CPA PREP Handbook for the Caribbean

Transcription

1 CPA PREP Handbook for the Caribbean Version to June 30, 2014

2 Welcome This student handbook is the definitive resource for all eligibility, registration, and program details related to the CPA Prerequisite Education Program (CPA PREP) as offered for students in the Caribbean. It offers a thorough and complete overview of what you will need for success throughout your CPA PREP studies. Please note that policies contained within this document are focused primarily on the CPA Prerequisite Education Program (CPA PREP) and are in effect for students admitted prior to June 30, After this time, the CPA Professional Education Program (CPA PEP) will also be introduced in the Caribbean, resulting in the handbook being updated to reflect the addition of the CPA PEP program details. Prices, locations, and dates are subject to change, so please ensure you are reviewing the current version of the document. If you have questions, please contact us via at [email protected].

3 Table of Contents Contents 1. Overview of the CPA Certification Path Overview of the CPA PREP Description of CPA PREP Modules Program Policies CMA Prerequisite Courses (Modules 1-4) CPA PREP Module Materials CPA PREP Technology: Learning Websites and Technical Requirements Course Schedule Fee Schedule for 2014 the Caribbean... 28

4 1. Overview of the CPA Certification Path The CPA designation is the pre-eminent, internationally recognized Canadian accounting and business credential that best protects and serves the public interest. The new CPA certification path builds on the best of existing education programs and creates a challenging and rigorous certification process that meets the needs of large and small organizations in business, public practice, not-for-profit, and government. Elements of the CPA Certification Path: The nationally developed, regionally delivered CPA certification path consists of: A university degree in any discipline Subject area coverage, taken through approved university courses or the CPA Prerequisite Education Program (CPA PREP); Graduate-level CPA Professional Education Program (CPA PEP), which includes relevant practical work experience; and A common final examination. A university degree and prerequisite subject area coverage is required before starting the CPA Professional Education Program. Specific courses will vary by post secondary institution, but candidates will be required to have coverage in the areas of: Financial Accounting Management Accounting Economics Statistics Finance Audit and Assurance Canadian Tax Strategy and Governance Canadian Business Law Information Systems The subject area coverage can be met through approved university courses or the CPA Prerequisite Education Program (CPA PREP).

5 2. Overview of the CPA PREP CPA Prerequisite Education Program (CPA PREP) is an intensive accelerated bridging program designed for those who have a university degree and lack some or all of the necessary prerequisite courses required for admission to the CPA Professional Education Program (CPA PEP). Delivered on a part-time basis to offer students maximum flexibility and accessibility, CPA PREP uses a blend of online learning, self-study, and webinar learning. Classroom-based sessions may be offered for some modules in centres where student demand allows. A modularized program, students complete only those modules they require. The only academic prerequisite for admission to the CPA PREP program will be a university degree from a recognized post-secondary institution. The degree may be in any discipline. The specific subject matter areas covered in each of the modules have been developed to meet the prerequisite requirements defined in the CPA Competency Map and related CPA Competency Map Knowledge Supplement.

6 3. Description of CPA PREP Modules Module 1: Introductory Financial Accounting An overview of the nature and purpose of accounting is provided, covering basic financial analysis, financial statements, the accounting cycle, accounting for cash, receivables, inventories, capital assets, short- and long-term liabilities, bonds and investments. Study time depends on the student s comfort level with the material; hours per week is typical. Students will likely require more study time when advanced materials/concepts are covered. Length/format: self-study; average time to completion is 12 weeks Frequency: Students may register and begin at anytime Prerequisite: University degree in any discipline Evaluation: Final exam with passing grade of 60% Testing location: Arrange with CMA office Please note that Module 1 will be launched by CPA in late A CMA equivalency course for Module 1 will be offered until it is available. Module 2: Introductory Management Accounting This module covers cost-volume-profit relationships, job-order and process costing, activity-based and direct and absorption costing. Budgeting for standard costs, such as material usage, labour, overhead, is also featured. Study time depends on the student s comfort level with the material; hours per week is typical. Students will likely require more study time when advanced materials/concepts are covered. Length/format: self-study; average time to completion is 12 weeks Frequency: Students may register and begin at anytime Prerequisite: University degree in any discipline and Module 1 (or equivalent) Evaluation: Final exam with passing grade of 60% Testing location: Arrange with CMA office Please note that Module 2 will be launched by CPA in late A CMA equivalency course for Module 2 will be offered until it is available.

