1. Information/Study Plan Session
2014 UFE / 2015 CFE

2. Agenda Introduction New CPA Program
Current Program – 2014 UFE – Fast Trackers - Knowledge Required
4) Current program - Structure of the CKE, SOA and UFE
5) Preparing a study plan
6) Who is PASS?
Outline of PASS Program – Not Fast Tracking
Outline of PASS Program – Fast Tracking
Should I fast track and write this year in May 2014
Registration Information
Study Plan

3. Introduction Two options available to students:
Write exams leading up to CPA under current system – Fast Track
Write exams leading up to CPA under new system
Under Fast tracking option students would write 3 exams in 2014:
CKE – May 5 (results May 16)
SOA – June 2 (final exam June 24/25 / results July 18)
UFE – Sept (results Nov. 28)
Students who don`t fast track would only begin to write exams at the earliest in September 2014 and would not have to begin their studies until after completing university
Study Plan

4. Introduction
Only students who have a job offer can fast track; other students must enter the new CPA educational program
Our purpose is to familiarize students with both the current and the new educational system
We would also like to talk about PASS and how it can help you get through the exams under both systems
For those students who have the option of fast tracking we will also talk about the pros and cons of fast tracking
Study Plan

5. Information/Study Plan Session
New CPA program 5

6. DIAGRAM OF CPA PROFESSIONAL
EDUCATION PROGRAM
Case Writing Techniques

7. New CPA Qualification System – 2015 Summary of Program
Education program normally takes 2 years from start to finish
Program can however be completed in Ontario in only 1 year if
1) You have your 51 credit hours; and
2) You have at least a 70% average in the required courses
by writing “Challenge Exams” rather than participating in the 2 core and 2 elective modules
Study Plan

8. New CPA Qualification System – 2015 Summary of Program
Challenge Exams would be completed in Fall 2014 and Winter 2015– could write first challenge exam at end of September
Challenge exams offered only for Tax and Assurance electives – if you wish to take other electives would need to do the program over 2 years and take the respective elective modules
After passing Challenge Exams you would go directly to Capstone Integrative Module – mid May to July 2015 and then the Capstone Evaluation Preparation – end of July & August 2015
First CFE is in September 2015
Study Plan

9. Case Writing Techniques

10. Description of CFE
CFE covers the same 6 Competencies covered in Core modules:
1) Audit & Assurance
2) Financial Reporting
3) Management Accounting
4) Finance
5) Taxation
6) Strategy and Governance
Study Plan

11. CFE
Required to choose 2 “Depth” areas on the CFE and would need to only achieve “Breadth” in the others areas
Depth area does not need to correspond with areas selected for elective modules
For CPA External Audit, would need to choose as Depth areas, Audit & Assurance and Financial Reporting
Otherwise would choose either Financial Reporting or Management Accounting plus any one of the other 4 competencies
Roll on CFE is expected to differ depending on depth areas chosen –also different exhibits will be provided depending on depth area
Study Plan

12. Information/Study Plan Session
Current Education
Program Leading to 2014 UFE
(Fast Trackers) 12

13. Current Education Program- Level of Technical Knowledge Required
For all 3 exams: CKE, SOA and UFE students are responsible for 6 technical competencies
Governance, Strategy and Risk Management
Performance Measurement and Reporting (PMR)
Assurance
Finance
Management decision making
Taxation
Study Plan

14. Current Education Program- Level of Technical Knowledge Required
Competencies are similar to new system but there is no choice of depth areas; 2 depth areas for all students are Assurance and PMR
Level of knowledge required in PMR is similar for both current and new CPA program
Level of knowledge required in finance, management accounting and governance & strategy is lower under the current program than under the new CPA program
Level of knowledge required in assurance and tax is similar under both programs assuming that student chooses assurance and tax as depth areas under the new program; otherwise more knowledge of assurance and tax is required under the current program
Study Plan

15. Structure of CKE
CKE is a purely technical 100 questions exam over 4 hours
Each question is 1 mark – max 2.4 minutes
Questions are single competency
Order of competencies random
Historically – approx. 75% - 80% pass (not disclosed)
Passing mark – 50 – 60??? (not disclosed)
Study Plan 15

16. Structure of SOA SOA consists of 2 papers over 2 days
First day is 5 hour comprehensive simulation (Approx pages)
Next day: 4 hour paper consisting of a number of simulations (Approx 60 to 90 minutes each)
3 simulations on second day
All cases will test more than one competency
Each day is weighted 50%
Study Plan 16

