A study by the Association of International Certified Professional Accountants (AICPA) shows that about 45% to 55% of first-time CPA exam takers fail to achieve a passing score in the test. A solid understanding of the content covered in CPA online classes can ensure aspiring accountants pass the test and get certified. In this guide, our accountancy exam experts outline CPA units, certification requirements, and the best CPA programs. We also offer CPA online class help, including assignment takes, discussions and exams.
Sections of CPA Online Classes
There are four core sections: financial accounting and reporting (FAR), auditing and attestation (AUD), business environment and concepts (BEC), and regulation (REG). However, following the announcement by the National Association of State Boards of Accountancy to replace the BEC section with three additional discipline areas, the content might change in 2024. The following is a description of the four core areas of CPA classes online today:
Financial Accounting and Reporting
FAR lessons explain the process of assessing the financial performance of various entities in a fiscal year and reporting them to relevant authorities, such as the IRA. Students learn to record revenues and income from sales and expenses incurred, assets acquired or owned, and liabilities such as debts, rent, and loans.
They also discover how to break down financial accounting information through balance sheets, income statements, cash flow statements, and shareholder equity statements. The core principles of accrual are also taught in CPA online classes, including:
- Revenue recognition principle
- Cost principle
- Matching principles
- Full disclosure principle
- Objectivity principle
Auditing and Attestation
The AUD section covers the entire auditing process. Students learn to conduct objective analysis of financial statements, assess risk in economic affairs and transactions. They can also prepare planned responses based on auditing evidence. On top of that, they learn to verify information, processes, and procedures presented during an audit and determine their authenticity. The lesson also covers general principles of ethical and professional duties, primarily the auditing code of conduct. All these are found in the AICPA Ethics Library.
Business Environment and Concepts
In the BEC module, students go through the internal and external factors impacting a business and its operations. They learn about the various business structures, like limited liability companies (LLCs) and LLPs, and their formation, management, and capitalization processes. They also discover details on inflation, deflation, business cycles, market influences, and exchange and currency rate fluctuations.
Furthermore, the lesson explains financial management strategies and models, including long- and short-term financing, accounts payable, receivable, and liquid asset management. Planning and budgeting are also essential topics covered in CPA online classes, as well as the role of information technology in data management, e-commerce, and disaster aversion.
Regulation
The REG part of the class explains federal taxation, business law, taxation ethics, and professional responsibilities. Federal tax takes up half the lesson and covers the taxation of individuals, public and private entities. It also covers property transaction taxation of land and house sales and purchases, and estate ownership transfers.
Business law addresses contract negotiations, agency and business structure formation, and creditor and debtor relations. It also explains the federal and state laws regulating business activities in the U.S. Lastly, students learn the moral and ethical responsibilities of tax practice, proper tax reporting procedures, and licensing and disciplinary actions for violating set standards.
Certification Requirements
After completing the CPA online classes, students must take the uniform CPA examination and attain the required passing score. Some states also ask prospective accountants to complete one year on the job experience or 1,800 to 2,000 working hours. The experience also include compilation auditing, and financial management services. Satisfying the state requirements helps candidates get the certificate to practice accounting within their jurisdiction.
Popular CPA Online Classes
CPA online classes cover the four core sections tested in the CPA exam. Some programs also provide individual sections for students specializing in specific areas, like financial accounting and reporting. Students should choose an online class with the content they need.
The following are some schools offering top online CPA classes:
- UC Berkeley: This California-based school offers 100% CPA online classes that prepare students for the exam.
- Clarion University: Students can complete the CPA online classes from this university and sit for the certification exam within 12-months.
- Becker CPA: This course provides a robust online learning class that covers the four core sections through study tools and webinars.
- Auburn University: Learners can earn a certificate in accounting through the Auburn online program and take the CPA exam or pursue an accounting degree.
Get Expert Help with CPA Online Classes Today
CPA online classes are convenient and flexible. However, students find it difficult to complete the classes due to lack of time and professional or personal obligations. Our experts can take CPA online classes for busy students. They ensure they complete the course content and pass the exam.
