Advantage Montreal Seminars Inc.

IQEX Course Outline
 
 

The purpose of IQEX (International Uniform Certified Public Accountant Qualification Examination) is to facilitate the US CPA qualification process for those accounting professionals from other countries whose professional bodies have entered into reciprocity agreements with the US accounting profession. At present, such agreements are in effect only with the Canadian Institute of Chartered Accountants (CICA), the Institute of Chartered Accountants (U.K.) , Australian Certified Public Accountants in Australia (ICAA), New Zealand Chartered Accountants and Mexican Contadores Publicos. The examination is a four and one-half hour objective item examination prepared by the American Institute of Certified Public Accountants (AICPA). The examination is offered only in English and is administered as a Computer Based Test (CBT) once a year in September.

CPA / IQEX Professional and legal responsibilities (10%)

Federal tax procedures and accounting issues (6%-10%)

Federal taxation of property transactions (6%-10%)

Federal taxation of individuals (10%-14%)

Federal taxation of entities (18%-22%)

A. C Corp

B. S Corp

C. Partnerships

D. Trusts

Accounting and reporting for governmental entities and for nongovernmental not-for-profit organizations (2-5%) 

A. Governmental accounting concepts

B. Format and content of governmental financial statements

C. Financial reporting entity including blended and discrete component units

D. Typical items and specific types of transactions and events: recognition, measurement,

     valuation and presentation in governmental entity financial statements in conformity with GAAP

E. Accounting and financial reporting for governmental not-for-profit organizations

F. Accounting and reporting for nongovernmental not-for-profit organizations

Ethical and Professional and Legal responsibilities (12 - 16%)

A. Code of Professional Conduct

B. Proficiency, independence, and due care

C. Ethics and responsibilities in tax practice

D. Licensing and disciplinary systems imposed by the profession and state regulatory bodies

E. Legal responsibilities and liabilities

Business law (16% – 20%)

A. Agency

B. Contracts

C. Debtor-creditor relationships

D. Government regulation of business

E. Uniform commercial code

F. Real property, including insurance

Business structure (10%)

Recent Regulatory Issues (5-8%) (For example, but not limited to)

A. Sarbanes-Oxley Act

B. Securities and Exchange Commission

C. Public Company Accounting Oversight Board