CPA Exam Revamped.

CPA Exam Revamped. If you have an accounting class reconsider the Certified Public Accountant (CPA) examination. First administered in 1896 the CPA exam has traditionally been a paper-and-pencil example For most of the last hundred years it was given only twice each year (May and November) in large halls or auditoriums at scarcely any locations (often one per state). All four exam sections had to be taken in single sitting, with a minimum score obtained upon every section if the candidate was to receive credit for passing any section.

Beginning in April 2004 the CPA exam became a computer-based trial It is now available at from one side of to the other 300 Prometric testing centers nationwide, five days by week, in two out of each three months. The overall exam has been shortened from 16 to 14 hours. Candidates may pick out which sections they will take at individual session, although all elements must be passed within an 18-month period. This allows for long greater flexibility in scheduling exam preparations. The revised exam sections include:

* Auditing

* Financial Accounting & Reporting

* Regulation (including tax, business law, and ethics)

* Business Environment & Concepts

Written essay questions have been replaced by way of objective questions on extended business cases or "simulations." These are intended to instant candidates with real-world accounting situations. Take an online tutorial forward the new, computer-based CPA exam and test your hand at sample questions: www.cpa-exam.org.

Bear in mind that the CPA credential, unlike the CDFM or CGFM is a state-issued license and that many (but not all) jurisdictions require 150 total semester hours before taking the exam and/or a certain quantity of specific practical experience before receiving certification.

Air Force CDFM As of April 2004 537 Air Force members and employee have received CDFM certification. That's more than the Army, the Navy, or DFAS! It is in the neighborhood of five percent of the Air Force FM workforce (military and civilian, including AFAA). above the past three years, the Air Force has sent about 1500 candidates to the week-long Enhanced Defense Financial Management Training Course (EDFMTC) which helps as preparation for the CDFM exams. After consultation with ASMC staff, my best estimate is that about one-third of Air Force candidates have decided not to carry on certification or have given up doing so; about individual third are still in pursuit of certification; and the remaining one-third have been certified as CDFMs

Air Force Program subject to Study. An integrated process team (IPT) is reviewing the Air Force's internal, three-level FM professional progression in a continuously ascending gradation certification program. Factors that make the program ripe for review include three years of experience subject to the program; the advent of ASMC's CDFM certification program; and the Air Force's FM transformation initiatives. The review team may praise retaining the program as-is; retaining it with changes; or deleting (or replacing) the program. I am the team moderator. Other team members include Col Randy Newcome (AMC); Lt Col Michael Young (AFSPC); CMSgt Larry Gonzales (SAF/FM); Mr Steve Herrera (AAC); and M Glenda Scheiner (ASC). The team anticipates to issue its report this fall.

CDFM Self-Study Option. Can't attend a week-long EDFMTC class? Consider preparing for the CDFM exams from one side self-study with the excellent (and thick) EDFMTC textbook ASMC barters the textbook for $50 at its website: www.asmconline.org. You may be able to borrow a original from a prior EDFMTC pupil but make sure it's the in every one's mouth revision (October 2003, at this writing).

If you attempt self-study you will miss the value of the experienced live instructors: the reinforcement of learning at their oral and visual presentations and the opportunity to ask questions to clarify difficult material. Nevertheless, if taking the "live" course is impractical, in my opinion you may find self-study with the theme a useful option if (1) you are comfortable learning substantial academic material from textbooks; (2) you have near prior introduction to the Defense Department's PPBE system; and (3) you have an prior introduction to Federal appropriations law.

wherefore CGFM Certification? If your time to come career is likely to include governmental positions outside of the Department of Defense consider the Certified management Financial Manager (CGFM) program sponsored from the Association of Government Accountants (AGA). throughout the past decade, the CGFM program has achieved substantial recognition across the Federal financial community and in state and local direction agencies, as well.

Similar to the CGFM program, the CGFM requires passing three two-hour computer-based examinations at Prometric testing center Unlike the CDFM program, the CGFM requires a bachelor's stage and tests on state and local accounting masterships as well as Federal appropriations principles. The three exams include:

* Governmental Environment

* Governmental Accounting, Financial Reporting, and Budgeting