CPA Evolution 2024 Miles Handbook Version 1.

CPA Evolution 2024 –

Miles Candidate Handbook
I) CPA Evolution 2024 – the new Exam
II) CPA Exam Transition Policy - if you’ve have passed 1 or more CPA exam
section by Dec 2023
III) Important Dates - Exam Administration & Score Release
IV) Planned Exam Infrastructure & Format Changes
V) CPA Evolution 2024 – What’s added vs. What’s moving out
VI) Recommended Sequence of 2024 Exam Sections
VII) Miles 2024 Resources - Expected Release Dates
VIII) Miles Transition Policy - LMS & Print Books

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CPA Evolution 2024 Miles Handbook Version 1.5

I) CPA Evolution 2024 - the new Exam

➢ The CPA Evolution is transforming the CPA licensure model to recognize the rapidly changing skills
and competencies the practice of accounting requires today and will require in the future

➢ The new CPA licensure model requires all candidates to pass three Core exam sections and one
Discipline exam section of a candidate’s choosing. The Uniform CPA Examination (the Exam) has
been designed accordingly:
• Core exam sections - The three Core exam sections are:
✓ Financial Accounting and Reporting (FAR)
✓ Auditing and Attestation (AUD)
✓ Taxation and Regulation (REG)
• Discipline exam sections - Candidates have to choose any one of the below sections:
✓ Business Analysis and Reporting (BAR) - a continuation of the FAR core Recommended choice
✓ Information Systems and Controls (ISC) - a continuation of the AUD core with high
emphasis on Technology
✓ Tax Compliance and Planning (TCP) - a continuation of the REG core

➢ The table below presents the design of the Exam by Core and Discipline section, section time,
question type.
CPA Exam Section Section Multiple-Choice Tasked-Based
Time Questions (MCQs) - Simulations (TBSs) -
Count & Weightage Count & Weightage
FAR - Core 4 hours 50 | 50% 7 | 50%
AUD - Core 4 hours 78 | 50% 7 | 50%
REG - Core 4 hours 72 | 50% 8 | 50%
BAR - Discipline 4 hours 50 | 50% 7 | 50%
ISC - Discipline 4 hours 82 | 60% 6 | 40%
TCP - Discipline 4 hours 68 | 50% 7 | 50%

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CPA Evolution 2024 Miles Handbook Version 1.5

II) CPA Exam Transition Policy - if you’ve have passed

1 or more CPA exam section by Dec 2023
➢ If you have passed one or more exam sections in 2022 or 2023 (but not all the 4 sections), the CPA
Exam transition policy allows you to continue the CPA Exam journey from where you are
• The transition policy is quite simple:
✓ Candidates who have credit for AUD, FAR or REG on the current CPA Exam will not need to
take the corresponding new core section of AUD, FAR or REG on the 2024 CPA Exam
✓ Candidates who have credit for BEC on the current CPA Exam will not need to take any of
the three-discipline section
• The following chart lays out the transition policy for each Exam section:

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CPA Evolution 2024 Miles Handbook Version 1.5

➢ In terms of timeline, if you have passed any CPA exam section between July 2022 - December 2023,
the credit(s) for such section(s) will be extended to June 30, 2025
• In other words, instead of the typical 18-month timeline to pass the remaining exam sections,
you will have time until June 30, 2025 (i.e., the 18-month period for you will be auto-reset and
you will actually get 18 months from January 1, 2024). E.g.,
✓ If you appeared for and passed your first exam section on June 20, 2022 - 18-month credit
should have expired on January 20, 2024. But credit will be auto extended to June 30, 2025
✓ If you appeared for and passed your first exam section on November 20, 2023 - 18-month
credit should have expired on May 20, 2025. But credit will be auto extended to June 30,
2025
• However, this will not apply if you appeared for and passed your first exam section before June
30, 2022. E.g.,
✓ If you appeared for and passed your first exam section on June 20, 2022 - 18-month credit
expires on December 20, 2023. No extension
• Note: The proposed rule amendment in Uniform Accountancy Act Rules extending credit expiry
from the current 18 months to 30 months is not yet effective as it is yet to be ratified by the
individual state boards

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CPA Evolution 2024 Miles Handbook Version 1.5

