[Lentilcounter]

During one of the most recent AICPA/NASBA webinars, the AICPA presenter bought up the CPA exam blueprints available on the AICPA website. He said that we should reference these blueprints in preparing for the exams and then there should be no surprises. He also said that any content group/topic that is tested at the analysis level is fair game for a simulation. I have created a short summary below. While the language in the blueprints can be somewhat vague, I think if you at least have a mastery of the topics below, simulations shouldn’t scare you.

Balance sheet/statement of financial position
A) detect, investigate and correct discrepancies while agreeing the balance sheet amounts to supporting documentation
B) calculate fluctuations and ratios and interpret the results while reviewing comparative balance sheets

Income statement/statement of profit or loss
A) detect, investigate and correct discrepancies while agreeing the income statement amounts to supporting documentation
B) calculate fluctuations and ratios and interpret the results while reviewing comparative income statements

Statement of comprehensive income
A) detect, investigate and correct discrepancies while agreeing the statement of comprehensive amounts to supporting documentation

Statement of changes in equity
A) detect, investigate and correct discrepancies while agreeing the statement of changes in equity to supporting documentation

Statement of cash flows
A) detect, investigate and correct discrepancies while agreeing the statement of cash flows to supporting documentation
B) derive the impact of transactions on the statement of cash flows

Notes to the financial statements
A) compare the notes to the financial statements to the financial statements and supporting documentation to identify inconsistencies and investigate those inconsistencies

Consolidated financial statements (including wholly owned subsidiaries and noncontrolling interests)
A) detect, investigate and correct discrepancies while agreeing the consolidated financial statement amounts to supporting documentation

Cash and cash equivalents
A) reconcile the cash balance per the bank statement to the general ledger
B) investigate unreconciled cash balances to determine whether an adjustment to the general ledger is necessary

Trade receivables
A) prepare a rollforward of the trade receives account balance using various sources of information
B) reconcile and investigate differences between the subledger and general ledger for trade receives to determine whether an adjustment is necessary

Inventory
A) reconcile and investigate differences between the subledger and general ledger for inventory to determine whether an adjustment is necessary
B) prepare a rollforward of the inventory account balance using various sources of information

Property, Plant, and Equipment
A) prepare a rollforward of the property, plan, and equipment account balance using various sources of information
B) reconcile and investigate differences between the subledger and general ledger for property, plant, and equipment to determine whether an adjustment is necessary

Payables and accrued liabilities
A) reconcile and investigate differences between the subledger and general ledger for accounts payable and accrued liabilities to determine whether an adjustment is necessary

Revenue Recognition
A) interpret agreements, contracts and/or other supporting documentation to determine the amount and timing of revenue to be recognized in the financial statements
B) reconcile and investigate the differences between the sales subledger and the general subledger to determine whether an adjustment is necessary

Account changes and error corrections
A) derive the impact to the financial statements and related note disclosure of an accounting change or an error correction

Contingencies and commitments
A) review supporting documentation to determine whether a commitment or contingency requires recognition or disclosure in the financial statements

Leases
A) interpret agreements, contracts and/or other supporting documentation to determine the appropriate accounting treatment of a leasing arrangement and prepare the journal entries that a lessee should record.

Subsequent events
A) derive the impact to the financial statements and required note disclosues due to identified subsequent events

BEC = 79

AUD = 79

FAR = 84

REG = 86

Prayer + AICPA blueprints = my success

BEC = 72 (6/08/16)
FAR = ?
REG = ?
AUD = ?

[Ana]

WOW, thank you for posting this. Seriously I'm so thankful.

BEC - 78
AUD - 75
REG - 64, 77
FAR - 73, 73, 73, 82
Ethics: 74, 84, 98
Finally done after 23 months.

[Lentilcounter]

@Ana np. The key now is to find simulations in whatever prep software you are using that touch on these topics and points.

BEC = 79

AUD = 79

FAR = 84

REG = 86

Prayer + AICPA blueprints = my success

BEC = 72 (6/08/16)
FAR = ?
REG = ?
AUD = ?

[Ana]

I haven't seen this detail of SIMS content. Wondering if they feel bad for us and are kicking us a bone. Hard to believe though.
You have Becker and Ninja? We could come up with which match up and concentrate on those SIMS. We gotta pass this time Lentil!!!

I think every one that say, “detect, investigate, and correct” relates to a DRS

BEC - 78
AUD - 75
REG - 64, 77
FAR - 73, 73, 73, 82
Ethics: 74, 84, 98
Finally done after 23 months.

[Lentilcounter]

Yup. I have Becker, Ninja, and Wiley. I'm going through the Ninja sim topic list which is available on another thread.

BEC = 79

AUD = 79

FAR = 84

REG = 86

Prayer + AICPA blueprints = my success

BEC = 72 (6/08/16)
FAR = ?
REG = ?
AUD = ?