7 Module 3: Economics Basic microeconomic principles, such as supply and demand, pricing and resource use are covered, as are such macroeconomic principles such as unemployment determinants, inflation, interest rates, GDP and fiscal and monetary policy. Study time depends on the student s comfort level with the material; hours per week is typical. Students will likely require more study time when advanced materials/concepts are covered. Length/format: self-study; average time to completion is 12 weeks Frequency: Students may register and begin at anytime Prerequisite: University degree in any discipline Evaluation: Final exam with passing grade of 60% Testing location: Arrange with CMA office Please note that Module 3 will be launched by CPA in late A CMA equivalency course for Module 3 will be offered until it is available. Module 4: Statistics The focus is on statistical principles used in business, including probability and decision theory, statistical sampling, hypothesis testing, simple and multiple linear regression, and forecasting. Study time depends on the student s comfort level with the material; hours per week is typical. Students will likely require more study time when advanced materials/concepts are covered. Length/format: self-study; average time to completion is 12 weeks Frequency: Students may register and begin at anytime Prerequisite: University degree in any discipline Evaluation: Final exam with passing grade of 60% Testing location: Arrange with CMA office Please note that Module 4 will be launched by CPA in late A CMA equivalency course for Module 4 will be offered until it is available.

8 Module 5: Intermediate and Advanced Financial Accounting As wide-ranging as it is intensive, this module covers everything from measuring and reporting on financial information (cash, receivables, inventories, capital and intangible assets, investments, short- and longterm liabilities, shareholder equity and earnings per share) to financial statement analysis, revenue recognition, note disclosures, accounting for income taxes, pensions, leases, consolidations, foreign currency, as well as not-for-profit and public sector accounting. The module includes streaming lectures/videos, practice problems, weekly lecture notes, instructor support, and a practice/sample exam. The in-class version includes lectures, while the online version includes a weekly tutorial by webinar. Study time depends on the student s comfort level with the material; hours per week is typical. Students will likely require more study time when advanced materials/concepts are covered. Length/format: 12 weeks + testing Frequency: Offered twice per year Prerequisite: University degree in any discipline, plus modules 1-4 (or equivalent exemptions) Evaluation: Quizzes, mid-term exam, a project, final summative exam with passing grade of 60% Testing locations: Specific locations throughout the Caribbean; other centres may be arranged at additional cost and subject to approval. Module 6: Corporate Finance Securities valuations for stocks, bonds and options are covered, along with the time value of money, capital budgeting, investment decisions, weighted average cost of capital, optimal capital structure, working-capital management and dividend policies. The module includes streaming lectures/videos, practice problems, weekly lecture notes, instructor support, and a practice/sample exam. The in-class version includes lectures, while the online version includes a weekly tutorial by webinar. Study time depends on the student s comfort level with the material; hours per week is typical. Students will likely require more study time when advanced materials/concepts are covered. Length/format: 4 weeks + testing Frequency: Offered twice per year Prerequisite: University degree in any discipline, plus modules 1-4 (or equivalent exemptions) Evaluation: Quizzes, mid-term exam, final summative exam with passing grade of 60% Testing locations: Specific locations throughout the Caribbean; other centres may be arranged at additional cost and subject to approval.

9 Module 7: Audit and Assurance Explored at length here are the nature and purpose of audit and assurance engagements, the principles behind these engagements, planning, methodology, standards, documentation, evidence, materiality, risk, internal controls, audit testing, audit reports and current standards. The module includes streaming lectures/videos, practice problems, weekly lecture notes, instructor support, and a practice/sample exam. The in-class version includes lectures, while the online version includes a weekly tutorial by webinar. Study time depends on the student s comfort level with the material; hours per week is typical. Students will likely require more study time when advanced materials/concepts are covered. Length/format: 6 weeks + testing Frequency: Offered twice per year Prerequisite: University degree in any discipline, plus modules 1-5 (or equivalent exemptions). Evaluation: Quizzes, project, final summative exam with passing grade of 60% Testing locations: Specific locations throughout the Caribbean; other centres may be arranged at additional cost and subject to approval. Module 8: Canadian Tax An introduction to both personal and corporate tax principles, this module covers the computation of taxable, employment, business and property income, eligible deductions, capital cost allowance, capital gains and taxes payable. The module includes streaming lectures/videos, practice problems, weekly lecture notes, instructor support, and a practice/sample exam. The in-class version includes lectures, while the online version includes a weekly tutorial by webinar. Study time depends on the student s comfort level with the material; hours per week is typical. Students will likely require more study time when advanced materials/concepts are covered. Length/format: 4 weeks + testing Frequency: Offered twice per year Prerequisite: University degree in any discipline, plus modules 1-5 (or equivalent exemptions). Evaluation: Quizzes, final summative exam with passing grade of 60% Testing locations: Specific locations throughout the Caribbean; other centres may be arranged at additional cost and subject to approval.

