Distinguished University of Texas at Austin CPA Review Professor Allen Bizzell Explains Changes to the 2011 CPA Exam

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Professor Bizzell illuminates the monumental changes to the content and structure of the Financial Accounting and Reporting (FAR) section, by far the largest section of the CPA Exam, in this succinct video from CPAexcel CPA Review (http://www.cpaexcel.com/2011).

Professor Allen Bizzell, University of Texas at Austin, Associate Dean Emeritus

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CPAexcel, a global provider of exceptional CPA Exam study materials, is very pleased to announce the release of this informative high definition video by Dr. Allen Bizzell.

Dr. Bizzell, CPA, is the Associate Dean Emeritus of the esteemed University of Texas at Austin, College of Business. Dr. Bizzell, who taught accounting at UT for many years, shares his in-depth knowledge of how the largest section of the CPA Exam will expand in 2011.

The American Institute of Certified Public Accountants (AICPA) authors and scores the CPA Exam. In 2004, the AICPA completed the last major overhaul of the exam, changing it from being given via paper and pencil to delivery on a computer. In January 2011, the changes planned are even more massive:

  •     an upward evolution of the computer-based testing platform
  •     significant structural changes
  •     prodigious additions to the content of the CPA Exam.

Dr. Bizzell is uniquely qualified to provide and present cogent analysis of the changes to the 2011 CPA Exam. As an accounting professor at the University of Texas, he won the coveted UT Student Council's award for teaching excellence. Beta Alpha Psi, the accounting honor society, awarded him the Outstanding Faculty Advisor in 1975-1976, making him one of only four faculty advisors in the entire U.S. so honored. As a CPAexcel CPA Review Course instructor, he has taught innumerable students how to pass the CPA Exam. As a CPA himself, he has remained in constant contact with the AICPA as they modified the exam.

The CPA Exam is divided into four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG).

At present, the FAR section is by far the largest in the amount and range of content. In 2011, that amount of content is expected to grow because of the inclusion of new topics and amplification of current topics such as:

  •     International Financial Reporting Standards (IFRS)
  •     Securities and Exchange Commission (SEC) Reporting Requirements
  •     Other Comprehensive Basis of Accounting (OCBOA)
  •     Personal Financial Statements
  •     Statements of Employee Benefits Plans and Trusts
  •     Joint Ventures
  •     Investment Property (land and buildings)
  •     Debt Covenant Compliance
  •     Asset Retirement and Environmental Obligations (AREO)
  •     Variable Interest Entities (VIEs)
  •     Fair Value Measurements, Disclosures and Reporting
  •     Risk and Uncertainty.

To learn more about the changes to the structure and content of FAR, you can view Dr. Bizzell’s fascinating new video on the CPAexcel website (http://www.cpaexcel.com/2011) website or on YouTube.com (http://www.youtube.com/watch?v=ERxjLL7zO5k).

To prepare students to pass the CPA Exam in 2011, Dr. Bizzell has completed a new set of instructional video lectures in high definition as well as a new set of printed and electronic textbooks for CPAexcel. These first-class CPA Exam study materials will be available in fall 2010.

Current CPAexcel CPA Review Course students will be given access to all of Dr. Bizzell’s 2011 study materials for free until they pass all four parts of the CPA Exam—a promise unique among providers of CPA Review Courses. For more information about CPA excel CPA Review, visit http://www.cpaexcel.com.


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