A complete guide to all six CPA board exam subjects.
The Philippine CPA Licensure Examination (CPALE) covers 6 subjects over 3 days with 450 MCQs total. Five subjects have 70 MCQs each; RFBT has 100. Pass with 75% overall and no subject below 65%.
Click a subject
for the full guide.
Cost accounting, financial management, budgeting, capital budgeting, quantitative methods, economics.
Philippine Standards on Auditing, internal control, audit procedures, professional ethics.
Income tax (TRAIN Law, CREATE MORE), transfer taxes, VAT, percentage taxes, local taxation.
Obligations and contracts, corporation law, negotiable instruments, commercial laws.
PFRS/PAS framework, financial statements, revenue recognition, assets, liabilities, and equity.
Business combinations, consolidated FS, government accounting, specialized industries.
Six subjects. Three days.
Four hundred fifty MCQs.
s. 2022
Sample questions
from each subject.
Expert advice from
CPA passers.
- Master the Conceptual Framework before diving into specific standards
- Practice journal entries daily - most questions require working backwards
- Focus on PFRS 15, 16, 9 - these are heavily tested
- For AFAR, understand consolidation elimination entries thoroughly
- Memorize formulas but understand when to apply each one
- Practice CVP problems until you can solve them quickly
- Capital budgeting (NPV, IRR, Payback) appears frequently
- Time yourself - MAS requires computational speed
- Understand the audit process flow from start to finish
- PSA 315, 330, 500, and 700 series are most important
- Know the different types of audit opinions and when each applies
- Ethics questions are straightforward if you know the Code
- Memorize tax rates and brackets - they're frequently tested
- Stay updated on TRAIN Law and CREATE Law provisions
- Practice estate and donor's tax computations
- Understand VAT input/output mechanics thoroughly
- This is pure theory - create summary notes for key provisions
- Focus on Obligations & Contracts (Civil Code) - heavily weighted
- Know the Revised Corporation Code updates
- Practice applying legal principles to scenarios
Common mistakes,
fixes that work.
Not allocating enough time for FAR and AFAR
These subjects need 200+ hours combined. Start early and review PFRS standards systematically.
Memorizing without understanding
Focus on concepts first. Understanding why helps you solve unfamiliar problems.
Skipping mock exams
Take at least 3 full mock exams under timed conditions. This builds stamina and time management.
Ignoring weak subjects
You need at least 65% in every subject. Dedicate extra time to your weakest areas.
Studying outdated materials
Laws change (TRAIN, CREATE). Ensure your reviewers reflect current regulations.
Not practicing computation speed
MAS and Taxation require fast calculations. Practice with a timer regularly.
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