III) Important Dates - Exam Administration & Score

Release
➢ Important 2023 Administration Dates
• Firstly, candidates should note that the last day of testing for all current CPA Exam sections
(AUD, BEC, FAR and REG) will be December 15, 2023. No CPA Exam sections may be scheduled
from December 16, 2023, through January 9, 2024, to allow for conversion of IT systems to the
2024 CPA Exam sections
• In addition, first-time CPA candidates wishing to take BEC in the latter part of 2023 need to be
aware that the last date to apply for the NTS is October 1, 2023. Candidates would receive the
NTS on or before November 15, 2023
✓ Note: Evaluation needs to be completed by October 1, 2023 (though some extra runway
may be available – please get in touch with your Gameplan team counsellor)

➢ Important 2024 Administration Dates

• AICPA has published the tentative 2024 CPA Exam testing schedule and score release schedule
(and these are subject to change)
✓ Note: For 2024, exams will not happen continuously throughout the year, and score
releases will be delayed

✓ Testing will commence on January 10, 2024, for all sections. While the core sections (AUD,
FAR and REG) will first be available for scheduling through March 26, 2024, in the first
quarter of 2024, the discipline sections (BAR, ISC and TCP) will be available through
February 6, 2024
✓ Scores are anticipated to only be released once per test section per quarter due to
necessary standard-setting analyses and activities

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CPA Evolution 2024 Miles Handbook Version 1.5

It’s getting simpler!

IV) Planned Exam Infrastructure & Format Changes
➢ The AICPA has identified multiple changes to the CPA Exam designed to reduce complexity in
constructing the CPA Exam and improve the CPA Exam software performance, while also
maintaining a rigorous exam and providing for greater flexibility in future delivery

➢ The following infrastructure and content changes are planned for the CPA Exam and will be
implemented concurrently with the launch of the CPA Evolution-aligned Exam in January 2024:
• No more of written communication task (essays)
✓ The written communication tasks, commonly referred to as essays, were only tested in BEC.
With the elimination of the BEC section, the written communication tasks also are being
eliminated
• No more Research Simulations & Authoritative Literature Resources
✓ Currently, when you get a task-based simulation in REG, AUD, or FAR, there is authoritative
guidance you can use as a resource to look up how to solve the problem. The exam also
contains research-focused simulations where you must determine what section of the code,
codification, or other authoritative guidance applies to a given scenario. In 2024, those pure
research simulations will be gone, as will the authoritative guidance as a resource
✓ Instead, guidance will only appear in select simulations as an exhibit. In other words, you
will see a new type of task-based simulation during the transition that provides you with
sections, paragraphs, or snippets of the authoritative guidance. From there, you will need to
determine which parts of the provided evidence, if any, apply to a given simulation. You will
not have the entire guidance to search through
• No more Multistage adaptive testing in the MCQ testlets
✓ Current multiple-choice testlets adjust to your performance early on when taking the exam.
If you are scoring well, you will be shown more difficult questions. If you start off by missing
several questions, you will be shown easier options. In most cases, candidates don’t even
realize this is happening. Beginning in 2024, this “multi-stage adaptive testing” will cease;
the question testlets will not change based on performance
• Excel Out, JavaScript SpreadJS In
✓ SpreadJS, like Microsoft Excel, is a spreadsheet tool, but it won’t have all the features of
Excel. We expect much of the basic formulas and calculation tools will be similar to the tools
in Excel

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CPA Evolution 2024 Miles Handbook Version 1.5

V) CPA Evolution 2024 – What’s added vs. What’s

moving out
➢ To put in very simple terms:
• Core exam sections:
✓ FAR and REG are getting easier
✓ AUD is nearly the same
• Discipline exam sections:
✓ Miles recommends BAR [which is most of the erstwhile BEC plus some portions of FAR]
✓ ISC is ok only if you have hands-on experience in Accounting Information Systems
✓ TCP is ok only if you have hands-on experience in US federal income tax planning

2023 vs. 2024 What’s getting added? What’s moving out?

