Try and practice the latest AICPA : FAR real questions & answers

Three kinds of version to content your needs

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Topics of Financial Accounting and Reporting (FAR) Exam

The syllabus for the Financial Accounting and Reporting (FAR) part of the Certified Public Accountant (CPA) Exam can be found in the FAR exam dumps and is also listed below with detail of each area of concern and their topics:

Area 1 - Conceptual Framework, Standard-Setting and Financial Reporting (25-35%)

Objectives covered by this section:

• Consolidated financial statements (including wholly-owned subsidiaries and noncontrolling interests)
• Financial statements of employee benefit plans
• General-purpose financial statements: for-profit business entities
• Statement of comprehensive income
• Special purpose frameworks
• Conceptual framework and standard-setting for business and non-business entities
• Going concerned
• Statement of cash flows
• Discontinued operations
• General-purpose financial statements: nongovernmental, not-for-profit entities
• Notes to financial statements
• Statement of changes in equity
• Statement of financial position
• Statement of activities
• Public company reporting topics (U.S. SEC reporting requirements, earnings per share, and segment reporting)
• Balance sheet/ statement of financial position
• Income statement/ statement of profit or loss

Area 2 - Select Financial Statement Accounts (30-40%)

Objectives covered by this section:

• Income taxes
• Property, plant, and equipment
• Equity method investments
• Revenue recognition
• Financial assets at amortized cost
• Trade receivables
• Payables and accrued liabilities
• Financial assets at fair value
• Cash and cash equivalents
• Equity
• Long-term debt (financial liabilities)
• Debt covenant compliance
• Notes and bonds payable
• Stock compensation (share-based payments)
• Inventory
• Investments
• Intangible assets - goodwill and other
• Compensated absences
• Retirement benefits

Area 3 - Select Transactions (20-30%)

Objectives covered by this section:

• Derivatives and hedge accounting (e.g. swaps, options, forwards)
• Subsequent events
• Research and development costs
• Software costs
• Differences between IFRS and U.S. GAAP
• Foreign currency transactions and translation
• Business combinations
• Contingencies and commitments
• Nonreciprocal transfers
• Leases
• Accounting changes and error corrections
• Fair value measurements

Area IV - State and Local Governments (5-15%)

Objectives covered by this section:

• Proprietary funds financial statement
• Expenditures and expenses
• Fiduciary funds financial statements
• Net position and components thereof
• Budgetary comparison reporting
• Government-wide financial statements
• Management's discussion and analysis
• Fund balances and components thereof
• Financial reporting entity, including blended and discrete component units
• Governmental funds financial statements
• Budgetary accounting and encumbrances
• Capital assets and infrastructure assets
• Nonexchange revenue transactions
• General and proprietary long-term liabilities
• State and local government concepts
• Other financing sources and uses
• Interfund activity, including transfers
• Special items
• Typical items and specific types of transactions and events: measurement, valuation, calculation, and presentation in governmental entity financial statements
• Notes to financial statements
• Deriving government-wide financial statements and reconciliation requirements
• Format and content of the financial section of the comprehensive annual financial report (CAFR)
• Required supplementary information (RSI) other than management's discussion and analysis

For more info read reference:

Study Guide

Exam Contents

Exam process

FAQs and Guidess

Financial Accounting and Reporting (FAR) Exam Certification Path

Generally, the more familiar you are with the FAR content, the less time you need to study, and the faster you can pass. So, how long will you need to study for FAR? Well, the best you can get is the FAR exam dumps that help you figure out what side of the study time spectrum you're probably on via a deeper investigation into FAR's content. You'll find the content areas, groups, and topics of FAR in the FAR CPA Exam blueprints.

Want to pass FAR fast? Then you'll need to study for 20 hours a week so you can finish your review in 6-8 weeks.

Can't fit that much study time into your routine? Then try studying for 15 hours a week. Doing so will prepare you in 8-11 weeks.

finally, if you can only study for 10 hours a week, you'll be ready for FAR in 12-16 weeks.

So, you can use any one of these study schedules or do anything in between. That's because of how fast you finish your FAR review depends on how much time you have to study in a week. But what's important is that you study consistently so you can stay in study mode and stick to your exam schedule.

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AICPA FAR Exam Syllabus Topics: