The Complete CPA Study Guide: Master the Uniform CPA Exam in 2025

Why the CPA Remains the Accounting Gold Standard

With over 7,000 active job postings requiring CPA certification, this credential is the undisputed standard for accounting professionals. From Big Four firms to corporate finance leadership, the CPA license opens every door in the accounting profession.

Who This Guide Is For

• Accounting graduates pursuing public accounting careers
• Finance professionals seeking audit or tax specialization
• Corporate accountants aiming for controller or CFO tracks
• International accountants seeking US credential recognition

The Four-Section Exam Structure

The Uniform CPA Exam consists of four independent sections.

Section Overview

18-Month Rule

Once you pass your first section, you have 18 months to pass all remaining sections. Plan accordingly.

FAR: Financial Accounting & Reporting

The most challenging section for most candidates. Master this first.

Core Topics (Weight Distribution)

• Conceptual Framework & Standards (25-35%)

  • GAAP hierarchy
  • Financial statement presentation
  • Revenue recognition (ASC 606)

• Financial Statement Accounts (30-40%)

  • Assets, liabilities, and equity
  • Leases (ASC 842)
  • Bonds and long-term debt

• Transactions (20-30%)

  • Business combinations
  • Derivatives and hedging
  • Foreign currency

• Government & NFP Accounting (5-15%)

  • Fund accounting
  • GASB standards
  • Not-for-profit reporting

FAR Study Tactics

1. Start with revenue recognition. It’s foundational
2. Master journal entries. FAR tests your ability to record transactions
3. Don’t skip government. Easy points many candidates surrender
4. Practice consolidation problems. They’re worth significant points

AUD: Auditing & Attestation

Tests your knowledge of audit procedures and professional responsibilities.

Core Topics

• Ethics & Professional Responsibilities (15-25%)

  • Independence rules
  • AICPA Code of Professional Conduct
  • Quality control standards

• Risk Assessment & Planning (25-35%)

  • Audit risk model
  • Internal control evaluation
  • Materiality determination

• Audit Evidence & Procedures (30-40%)

  • Substantive testing
  • Audit sampling
  • Documentation requirements

• Reporting (10-20%)

  • Audit report types
  • Modified opinions
  • Other information in documents

AUD Study Tactics

1. Memorize audit report language. Know standard vs. modified
2. Understand the audit risk model. AR = IR × CR × DR
3. Learn SSARS and SSAE. Compilation and attestation engagements appear

REG: Regulation

Covers federal taxation and business law.

Core Topics

• Individual Taxation (20-30%)

  • Gross income and deductions
  • Filing status and dependents
  • Credits and AMT

• Entity Taxation (30-40%)

  • Corporate taxation (C and S corps)
  • Partnership taxation
  • Tax basis calculations

• Property Transactions (10-20%)

  • Capital gains and losses
  • Section 1231, 1245, 1250
  • Like-kind exchanges

• Business Law (10-20%)

  • Contract law basics
  • Agency relationships
  • Commercial paper

REG Study Tactics

1. Focus on entity taxation. Highest weighted area
2. Know property transaction rules. Calculation-heavy but predictable
3. Don’t over-study business law. It’s only 10-20%

BEC: Business Environment & Concepts

The “easiest” section, but still requires preparation.

Core Topics

• Corporate Governance (17-27%)

  • Internal controls
  • Enterprise risk management
  • IT governance

• Economics (17-27%)

  • Supply and demand
  • Business cycles
  • Monetary and fiscal policy

• Financial Management (17-27%)

  • Capital budgeting
  • Working capital management
  • Cost of capital

• Operations Management (17-27%)

  • Cost accounting
  • Variance analysis
  • Process improvement

Written Communication

BEC includes three written communication tasks. These are graded on:

• Clarity and organization
• Grammar and mechanics
• Relevance to the topic

Pro tip: Address the prompt directly, use professional language, and structure your response with an intro, body, and conclusion.

The 12-Month Master Study Plan

Months 1-3: FAR

• 300-350 hours total
• Complete one chapter per week
• Weekly practice exams
• Full simulation practice in final weeks

Months 4-5: AUD

• 150-200 hours total
• Focus on audit procedures and ethics
• Memorize report language
• Practice sampling problems

Months 6-7: REG

• 150-200 hours total
• Individual and entity taxation focus
• Property transactions practice
• Business law review in final week

Month 8: BEC

• 100-120 hours total
• Written communication practice
• Financial calculations review
• Full-length simulated exams

Buffer Months 9-12

• Retakes if needed
• Experience requirement completion
• License application preparation

Study Resource Recommendations

Primary Courses

• Becker CPA Review (industry standard)
• Roger CPA Review (engaging lectures)
• Surgent CPA Review (adaptive learning)

Supplemental Resources

• NINJA CPA Review (affordable supplement)
• Gleim CPA Review (extensive MCQ bank)
• AICPA Released Questions

Practice Approach

• Aim for 80%+ on MCQs before exam
• Complete all task-based simulations in your course
• Review explanations for incorrect answers

Eligibility Requirements

CPA requirements vary by state. Most require:

Education

• 150 credit hours (bachelor’s + additional)
• Accounting concentration
• Business coursework

Experience

• 1-2 years of accounting experience
• Varies by state
• Must be supervised by a licensed CPA

Ethics

• AICPA ethics exam
• State-specific ethics requirements

Career Impact: The CPA Premium

Immediate Benefits

• Salary Premium: CPAs earn 10-15% more than non-certified accountants
• Big Four Access: Required for audit promotion
• Signing Authority: Can sign financial statements

Long-Term Value

• Leadership Track: Controller, VP of Finance, CFO positions
• Flexibility: Public accounting, industry, government, consulting
• Reciprocity: License transfers to most states

Common Mistakes to Avoid

1. Underestimating FAR. It’s the hardest section—attack it first
2. Not using the 18-month window strategically. Plan section order carefully
3. Ignoring written communication in BEC. It’s easy points
4. Studying passively. Active problem-solving beats reading

The Bottom Line

The CPA exam demands serious commitment—400+ study hours, $1,000+ in fees, and an 18-month timeline. But the credential is genuinely career-transforming, providing access to leadership roles and a significant earnings premium.

Start with FAR, invest in a quality review course, and commit to your study schedule. The CPA opens every door in accounting.