17. Competencies Weightings
CKE and SOA
Competency
Weighting
Governance, Strategy and Risk Management 5%
Performance Measurement and Reporting
25%
Assurance
30%
Finance
10%
Management Decision Making
15%
Taxation
Study Plan 17

18. Structure of UFE UFE consists of 3 papers over 3 days
First day is 5 hour comprehensive simulation (Approx pages)
Next two days: 4 hour papers consisting of a number of simulations (Approx 60 to 90 minutes each)
3 simulations per multi day
All cases will test more than one competency
Study Plan 18

19. Competencies Weightings
UFE
Competency
Weighting
Governance, Strategy and Risk Management
5% - 10%
Performance Measurement and Reporting
20% - 30%
Assurance
25% - 35%
Finance
10% - 20%
Management Decision Making
Taxation
Study Plan 19

20. Studying for the Provincial Program Exams / UFE
New style required relative to University
Balancing technical study with case writing – Winter versus Summer
Writing full 4 hours versus one case at a time
Use of study group
Technical study sources and old UFEs
Preparing a study plan
Study Plan 20

21. Example of Study Plan
Will present example of study plan for “Average Joe”
Plan needs to be tailored to suit your needs
Means considering a number of factors including:
When you are writing the CKE - May, 2014
University vs. CKE studying
Personal commitments - family, weddings etc.
Vacations
Study Plan

22. Case Writing Techniques
Course starts Jan. 26
Case Writing Techniques

23. Case Writing Techniques
CKE – May 5
SOA begins – June2
Case Writing Techniques

24. Case Writing Techniques
Start writing Old UFEs right after SOA end
Write 2008 and 2009 before PASS UFE Course begins
PASS UFE course begins July 23
Case Writing Techniques

25. Case Writing Techniques

26. Case Writing Techniques
Write 2010 to 2013 after PASS Course ends
Main focus in summer is case writing – minimal time on technical
Case Writing Techniques

27. Case Writing Techniques
CKE
CKE
SOA
UFE
Case Writing Techniques

28. Who is PASS? PASS began offering UFE courses in 1989
PASS courses are offered in all of the large 4 firms – PWC, KPMG, EY and Deloitte & Touche and numerous mid-size firms
PASS courses are offered across Canada
Michael Levi, co-director of PASS, former Gold Medalist
Instructors have professional UFE marking experience
Consistent excellent feedback from students
Study Plan

29. Pass Team Ira Walfish Michael Levi Jethro Bushenbaum Narmin Multani
Liz Farrell
Laura Simione
Study Plan 29

30. Outline of PASS Ontario Program
Program consists of 4 Components:
CKE Course
SOA Course
Summer Comprehensive Course
PASS Publications
Program provides training for all Exams necessary for obtaining CA
By signing up for a program students can save money compared with taking courses individually as discounts are built into the programs
Students can combine in-class and online courses in their program
Study Plan 30

31. Course Delivery Formats
3 Course Formats
In-Class
Live Online
Video
** Students can combine any of the above options **
Study Plan

32. Information/Study Plan Session
New
PASS
CPA Program
(Not Fast-Tracking) 32

33. New CPA PASS Program PASS will prepare you for all of the exams:
Core 1
Core 2
Elective Modules 1, 2, 3 & 4
CFE
Study Plan

34. New CPA PASS Program (To Be Decided….)
CPA Canada / ICAO are currently deciding whether to allow candidates to write 2 exams on one day
Core 1 (C1) Fin. Act’g / Core 2 (C2) Mgmt. Act’g.
Elective 3 (E3) Assurance / Elective 4 (E4) Tax
If not allowed – write 4 exams in fall of 2014 or some in winter 2015
-- Sept. 27 (C2) / Nov. 22 (C1) / Dec. 19 (E3) / Dec. 20 (E4) Or
-- March 2015 (4 exams – C2, C1, E3, E4 – cannot write all 4)
If allowed – write: Sept. 27 or Dec. 20 or Mar (C2)
Sept. 27 or Dec. 19 or Mar (E3)
Nov. 22 or Mar (C1)
Dec. 20 or Mar (E4)

35. New CPA PASS Program (Options - Assume 1 exam per day)
FALL 2014 EXAMS
WINTER 2015 EXAMS
Core 2 – Sept (Gov., Mgmt. Acc.)
Core 2 – March (Gov., Mgmt. Acc.)
Core 1 – Nov (Fin. Act’g.)
Core 1 – March (Fin. Act’g.)
Elective 3 – Dec (Audit)
Elective 3 – March (Audit)
Elective 4 – Dec (Tax)
Elective 4 – March (Tax)
Capstone 1 – May – July, 2015
Capstone 2 – Aug, 2015
CFE – September, 2015
Study Plan 35

36. New CPA PASS Program (Options - Assume 2 exams per day)
FALL 2014 EXAMS (1 EXAM PER DAY)
FALL 2014 EXAMS (2 EXAMS PER DAY)
WINTER 2015 EXAMS
Core 2 – Sept (Gov., Mgmt. Acc.)
Core 2 – Sept. 27 (Gov…) Elective 3 – Sept. 27 (Audit)
Core 2 – March (Gov., Mgmt. Acc.)
Core 1 – Nov (Fin. Act’g.)
Core 1 – March (Fin. Act’g.)
Elective 3 – Dec (Audit)
Elective 3 – March (Audit)
Elective 4 – Dec (Tax)
Core 2 – Dec. 20 (Gov…)
Elective 4 – March (Tax)
Capstone 1 – May – July, 2015
Capstone 2 – August, 2015
CFE – September, 2015 36

37. New CPA PASS Program (Core 1, 2, Electives 3, 4)
Core 2 – Management Accounting, Planning and Control - Sept. 27 or Dec. 20, 2014
Elective Module 3 – Assurance – Sept. 27 or Dec. 19, 2014
Core 1 – Financial Accounting and Reporting – Nov. 22, 2014
Elective Module 4 – Taxation – Dec. 20, 2014
Preparatory sessions in all competencies
14.5 full days of instruction:
Financial Act’g. – 5.5 days / Assurance – 1.5 days
Tax – 2 days / Management Act’g. – 1.5 days
Finance – 1 day / Governance, Strategy, IT – 1 day
Practice Cases – 2 days n

38. New CPA PASS Program (Core 1, 2, Electives 3, 4 cont.)
Course offering options:
(1) Mid to Late August – In-Class – Toronto (and Ottawa*)
(2) Mid August to Mid Sept. – Online (Sundays and Nights)
(3) Sept. to Nov. – In-Class – Toronto (and Ottawa*)
Practice both objective testing questions (i.e. multiple choice and other types of short answers) and at least 1 sample case for each exam
Course offered either: (1) In-Class
(2) Live Online
(3) Video (watch anytime once uploaded)
Can mix and match – i.e. In-class or/and live online or/and video
* Subject to enrolment, one Ottawa in-class course will be held

39. New CPA PASS Program (2015 Exams)
Core 2 – Management Accounting, Planning and Control – March 2015 Exam
Core 1 – Financial Accounting and Reporting – March 2015 Exam
Elective Module 3 – Assurance – March 2015 Exam
Elective Module 4 – Taxation – March 2015 Exam
Preparatory sessions in all competencies
14.5 full days of instruction
Dec to Mar (tentative)
Course offered either: (1) In-Class (and some live online sessions)
(2) Video (watch anytime)

40. New CPA PASS Program (CFE)
CFE – Sept Exam
Preparatory sessions will take place between March 2015 and September 2015
Combination of Case Writing and Technique Sessions
Professional experienced markers
Course offered either: (1) In-Class
(2) Live Online
(3) Video (watch anytime)
Study Plan

41. Information/Study Plan Session
PASS Program
Current Program 41

42. CKE Course 12 full days of instruction (Sundays only)
Technical review of all 6 competencies
3 simulated 100 question practice multiple choice exams
Comprehensive binder with technical summaries and hundreds (approx. 650+) of multiple choice questions
Course offered either: (1) In-Class
(2) Video
** It is expected that students will do a combination of in-class sessions & videos **
Study Plan

43. SOA Course Learn how the SOA is marked
Instruction on how the SOA differs from the UFE and specific techniques relevant to the SOA exam
Write simulated multi competency cases and comp specifically designed for the SOA
4 multi competency cases and 1 comprehensive paper – professionally marked and debriefed in class
3 Days of Instruction
Course offered either: (1) In-Class
(2) Live Online
(3) Video

