Task-based simulations are considered one of the most important components of the CPA Exam. So, if you are planning to take the CPA exam, you must be aware of the ins and outs of task-based simulations.
In this blog, we will unfold task-based simulations- what they are, how many simulations you will face, and their different types. Besides, we will also discuss how signing up for Andrew Katz – the best CPA exam private tutor can help you navigate the challenges of simulations.
Let’s explore.
What Are CPA Exam Task-Based Simulations?
Task-based simulations are case studies in which you are thrown into a real-world scenario using a topic from the CPA Exam and asked to solve it as if it were a difficulty you would face on a typical workday when working as a CPA. Task-based simulations aim to assess your comprehension and ability to solve problems by interpreting facts and information. Simply put, this is how the AICPA ascertains that you are skilled and knowledgeable and aren’t just memorizing words!
What is the expected number of simulations for each exam?
Not every section of the CPA Exam is equal! Every CPA Exam section assesses a distinct set of abilities. For instance, there are significantly fewer multiple-choice questions and task-based simulations in the Financial Accounting and Reporting (FAR) section than in the Auditing and Attestation (AUD) section. The reason is that examiners understand that the difficult mathematical-style problems in the FAR will take longer for you to answer.
To understand this better, here is a breakdown of the task-based simulations and multiple-choice questions in each section:
Core Sections
Auditing and Attestation (AUD): 78 MCQs and 7 Sims
Financial Accounting and Reporting (FAR): 50 MCQs and 7 Sims
Taxation and Regulation (REG): 72 MCQs and 8 Sims
Discipline Sections
Business Analysis and Reporting (BAR): 50 MCQs and 7 Sims
Information Systems and Controls (ISC): 80 MCQs and 6 Sims
Tax Compliance and Planning (TCP): 68 MCQs and 7 Sims
What Kind of Task-Based Simulations Will the CPA Exam Include?
Simulations based on research: These simulations will include reading reputable literature. Using this search function, you may look for a topic in the code and get an estimate of its location by searching the AICPA database.
Document review simulations: CPA applicants must evaluate written material, traverse sample source documentation, and choose the most appropriate option.
Journal entry simulations: You have to evaluate financial data, such as an income statement, balance sheet, or sample email, and then choose the right journal entry to match the description.
Open response simulations: You need to evaluate the given information and make a response by either matching the answer option with the description, filling in the blank, or choosing the proper answer from a dropdown selection.
How to Study for Task-Based Simulations?
The task-based simulations are the most difficult component of the CPA exam, and there is no easy route to navigate its complexities. The fact is, out of more than 100 topics that you will prepare for the exam, only 6–8 topics are covered in the actual CPA Exam.
Hence, to understand the system of task-based simulations and the overall CPA exam, sign up for the best CPA exam private tutor- Andrew Katz. He will help you break down the intricacies of the CPA exam into a simple, easy-to-understand format. With years of experience in the field of accounting and a proven track record of helping candidates achieve their goals, Andrew Katz and his team offer personalized tutoring services tailored to each individual’s needs.