10 Module 9: Intermediate and Advanced Management Accounting Pricing decision practices, cost behaviours, relevant costing, cost allocations, inventory and product mix using linear programming, regression and variance analysis, transfer pricing and budgeting are among the topics covered in this module. The module includes streaming lectures/videos, practice problems, weekly lecture notes, instructor support, and a practice/sample exam. The in-class version includes lectures, while the online version includes a weekly tutorial by webinar. Study time depends on the student s comfort level with the material; hours per week is typical. Students will likely require more study time when advanced materials/concepts are covered. Length/format: 8 weeks + testing Frequency: Offered twice per year Prerequisite: University degree in any discipline, plus Modules 1-6 (or equivalent exemptions). Evaluation: Quizzes, mid-term exam, a project, final summative exam with passing grade of 60% Testing locations: Specific locations throughout the Caribbean; other centres may be arranged at additional cost and subject to approval. Module 10: Strategy and Governance Learn about the crucial role governance plays in an organization, shaping its corporate mission, vision, values and objectives, from implementing and evaluating strategy and managing risks to conducting environmental analyses. The module includes streaming lectures/videos, practice problems, weekly lecture notes, instructor support, and a practice/sample exam. The in-class version includes lectures, while the online version includes a weekly tutorial by webinar. Study time depends on the student s comfort level with the material; hours per week is typical. Students will likely require more study time when advanced materials/concepts are covered. Length/format: 4 weeks + testing Frequency: Offered twice per year Prerequisite: University degree in any discipline plus Modules 1-4 or equivalent university level equivalent exemptions Evaluation: Quizzes, final summative exam with passing grade of 60% Testing locations: Specific locations throughout the Caribbean; other centres may be arranged at additional cost and subject to approval.

11 Module 11: Canadian Business Law An overview of both tort and contract law, this module covers specific contractual situations arising in real estate, business and securities transactions. Canadian court procedures and laws governing insurance/guarantees, agency relationships, negotiable instruments, partnerships and incorporated businesses are addressed as well. The module includes streaming lectures/videos and lecture notes. Length/format: Average time to completion is hours Frequency: Available for registration at any time of year Prerequisite: University degree in any discipline Evaluation: Final multiple-choice exam (in-person) Module 12: Information Technology An introduction to understanding the valuable role information systems (IS) play in business operations and management decision making, topics covered include IS and IT concepts, e-business fundamentals, system planning, development, implementation and management. The module includes streaming lectures/videos and lecture notes. Length/format: Average time to completion hours Frequency: Available for registration at any time of year Prerequisite: University degree in any discipline Evaluation: Final multiple-choice exam (in-person)

12 4. Program Policies I. Admissions and Registration Eligibility for CPA PREP To be eligible to begin the CPA PREP, applicants are required to: a) possess an undergraduate degree or higher, and b) be of good moral character. Eligibility for CPA PEP To be eligible to begin the CPA PEP, applicants are required to: a) possess an undergraduate degree or higher b) be of good moral character c) Complete prescribed prerequisite learning: i) The required prerequisite learning subject areas are: Introductory Financial Accounting Introductory Management Accounting Economics Statistics Intermediate and Advanced Financial Accounting Corporate Finance Audit and Assurance Canadian Tax Intermediate and Advanced Management Accounting Strategy and Governance Business Law Information Technology ii) The prerequisite learning may be completed through: (a) pre-approved university courses; (b) through the CPA PREP modules; or (c) a combination of university courses and CPA PREP modules. iii) Attain a minimum grade of 60% (or equivalent) in each of the courses listed in (i). If the student has taken two or more courses for exemption from a module, the student must have received a mark of at least 60% for each course taken. iv) Applicable university course(s) in the following areas need to have been completed within the last 10 years: (a) Intermediate and Advanced Financial Accounting (b) Corporate Finance (c) Audit and Assurance (d) Tax (e) Intermediate and Advanced Management Accounting (f) Strategy and Governance

13 CPA PREP Module Prerequisites 1) Modules 1-4 are prerequisites for all other modules. 2) Students must meet the following sequencing requirements, as appropriate: 3) Module 1 is a prerequisite for Module 2. 4) Module 5, Intermediate and Advanced Financial Accounting, is required for Module 7, Audit and Assurance, and Module 8, Tax, and Module 9. 5) Module 6, Corporate Finance, is required for Module 9, Intermediate and Advanced Management Accounting. 6) Modules 11 and 12 are self-study and may be taken at any time. (once they are available in June 2014) Conditional Admission CPA PREP applicants must satisfy all admission requirements for the respective program before starting the program. Conditional admission will be granted to applicants who have satisfied the requirements to complete the undergraduate degree, but have not been formally granted the degree. CPA PREP students admitted conditionally will not receive module results or be able to enroll in subsequent modules until they provide proof that the degree was granted. Eligibility may be reviewed and conditional admission may also be granted on the basis of unofficial transcripts. However, official transcripts are required to finalize eligibility and registration. Official transcripts are transcripts that are sent directly from the institution to our office via mail. Students will not be eligible to write the midterm or final exam in a module if official transcripts are not received by the date of the exam.