44. Summer Comprehensive UFE Course
Provides all the tools you need to pass the UFE
Consists of writing practice cases and ``technique sessions``
Write 2 multi exams (3 questions each) and 2 comps - Cases marked professionally and debriefed in class
Personal counselling session with professional marker – will tell you what you need to do to pass
Receive comprehensive binder and detailed UFE guides for UFE
All sessions recorded and videos available
11 days of Instruction 44

45. UFE Technique Sessions
Provides specific techniques for excelling on UFE cases:
Audit Integration – key points for getting depth in assurance
Financial Accounting Integration – essential techniques for analyzing issues in sufficient depth
Numerical Methods – learn how to number crunch efficiently and effectively
How to Write a Comp – develop structured approach
Taxation Strategies in UFE Cases – review common tax scenarios that come up in UFE and how to attack them
All sessions recorded and videos available
Sessions are not intended to be technical
Study Plan 45

46. PASS Publications Publications for Students in the PASS Program
Comprehensive CKE Binder including the multiple choice practice questions and answers and 3 full 100 question exams
Detailed SOA Evaluation Guides – 2009 – 2013
Detailed UFE Evaluation Guides – 2007 – 2013
Financial Accounting on the UFE – An Integrated Approach for the 2014 UFE
Study Plan

47. Optional Courses (Not part of Program)
Winter SOA / UFE Case Writing Course
Financial Accounting IFRS/ASPE Review
Comp Writing Course
Study Plan

48. Winter Case Writing Course (Optional – Not Part of Program)
Practice case writing for both the SOA and UFE
Study plan session
Introduction to writing cases
Write and hand in 2 multis (2 questions each) and 1 comp
Cases marked and returned
Cases debriefed
Sessions offered in-class or live online or video
Study Plan

49. Financial Accounting IFRS/ASPE Review (Optional – Not Part of Program)
Intended to provide extra help with integrating financial accounting into case writing
Short 2 evening course
Quick Review of financial accounting topics
2 practice cases incorporating many IFRS issues
Useful for both SOA/UFE
Both sessions only offered live online and video
Study Plan

50. Comp Writing Course (Optional – Not Part of Program)
Intended to provide extra help with writing the Comp
Write 2 extra comps – marked and debriefed
Personal counselling session with comp marker
Walk through comp with instructor
All sessions recorded and videos available
3 extra days of instruction (if taken with UFE Comprehensive Course)
Study Plan 50

51. PASS Program Summary
Ontario CKE, SOA and Comprehensive (Summer) UFE Program
In summary - The PASS program for university students consists of:
CKE Course – 12 days
SOA Course – 3 days
Summer UFE Comprehensive Course – 12 days
4 Publications
Program especially tailored for students who want to fast track and write the CKE, SOA and UFE in 2014
Study Plan 51

52. PASS Program Summary (continued)
Optional Courses
In summary – There are 3 optional courses you can take :
Winter Case Writing Course – 4.5 Days
IFRS Course – 2 Evenings
Comp Writing Course – 3 Days
Study Plan

53. Should I Fast Track?– Pros and Cons
Same system as in previous year – Predictable, historical results, not a guinea pig
In study mode
If successful – no need to study when working, advance more quickly
If only pass CKE, no need to write Core 1 and 2
If unsuccessful in SOA or UFE, write SOA make-up Nov. 7/8 or 14/15, 2014 & UFE June 2-4, 2015
Cons
Potentially compromise current course marks
No summer - Time constraint
Study Plan

54. Fast Tracker - Registration
Registering with the ICAO
Need to register as Conditional Student – recommend doing so beginning of 2014
Need to register for each exam:
May CKE and SOA: Registration opens March 1; Late fee after March 15; Deadline March 29
UFE: Registration opens August 1; Late fee after August 16; Deadline August 23
Study Plan

55. Registration for PASS Programs
Registration – Current Program
To register for PASS courses under current educational system, visit the PASS website: passufe.ca and register online
First course in PASS program– the CKE Course - begins at the end of January, so register as soon as possible to ensure a place
Not required to be registered with ICAO before registering with PASS
Study Plan

56. Registration for PASS Programs
Registration – New CPA Program (Not Fast Tracking)
Too early to sign up for courses under the new system; registration will commence in the spring
To be notified of when registration is open and be kept up to date on all the latest developments with regard to writing under the new CPA system including PASS courses available:
Go to passufe.com, click on the first line, click on “University Student information
Session”; then click on “subscribe” in the Information Session box and enter your
name and
Study Plan