[Earla Riopel (NYCARE)]

It seems like, AICPA wants us to pay attention on whatever included on its CPA Exam Blueprint: https://www.aicpa.org/BecomeACPA/CPAExam/ExaminationContent/DownloadableDocuments/cpa-exam-blueprints-effective-20170401.pdf

I sat for all 4 sections in 2017 Q3, and this is what my opinion on actual SIMs:

For AUD,
AICPA wants candidates to act like auditors in real world.
What is an audit?
An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern. It also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. ~ Wikipedia

For FAR,
They want candidates to be bookkeepers/accountants, who know how to prepare financial statements, and even troubleshoot in times.
What is Accounting?
Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses (i.e. sole proprietorship, partnership, corporations), government & NPOs.

For REG,
They want candidates to be tax experts and business law geniuses (acting like lawyers – specialized in Business Law).
What is a Tax preparer?
A tax preparer is a professional that is qualified to calculate, file and sign income tax returns on behalf of individuals and businesses. They can also represent the taxpayer during IRS examinations of tax returns. ~ Sokanu

For BEC + REG (Business Law)
They want candidates to be management/cost accountants, business managers, business owners, investment investors/advisors, computer techies and business law experts (acting like business law – lawyers) and know the following areas:

Management accounting is a profession that involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization's strategy ~ IMA

Management information system (MIS) refers to the processing of information through computers and other intelligent devices to manage and support managerial decisions within an organization. ~ Wikipedia

Business Law consists of many different areas taught in law school and business school curricula, including: Contracts, the law of Corporations and other Business Organizations, Securities Law, Intellectual Property, Antitrust, Secured Transactions, Commercial Paper, Income Tax, Pensions & Benefits, Trusts & Estates, Immigration Law, Labor Law, Employment Law and Bankruptcy. It is a branch of law that examines topics that impact the operation of a business. ~ Wikipedia

So basically, the SIMs part of the exam is a test for candidates, and by passing all 4 sections, the new CPAs are ready for the real world.

AUD - 49
BEC - NINJA in Training
FAR - NINJA in Training
REG - 55

Passed: AUD (75%'08/77%'17), REG (76%'09) & BLaw(77%'99); highest on FAR (63%'11/'15) & BEC (63%'11). Credit Hours: USA(PH)-BCom'85(4yr-grandfathered); UBC-(DAP'02/'19); DC-(BBA-Acctg.'22-4th yr)=over 150 hrs credits

[Lentilcounter]

The AICPA presenter heavily emphasized these CPA exam blueprints and how a CPA candidate should look at them during their study process. A poll was taken of everyone listening in and very few people had heard of these blueprints. He seemed very disappointed.

BEC = 79

AUD = 79

FAR = 84

REG = 86

Prayer + AICPA blueprints = my success

BEC = 72 (6/08/16)
FAR = ?
REG = ?
AUD = ?

[Lentilcounter]

Here is the list of Ninja FAR sims. I have gone through and annotated the topics with a little more detail.

2017 NINJA MCQ FAR SIMS

FAR Simulation 1: Cash Flow
FAR Simulation 2: Capital Accounts
FAR Simulation 3: Research
FAR Simulation 4: Long-Term Receivables
FAR Simulation 5: Current portion of long-term receivables
FAR Simulation 6: Income Statement – interest revenue + gains recognized on the sale of assets
FAR Simulation 7: Research
FAR Simulation 8: Journal Entries – Leases
FAR Simulation 9: Balance Sheet – Intangibles
FAR Simulation 10: Income Statement – Expenses from intangible transactions

FAR Simulation 11: Research
FAR Simulation 12: Units of Production – depreciation
FAR Simulation 13: Sum-of-the-Years'-Digits – depreciation
FAR Simulation 14: Classification of securities
FAR Simulation 15: Research
FAR Simulation 16: Price – bonds
FAR Simulation 17: Journal Entries – bonds
FAR Simulation 18: Schedule – cost recovery method
FAR Simulation 19: Journal Entry (1) – nonmonetary transactions
FAR Simulation 20: Journal Entry (2) – nonmonetary transactions

FAR Simulation 21: Research
FAR Simulation 22: Gains and Losses – income statement classification
FAR Simulation 23: Treasury Stock – cost method
FAR Simulation 24: Dividend – transaction journal entries
FAR Simulation 25: Par Value Method – treasury stock
FAR Simulation 26: EPS – earnings per share
FAR Simulation 27: Classification – accounting changes and error corrections
FAR Simulation 28: Accounting Treatment – retrospective, restatement, prospective approach classification
FAR Simulation 29: Chart – accounting changes and error corrections
FAR Simulation 30: Liquidity and Efficiency – balance sheet and income statement ratios

FAR Simulation 31: Leverage and Profitability – balance sheet and income statement ratios
FAR Simulation 32: Depreciation Exp. – depreciation
FAR Simulation 33: Accumulated Depreciation – depreciation
FAR Simulation 34: Gain/Loss – disposal of assets
FAR Simulation 35: Amortization – of intangibles
FAR Simulation 36: Adjustments – accruing for events
FAR Simulation 37: Research
FAR Simulation 38: Average Cost – inventory valuation
FAR Simulation 39: LIFO – inventory valuation
FAR Simulation 40: FIFO – inventory valuation

