CPA Study Guide 2026

Everything you need to pass the CPA exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.

CPA exam key facts

CPA Program exam candidates have 195 minutes to answer the exam questions within a 225-minute appointment. Source
CPA Australia sets the passing scaled score for each CPA Program subject through a specialist panel of CPAs, and candidates who meet or exceed it pass. Source
CPA Australia charges A$650 for each foundation exam enrolment. Source
A candidate can fail a CPA Program foundation subject only three times, which means a maximum of four attempts. Source
Candidates have six years from becoming an Associate member to complete the CPA Program. Source

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📋 CPA Exam Format at a Glance

Questions

180 min

Time Limit

60%

Passing Score

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📚 CPA Topics to Study (29)

Auditing & Assurance Services · 9 cards Financial Accounting & Reporting · 9 cards Management Accounting & Strategy · 9 cards Taxation & Business Law · 9 cards Auditing & Assurance Services · 7 cards Auditing & Assurance Services · 7 cards Auditing & Assurance Services · 7 cards Auditing & Assurance Services · 7 cards Governmental & Not-for-Profit Accounting · 7 cards Auditing Principles & Procedures · 6 cards Client Advisory Services · 6 cards CPA Business Environment & Concepts · 6 cards CPA Business Environment & Concepts · 6 cards CPA Business Environment & Concepts · 6 cards CPA Cost Accounting & Budgeting · 6 cards CPA Cost Accounting & Budgeting · 6 cards CPA Cost Accounting & Budgeting · 6 cards CPA Ethics & Professional Responsibilities · 6 cards CPA Ethics & Professional Responsibilities · 6 cards CPA Ethics & Professional Responsibilities · 6 cards CPA Ethics & Professional Responsibility · 6 cards CPA Ethics & Professional Responsibility · 6 cards CPA Ethics & Professional Responsibility · 6 cards Financial Analysis & Reporting · 6 cards Financial Modeling & Forecasting · 6 cards Investment Strategies · 6 cards Regulatory Compliance & Standards · 6 cards Risk Assessment & Underwriting · 6 cards Tax Planning & Compliance · 6 cards

✍️ Sample CPA Questions & Answers

1. What is the purpose of data analysis in CPA practice?

✓ Transforming raw data into insights for informed decision-making

Data analysis examines, cleans, and models data to discover useful information and support decision-making.

2. What is accrual accounting?

✓ Revenues and expenses are recognized when earned or incurred.

Accrual accounting is an accounting method where revenues and expenses are recorded when they are earned or incurred, regardless of when cash actually changes hands. This provides a more accurate picture of a company's financial performance over a period, as it matches revenues with the expenses that generated them. It contrasts with cash basis accounting, where transactions are recorded only when cash is received or paid.

3. How do regulations differ from standards in CPA practice?

✓ Regulations are legally binding; standards are typically voluntary

Regulations are legally enforceable government rules; standards are industry-developed guidelines that may become requirements through adoption.

4. What is an internal control in CPA financial management?

✓ A process providing assurance about financial reporting reliability

Internal controls safeguard assets, ensure accurate reporting, promote efficiency, and ensure compliance.

5. Under the concept of 'independence in appearance,' a CPA should:

✓ Avoid situations that a reasonable observer might question as compromising objectivity

Independence in appearance means avoiding circumstances that a reasonable, informed third party would view as compromising the CPA's objectivity.

6. Under the AICPA Code of Professional Conduct, which threat to independence arises when an auditor has a loan from an audit client?

✓ Self-interest threat

A financial relationship such as a loan from an audit client creates a self-interest threat because the auditor has a personal financial stake in the client's outcome.

🎯 Free CPA Practice Tests

Financial Accounting & Reporting · 9 questions Taxation & Business Law · 9 questions Auditing & Assurance Services · 9 questions Management Accounting & Strategy · 9 questions Auditing & Assurance Services · 7 questions Auditing & Assurance Services · 7 questions Auditing & Assurance Services · 7 questions Governmental & Not-for-Profit Accounting · 7 questions Auditing & Assurance Services · 7 questions Financial Analysis & Reporting · 6 questions

📖 CPA Guides & Articles

Your CPA Study Path

1. Learn with Flashcards → 2. Drill Practice Tests → 3. Take the Full Exam Simulation

🃏 CPA Flashcards (191)🏆 CPA Exam Simulation

What Practice Test Geeks adds beyond an AI chat for CPA

An AI chatbot can quiz you, but it can't reproduce the exam conditions or keep your record. Here you get:

A timed, full-length CPA mock exam — 60 questions in 180 minutes with a 60% pass mark, modeled on the official exam's question count and time limit, followed by a score report broken down by exam domain.
A fixed CPA question bank: the same test every attempt, so your score is comparable from one try to the next instead of changing with every regenerated quiz.
Progress saved on your device: completed tests, scores and missed questions stay in My Progress, so you can retake only what you got wrong.
A printable CPA cheat sheet you can print or save as a PDF.
CPA flashcards built from the same question bank.
Free CPA practice tests with the correct answer shown after each question.

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How this page was made: written with AI tools and published by Nathan Beja, founder of Practice Test Geeks, who is responsible for its content. Exam facts are checked against the official sources listed below. Not reviewed by a subject-matter expert. Editorial policy

Sources & references

Exam facts on this page (fees, format, dates, passing scores) are checked against these official sources; the date is our last check. Editorial policy

cpaaustralia.com.au — Retake policy, score validity, fees, renewal, passing score, test delivery, time limit · verified Oct 2026