Complete Guide to All 6 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, while RFBT has 100. Pass with 75% overall and no subject below 65%.
Study Time Calculator
Plan your study schedule based on 600 recommended hours
Intensive schedule. Consider full-time study or reducing other commitments.
Suggested time per subject (~100 hours each):
- • FAR: 100-120 hrs
- • AFAR: 100-120 hrs
- • MAS: 80-100 hrs
- • Auditing: 80-100 hrs
- • Taxation: 80-100 hrs
- • RFBT: 80-100 hrs
The 6 CPALE Subjects
Click on any subject to learn more about its coverage and study tips
FAR
Financial Accounting and Reporting
PFRS/PAS framework, financial statements, revenue recognition, assets, liabilities, and equity.
AFAR
Advanced Financial Accounting and Reporting
Business combinations, consolidated FS, government accounting, specialized industries.
MAS
Management Services
Cost accounting, financial management, budgeting, capital budgeting, quantitative methods, economics.
Auditing
Auditing Theory and Practice
Philippine Standards on Auditing, internal control, audit procedures, professional ethics.
Taxation
Taxation
Income tax (TRAIN Law, CREATE MORE), transfer taxes, VAT, percentage taxes, local taxation.
RFBT
Regulatory Framework for Business Transactions
Obligations and contracts, corporation law, negotiable instruments, commercial laws.
CPA Board Exam Schedule
The exam runs over 3 consecutive days with AM and PM sessions
Day 1
140 MCQs total
Day 2
170 MCQs total
Day 3
140 MCQs total
Try Sample Questions
Experience the CPA board exam format with these sample questions from each subject
Try Sample Questions
Get a feel for the CPA board exam with these sample questions from each subject
Under PFRS 15, at what point should revenue from the sale of goods be recognized?
Click an option to see the answer
Under PAS 2, which of the following costs should be EXCLUDED from the cost of inventories?
Click an option to see the answer
Under PFRS 16, a lessee should recognize a right-of-use asset and a lease liability for:
Click an option to see the answer
Subject-Specific Study Tips
Expert advice from CPA passers on how to approach each subject
FAR & AFAR
- 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
MAS
- 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
Auditing
- 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
Taxation
- 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
RFBT
- 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 to Avoid
Learn from others' experiences - avoid these frequent pitfalls
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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Frequently Asked Questions
Everything you need to know about the CPA board exam subjects
How many subjects are in the CPA board exam?
The CPA Licensure Examination (CPALE) has 6 subjects spread over 3 days: Day 1 - MAS (70 MCQs) and Auditing (70 MCQs), Day 2 - Taxation (70 MCQs) and RFBT (100 MCQs), Day 3 - FAR (70 MCQs) and AFAR (70 MCQs). Total: 450 MCQs per BOA Resolution No. 30, Series of 2022.
What is the hardest CPA board exam subject?
Difficulty varies by individual, but many examinees find FAR and AFAR challenging due to the breadth of PFRS/PAS standards. Taxation requires memorization of current laws, while MAS needs strong computational skills (70% problem-solving). The key is to identify your weak areas and allocate more study time accordingly.
What is the CPA board exam passing rate in the Philippines?
The CPA board exam passing rate typically ranges from 20-35% per cycle. The May and October exams may have different passing rates. This emphasizes the importance of thorough preparation - most passers dedicate 6+ months of full-time study.
Can I take only some subjects in the CPA exam?
First-time takers must take all 6 subjects. Retakers with conditional status (passed some subjects with at least 65% but failed the overall 75%) can retake only the failed subjects within the allowed period.
What order should I study CPA subjects?
A recommended order is: 1) FAR (foundation for AFAR), 2) AFAR, 3) MAS, 4) Auditing, 5) RFBT, 6) Taxation. However, many prefer to study subjects in exam day order to simulate the actual exam experience.
What is the theory vs computation ratio in CPALE?
It varies by subject: FAR, AFAR, and MAS are 30% theory and 70% problem-solving. Auditing is 50% theory and 50% practice. Taxation is 40% theory and 60% computation. RFBT is 100% theory-based, covering laws and contracts with no computations.
How many hours should I study for the CPA board exam?
Most successful examinees report studying 600-800 hours total, or about 100-120 hours per subject. For a 6-month preparation, this means 3-4 hours daily. Use our Study Time Calculator above to plan your schedule based on your target exam date.
When is the CPA board exam held in the Philippines?
The PRC schedules the CPA Licensure Examination twice yearly - in May and October. The exact dates are announced on the PRC website. Registration typically opens 2-3 months before the exam.
What happens if I fail the CPA board exam?
If you fail, you can retake the exam in the next cycle. If you passed some subjects with at least 65% but failed overall (below 75%), you get conditional status and can retake only the failed subjects. This status is valid for 2 years or 4 exam cycles.
What materials should I use to study for the CPA exam?
Use updated review materials that cover BOA Resolution No. 30 syllabus. Focus on: PFRS/PAS standards for FAR/AFAR, PSA for Auditing, NIRC with TRAIN/CREATE amendments for Taxation, and current editions of commercial law books for RFBT. Practice with past board exam questions when available.