The CPA exam is complex and can be difficult to pass without adequate study time. A plan to study...

Question

The CPA exam is complex and can be difficult to pass without adequate study time. A plan to study adequately is essential to pass the exam. To study, you must fully understand what is on the exam.

Tasks:

Pick one of the main five topics covered in the BEC section of the CPA exam: corporate governance, economic concepts and analysis, financial management, information technology, and operations management.

Identify the different components that make up the main topic you choose.

Analyze the importance of understanding these components.

Evaluate how you would study for these components.

Compare how you would study for the Regulation (REG) and BEC sections of the CPA exam.

Evaluate the different sections of the CPA exam and identify study tips for each section.

Khushboo · Accepted Answer

CORPORATE GOVERNANCE
Identification of different component 
Corporate governance can be defined as the manner and the purpose for which the entities are governed. It helps in the establishment of the authority and accountability of the individual. It is an important tool for helping the management and the board for coping with the problems of the business operations. It ensures that the entity is having proper decision-making procedures and control for balancing the interests of all stakeholders. There are various component or element of the corporate governance such as risk management, accountability, transparency, compliance, audit, audit committee, ethics, internal control, integrity, internal audit, fairness, shareholder and the equity inclusiveness. Each topic is having their own importance but we have selected corporate governance as prime topic for discussion.
Analysis of the importance of the components
It is very important for understanding all the components of corporate governance and each component of corporate governance has its own importance. For example, the audit committee is one of the independent committees established by the entity under the supervision of independent directors and audit committee oversee the overall compliance framework and responsible for internal controls over financial reporting.

The CPA exam is complex and can be difficult to pass without adequate study time. A plan to study adequately is essential to pass the exam. To study, you must fully understand what is on the...

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