FAR 20%+ Not much of content additions.
reduction in Exam focus getting aligned to
content data & technology
AUD No material Updates in Auditing Standards.
changes Exam focus getting aligned to
data & technology
REG 20%+ Not much of content additions.
reduction in Exam focus getting aligned to
content data & technology
BAR New avatar of Advanced accounting portion
BEC which is moving out from FAR is
being added here. Exam focus
getting aligned to data &
technology
ISC New section Includes IT from BEC, SOC from
AUD. And a lot more on IT
systems & controls
TCP New section Advanced tax portion which is
moving out from REG is being
added here. And a lot more on
tax compliance & planning
Advanced portions moving to BAR, including:
- Derivatives
- Goodwill
- Lessor Accounting
- F/S of pension plans
- Governmental Accounting (advanced topics)
SOC engagements moving to ISC
Advanced portions moving to TCP, including:
- International Taxation
- Capital gains exceptions
- Long-term business property
- C-Corp / S-Corp / Partnership - formation,
earnings distribution, liquidation,
reorganization
- Estate, Trust & Gift taxation
Most of the IT portion is moving out and being
added to ISC
N/A
N/A

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CPA Evolution 2024 Miles Handbook Version 1.5

VI) Recommended Sequence of 2024 Exam Sections

➢ Miles mantra from 2024 – “FAR first”
• With the 2024 exam changes (and advanced topics moving out), FAR has become very simple
and straightforward. It’s no longer so FAR ;-)
• Between the core subjects, you would want to complete FAR before AUD or REG (i.e., you
would want understand FAR before you wear the auditor’s hat or the tax return preparer’s hat)
• Miles will now have a batch start for FAR every month. And intensive face-to-face classes for
FAR. Statistically, if you pass FAR, you’re 25% done (1 out of 4 exam sections) - but,
psychologically, you’re actually 80% done. With the confidence and momentum that you will
build once you pass your first exam (FAR in this case), it will be a piece of cake to pass the
remaining 3 exam sections
• And once you attend Varun’s masterclass, you’ll love FAR even more - it just gets better!

➢ After FAR, you’re on the expressway! Any order is ok

• Once you pass FAR, you can go for AUD, REG and BAR in any order
• If you still want our recommendation, ideally the next exam after FAR should be BAR. Unless, of
course, you have audit experience and want to go for AUD (or you have US tax experience and
want to go for REG)

➢ Amongst the disciplines, choose BAR. Why?

• Practical subject, expected highest pass rates for Indian candidates
• Why not ISC? Not recommended unless you have extensive practical experience with IT or
Accounting Information Systems
• Why not TCP? Not recommended unless you have extensive practical experience with US
Federal Income Tax
• From a career standpoint, does it matter which specialization you choose? Absolutely not. Also,
irrespective of whichever part you choose from a CPA exam standpoint, you will have Miles e-
resources available for all the 3 disciplines and you can go through the same.

➢ For existing candidates, how to plan?

• If you have not passed any exam upto December 2023
✓ Focus on FAR. Remember “FAR first!”
 Even if you’ve started BEC in 2023, move to FAR now
- After you pass FAR, you can do BAR which will incorporate the BEC portions
- Can you do BAR first? No, don’t do BAR before you pass FAR (as BAR includes
advanced FAR portions)
• If you have passed one/more exam in 2023
✓ If you haven’t passed FAR, focus on FAR
✓ If you have already passed FAR, any order is ok for the remaining exam sections
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CPA Evolution 2024 Miles Handbook Version 1.5

VII) Miles 2024 Resources - Expected Release Date

2024 e-books 2024 Videos 2024 MCQs & 2024 Print 2024 Live Classes (Tentative
SIMs Books Batch Start Dates)
Availability *
FAR 3-Oct-2023 3-Oct-2023 3-Oct-2023 Oct-2023 Batch start planned for every
month starting Oct 2023.
Tentative batch start dates:
- 15-Oct-2023
- 18-Nov-2023
- 6-Jan-2024
- 17-Feb-2024
- 16-Mar-2024
AUD 3-Jan-2024 22-Jan-2024 3-Jan-2024 End-Jan 2024 24-Feb 2024

REG 3-Jan-2024 22-Jan-2024 3-Jan-2024 End-Jan 2024 2-Mar-2024

(with 2023 (with 2023 (with 2023 (with 2023
forms) ^ forms) ^ forms) ^ forms) ^

BAR 3-Jan-2024 22-Jan-2024 3-Jan-2024 End-Jan 2024 9-Mar 2024

ISC Apr 2024 Apr 2024 Apr 2024 Apr 2024 Live Online classes to be
planned based on number of
takers – as of now, the count
TCP Apr 2024 Apr 2024 Apr 2024 Apr 2024 is expected to be very low

