking for some more in-depth resources, check out a best CPA review course for reviews, discounts, and more. The New Jersey Society of Certified Public Accountants, or NJCPA, has some publicly available CPA resources and free CPA questions.

Draft responses to over a dozen examples and grade your performance based on our provided solution and criteria. TBSs require you to apply practical knowledge to a case-based scenario. They often ask you to make journal entries, conduct research, or match definitions. Learn from hundreds of samples with comprehensive explanations. MCQs feature one question with four potential answers, and make up the majority of each exam section. Practice more than 6,000 targeted problems with detailed rationales.

In addition to these sample questions, you’ll get detailed answer explanations designed to help you learn how to answer TBSs more quickly and easily. A section should take less than 45 minutes to complete, and you can save your progress and return later. Each test is roughly 2 hours long and focuses on specific areas of the test. Each test is made up of 5 testlets with 10 multiple choice questions and 6 task based simulations each. Despite not being the same length as the full CPA exam, these are still a great way to familiarize yourself with how the test works and what’s expected of you.

AICPA Practice Exam

In addition to career advice and guidance for passing the CPA Exam, NJCPA has free CPA Exam sample questions provided by Roger/U-World. If you’re not ready for the full 14-day trial, Wiley CPAexcel also has a free CPA Exam pop quiz. The AICPA released some of the https://online-accounting.net/, while Wiley’s expert authors wrote others. You’ll find 100 questions that cover all four sections of the CPA Exam. You can also work through as much of the Wiley test bank as you can. It’s also one of the biggest test banks available and includes answer explanations.

Also, the adaptive learning environment allows you to apply your CPA Exam knowledge efficiently. Over time, you should see your weak areas improve and your scores increase. This way, you can get a quick introduction to the CPA Exam and know what you’re getting into before you even apply.

Bottom Line – If your career is riding on your success on the CPA exam and you have the budget, a top CPA review course is a great option. You can check out our reviews of the best CPA prep courses for more information on the best fit for you. Learn more about each course with our in-depth CPA course reviews. CPA candidates can expect to put in some long hours while preparing to take this exam.

What’s the Best CPA Review Course Reddit reviews?

All contingent gains are not recognized until the underlying gain-causing event occurs (ie, the gain is realized). The conflicting treatment between probable contingent gains and losses is an application of conservatism. In other words, the recognition threshold for expected gains is higher than for expected losses. GAAP emphasizes conservatism when dealing with uncertainties because many F/S users prefer the risk of understated (not overstated) net income and net assets. Forward contracts (ie, forwards) are agreements to purchase or sell an item at a future date for an agreed price. Forwards in foreign currency can be used for speculation when there is an expectation to profit from changes in forward rates.

Reddit is a good website to check out if you want honest feedback from different CPA review course users. Wiley CPA Review is a fully integrated course that presents all of the CPA Exam content in bite-sized lessons so you can study at your own pace. In addition, with the 14-day free trial of Wiley CPAexcel, you can view the Wiley videos, which are both entertaining and informative.

Wiley CPA Practice Questions

Additionally, the AICPA has created a sample test for each CPA Exam section. And in these sample tests, of course, you’ll find free CPA questions. But still, I recommend reviewing the AICPA’s tutorial before your exam. After all, it will save you from any surprises on the big exam day.

Evaluating an entity as a going concern focuses on current assets and current liabilities. As a CPA hopeful who’s recently taken the CPA Exam (or who will soon be taking it), you’re likely focused on one goal—achieving a passing score. Here’s a look at what you need to know about obtaining your CPA Exam scores and the requirements you may need to fulfill after receiving a passing score. You will need to pass all 4 sections within an 18-month period. As you can see from my evaluation of Wiley CPAexcel, it is a course worth considering. And I also have an awesome discount you can use to save on your Wiley CPA review course.

Get Really Comfortable With AICPA Question Types

In essence, the AICPA tests recreate the Prometric testing experience and exam screens as much as possible. Therefore, you can use them to answer free CPA turbotax review — accounting software features review questions and familiarize yourself with the exam’s functionality. Consequently, each AICPA sample test also works as a free CPA practice test.

• After all, it will save you from any surprises on the big exam day.
• Unlike other companies and organizations on this list, Wiley only offers a set of free exam questions.
• Draft responses to over a dozen examples and grade your performance based on our provided solution and criteria.
• GAAP emphasizes conservatism when dealing with uncertainties because many F/S users prefer the risk of understated (not overstated) net income and net assets.

The AICPA sample tests only include answer explanations for the task-based simulations or TBSs. Therefore, as you answer the TBS questions, you can see the correct answers. Each answer explanation links to a specific AICPA Blueprint, which outlines the exam topics.

In this scenario, Rein, Inc.’s net DTL decreased during the year, which creates a deferred tax benefit of $6,000, as shown below (Choice A). (Choice C) A decrease in government spending is an example of fiscal, not monetary, policy. Although this decrease would tighten the money supply for businesses and consumers, it would not necessarily impact the interest rates charged by banks.

As the makers of the CPA Exam, the American Institute of Certified Public Accountants (AICPA) has created a free CPA Exam tutorial and sample tests. In my opinion, this resource is a must-try for all CPA Exam candidates. Maximise your chances of exam success by accessing our study support resource library. Plus, each test comes with a recommended time limit— so you know ahead of time what you’re getting into. That way, you can easily put aside the time instead of accidentally starting a test that takes longer than the study period you’ve set for yourself. Aside from CPA review questions, NJCPA offers another free resource.

Although Gleim’s primary focus is their full CPA review course, they also offer a set of free CPA study materials. These come in a wide range of formats and cover topics relevant to all 4 sections of the exam— so you won’t be stuck doing the same study exercises over and over again. Each section of the CPA exam — such as Financial Accounting and Reporting (FAR) or Business Environment and Concepts (BEC) — has its own set of free questions.

NINJA CPA

The accounting treatment of contingent losses is based on their probability of occurrence, which may be remote, reasonably possible, or probable. If a loss is reasonably possible, it must be disclosed in the notes to the financial statements (F/S). This allows F/S users to be aware of the potential loss, including its range of values. However, no accrual is recorded because the loss is still not likely to occur. Prep courses will cover all materials that will be tested on the exam.

The primary cause of fluctuations in business activity is the level of spending (ie, aggregate demand). Secondary causes include interest rates, consumer confidence level, availability of capital, and expectations about the future. Business cycles are fluctuations in economic output and are generally measured by the rise and fall in gross domestic product (GDP).