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Exam fees depend upon the jurisdiction where you choose to become licensed. You can find details by referring to your specific Board of Accountancy.
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Reference: http://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/FAQ/Pages/computer_faqs_2.aspx
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Federal Taxation of Individuals | 22-32% | - Loss limitations and carryovers - Gross income inclusions and exclusions - Adjustments, deductions, and exemptions - Tax credits and alternative minimum tax - Filing status and dependency rules |
| Topic 2: Federal Taxation of Entities | 23-33% | - C corporations and S corporations - Tax-exempt organizations - Book-tax differences - Partnerships and LLCs - Gift, estate, and trust taxation |
| Topic 3: Business Law | 15-25% | - Debtor-creditor relationships and bankruptcy - Employment and federal business regulations - Agency relationships and authority - Uniform Commercial Code (UCC) articles - Business structure legal characteristics - Contract formation and performance |
| Topic 4: Federal Taxation of Property Transactions | 12-22% | - Asset basis and holding periods - Capital vs ordinary asset classification - Like-kind exchanges and involuntary conversions - Recognition of gains and losses - Cost recovery: depreciation, amortization, depletion |
| Topic 5: Ethics, Professional Responsibilities, and Federal Tax Procedures | 10-20% | - Treasury Department Circular 230 - Federal tax audit and appeal procedures - Privileged communications and disclosure rules - Tax preparer penalties and due diligence - Ethics and responsibilities in tax practice |
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