14 Internationally Educated Applicants Degrees from post-secondary institutions recognized as the equivalent of Canadian degrees are accepted. Applicants who were educated outside of Canada, the US, Bermuda, or the Caribbean are required to submit official transcripts to World Education Services (WES) and provide detailed course syllabi to our admissions staff. Further details will follow after a preliminary evaluation of all transcripts once they are received. Note that in some cases applicants who were educated in the Caribbean may also be required to submit official transcripts to WES. Please contact your local CPA office for more information. Internationally educated applicants may be exempt from a module if they have completed an equivalent subject(s) through an accredited educational institution. Coverage will have to be verified that it meets the required CPA knowledge level. Contact your local CPA office for more information. At the present time a module waiver(s) can be granted for internationally educated students for modules 1 to 4 where: a specific equivalency standard cannot be determined, but it is deemed the student should have sufficient coverage in the foundation topic area as related to the CPA requirements; and transcripts are submitted that indicate completion of applicable courses at a minimum 60% international grade conversion. If an international student can provide detailed course syllabi for a possible exemption for CPA Modules 5-12, but the depth of coverage of topics at the required CPA knowledge level cannot be determined or verified, the student may be granted one opportunity to challenge the module s final examination. If unsuccessful the student must complete the entire module. To be successful, internationally educated students should have a high/professional level of English proficiency. This means that individuals are able to articulate ideas orally and in written form with detailed descriptions, opinions, and explanations (preferably at Canadian Benchmark Level 8 in reading/comprehension and listening skills). While this describes the minimum requirements, it is strongly recommended that participants are currently employed in a business position or have two years relevant work experience.

15 Mature Students In exceptional circumstances, applicants who do not possess a university degree may be admitted to the CPA PREP on the basis of prior education and employment. Please contact the program advisor for more details. Program De-Registration or Suspension Students may be deregistered from CPA PREP for: a) non-payment of fees; b) failure to comply with the By-laws, Code of Ethics, or policies of the local CPA body; c) exhausting attempts at CPA PREP modules; d) failure to complete the program within the established time limits (as referenced on page 19) e) failure to submit official documents (in the case of conditional admission); or f) academic misconduct (as identified on page 15). Withdrawals, Deferrals and Refunds Voluntary module withdrawal requests must be made in writing to the registration coordinator. Refunds, less a 10% administrative fee, are issued if the written request is received prior to the official module start date. No refunds are issued for requests received on or after the official module start. Please note that the official module start date takes place up to a week before the first class. Students may defer to the next offering of the module. Only one deferral per module may be granted, and the deferral requests must be made in writing and a fee will apply. Please note that student membership fees are 100% non-refundable. Re-Registrations Students in CPA PREP who leave the program voluntarily can re-register based on the requirements at the time of re-entry. Prerequisite courses and professional education program modules previously completed will be evaluated for current relevance. Additional module requirements must be met.

16 II. Module Evaluation Policies Format All CPA PREP modules end with a final exam that covers all material in the module. Longer modules will also have a mid-term evaluation. Some may also include short quizzes and projects. All quizzes, mid-term, projects, and final exams will be developed nationally and marked regionally/provincially. Exams may include multiple choice and short and long answer questions. Students must present government approved photo identification for the in person exams. Late Assignments, Quizzes, and Projects No late assignments, quizzes or projects will be accepted. Passing a Module To pass a CPA PREP module, students must achieve a passing grade of 60%. The final mark on the module, which may be based on various assessments, determines the passing grade. Repeating a Module Students in the CPA PREP have up to a maximum of three attempts to pass each module. An attempt at a final exam, including a challenge exam, constitutes an attempt. A student who fails the first attempt at a module with a final mark above 50% can rewrite the final exam, which will constitute an overall attempt at a module. If the student fails the second attempt, the student is required to retake the module in order to have a third and final attempt at the exam. A student who fails the first attempt with a final mark less than 50% must retake the module before a second attempt at the exam is permitted. Students who exhaust the three module attempts may receive credit for the module if they earn 60 percent or higher on equivalent prerequisite courses at a recognized post-secondary institution. Academic Misconduct Academic misconduct may include plagiarism, the enabling of plagiarism, theft of another or former student or candidate's work, or unethical behaviour such as lying or cheating. CPA uses plagiarism detection software. Penalties may include: a) a fine, b) being suspended or deregistered from the program, and/or c) a requirement to complete an ethics course.