*Kindly anticipate an approximate 2-week wait time from the release date. Meanwhile, you can refer to
the e-books which will be available on your LMS
^2023 forms expected to be released by IRS in early Jan 2024

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CPA Evolution 2024 Miles Handbook Version 1.5

VIII) Miles Transition Policy - LMS & Print Books

➢ For LMS (includes e-books, videos, MCQs & Simulations, access to live online webinars, access to
one-on-one mentoring):
• Miles provides support-till-you-pass. So, all existing Miles candidates will be eligible for a
complimentary transition to 2024
• LMS 2024 will have a new toggle option for each section wherein you can seamlessly choose
2023 or 2024 resources based on your exam date
✓ LMS 2023 content shall continue to be available through December 15, 2023 (applicable for
candidates appearing for the exam in 2023)
✓ For candidates preparing for exam in 2024, you can select the 2024 option and start your
preparation
• What happens to your progress if you have already done some preparation using the 2023
resources?
✓ Well, great news! All your progress including your flagged MCQs/SIMs and notes for FAR /
AUD / REG / BEC (2023) will be carried over to the respective new sections of FAR / AUD /
REG / BAR in LMS 2024
 However, in case you want to start afresh (not really recommended), you’ll have a one-
time option to flush all your old progress and start off

➢ For print books - published by McGraw Hill

• For candidates enrolled in July 2023 (or earlier) and have received print versions of 2023 (or
earlier) editions
✓ Free print copy of FAR book will be made available at all Miles offices. However, if you want
the FAR book to be shipped to your address, you will have to pay shipping & handling
charges of INR 1,000
✓ Once you appear for the FAR exam, the set of remaining books [AUD, REG, BAR] can be
ordered at zero additional cost. Else, INR 1,000 per book
• For new enrollments during Aug 2023 thru Jan 2024
✓ FAR book to be dispatched first (starting mid-Oct 2023)
✓ Remaining books [AUD, REG, BAR] to be dispatched in late Jan 2024
• For 2024 candidates (enrolling on or after Feb 2024)
✓ FAR, AUD, REG, BAR books will be sent on enrollment
• For ISC & TCP
✓ E-books will be available on the Miles LMS for all candidates [as of the scheduled release
date]
✓ ISC print books can be ordered at zero cost once you appear for the AUD exam
✓ TCP print books can be ordered at zero cost once you appear for the REG exam

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CPA Evolution 2024 Miles Handbook Version 1.5

Appendix: 2023 to 2024 changes

• FAR
• REG
• AUD
• BEC / BAR

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 Miles Education
CPA Evolution 2024 - Changes made to 2023 Edition
FAR (Financial Accounting & Reporting)
2023 Topics 2024 Changes
FAR-1 Concepts, Financial Reporting & Misc. Topics
1.1 Conceptual Framework No longer tested. In the 2024 Edition, replaced with FAR Overview
1.2 Income Statement As is
1.3 Balance Sheet As is
1.4 Notes to the F/S As is
1.5 Fair Value Measurements & Disclosures As is
1.6 Effects of Changing Prices No longer tested
1.7 SEC Reporting Requirements As is
1.8 Interim Financial Reporting As is
1.9 Segment Reporting Moved to BAR
1.10 Revenue Recognition Licensing moved to BAR (Pg F1-76 to F1-79)
1.11 Matching of Revenues & Expenses As is
1.12 Accounting Changes & Error Corrections As is
1.13 Other F/S Presentations As is

FAR-2 Current Assets & Liabilities

2.1 Monetary Current Assets & Current Liabilities As is
2.2 Contingencies As is
2.3 Inventory As is
2.4 Long Term Construction Contracts As is

FAR-3 Investments, PP&E & Intangibles

3.1 Investments in Equity & Debt Securities As is
3.2 Derivatives & Hedge Accounting Moved to BAR
3.3 Tangible Fixed Assets As is
3.4 Intangible Assets Indefinite-life intangibles [including Goodwill] moved to BAR (Pg F3-43)

