What the Certified Public Accountant (CPA) board exam covers, from PRC's syllabi: 6 subjects, 70 to 100 items each, topic weights, and the 2029 TOS.
Mariano Luiz King
Published November 5, 2026 ยท Updated November 9, 2026
The Certified Public Accountant (CPA) board exam, or CPALE, has six subjects: Financial Accounting and Reporting (FAR), Advanced Financial Accounting and Reporting (AFAR), Management Services (MS), Auditing, Taxation, and Regulatory Framework for Business Transactions (RFBT). Five have 70 items each. RFBT has 100. This post shows how PRC splits those items across topics, so you know where the points are.
Where this coverage comes from: Everything here comes from PRC's own documents, not forum posts. The topics and item counts are from the Board of Accountancy's syllabi and Table of Specifications under Resolution No. 30 (s. 2022), effective from the October 2022 exam. The schedule is from PRC's October 2026 program. The passing rule is from RA 9298. I checked all of it in November 2026.
A Table of Specifications (TOS) is the blueprint the Board writes questions from. It sets the topics and how many items each gets.
In June 2026, the Board adopted a revised TOS (Resolution No. 20, s. 2026). It says the revised TOS applies from calendar year 2029 onward. If you're taking the exam in 2027 or 2028, the current TOS below still applies. If you're a student who will take it in 2029 or later, watch for the new annex on PRC's site.
As of the October 24 to 26, 2026 exam:
| Detail | What PRC says |
|---|---|
| Subjects | 6, two per day |
| Items | 70 per subject, except RFBT with 100 (multiple choice) |
| Time per subject | 3 hours (8:00 to 11:00 AM, 1:00 to 4:00 PM) |
| Day 1 | Management Services, Auditing |
| Day 2 | Taxation, RFBT |
| Day 3 | FAR, AFAR |
| Calculators | One non-programmable calculator from PRC's approved list. Basic calculators are also allowed. |
| To pass | 75% general average, with no subject below 65% (RA 9298) |
"Management Advisory Services" was renamed "Management Services" in 2022. Same subject, new name.
| Topic | Items |
|---|---|
| Non-financial Assets | 14 |
| Cash and Other Financial Assets | 10 |
| Shareholders' Equity | 10 |
| Other Topics | 10 |
| Conceptual Framework, Accounting Process and FS Presentation | 9 |
| Other Reporting Frameworks | 5 |
| Development of Financial Reporting Framework and Standard-Setting Bodies | 4 |
| Financial Liabilities | 4 |
| Non-financial Liabilities, Provisions and Contingencies | 4 |
Non-financial assets is the biggest topic. The syllabus puts inventories, PP&E, investment property, intangibles, biological assets, and assets held for sale under it.
| Topic | Items |
|---|---|
| Partnership Accounting | 10 |
| Revenue Recognition (PFRS 15) | 10 |
| Cost Accounting | 10 |
| Business Combination (PFRS 3) | 6 |
| Consolidated Financial Statements (PFRS 10) | 5 |
| Corporate Liquidation | 4 |
| Joint Arrangements (PFRS 11) | 4 |
| Home Office, Branch and Agency | 4 |
| Separate Financial Statements (PAS 27) | 4 |
| Derivatives and Hedging (PFRS 9) | 4 |
| Foreign Currency Translation (PAS 21/29) | 3 |
| Not-for-Profit Organizations | 2 |
| Government Accounting | 2 |
| Other Special Topics (including insurance contracts, PFRS 17) | 2 |
Note that cost accounting sits in AFAR here, not in Management Services. It's 10 items, as many as partnerships.
| Topic | Items |
|---|---|
| Management Accounting | 40 |
| Financial Management | 25 |
| Economic Concepts | 5 |
Per the syllabus, management accounting covers planning and control, performance measurement, and decision-making techniques. Financial management covers planning, control, and decision techniques for finance. The economics part is basic macro and microeconomics.
| Topic | Items |
|---|---|
| Auditing Theory (theory on auditing and attestation services) | 35 |
| Auditing Practice | 35 |
An exact 50/50 split. Theory follows the audit process: fundamentals, client acceptance, internal control, evidence, completing the audit, reports, auditing in a computerized environment, and attestation services. Practice covers ethics and quality management, planning and risk assessment, responding to risks, and audit reporting.
| Topic | Items |
|---|---|
| Income Taxation | 14 |
| Transfer Taxes | 12 |
| Business Taxes | 12 |
| Principles of Taxation | 8 |
| Tax Remedies | 8 |
| Preferential Taxation | 8 |
| Local Government Code Taxation | 4 |
| Excise Tax | 2 |
| Documentary Stamp Tax | 2 |
The syllabus says graduated tax rates, excise tax rates, documentary stamp tax rates, local business tax rates, and real property tax rates are given in the exam when you need to compute. So focus on how the computations work, not on memorizing the rate tables.
| Topic | Items |
|---|---|
| Law on Business Organizations | 44 |
| Law on Other Business Transactions | 25 |
| Law on Business Transactions | 18 |
| Financial Rehabilitation and Insolvency | 5 |
| Bouncing Checks | 2 |
| Consumer Protection | 2 |
| Philippine Competition Act | 2 |
| Government Procurement Law | 2 |
Law on Business Organizations is 44 items. It covers partnerships, corporations, insurance, and cooperatives. That's the single biggest topic in the whole exam.
Every subject's syllabus has the same note. New laws, standards, and other issuances that are effective by the exam date replace the related topic and can be tested, unless the Board says otherwise. So if a tax law or a PFRS changes before your exam, study the new version.
RA 9298 says you need a general average of 75%, with no subject below 65%.
There's also conditional credit. If you fail overall but get 75% or higher in a majority of subjects, you keep credit for the subjects you passed. You then retake only the rest within two years. If you don't reach a 75% average and at least 65% in each retaken subject, you fail the whole exam.
Here's an example. Say you get 80% in FAR, AFAR, MS, and Auditing, but 60% in Taxation and 70% in RFBT. You passed four of six (a majority) with 75% or higher, so you get conditional credit. You'd retake only Taxation and RFBT.
If you don't pass, the retake rules are in what happens if you fail the board exam. Recent results are in board exam passing rates.
Treat RFBT differently. It has 100 items in the same 3 hours as the others, and nearly half of it is business organization law. You need a faster pace there than in any other subject.
For the rest, remember the 65% floor. Under RA 9298, one subject below 65% means you don't pass that sitting, even with a high average. So I'd find your weakest subject early and keep it in your weekly rotation, not just your favorite ones.
Financial Accounting and Reporting, Advanced Financial Accounting and Reporting, Management Services, Auditing, Taxation, and Regulatory Framework for Business Transactions.
450 in total: 70 in each of five subjects and 100 in RFBT, based on the Board's 2022 syllabi.
A general average of 75%, with no subject below 65%, under RA 9298. If you pass a majority of subjects at 75% or higher, you get conditional credit and retake only the rest within two years.
Yes. The syllabus says graduated, excise, documentary stamp, local business, and real property tax rates are provided when you need to compute taxes.
Board Resolution No. 20 (s. 2026) says the revised TOS applies from calendar year 2029 onward.
Ready to test yourself? Try the free CPA board exam reviewer. I built prepPH, so I'm biased, but every question there comes with an explanation. For a study plan, read how to review for the PRC board exam. For fees, see how much the PRC board exam costs. To apply, see how to apply for the PRC board exam online (LERIS). To plan your weeks, see how long to review for the CPA board exam, and to decide on a review center, see can you pass the CPA board exam with self-review? and CPA review center fees.
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