17 CPA PREP Examination Policies Exams are to be written at the scheduled dates and times. It is mandatory for students to attend exams at their scheduled times. Extensions will only be given under exceptional documented medical circumstances. All exams will be 4 hours in length. Exams may contain multiple choice, short answer and long answer questions. Students are allowed to make use of the following permissible supplies: a) official examination supplies provided by the presiding officer; b) a permitted calculator (TI BAII Plus or TI BA II Plus Professional Model only); and c) pens, pencils, highlighters, erasers, and rulers. Students are expected to act as professionals at all times during the CPA PREP exams. Please note the following instructions regarding exam writing conduct: All program exams are closed-book exams. Textbooks, notes, cell phones and programmable electronic devices are prohibited. Students are permitted and expected to use a calculator during exams. Any form of collaboration between parties related to cheating including, but not limited to, copying from another paper, allowing copying from a test paper or a student having a cheat sheet will result in an automatic mark of zero on the test for all parties involved. Students are not permitted to keep the exam question booklet as it is the intellectual property of CPA Canada. If an exam question booklet is removed from the exam envelope and not returned, the student will receive a zero on their exam paper. During the exam, students must refrain from communicating with each other; any concerns that may arise during the exam must be conveyed directly to the invigilators. Students may leave the exam venue after they have completed the exam up until fifteen minutes before the end of the exam; at that point, all students should remain seated and refrain from any activities that can disrupt other exam writers. Students are obliged to follow the instructions given by the invigilators. In case of a breach of this rule, CPA reserves the right to provide a mark of zero for the exam as well as the right to exercise further discipline as warranted. At the completion of the examination, or when stop time is announced, all students must stop writing immediately. Additional time for the purpose of filling in answer sheets or the exam booklet cover will NOT be allowed. In consideration of others, if you wish to bring food into the exam room, avoid anything with wrappers. Students may also consider use of ear plugs (but not ear buds) and dressing in layers in case the exam room is cold. CPA has a no-tolerance policy towards cheating and plagiarism. Students who violate the integrity of the examination procedure through dishonest or other unprofessional conduct will be given a mark of zero. Disciplinary measures will be imposed and the student may be asked to withdraw from CPA PREP. Students will not be permitted to view their completed exams. Please see page 17 for more information.

18 Grades will be posted on the program s portal within ten business days of the examination date unless stated otherwise by the CPA PREP Coordinator. Exam Content Examinations may contain multiple choice and short and long answer questions. Exam Accommodations Students with disabilities including learning issues who require evaluation testing accommodations must submit a formal request, in writing, to the CPA PREP Coordinator outlining the nature of the disability and the required accommodation. Detailed supporting documentation from a medical/health professional will be required and additional information may be requested. Request for accommodations due to disability are reviewed on a case-by-case basis. For students with disabilities or those demonstrating learning challenges, accommodations can range from additional writing time to a separate writing location. In order to allow an appropriate time for assessment of all disability requests, students must submit their request for accommodation no later than one month prior to the first program exam. Exam No Shows If a student does not write an exam during its scheduled time without obtaining permission beforehand, they will receive a mark of zero for the exam and will not be allowed to continue attending class, to pass CPA PREP or to proceed to the National Entrance Exam. Those students with have a Fail notation placed on their transcript and will not be refunded any program fees. A student must notify the CPA PREP Coordinator at least two weeks prior to an exam if they are unable to write the exam because of extenuating circumstances. Exam Rewrites Re-writes are scheduled two weeks after the Final Exam. A fee applies. Students should contact the CPA PREP Coordinator to confirm the time of the Final Exam or arrange a time to write the mid-term exam during regular business hours. Distance Education students, may re-write the exam with an approved invigilator. Re-writes must be arranged within ten days of the date that the Exam scores are posted online. A student s exam score will be the higher of the original score and the rewrite score. Exam Remark Only the module midterm and final exam results are subject to a remark. A fee may be applied to remarks and will be determined provincially what the fee will be. Students must appeal within five days of exam marks being released. Contact your local CPA office for further details.

19 Module Repeat Students in CPA PREP have up to a maximum of three attempts to pass each module. A student who fails the first attempt at a module with a mark above 50% can rewrite the final exam. If the student fails the second attempt, the student is required to retake the module in order to have a third and final attempt at the exam unless they have already completed the module twice in which case they may choose a rewrite opportunity only. A student who fails the first attempt with a mark less than 50% must retake the module before a second attempt at the exam is permitted. Should a student fail a third time, the student should consider taking courses from post-secondary institutions. Exam Invigilators An invigilator is a qualified person who is nominated by the student to oversee the student s examination. Invigilators are used when students are not located near an approved exam centre. Students must contact the CPA PREP Coordinator well in advance of the exam to make the necessary arrangements. An additional fee applies. The following requirements may be used to appoint an invigilator: An acceptable examination invigilator must be a registered Canadian CMA, CGA or CA, or an individual holding a current professional designation or role (i.e. doctor, lawyer, professional engineer, professor, examinations coordinator at a local university or college); The invigilator must not be a relative, personal friend, nor a co-worker; nor should there be any other factor present that may influence or appear to have the ability to influence the invigilator s objectivity; The invigilator must not share a common postal address with the student (business or personal); Students must choose an invigilator whom they trust to return their written examination to the provincial office in a prompt and suitable manner. The individual s professional qualifications and ability to act as an invigilator will be checked by the Society. The person must be willing and available to respond to correspondence from the provincial office. Students are responsible for the performance of their invigilators and should appoint invigilators with care. Students must provide the name and address of their invigilator and complete the information regarding his or her professional qualifications. The provincial office reserves the right to refuse the invigilator chosen by the student; in this case the student will need to find another invigilator.