3.5 Non-Monetary Exchanges No longer tested

FAR-4 Bonds, Leases & Pensions

4.1 Present Value & Annuities As is
4.2 Bonds As is
4.3 Debt Restructurings As is
4.4 Leases Lessor Accounting / Sale Leaseback / Subleases moved to BAR (Pg F4-34, F4-
41 to F4-47, F4-53, F4-54, F4-61, F4-62, F4-63)
4.5 Pensions (F/S of Employee Benefit Plans) Moved to BAR

FAR-5 Deferred Taxes, Equity, EPS & Cash Flows

5.1 Deferred Taxes As is
5.2 Stockholders' Equity Stock Compensation to employees moved to BAR (Pg F5-27 to F5-30)
5.3 Earnings Per Share As is
5.4 Statement of Cash Flows As is

FAR-6 Consolidation, Foreign Currency, Partnerships & NPO

6.1 Business Combinations & Consolidations VIE [Variable Interest Entities] moved to BAR (Pg F6-22, F6-23)
6.2 Financial Statement Analysis Topic is expanded (more examples on ratios). Also, topic on variance is
added
6.3 Foreign Currency Accounting Moved to BAR. Very limited content on Foreign Currency (operating
transactions) is retained
6.4 Partnerships As is
6.5 Not for Profit Accounting As is

FAR-7 Governmental Accounting

6.4 Governmental Accounting (State & Local) Majority of the content has moved to BAR (Pg F7-33 to F7-57)
 Miles Education
CPA Evolution 2024 - Changes made to 2023 Edition
REG (Regulation & Taxation)
2023 Topic 2024 Changes
REG-1 Taxation of Individuals
1.1 Individual Income Tax Return = Form 1040 As is
1.2 Gross Income International tax [Transition Tax / GILTI] moved to TCP (Pg R1-52, R1-
53)
1.3 Adjustments ("Above the Line" Deductions) {WISHES et all} As is
1.4 Deductions from AGI As is
1.5 Calculating Tax As is
1.6 Tax Credits {ACE DEERS = Foreign Business Winner} As is
1.7 Other Taxes As is
1.8 Estimated Tax Penalty As is

REG-2 Property Transactions & Depreciation

2.1 Capital Gains & Losses Exceptions for Capital Gains moved to TCP (I-FISHED - Pg R2-4 to R2-8)

2.2 Gains & Losses from Sale of Long-term Business Property [Form 4797] Moved to TCP
2.3 Depreciation & Amortization [Form 4562] Depletion moved to TCP (Pg R2-29)

REG-3 Taxation of C-Corporations

3.1 Formation of C Corporations Moved to TCP
3.2 C-Corporation Income Tax Return = Form 1120 As is
3.3 Income - International tax moved to TCP (Pg R3-22 to R3-25)
- Sale of business property moved to TCP (Pg R3-28)
3.4 Deductions International tax moved to TCP (Section 965 / Section 250 on Pg R3-
39)
3.5 Reconciliations of Taxable Income with books As is
3.6 Tax Computation International tax moved to TCP (Section 965 on Pg R3-45 / BEAT on Pg
R3-46)
3.7 Corporate Earnings & Distributions Moved to TCP
3.8 Corporate Liquidation & Reorganizations Moved to TCP

REG-4 Taxation of Other Entities

4.1 S-Corporations As is
4.2 Partnerships Partnership Distributions / Sale of Partnership Interest / Termination
of Partnership moved to TCP (Pg R4-29 to R4-33)
4.3 Estate, Trust & Gift Taxation Moved to TCP
4.4 Tax Exempt Organizations Form 990 & UBI moved to TCP (Pg R4-50 to R4-52)

REG-5 Supplementary Taxation Topics

5.1 Federal Taxation Recapitulation As is
5.2 Tax Research (Internal Revenue Code or IRC) As is
5.3 Tax Planning Moved to TCP
5.4 Federal Tax Procedures & Legislative Process As is
5.5 Mulitjurisdictional Taxation International tax moved to TCP (Pg R5-38, R5-41 & R5-42)

