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

[JRM]

I think this is a pretty spot on list. I took my exam in Oct.

[Recked]

I believe the SIMS hit both Application and Analysis levels.
The analysis level of FAR is only 25-35% but the TBS represent 50% of total score.
For example preparing a cash flow via direct or indirect is listed under application.
I have yet to sit for FAR but just be careful not to skip application to focus on analysis.

Also, as per the blueprint, page 49.
Areas I and II have the highest concentration of analysis tasks.
Page 47 shows what are included in areas I and II.
https://www.aicpa.org/BecomeACPA/CPAExam/ExaminationContent/DownloadableDocuments/cpa-exam-blueprints-effective-20170401.pdf

There is really not much checked off for analysis in Select Transactions (3) and State and Local Gov't (4)

[Lentilcounter]

@reckedracing

Good points. It's a hierarchy of testing starting with remembering and understanding at the bottom, application, analysis, and evaluation at the top. So if you can achieve the analysis level of an objective, then doing any questions or problems that ask something at a remembering & understanding or application level will be easy. The only exam currently that tests evaluation is audit.

Are you a car enthusiast? Just wondering considering the screen name.

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

[Recked]

I was, very much a gear head.
I spent my 20's in a garage wrenching on cars every available moment, when I should have been working on this exam.
Live and learn.

[Lentilcounter]

Same! I blame cars and wrenching. I should have been done with this exam 5 years ago. One last car question before people kill me. Favorite car?

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

[Wannafree]

@Lentil ,did you see the Pension in Blueprint ? It has no analysis.Even in application I don't see Net Pension expense ,SIRAGE etc type thing.Why it's in Becker's any guess ?

[IwannabeaCPA2017]

HOLY SMOKESS!! I don't know how I have missed this thread but it will definitely save my A$$ on the stress. Thanks to Lentil and Ana for taking time out to breaking down all the sIMS on ninja and Becker that relates to the blueprint. I was planning to do all or as many SIMS on both review anyways but I guess those certain ones I can do more than once to nail the concept rather than doing some small ones that may not even matter. Def will save a huge time on review week!! Thanks again.

[Anonymous]

Can we get a similar thread going but for REG SIMs? Can I look at the AICPA Blueprints and find something similar for the REG section?

I recently took FAR and this list is pretty spot on. Had 1-2 SIMs though that were not on the list.

[Lentilcounter]

I'm going to start a Reg thread next week on Thursday after my exam.

I'm thinking the 1 or 2 that were on the list included a pretest and maybe something that was an application level topic?

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

[Lentilcounter]

`
And yes you can do the same thing with the Reg blueprint. Just pick out all the stuff that hits the analysis level. It's definitely a shorter list than Far.

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

[Anonymous]

Thanks Lentil, while it is a great list, it surprisingly doesn't really say anything about journal entries. I would recommend for people to know journal entries especially for the more complex topics i.e. bonds, leases, stock transactions, foreign currency, etc. Not that they will all be tested on, but chances are you will get a few MCQs and a SIM on journal entries.

[Lentilcounter]

Bump. I found this list to be extremely helpful for my FAR retake yesterday. With my previous 3 attempts, I felt like I always studied the wrong things for the SIMs. Not this time. I would also understand journal entries like BrickellCPA said for these objectives.

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

[Katie]

Great news, @lentilcounter !

I plan to go through all of those SIMS next week before my exam on 11/13. Working through Becker final review right now…

[Wannafree]

@Lentil ,Did you get AICPA test question clarified ? Can some SIM from sample test be included in this list ? Once I pass the exam I will ask your email id from Jeff to send you Lunch card.As you said that you were reading wrong thing for SIM ,I strongly believed I was not reading right things.God bless u.

[Ana]

For those looking for far sims

[Author]

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