The Business Environment and Concepts (BEC) section tests knowledge and skills that a newly licensed CPA must demonstrate when performing:
- Audit, attest, accounting and review services
- Financial reporting
- Tax preparation
- Other professional responsibilities in their role as certified public accountants
The content areas tested under the BEC section of the Exam encompass five diverse subject areas. These content areas are corporate governance, economic concepts and analysis, financial management, information technology, and operations management.
| 1 |
Corporate Governance Structure and Regulations
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| 2 |
COSO Frameworks
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| 3 |
Microeconomics
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| 4 |
Macroeconomics
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| 5 |
International Economics
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| 6 |
Risk Return Principles
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| 7 |
Financial Risk Management
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| 8 |
Corporate Capital Structure
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| 9 |
Working Capital I: Cash and Receivables
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| 10 |
Working Capital II: Inventory and Short-Term Financing
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| 11 |
Capital Budgeting
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| 12 |
IT Roles, Systems, and Processing
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| 13 |
IT Software, Data, and Contingency Planning
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| 14 |
IT Networks and Electronic Commerce
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| 15 |
IT Security and Controls
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| 16 |
Performance Measurement and Process Management
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| 17 |
Budget Components
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| 18 |
Costing Fundamentals
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| 19 |
Costing Methods
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| 20 |
Costing Systems and Variance Analysis
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