REG-6 Statutory Regulations & Business Structures

6.1 Federal Security Regulations As is
6.2 Professional & Legal Responsibilities As is
6.3 Employment Regulations As is
6.4 Environmental Regulations No longer tested
6.5 Antitrust Regulations No longer tested
6.6 Affordable Care Act As is
6.7 Business Structures As is

REG-7 Business Law

7.1 Contracts As is
7.2 Sale of Goods (UCC Article 2) As is
7.3 Secured Transactions (UCC Article 9) As is
7.4 Bankruptcy As is
7.5 Suretyship & Creditor's Rights As is
7.6 Agency As is
7.7 Property Law No longer tested
 Miles Education
CPA Evolution 2024 - Changes made to 2023 Edition
AUD (Auditing & Attestation)
2023 Topics 2024 Changes
AUD-1 Professional Responsibilities and Ethics
1.0 AUD Intro - GAAS As is
1.1 AICPA Code of Professional Conduct Content addition: NOCLAR (Non-Compliance with Laws and Regulations)

1.2 Sarbanes-Oxley Act (SOX), 2002 As is

1.3 Public Company Accounting Oversight Board (PCAOB) As is
1.4 Securities & Exchange Commission (SEC) As is
1.5 Others: DOL & GAO As is
1.6 International Standards Deleted content (Pg A1-39 & A1-40)

AUD-2 Planning & Supervision

2.1 Engagement Understanding & Acceptance Minor SAS Updates: Communication with Predecessor Auditor
2.2 Planning the Audit As is
2.3 Risk Assessment As is
2.4 Supervising the audit As is
2.5 Quality Control Standards As is

AUD-3 Internal Controls

3.1 I/C - Integrated Framework As is
3.2 Auditor's consideration of I/C = (RUCPAS) SAS Updates: Risk Assessment Procedures.
Added content on Economics to understand the entity & its environment
[added in AUD-5]
3.3 Operating Cycles As is
3.4 I/C Report & Communications As is

AUD-4 Corroborative Audit Evidence

4.1 Audit Evidence As is
4.2 Management Assertions (COVER UP) Minor SAS Updates: COVER UP
4.3 Substantive Procedures (RIIO CAR RACE Apps) As is
4.4 Substantive Procedures for Revenue, Expenditure, Production & Payroll Cycles Minor SAS Updates: COVER UP

4.5 Substantive Procedures for Investing & Financing Cycles Minor SAS Updates: COVER UP
4.6 Other Specific Substantive Procedures Minor SAS Updates: Estimates
4.7 Using the work of others As is
4.8 Evaluating Audit Evidence As is
4.9 Audit Documentation Minor SAS Updates: Management Representation Letter

AUD-5 Audit Sampling Renamed to: Considerations for Audit Fieldwork. And added:
(5.2) Effect of Information Technology on Audit
(5.3) Audit Data Analytics
(5.4) Economic Concepts (to understand entity & its environment)
5.1 Audit Sampling As is

AUD-6 Audit Reports

6.1 Audit Reports as per SAS As is
6.2 Audit of Comparative F/S As is
6.3 Supplementary Information As is
6.4 Audit of Group F/S As is
6.5 Audit of Special Purpose F/S As is
6.6 Audit of F/S prepared using a financial reporting framework generally accepted As is
in another country
6.7 Other Engagements & Reports based on SAS As is
6.8 Appendix: Reports as per PCAOB AS As is

AUD-7 Other Auditing & Attestation Topics

7.1 Compilation & Reviews (SSARS) As is
7.2 Attestation Engagements (SSAE) As is
7.3 Governmental Auditing As is
7.4 Effect of Information Technology on Audit SAS Updates: Risk Assessment Procedures.
Moved to AUD-5
7.5 Audit Data Analytics (ADA) As is. Moved to AUD-5
7.6 Audit Considerations when client uses a Service Organization As is
7.7 Audit of Employee Benefit Plans subject to ERISA As is
 Miles Education
CPA Evolution 2024 - Changes made to 2023 Edition
BEC (which is replaced with BAR)
2023 Topics 2024 Changes

BEC-1 Corporate Governance, Internal Controls & ERM

1.1 Corporate Governance No longer tested
1.2 Internal Controls Tested in AUD
1.3 Enterprise Risk Management As is

BEC-2 Cost Measurement

2.1 Cost Measurement Concepts As is
2.2 Standard Costing & Variance Analysis As is
2.3 Costing Systems As is
2.4 Activity-Based Costing As is
2.5 Joint Product and By-Product Costing As is
2.6 Decision Making relating to Cost Accounting As is

