{"id":1728,"date":"2023-07-26T15:49:17","date_gmt":"2023-07-26T15:49:17","guid":{"rendered":"https:\/\/www.morganintl.com\/\/accounting-auditing\/choosing-the-perfect-cpa-discipline-track-find-your-ideal-fit"},"modified":"2024-02-02T07:10:31","modified_gmt":"2024-02-02T07:10:31","slug":"choosing-the-perfect-cpa-discipline-track-find-your-ideal-fit","status":"publish","type":"blog","link":"https:\/\/www.morganintl.com\/en\/blog\/choosing-the-perfect-cpa-discipline-track-find-your-ideal-fit","title":{"rendered":"Choosing the Perfect CPA Discipline Track: Find Your Ideal Fit!"},"content":{"rendered":"
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The year 2024 marks a transformative era for the CPA exams, as significant changes are on the horizon. With the accounting landscape constantly evolving, it becomes imperative to address the evolving needs of the profession and the challenges faced by both aspiring and seasoned accountants. The BEC CPA exam is transforming into 3 new discipline tracks while the other cores (REG, FAR & AUD) remain the same. Let\u2019s explore together the compelling reasons behind the impending 2024 CPA exam changes and shed light on the pain points of the industry that are driving this transformation. <\/p>\n<\/div>\n<\/section>\n

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Introducing the Exciting Trio: The New CPA Discipline Tracks
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The BEC section has been replaced by the following discipline tracks: <\/p>\n<\/div>\n<\/section>\n

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Business Analytics and Reporting (BAR)\u00a0<\/p>\n

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The BAR Discipline exam section will encompass more complex technical accounting topics, with certain subjects overlapping between the FAR Core and BAR Discipline sections, including revenue recognition and lease accounting. Additionally, topics such as nonfinancial performance measures, managerial and cost accounting concepts, variance analysis, budgeting, forecasting, projection techniques, factors influencing an entity’s capital structure, financial valuation decision models for comparing investments, the COSO Enterprise Risk Management Framework, and the effect of economic conditions and market influences on a business will be moved from BEC to BAR. The three key areas covered in the BAR Discipline exam are:\u00a0<\/p>\n<\/div>\n<\/section>\n

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Addressing technical accounting and reporting requirements under the FASB and SEC applicable to for-profit businesses.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Exploring financial accounting and reporting requirements under GASB that apply to state and local government entities.\u00a0<\/span>
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\nExamining financial statements and financial data with a specific focus on the CPA’s role in comparing historical results.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n

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Information Systems and Controls (ISC)<\/u><\/h4>\n

The ISC Discipline section evaluates the competencies and expertise required of a CPA in the realm of information technology (IT) audit and advisory services, encompassing SOC engagements. Plus, it examines the knowledge and skills necessary for CPAs in data management, covering aspects such as data collection, storage, and utilization throughout the data life cycle.\u00a0<\/p>\n

Regarding SOC engagements, the primary focus of the ISC Discipline Exam section includes:<\/p>\n<\/div>\n<\/section>\n

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