20 III. Other Policies Completion Time Limit CPA PREP Students in CPA PREP have six years to complete the entire CPA PREP program. Membership Dues Students must pay membership dues. If membership lapses, a student will be required to be reassessed and reinstated based on provincial/regional rules in order to continue with the program. Travel Costs Costs associated with travel to any applicable exams or classroom sessions in the CPA PREP are the responsibility of the student. Privacy Policy All applicants and students are subject to the CPA Privacy Policy. Bylaws and Code of Ethics Students admitted to the CPA PREP are subject to the Bylaws and Code of Ethics. Module Cancellations The office reserves the right to cancel courses due to insufficient enrollment. Registering well ahead of the registration deadline may avoid cancellations of programs. In the event that the course will need to be cancelled, all students will be notified and a full refund will be issued.

21 5. CMA Prerequisite Courses (Modules 1-4) Until CPA PREP courses for modules 1-4 are launched in late 2014, equivalent courses offered by CMA will continue to be offered. The following policies relate to these courses only. Introductory Financial Accounting Evaluation is based on: chapter quizzes that are submitted online representing 40% of the final grade, and a comprehensive three hour final exam, written in person. To be successful in the Introductory Financial Accounting course, students must obtain a final overall grade of 60% or higher in the course. Students will be provided with a textbook covering all the required material. The textbook also includes access to the Pearson Education website where students are to complete their chapter quizzes. Lesson notes outlining the objectives of each chapter and the solutions to the problems presented in the text will also be provided. Introductory Management Accounting Evaluation is based on: chapter quizzes that are submitted on-line representing 40% of the final grade, and a comprehensive three hour final exam, written in person. To be successful in the Introductory Management Accounting course, students must obtain a minimum of 50% or higher on the three hour final exam; and obtain a final overall grade of 60% or higher in the course. Students will be provided with a textbook covering all the required material. The textbook also includes access to the Pearson Education website where students are to complete their chapter quizzes. Lesson notes outlining the objectives of each chapter and the solutions to the problems presented in the text will also be provided. Prerequisite: Module 1: Introductory Financial Accounting. Economics Economics is comprised of two components, Microeconomics and Macroeconomics. Students who already have an exemption for one of the two components only need to complete the component for which they do not have an exemption. Microeconomics Evaluation for the course is based on 6 chapter quizzes that are submitted on-line representing 40% of the final grade; and a comprehensive 1.5 hour final exam to be scheduled, representing 60% of the final grade. This exam must be written in person. To be successful in the course, students must obtain a minimum of 50% or higher on the 1.5 hour final; and obtain a final overall grade of 60% or higher in the course. Students will be provided with a textbook covering all the required material. The textbook also includes access to the Pearson website where students are to complete their chapter quizzes. Lesson notes outlining the objectives of each chapter and the solutions to the problems presented in the text will also be provided.

22 Macroeconomics Evaluation for the course is based on 6 chapter quizzes that are submitted on-line representing 40% of the final grade; and a comprehensive 1.5 hour final exam, written in person. To be successful in the course, students must obtain a minimum of 50% or higher on the 1.5 hour final; and obtain a final overall grade of 60% or higher in the course. Students will be provided with a textbook covering all the required material. The textbook also includes access to the Pearson website where students are to complete their chapter quizzes. Lesson notes outlining the objectives of each chapter and the solutions to the problems presented in the text will also be provided. Statistics Evaluation is based on 13 chapter quizzes that are submitted on-line representing 40% of the final grade; and a comprehensive three hour final exam to be scheduled with CMA, representing 60% of the final grade. This exam must be written in person. To be successful in the Statistics course, students must obtain a minimum of 50% or higher on the three hour final exam; and obtain a final overall grade of 60% or higher in the course. Students will be provided with a textbook covering all the required material. The textbook also includes access to the Pearson website where students are to complete their chapter quizzes. Lesson notes outlining the objectives of each chapter and the solutions to the problems presented in the text will also be provided. Scheduling a Final Exam for a Prerequisite Equivalency Course For courses that require in-person exams, students must contact the office to book a time to write the final exam. The exam can be written at the CMA office during regular business hours, or they may arrange to have their own proctor for the final exam. Please note that should the student choose to arrange their own proctor, they must be pre-approved by our office. Students are expected to incur the costs associated with arranging their own proctor. If a student is not successful in passing the course, they are eligible to rewrite a final exam. A rewrite fee will be assessed. If a student is still unsuccessful, they are recommended to complete their outstanding prerequisite(s) through a postsecondary institution. Completion Limit Students are advised that these courses are self-paced courses involving independent study that are appropriate for self-directed learners. The course must be completed within four months of registration. Students registering for multiple courses at one time should note that the four month completion limit starts from the date of approval of application. If a student cannot complete the course within four months of registration, a four month extension may be granted for a fee of $125. Please note that this is a one- time extension and those who are unable to complete the course within this time frame will receive a fail and be withdrawn from the course. Withdrawal Policy Students must notify their local CPA Program Coordinator in writing of their intention to withdraw. No refunds or deferrals will be provided for self-paced courses.

