The Regulation (REG) section of the Uniform CPA Examination (the Exam) tests
the knowledge and skills that a newly licensed CPA must demonstrate with
■ U.S. federal taxation
■ U.S. ethics and professional responsibilities related to tax practice
■ U.S. business law
Overview of content areas
Area I of the REG section blueprint covers several topics, including the following:
■ Ethics and Responsibilities in Tax Practice - Requirements based on Treasury
Department Circular 230 and the rules and regulations for tax return preparers
■ Licensing and Disciplinary Systems - Requirements of state boards of accountancy to obtain and maintain the CPA license
■ Federal Tax Procedures - Understanding federal tax processes and procedures, including appropriate disclosures, substantiation, penalties and authoritative hierarchy
■ Legal Duties and Responsibilities - Understanding legal issues that affect the CPA and his or her practice
Area II of the REG section blueprint covers several topics of Business Law,including the following:
■ Knowledge and understanding of the legal implications of business transactions, particularly as they relate to accounting, auditing and financial reporting.
■ Areas of agency, contracts, debtor-creditor relationships, government regulation of business, and business structure.
- The Uniform Commercial Code under the topics of contracts and debtor-creditor relationships.
- Nontax-related business structure content. Area V of the REG section blueprint covers the tax-related issues of the various business structures.
■ Federal and widely adopted uniform state laws and references as identified in References below.
Area III, Area IV and Area V of the REG section blueprint cover various topics of federal income taxation and gift and estate tax. Accounting methods and periods, and tax elections are included in the Areas listed below:
■ Area III covers the federal income taxation of property transactions. Area III also covers topics related to federal estate and gift taxation.
■ Area IV covers the federal income taxation of individuals from both a tax preparation and tax planning perspective.
■ Area V covers the federal income taxation of entities including sole proprietorships, partnerships, limited liability companies, C corporations, S corporations, joint ventures, trusts, estates and tax-exempt organizations,
from both a tax preparation and tax planning perspective.
记忆和理解主要集中在 Area I and Area II.
These two areas contain the general ethics, professional responsibilities and business law knowledge that is required for newly licensed CPAs and is tested at the lower end of the skill level continuum.
应用和分析技能主要在Areas III, IV and V.
three areas contain more of the day-to-day tasks that newly licensed CPAs are expected to perform and therefore are tested at the higher end of the skill level continuum.
REG考试共有两个题型，分别是50% Multiple Choice和50%的Task Based题型组成。