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This set is totally updated for the new computerized CPA exam. Published annually, this comprehensive two-volume paperback reviews all four parts of the CPA exam. Many of the questions are taken directly from previous CPA exams, including new question formats. Volume I contains all study guides and outlines while Volume II contains all problem solutions. With 2,700 multiple choice questions and new simulation-style problems - offering more than 75 practice, these study guides provide all the information candidates need to master in order to pass the new computerized Uniform CPA Examination.It covers all requirements and divides the exam into 45 self-contained modules for flexible study. It includes new AICPA simulation questions. It offers nearly three times as many examples as other CPA exam study guides. Here is what's new in "Wiley CPA Review, 34th Edition, 2007-2008": coverage of new financial accounting standards, especially - Statement of Financial Accounting Standards 155, Accounting for Certain Hybrid Financial Instruments - an amendment of FASB, Statements No.1 33 and 140, Statement of Financial Accounting Standards 157, Fair Value Measurements, Statement of Financial Accounting Standards 159, Fair Value Option for Financial Assets and Financial Liabilities - including an amendment of FASB, Statement No. 115; coverage of new auditing standards, especially: AICPA Statements on Auditing Standards Nos. 104 through 111, referred to collectively as the Risk Assessment Standards; and, Latest Public Company Accounting Oversight Board auditing standards.