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Mastering Research Task-Based Simulations on the CPA Exam ...€¦ · Approaching Research TBSs 1....
Transcript of Mastering Research Task-Based Simulations on the CPA Exam ...€¦ · Approaching Research TBSs 1....
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Mastering Research Task-Based Simulations on the CPA ExamMay 9, 2017
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Introductions
• Denise ProbertCPA, CGMAWiley Director of Curriculum,Accounting Test Prep
• Julie SnowWiley CPAexcel Product Support
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Webinar Agenda
• What is the Research Task-Based Simulation (TBS)?• Authoritative Literature• Approaching the Research TBS– Searching the Authoritative Literature– Table of Contents– Record Your Citation!
• Test Drive the Research TBSs• Tips to Master the Research TBSs• How to Best Prepare• Raffle!• Ask the Expert
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What is the Research TBS?
Source: www.aicpa.org
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Authoritative Literature Provided on the CPA Exam
• REG Federal Taxation: Internal Revenue Code (IRC)• FAR Financial Reporting: Financial Accounting Standards
Board (FASB) Accounting Standards Codification (ASC)• AUD: Auditing, Attestation, and Ethics:– AICPA Auditing Standards– PCAOB Auditing Standards– AICPA Code of Professional Conduct– AICPA Standards on Accounting and Review Services– AICPA Attestation Standards
Source: AICPA Sample Test
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Authoritative Literature
Source: www.aicpa.org
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Approaching Research TBSs
1. Read situation and determine question asked2. Determine if you will search or if you will use the Table of Contents
a) Search1) What is an appropriate search term?2) Basic and advanced searches
b) Table of Contents– What is the main topic?3. Find citation and enter into work tab
Source: www.aicpa.org
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Searching the Authoritative Literature
• Identify the research question• What keywords are in the authoritative literature?• Remember – this is not your typical internet search engine!
What is the Appropriate Search Term?
Keywords: written representation letterSource: www.aicpa.org
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Searching the Authoritative Literature
• Individual words• “Phrases”• Accepts 0-9, a-z, A-Z• Hint: “not for profit” for “not-for-profit”
Basic Search
Source: www.aicpa.org
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Searching the Authoritative LiteratureAdvanced Search
• Enter one or more words
• 0-‐9, a-‐z, A-‐Z• Use one or more
of these search boxes
Within five words of each other
Use a space for special characters
= Grammatical variations
Source: www.aicpa.org
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Searching the Authoritative LiteratureSearch Results
ShortMediumLong
Source: www.aicpa.org
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Searching the Authoritative LiteratureOther Functionality
Source: www.aicpa.org
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Table of ContentsWhat is the Main Topic?
Source: www.aicpa.org
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Table of ContentsSearch Within!
Source: www.aicpa.org
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Record Your Citation!
Source: www.aicpa.org
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Test Drive Research TBSs
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Tips and Tricks to Maximizing Points!
• Read situation and determine the question being asked• Identify key search words • Start with what you already know • Filter down search results using logic• Utilize the “pop-up guides” found within the software to correctly
enter in your citation• Time management – Spend approximately ten minutes on research TBSs– Do not get caught up in the authoritative literature– Potential chance to make-up time!
• Leave nothing blank!
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How to Prepare
• Do your research beforehand– Generally one research TBS: AUD, FAR, REG appearing in third,
fourth, or fifth testlet– Time management: Keep an eye on the clock and limit the time you
spend on research TBSs– Be comfortable with the functionality of the exam-research software– Be comfortable with the professional standards• Presentation of content and structure/layout of the various
standards• Citation formatting
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How to Prepare (Cont’d)
• Resources– AICPA sample test:
http://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/TutorialandSampleTest/Pages/default.aspx
– Free six-month subscription to professional literature used in the computerized CPA Examination with valid NTS (note interface may be different from actual exam): https://nasba.org/proflit/
– Wiley CPAexcel: https://www.efficientlearning.com/cpa/
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Raffle Time!
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Ask the Expert