BEC-3 Financial Management

3.1 Working Capital Management As is
3.2 Capital Budgeting As is
3.3 Financing Decisions As is
3.4 Valuation As is

BEC-4 Financial Planning & Risk Management

4.1 Planning & Control As is
4.2 Financial Risk Management As is

BEC-5 Performance Measures

5.1 Balanced Scorecard As is
5.2 Value-Based Management (Financial Scorecard As is
5.3 Traditional Financial Statement Analysis As is
5.4 Benchmarking & Best Practices As is
5.5 Quality Control No longer tested
5.6 Business Process Management No longer tested

BEC-6 Economic Concepts & Strategy

6.1 Microeconomics Content is reduced
6.2 Macroeconomics Content is reduced
6.3 Effect of Economic Environment on Strategy As is

BEC-7 Information Technology

7.1 Information Systems within a Business Moved to ISC
7.2 Characteristics of IT Systems - General Moved to ISC
7.3 Characteristics of IT Systems - Specific Moved to ISC
7.4 Evolving Role of IT in Business Expanded content on Business & Data Analytics
7.4 Control Objectives for Information & Related Technology (COBIT) Moved to ISC
7.5 Effect of IT on Internal Control Moved to ISC
7.6 Effect of IT on Auditing Moved to ISC
7.7 Flowcharting Moved to ISC
 Miles Education
CPA Evolution 2024 - Changes made to 2023 Edition
BAR (Business Analysis & Reporting) - New Table of Contents
2024 Table of Contents 2023 Reference (BEC / FAR)

BAR-1 Business Analysis - Financial Decision Making

1.1 Working Capital Management BEC-3.1
1.2 Capital Budgeting BEC-3.2
1.3 Financing Decisions BEC-3.3
1.4 Valuation BEC-3.4

BAR-2 Business Analysis - Managerial & Cost Accounting

2.1 Cost Measurement Concepts BEC-2.1
2.2 Standard Costing & Variance Analysis BEC-2.2
2.3 Costing Systems BEC-2.3
2.4 Activity-Based Costing BEC-2.4
2.5 Joint Product and By-Product Costing BEC-2.5
2.6 Decision Making relating to Cost Accounting BEC-2.6
2.7 Financial Planning & Control BEC-4.1

BAR-3 Business Analysis - Performance Management & Data Analytics

3.1 Financial Statement Analysis BEC-5.2
3.2 Performance Management BEC-5.1, 5.3, 5.4
3.3 Business & Data Analytics Some content from BEC-7.4. Additional content

BAR-4 Business Analysis - Risk Management & Economic Analysis

4.1 Enterprise Risk Management BEC-1.3
4.2 Financial Risk Management BEC-4.2
4.3 Microeconomics BEC-6.1
4.4 Macroeconomics BEC-6.2
4.5 Economic & Market Influences on Business BEC-6.3

BAR-5 Technical Accounting & Reporting - I

5.1 Overview of Technical Accounting & Reporting Overview of changes (FAR to BAR)
5.2 SEC Reporting Requirements FAR-1.7. Plus Additional content
5.3 Segment Reporting FAR-1.9. Entire portion as is
5.4 Revenue Recognition FAR-1.10. Entire portion as is
5.5 Derivatives and Hedge Accounting FAR-3.2. Entire portion as is
5.6 Intangible Assets FAR-3.4. Indefinite life intangibles, Internally developed software, R&D
5.7 Leases FAR-4.4. Lessor Accounting

BAR-6 Technical Accounting & Reporting - II

6.1 Business Combinations & Consolidations FAR-6.1. Entire portion including VIE
6.2 Stock Compensation (Share-based Payments) FAR-5.2. Stock Compensation portion only
6.3 Foreign Currency Accounting FAR-6.3. Entire portion as is
6.4 Financial Statements of Employee Benefit Plans FAR-4.5. Entire portion as is

BAR-7 Governmental Accounting

7.1 Governmental Accounting (State & Local FAR-7.1. Entire portion as is