23 6. CPA PREP Module Materials All module materials will be provided through the Desire2Learn.ca website. Calculators Students must purchase an approved calculator at the beginning of the program. Approved calculators are: the Texas Instruments BA II Plus and the Texas Instruments BA II Plus Professional. Student Notes These will be similar to chapters in a text book. Students will get an overview of the topic being covered for the week. They will be downloadable and students can print any materials as they choose. Videos These will be provided via the Desire2Learn website and cover the module materials. These will be available in support of learning the weekly concepts. Module Project For modules longer than 4 weeks, a small project will be included in the required module course work. Information will be included in the module outline at the start of the class. The project will test students on how well they are able to apply and integrate the knowledge they have acquired throughout certain PREP modules. Projects must be submitted via Desire2Learn by the start time of the session. Late projects will not be accepted: students who do not submit their projects by the stated deadline will receive a score of zero. Practice Questions These will be extra reinforcement questions at the end o7f each set of student notes. The answers are provided for all questions. Quizzes There will be quizzes as part of the module materials. Quiz review webinars will be made available after the quiz submission deadline. For the 4 week modules, quizzes will be every week. For longer modules, quizzes will be every second week. Quizzes will contribute to the overall module mark. Submission of quizzes on time is mandatory to continue in the program. Sample Exams There will be sample midterm and final exams provided prior to an exam that will include answers to the sample questions. Students should not assume the actual exam will test the exact same topics as the sample exams.

24 Primer There will be a primer for each module. The primer provides an overview of concepts and terminologies related to each module. For example, students who register for PREP are expected to have taken an Introductory Financial Accounting and an Introductory Management Accounting course. Some students may have taken the Introductory Financial Accounting course a long time ago. The purpose of the primer is to make the start of each module run more smoothly for students. By working through the primer, students will find that they will be much better prepared for the module than they otherwise would be. It is recommended that students go through this primer to improve their chances of success in the program. Web Portal (Desire2Learn) An important component of PREP is the Web Portal. All students will be registered as Desire2Learn users before the start of the program, and will receive an with their login name and password. Students will use the portal to access notes, videos and other program materials. Program updates and announcements may be posted on the portal. The portal also contains a discussion board, where students may communicate with each other to further their understanding of the module topics. Students are encouraged to check Desire2Learn frequently to make use of the online resources. Desire2Learn is available only to students for the duration of the program. Any student who withdraws from the program will have their access to Desire2Learn removed. The Desire2Learn Binder application is available through the Apple itunes store and can be used by students on ipads to access Desire2Learn content. CPA members are expected to uphold high standards of professional conduct at all times. Students should bear this in mind when using electronic communication such as or the Desire2Learn discussion board. If there is any doubt as to the appropriate use of these mediums, the PREP Coordinator may be contacted. Webinars The weekly webinar is a tutorial that is designed to answer student questions and review program material where students require additional assistance. The webinar is not a substitute for the video lectures, and students must complete the videos and weekly lesson plans prior to these sessions.

25 7. CPA PREP Technology: Learning Websites and Technical Requirements To get the most from CPA PREP, it is recommended that your computer meets the following specifications: Operating System Browser Version Windows Internet Explorer 9, 10 Firefox 17, Newest Chrome Newest Required Software Microsoft PowerPoint Microsoft Word Microsoft Excel JavaScript Cookies Adobe Flash Acrobat Reader JavaScript is enabled Cookies are enabled You have Flash player installed **Some modules contain Flash content, this material is not accessible on an ios (Apple) device. The Adobe Reader plug-in must be installed Required Hardware 1 Gb of Ram minimum 100 Mb of free hard drive space (required to run application) A free USB port Microsoft Windows Operating System Vista, Windows 7 or Windows 8 For CPA PREP only, a Mac computer could be used providing the student has MS applications loaded. Note that no technical problems with Desire2Learn can be supported. This will not work for the CPA Professional Education Program as the program content and exam requirements necessitate a PC based machine. General Requirements Sound Internet Speed Sound card with speakers or headphones. Many courses contain audio which require headphones or speakers. Internet access required. High speed strongly recommended.