FAR Simulation 41: Theory – financial statement disclosure/adjustments
FAR Simulation 42: Accounting Treatment – stockholder's equity
FAR Simulation 43: Research
FAR Simulation 44: Funds – governmental accounting
FAR Simulation 45: Basis – governmental accounting
FAR Simulation 46: Major Funds – governmental accounting
FAR Simulation 47: CAFR – governmental accounting
FAR Simulation 48: Bond Issue Price – bonds
FAR Simulation 49: Interest Expense – bonds
FAR Simulation 50: Bonds and the balance sheet

FAR Simulation 51: Allowance Calculation – AR aging schedule
FAR Simulation 52: Journal Entry – AR aging
FAR Simulation 53: Research
FAR Simulation 54: Constr. Interest Capitalization – Construction interest capitalization
FAR Simulation 55: Research
FAR Simulation 56: Adjusted Trial Balance – adjusting a trial balance
FAR Simulation 57: Intangible Asset Entries
FAR Simulation 58: Research
FAR Simulation 59: Contingent Liabilities – accrual or disclosure?
FAR Simulation 60: Bonds – journal entries

FAR Simulation 61: Research
FAR Simulation 62: Research
FAR Simulation 63: R&D Activities – capitalize, amortize, expense, etc. (a type of DRS)
FAR Simulation 64: Cash Reconciliation – bank rec
FAR Simulation 65: Research
FAR Simulation 66: Interest Expense – loan journal entries
FAR Simulation 67: IFRS Business Acquisition
FAR Simulation 68: Research

BEC = 79

AUD = 79

FAR = 84

REG = 86

Prayer + AICPA blueprints = my success

BEC = 72 (6/08/16)
FAR = ?
REG = ?
AUD = ?

[Anonymous]

I have tried reading these blueprints but I find them overwhelming. I figure that the review courses have read the blueprints and know how and what we need to know. If I know what I am doing in my MCQ and have at least done each SIM once, I will be well prepared….

[Juice23]

I think it's safe to say that the major exam prep companies build their material around the blueprints. Sure, I imagine knowing what the blueprints say might help conceptually, but I don't know if its necessary to learn them if diligently using reputable prep material already.

AUD - NINJA in Training
BEC - NINJA in Training
FAR - 78
REG - NINJA in Training

BBA, MA, MA.

"Philosophy is a battle against the bewitchment of our intelligence by means of language." - Wittgenstein

[jeff]

NINJA MCQ is not built around the blueprints … Q2/Q3 pass rates from those reporting scores is in the 90s.

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[Juice23]

Interesting – thanks for the correction.

I guess then I would adjust my statement – based on reading the blueprints, I doubt there is anything there that you won't find already included in reputable exam prep material.

AUD - NINJA in Training
BEC - NINJA in Training
FAR - 78
REG - NINJA in Training

BBA, MA, MA.

"Philosophy is a battle against the bewitchment of our intelligence by means of language." - Wittgenstein

[Ana]

I'm working on adding the Becker Sims that line up with these blueprints. Hope to have it up here today. Thanks for all your work Lentil.

BEC - 78
AUD - 75
REG - 64, 77
FAR - 73, 73, 73, 82
Ethics: 74, 84, 98
Finally done after 23 months.

[Ana]

Just realized the blueprint doesn't refer to govt or nap. Safe to assume there won't be a SIM on it?

BEC - 78
AUD - 75
REG - 64, 77
FAR - 73, 73, 73, 82
Ethics: 74, 84, 98
Finally done after 23 months.

[Lentilcounter]

@Ana Thanks.

@Jeff

With regards to your comment, “NINJA MCQ is not built around the blueprints … Q2/Q3 pass rates from those reporting scores is in the 90s.”

Did these people use Ninja products exclusively? Ninja MCQ, Ninja notes, etc.? A lot of people on this site seem to supplement Ninja MCQ with other study systems such as Becker, Wiley, Gleim, and Roger. I understand that the Ninja business model has changed and you can no longer buy standalone MCQ to get additional practice.

If those reported scores are based on people who used other study systems in conjunction with Ninja, can you really say that there is a pass rate in the 90s for people who use Ninja?

BEC = 79

AUD = 79

FAR = 84

REG = 86

Prayer + AICPA blueprints = my success

BEC = 72 (6/08/16)
FAR = ?
REG = ?
AUD = ?

[Lentilcounter]

My goal in posting this thread and referencing the blueprints was to say that the AICPA wants us to look at these. They made it a point in the last webinar series and spoke about it for several minutes. I love knowing exactly what I am being graded on because it makes preparation easier. I'm not saying that you should study and memorize these blueprints. Just make sure that after studying, you can do all the things it says you should be able to do.

BEC = 79

AUD = 79

FAR = 84

REG = 86

Prayer + AICPA blueprints = my success

BEC = 72 (6/08/16)
FAR = ?
REG = ?
AUD = ?

[Author]

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