GAAP recommends handling the receiving of scores in this way:
Studying hours are to be accrued evenly over the allocated study period as deferred cpa exam asset. This includes taking the actual exam.
Using your judgment, if you feel as though you failed, expense all hours immediately and include an explanation in a related note disclosure.
If you feel as though you passed, include this gain contingency as a note disclosure, but include allocate a 25% "bad fail expense" to allow for conservative recognition of success.
When scores are reported, if you failed, expense immediately if you already have not.
If you pass, recognize all study hours as CPA Exam Asset, and amortize over an 18 month period.
Upon Passing all four exams, transfer all study hours to Goodwill. Lack of CPE courses results in a impairment of this goodwill.
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