ABA EXAM BLUEPRINT

Please note that this blueprint is simply a list of topics you will most likely encounter on the exam. This does not necessarily correspond to the table of contents for the ACAT Prep Course offered by the National Society of Accountants.

Accounting
100 questions from these topics:

Topic 1 - Accounting Principles & Pronouncements
Topic 2 - Record Setup
Topic 3 - Accounting Cycle
Topic 4 - Cash vs. Accrual
Topic 5 - Revenue Recognition
Topic 6 - Adjusting, Reversing, Closing Entries & Error Correction
Topic 7 - Worksheet Preparation
Topic 8 - Financial Statement Preparation & Presentation

Balance Sheet
Income Statement
Statement of Cash Flows & Analysis
Statement of Changes in Equity
Supplemental Information
Disclosures

Topic 9 - Accounting for Cash and Equivalents
Topic 10 - Accounts & Notes Receivable
Topic 11 ­ Investments
Topic 12 ­ Inventories
Topic 13 - Property & Equipment - Depreciation & Depletion
Topic 14 - Intangible assets & Amortization
Topic 15 - Current Liabilities & Long-term Liabilities
Topic 16 - Stockholder's Equity
Topic 17 ­ Payroll
Topic 18 - Accounting for Leases
Topic 19 - Accounting for Pensions
Topic 20 - Accounting Pronouncements
Topic 21 - Engagement Letters
Topic 22 - Other Comprehensive Basis of Accounting
Topic 23 ­ Statements of Changes in Equity
Topic 24 - Statement & Ratio Analysis
Topic 25 - Working Capital Changes
Topic 26 - Cash Flow Analysis

Half Hour for Lunch

Practice 2 ­ Afternoon Session

Business Consulting Services
28 questions from these topics:

Topic 1 - Cost-Volumes-Profit Analysis
Topic 2 - Departmental Analysis
Topic 3 - Time Value of Money
Topic 4 - Capital Budgeting
Topic 5 - Capital Investment Analysis
Topic 6 - Budgets
Topic 7 - Managerial Decisions
Topic 8 - Provide Cash Flow Planning Services/Cash Budgeting
Topic 9 - Evaluating Internal Control Systems
Topic 10 - Evaluating Investments/Business Opportunities
Topic 11 - Identify Employee Benefit Plans

Business Law
15 questions from these topics:

Topic 1 - Property Law
Topic 2 - Contracts
Topic 3 - Uniform Commercial Code
Topic 4 - Agency
Topic 5 - Partnerships
Topic 6 - Corporations
Topic 7 - Trusts
Topic 8 - Limited Liability Entities

Ethics
8 questions relating to the ACAT Code of Ethics and interpretations and the IRS publication, Circular 230.

Taxation
50 questions from these topics:

Topic 1 - Filing Considerations/General (including: Filing requirements; Filing Status, Claiming of dependents, phase-out exemptions)

Topic 2 - Accounting Methods (including: Adopting or changing tax year; Adopting or changing accounting methods; Installment sales; Cash vs. accrual)

Topic 3 - Inclusions in Income (including; Compensation income and arrangements; Fringe benefits; Debt relief; Other income, Social Security, Unemployment Compensation; Retirement Distributions)

Topic 4 - Adjustments to Income (including; Alimony; Self-employment health insurance; Keogh/SEP contributions; IRA contributions; Self-employment tax deduction; Moving expense; Early withdrawal penalty)

Topic 5 - Itemized Deductions (including: Medical expense; Tax expense; Interest expense; Charitable contributions; Miscellaneous; Unreimbursed employee business expense; Casualty of theft losses; Reduction in total itemized deductions)

Topic 6 - (a) Sole proprietorship; (b) Self-Employment; and (c) Rental Activity (including: Trade or business activities; Inventory; Depreciation and amortization; Business use of home; Farming activities; Rental activities; Basis of assets)

Topic 7 - Taxation of Investments and Planning (including: Sale of capital assets; Income from investments; Vacation home; Like-Kind exchange; Section 1231 property; Passive activities, at risk rules)

Topic 8 - Income Tax Credits (including: Personal credits (EITC, foreign, dependent care, etc.); Business credits (low income housing, R & D, et al.); Estimated taxes and withholding)

Topic 9 - Special Tax Computations (including: Alternative minimum tax; Tax on lump sum distributions; "Kiddie tax"; Self-employment tax; Capital gains; Retirement distribution penalties; Passive computations)

Topic 10 - Taxation of Partnerships (including: Allocation of incomes or loss: Formation of partnership rules; partnership distributions and guaranteed payments; Liquidation of partnerships

Topic 11 - Corporate Taxation (including: Computation of taxable income; Special corporate taxes; Corporate distributions: Corporate reorganizations and liquidations)

Topic 12 - S Corporations (including: S corporation elections; S corporation income and pass-through; S corporation distributions)

Topic 13 - Fiduciary Income Tax Returns (including: Basic characteristics of fiduciary income taxation (conduit principle); Issue of simple vs. complex trust or estate; Grantor trusts)

Topic 14 - Federal Estate Tax Returns (including: Inclusions in gross estate; Computations of taxable estate and federal estate tax: Basis of assets acquired from decedents)

Topic 15 - Limited Liability Entities

Topic 16 - Self Employment Issues

Topic 17 - Divorce Issues

Topic 18 - Independent Contractor Issues

Topic 19 - Non-Profit Issues