(1) Ethics, Professional Responsibilities and Federal Tax Procedures.

Business Law.

(2) Federal Taxation of Property Transactions.
(3) Federal Taxation of Individuals.
(4) Federal Taxation of Entities.
(5) Business Law.

Like all CPA exam sections, a strategy should be in place when attacking regulation. Remember that although REG is a tax heavy exam, the conceptual components (e.g. ethics & business law) should not be disregarded. Often students find themselves disappointed with their 71% come score release day, and the first question I ask them is “how much did you study for business law?”

Studying for business law is an annoying task because although this section is not weighted very heavily compared to other sections (approximately 10-20% according to the AICPA), there is still a large volume of information that needs to be absorbed.

Yes, corporate and entity taxation is considered the “meat and potatoes” of this exam, but if you’re sitting in the 70-80% range, 10-12 points can go a long, long way. My plan of attack when studying for regulation is as follows:

(1) Individual Taxation – Go heavy on the mnemonics and create your own. Make sure to know the differences between adjustments and miscellaneous itemized deductions. In addition, make sure to know which individual credits are refundable and which are non-refundable.
(2) Entity and Corporate Taxation – Make sure to know the key differences between C-Corps, S-Corps and Partnerships. How to calculate basis, what are the differences between distributions and liquidations, and what are their respective taxable income items and deductions.
(3) Business Law – Read and do as many practice questions as possible.

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Starting April 1, 2017, the Uniform CPA Exam dramatically changed its test format adopting a larger emphasis on critical thinking and advanced order skills. Universal CPA Review offers supplemental support by testing your knowledge and preparing you for test day.

The Uniform CPA exam is an extremely comprehensive, and detail-oriented exam. If you are currently or are planning on working in the industry of accounting, obtaining your CPA license is paramount to your career success. With Universal CPA Review, we are dedicated to offering you sufficient practice material, and testing you on aspects of the exam that you are guaranteed to see on test day. With Universal CPA Review not only are you able study smarter, but you do so without spending thousands of dollars on over-priced review course

Section scores are reported on a scale that ranges from 0-99. A total reported score of 75 is required to pass each section. This is not a percent correct score and cannot be interpreted as a percentage. The total score in the Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), and Regulation (REG) sections is a weighted combination of scaled scores from the multiple-choice and task-based simulation questions. For the Business Environment and Concepts (BEC) section, the total score is weighted combination of the scaled scores from the multiple-choice questions and written communication tasks. Scaled scores on the multiple-choice and task-based simulation portions of the Exam are calculated using formulas that take into account factors such as whether the question was answered correctly and the relative difficulty of each question.

Our Story

We are CPAs that wanted to make an accessible, cost-effective and efficient CPA studying platform. University CPA Review is a New York City based company that is built on an old school study foundation: we believe that there is no secret formula to passing these exams and that the only way to truly understand the material is through repetition, and to put in the time. Universal CPA Review is passionate about delivering a low cost yet highly effective approach to passing these exams. We are committed to offering you with the highest quality study materials and support.

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