CPA Professional Education Program: Capstone modules (2024)

Learn about the capstone modules of the CPA Professional Education Program (CPA PEP).

To fulfill the requirements of the CPA PEP, you must complete six modules—two core modules, two elective modules and two capstone modules. The capstone modules are culminating courses in which you demonstrate what you have learned over the course of the CPA PEP. Both modules are common to all CPA PEP candidates and are taken after successful completion of the core and elective modules.

CANDIDATE GUIDE

The Candidate Guide offers valuable information about the program, including an overview of the modules, candidate responsibilities, policies and computer requirements.

Evaluation

The capstone integrative module (Capstone 1) combines individual and group work, supported by written assignments and oral presentations. The use of teamwork enables candidates who chose different electives to experience working together to achieve a complete analysis. The written and oral components further develop the technical and enabling competencies gained in the preceding modules.

The capstone examination preparatory module (Capstone 2) has no module-specific examination since it immediately precedes the national Common Final Examination (CFE).

Capstone 1 cases

The May 2024 Capstone 1 module will use the Amuzu Parks Inc. case (available in mid-July). A sample report, including appendices, will be available in late July.

The Neptune Point Fisheries Inc. casewas used in the January 2024 offering of the Capstone 1 module. A sample report, including appendices, will be available in late April.

The J.R. Pets Inc. case was used in the May 2023 offering of the Capstone 1 module. A sample report, including appendices, is also available.

The Kingsdale Tea Inc. casewas used in the January 2023 offering of the Capstone 1 module. A sample report, including appendices, is also available.

Note: The sample report is not a solution and represents a single team's work. Case names for the 2025 offerings of Capstone 1 will be made available in late October 2024.

2024 CFE cases

The following Day 1 cases will be offered* for the May 2024 CFE:

  • Neptune Point Fisheries Inc. (version 1) – introduced in the January 2024 Capstone 1 module
  • Kingsdale Tea Inc. (version 2) – introduced in the January 2023 Capstone 1 module

The following Day 1 cases will be offered* for the September 2024 CFE:

  • Amuzu Parks Inc. (version 1) – introduced in the May 2024 Capstone 1 module
  • J.R. Pets Inc. (version 2) – introduced in the May 2023 Capstone 1 module

*First-time writers must choose the case that was linked to the Capstone 1 module they completed, provided that case is available. Candidates who were previously unsuccessful on the CFE and candidates who are challenging the CFE, such as international candidates, can choose from either of the available cases offered for that sitting.

The graphic below shows the current Capstone 1 cases and when each version of that case will be offered on that CFE.

CPA Professional Education Program: Capstone modules (1)

Capstone 2 cases

Additional practice cases are available for candidates enrolled in Capstone 2. For examples of CFE cases, please refer to the CFE Board of Examiners’ reports.

For the complete list of cases, refer to the Capstone 2 cases list.

Dates for national capstone module offerings

The CPA PEP and CFE calendar provides the key dates for all CPA PEP modules as well as the Common Final Examination (CFE). Please contact your provincial/regional CPA bodyto see if these offerings are available in your area.

The Capstone 2 Module Calendar includes dates for mock examinations, practice cases and practice case feedback:

CPA Professional Education Program: Capstone modules (2024)

FAQs

How long is CPA Capstone 1? ›

If you're preparing for Capstone 1, you've successfully completed all your module exams and are one step closer to writing and completing the CFE. This article will help prepare you for what to expect as you enter the 8-week course that is Capstone 1.

What is CPA capstone? ›

The capstone integrative module (Capstone 1) combines individual and group work, supported by written assignments and oral presentations. The use of teamwork enables candidates who chose different electives to experience working together to achieve a complete analysis.

Is a CPA harder than a bar? ›

Yes, the CPA Exam is harder than the Bar Exam.

Both the CPA Exam and the Bar exam are notoriously difficult exams that require months of rigorous study and cover very different material. However, if you look at just the exam pass rate for first-time takers, then the CPA exam is harder, with only a 14 - 20% pass rate.

How hard is the CPA Exam? ›

Very. The overall CPA Exam pass rates hover slightly below 50%. This makes passing the CPA Exam a difficult, but achievable, goal. You'll need to study wisely, set a strategy for managing your time, and call on your support network, but with the right plan and good study materials, you will conquer it.

Can you do capstone 1 and 2 at the same time? ›

It is highly recommended that students take the Capstone 1 and 2 modules immediately leading up to the CFE. For instance, if you are planning to write the September CFE, it is recommended that you take Capstone 1 starting in May and Capstone 2 starting in July. Review important CFE dates here.

Can you do capstone 1 and 2 together? ›

For Capstone 1, students will write 2 practice cases, attend a live online session and receive a handout, all necessary to be prepared for Day 1 of the CFE. Therefore, PASS recommends that students do NOT attend the CPA Canada Capstone 1 and 2 courses.

Are capstone projects worth it? ›

Taking on a big, longer-term academic or professional project can be very challenging. So when you complete a capstone project, it can provide a confidence boost by demonstrating to yourself and your peers, professors and future employers what you're capable of accomplishing in your field of study.

What happens during capstone? ›

A capstone project aims to demonstrate a student's mastery of a particular subject or field of study. It is typically a culminating project that integrates and applies the knowledge and skills acquired throughout the course of a degree program.

What is a capstone assessment? ›

A capstone assessment tests a student's central knowledge and skills. This ensures they are in line with the intended outcomes of a study program.

Which is harder MBA or CPA? ›

An MBA can be harder depending on the program, but usually entails completing coursework in areas such as marketing, management, and financial analysis. Moreover, it takes approximately 1,000 hours to become a CPA, while an MBA usually takes two years to complete.

How many people pass all 4 CPA exams on the first try? ›

The overall pass rate for each section of the CPA exam hovers around 50%, but how many people manage to pass all four sections on the first try? About 20%. Around 1 in 2 people will pass a specific section of the exam, and about 1 in 5 people will pass each section on their first try.

Which is the hardest subject in CPA? ›

The FAR section of the CPA exam is hard because it's the most comprehensive of the 4 exam sections, and it has a lot of math questions that are mentally taxing to get through. It has the lowest pass rate of all 4 exam sections and is considered the hardest CPA exam section.

Can I pass the CPA in 6 months? ›

Students, recent graduates, and people with plenty of time to study should aim to sit for and pass 4 sections of the CPA Exam in about 6 months. This would have you taking an exam every 6-7 weeks and studying about 22-26 hours each week.

Which state has the hardest CPA Exam? ›

The Uniform Certified Public Accountant (CPA) Exam is the same in every state of the United States, as it is a national exam administered by the American Institute of Certified Public Accountants (AICPA). Therefore, the content and difficulty level of the exam are the same in all states.

How long is capstone 1 presentation? ›

Capstone 1 has no written exams. To pass it, you have to successfully complete a written report and a 30-minute oral presentation, both in a team setting.

How long is the average capstone? ›

However, most capstone projects are generally around 20-50 pages long when written as a research paper. For the undergraduate level, a capstone project is usually around 20-30 pages long, while graduate-level capstone projects tend to be longer, around 30-50 pages.

How long does it take to complete capstone? ›

Capstone projects can take anywhere from a few weeks to several months to complete. Therefore, project planning and time management are required to ensure that you are able to complete the project within the given timeframe.

Can you finish CPA in 3 months? ›

Tips to pass in three months

With Surgent CPA Review, passing the entire CPA Exam in three months is achievable. While many CPA Review courses tout adaptive learning, they encourage learners to go through each course section, regardless of the learner's background knowledge.

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