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CPA Board Exam Study Notes
Complete Reviewer for the Certified Public Accountant Licensure Examination (CPALE)
6 Subjects~5.5 hours totalPRC Board Exam
About the CPA Board Exam
The Certified Public Accountant Licensure Examination (CPALE) is administered by the Professional Regulation Commission (PRC). It assesses competency in accountancy and related subjects necessary for professional practice.
Exam Subjects
- FAR (Financial Accounting & Reporting)
- AFAR (Advanced Financial Accounting)
- Auditing Theory & Practice
- Taxation
- MAS (Management Advisory Services)
- RFBT (Regulatory Framework)
Requirements
- BS Accountancy degree
- Passing score: 75% average
- No subject below 65%
- Conditional: Pass 5 subjects, <65 in 1
Study Lessons
📊
Part 160 min
Financial Accounting & Reporting (FAR)
- Conceptual Framework
- Financial Statements
- PAS/PFRS Standards
- Revenue Recognition
📈
Part 255 min
Advanced Financial Accounting (AFAR)
- Partnership Accounting
- Business Combinations
- Consolidation
- Government Accounting
🔍
Part 355 min
Auditing Theory & Practice
- PSA Standards
- Audit Process
- Audit Evidence
- Audit Reports
💰
Part 460 min
Taxation
- Income Tax (TRAIN Law)
- Corporate Tax (CREATE)
- VAT
- Estate & Donor's Tax
📋
Part 550 min
Management Advisory Services (MAS)
- Cost Accounting
- CVP Analysis
- Budgeting
- Capital Budgeting
⚖️
Part 650 min
Regulatory Framework (RFBT)
- Obligations & Contracts
- Partnerships
- Corporations
- Negotiable Instruments
CPALE Exam Tips
- Focus on FAR & AFAR: These subjects have the highest weight and most content
- Master the formulas: Taxation and MAS require memorization of formulas
- Understand concepts: Auditing is concept-heavy; understand the "why"
- Practice computations: Speed and accuracy in calculations are crucial
Ready to Test Your Knowledge?
Take our CPA Board Exam practice quiz to assess your readiness.
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