How are CPA candidates doing with CPA Evolution? The first pass rates are out and they're very telling. Here's my thoughts on what the first CPA Evolution pass rates mean (from the AICPA):
The FAR Exam is Still Undefeated.
Coming in at the lowest pass rate of all sections of the CPA exam is Financial Accounting and Reporting. The foundational concepts of accounting still seem to be the hardest for candidates to grasp. This continues the narrative that FAR is the hardest section of the CPA exam.
Depending on who you ask, though. I didn't think FAR was that difficult and passed it on the first try. This is the section of the CPA exam that I feel like candidates need to know more than anything. So why are the pass rates habitually the lowest than any other section?
CPA Candidates Need Help Preparing for the CPA Exam
Imagine spending thousands on review courses and getting that FAIL notification. There’s a need for a space for CPA candidates to get the help they need with the CPA exam. In my CPA Exam Virtual Community, there’s practice questions, tutorials, and study guides to help you master the frequently tested topics on all sections of the CPA exam. We also have monthly accountability sessions where future CPAs get to share their struggles and get advice to stay motivated and focused. If you’re an aspiring CPA or know one, here’s an invite to explore the community that was built just for them.
Is The TCP Exam a Cakewalk?
Is TCP the new BEC? The section of the CPA exam that candidates think is easy? It's mind-blowing that more than 80% of candidates passed TCP.
Conversely, BAR includes a lot of BEC content, yet it has the 2nd lowest pass rate. I don’t want candidates to take this high pass rate as an indicator that TCP is easy. What if next quarter’s pass rate for TCP is half of what it is now? Which leads me to my next point…
I Need More on These CPA Exam Pass Rates
This first report of CPA Evolution pass rates is cool. Aside from FAR, I'm not putting too much emphasis on this because there's too many variables. Did fewer students take FAR? Is TCP content easier to understand than say, IT in ISC, or cost accounting in BAR? Is this an indication of where aspiring CPAs want to focus their careers?
In true accountant fashion, I need more data to tell this story. Let me see at least 3 more quarters of data before I open my folding chair on this hill.
I summarized the changes to the CPA exam in this replay. Watch this for what candidates need to know about CPA Evolution.
~Nikki
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