jenndroch, do you mean new changes will be effective 2009 or things will start changing during 2009?

As you all know the proposed CSO comment period ended on July 31^st.   The AICPA will take through the end of 2008 to evaluate the comments and discuss changes to be implemented.  It is safe to say that the actual CSOs will not change for 2009, but some content will be changing…The most notable will be the Business Combinations material.  The old/current information will be tested in January/February, April/May 2009 and the new material (141R) will be tested July/August, September/October 2009.  This will be a complete change over.  Be sure that your material in 2009 covers the correct material for when you are taking the exam.

As many candidates use old material when preparing for the CPA Exam, it will become more evident as time goes on that new, updated material will become necessary to deal with changes.  From the major Auditing changes in July 07, to the Pensions, Business Combinations and eventually the implementation of the revised CSOs, simulation revision and IFRS in years to come.

No matter which provider you select, be sure that you are using their current materials.  At the end of the day, time is valuable, and if you can learn the currently tested information, saving prep time, increasing your chances of success…it is worth it!  Remember, if just 10% of the material in an old book is out of date, and that material is tested on your individual exam, you could be starting with a possible 90 because the content was learned incorrectly.

If you would like to keep on top of changes coming to the CPA exam please sign up for our monthly newsletter.  Simply send an e-mail to (john@yaegerCPAreview.net).  Enter (ADD TO Newsletter) in the subject line.      

Each month we let our candidate base know of any updates or changes that will affect their preparation for the CPA Exam.

As always, we are here to educate and inform.  Good luck on your exams!