26 8. Course Schedule Module Registration and Start and end dates Notes payment deadline Module 1: Introductory Financial Accounting Open registration Self paced format These area self-study Module 2: Introductory Management Accounting Open registration Self paced format courses currently offered Module 3: Economics Open registration Self paced format by CMA. The CPA Module 4: Statistics Open registration Self paced format courses will be available in late Module 5: Intermediate and Advanced Financial July Aug Nov Accounting Jan Jan May Module 6: Finance Nov Nov Jan May May June Module 7: Audit and Assurance June Jun Aug Jan Jan Mar Module 8: Tax (Canadian) Dec Jan Feb Module 9: Intermediate and Advanced Management Accounting Feb Mar Apr Sep Sep Nov Apr Apr Jul Module 10: Strategy and Governance June 27, 2014 July 7, Aug 9, 2014 Feb Feb Mar Module 11: Business Law June Self paced format with Exam Date: July 20 or scheduled exam date August 24. Oct Exam Date: Dec. 14 Module 12: Information Technology June Self paced format Exam Date: July 20 or August 24. Oct Exam Date: Dec. 14

27 9. CPA PREP Detailed Schedule Week Of Activity Registration & Payment Deadline Start Date Module 7 - Audit 6-Jun Jun-14 Jun Week 1 15-Jun-14 Jun BREAK 22-Jun-14 Jun 29 Jul 5 Week 2 29-Jun-14 Jul 6-12 Week 3 6-Jul-14 Jul Week 4 13-Jul-14 Jul Week 5 20-Jul-14 Jul 27 Aug 2 BREAK 27-Jul-14 Aug 3 9 Week 6 3-Aug-14 Aug EXAM 16-Aug-14 Module 5 - Financial Accounting 25-Jul-2014 Aug 4-9 Week 1 Aug Week 2 Aug Week 3 Aug BREAK Sep 1-6 Week 4 Sep 8-13 Week 5 Sep Week 6 Sep Week 7 Sep 29 Oct 4 Week 8 Oct 6 11 BREAK Oct FA EXAM 1 Oct Week 9 Oct 27 Nov 1 Week 10 Nov 3 8 Week 11 Nov Week 12 Nov FA EXAM 2

28 Week Of Activity Registration & Payment Deadline Start Date Module 9 - Management Accounting 5-Sept Sep-14 Sep Week 1 14-Sep-14 Sep Week 2 21-Sep-14 Sep 28 Oct 4 Week 3 28-Sep-14 Oct 5 11 BREAK 5-Oct-14 Oct Week 4 12-Oct-14 Oct MID-TERM EXAM 25-Oct-14 Oct 26 Nov 1 Week 5 26-Oct-14 Nov 2 8 Week 6 2-Nov-14 Nov 9-15 Week 7 9-Nov-14 Nov Week 8 16-Nov-14 Nov EXAM 29-Nov-14 Module 8 Tax - Canadian 19-Dec-14 4-Jan-15 Jan 4-10 Week 1 4-Jan-15 Jan Week 2 11-Jan-15 Jan Week 3 18-Jan-15 Jan Week 4 25-Jan-15 Feb 1 7 EXAM 7-Jan-15 Module 10 - Strategy & Governance 6-Feb Feb-15 Feb Week 1 15-Feb-15 Feb Week 2 22-Feb-15 Mar 1-7 Week 3 1-Mar-15 Mar 8-14 Week 4 8-Mar-15 Mar STRAT EXAM 21-Mar-15 These are self-study courses. Students must register by May 30, Module 11 Business Law 30-Jun-14 9-Jun-14 Examination 1 st offering 20-Jul-14 Examination 2 nd offering 24-Aug-14 Module 12 Information Technology 30-Jun-14 9-Jun-14 Examination 1 st offering 20-Jul-14 Examination 2 nd offering 24-Aug-14

29 10. Fee Schedule for 2014 the Caribbean Module Fee * (USD$) Module 1: Introductory Financial Accounting $400 Module 2: Introductory Management Accounting $400 Module 3: Economics $400 Module 4: Statistics $400 Module 5: Intermediate/Advanced Financial Accounting $650 Module 6: Finance $350 Module 7: Audit and Assurance $450 Module 8: Tax - Canadian $350 Module 9: Intermediate/Advanced Management Accounting $550 Module 10: Strategy and Governance $350 Module 11: Business Law - Canadian $150 Module 12: Information Technology $150 Related Fees Fee * (USD$) Registration Fee (one-time fee; covers software licenses, etc.) $200 Student membership fee $100 per year** Test re-write fee $200 per test Test centre fee (for students requesting invigilation outside of regular locations) $200 per test Refund fee (refunds are available prior to the module start date only please see Refund policy) 10% of the module fee Exam Challenge fee (Modules 5-10) $200 Per test Exam Challenge fee (Modules 11-12) $100 Per test Module Deferral Fee 25% of module fee ** In order to register for CPA PREP courses, students must maintain student membership in the society. Student membership fees are assessed annually, and cover the period from July 1 to June 30. A student s first CPA PREP course is usually used to calculate the date of initial membership. If the first day of class begins between July 1 and Dec 31, the full annual fee is assessed. However, if the first day of class is between Jan 1 and Jun 30, the fee is only 50 per cent of the annual rate. For CPA PREP courses that are self-paced (i.e. module 1 to 4, 11 and 12) the date of registration is used. Please note that students are subsequently assessed 100 per cent of the student fee each July 1 so as to maintain their student membership standing.