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:

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

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

Objectives covered by this section:

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

Area 3 - Select Transactions (20-30%)

Objectives covered by this section:

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

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

Objectives covered by this section:

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

If you are already determined to obtain an international certificate, you must immediately purchase our FAR exam practice. Our products have been certified as the highest quality products in the industry. If you know FAR training materials through acquaintance introduction, then you must also know the advantages of FAR. Our content and design have laid a good reputation for us. Our users are willing to volunteer for us. You can imagine this is a great product! Next, I will introduce you to the most representative advantages of FAR real exam. You can think about whether these advantages are what you need!

Premium content

Our company has hired the best team of experts to create the best products for you. Our team has the most up-to-date information. After analyzing the research, we write the most complete and up-to-date FAR exam practice. At the same time, the experts also spent a lot of effort to study the needs of consumers, and committed to creating the best scientific model for users. With the protection of content and learning methods, you will not have to worry about your exam at all. Of course, if you have any suggestions for our FAR training materials, you can give us feedback. Our team of experts will certainly consider your suggestions. Perhaps the next version upgrade of FAR real exam is due to your opinion. In order to thank you for your support, we will also provide you with some benefits.

How to study the Financial Accounting and Reporting (FAR) Exam

There are several ways to prepare for the Financial Accounting and Reporting (FAR) Exam. AICPA's official website provides tutorials on the exam content and also the sample FAR practice exams. These can be accessed via the “help” button against the sample tests provided on the website. Use the material on the internet to learn all the exam contents in detail and then take the practice sample tests through the AICPA website. To study for the Financial Accounting and Reporting (FAR) Exam, use the exam blueprints and study resources by accessing the links at the bottom of this document. Students are highly encouraged to join AICPA's Certification community where they can join students from all over the world and learn together. FAR exam dumps have ensured a 100% pass rate over the years so students are highly recommended to find these exam dumps on the PrepAway website and then test their knowledge on FAR practice exams. These are the best study materials one can get. For further exam self-study materials, refer to the links down below.

Hover on to AICPA's Website and take a look at study materials provided for the exam. Check for the topics mentioned in the Exam Outline section of this guide to review the online documentation, tip sheets, and user guides and study the details relevant to those topics. Refer to the links at the end of this document for more study material. As always, We recommend a combination of hands-on experience, completion of the training course, and self-study in the areas described in the Exam Outline section of this exam guide as preparation for this exam. After all sorts of study, test your understanding by taking the FAR practice test.

Smooth operation

The operating system of FAR exam practice has won the appreciation of many users around the world. Within five to ten minutes after your payment is successful, our operating system will send a link to FAR training materials to your email address. After our product update, our operating system will also send you a timely message to ensure that you will not miss a single message. After you use FAR real exam，you will not encounter any problems with system . If you really have a problem, please contact us in time and our staff will troubleshoot the issue for you. FAR exam practice's smooth operating system has improved the reputation of our products. We also received a lot of praise in the international community. I believe this will also be one of the reasons why you choose our products.

What is the duration, language, and format of the Financial Accounting and Reporting (FAR) Exam

• Passing score: 75
• Duration of Exam: 4 hours
• Format: Multiple choice, Task-based simulations, research prompts
• Language of Exam: English

Perfect service

FAR exam practice is well known for its quality service! Our users are all over the world, and we use uniform service standards everywhere. Our after-sales service staff will be on-line service 24 hours a day, 7 days a week. So, whether you are purchasing FAR training materials, or during the study period, no matter what kind of problems you encounter, you can always contact online customer service to get the timely help. At the same time, our service guidelines have always been customer first. As long as you choose FAR real exam, we will be responsible for you in the end. Every FAR exam practice's staff member is your family they will accompany you to achieve your dream! Our company's service aim is to make every customer satisfied! FAR training materials are looking forward to being able to accompany you on such an important journey.

How much Financial Accounting and Reporting (FAR) Exam Cost

The total cost of the CPA exam is around USD 800 that includes four sections. For this particular Financial Accounting and Reporting (FAR) Exam, the cost is estimated to be USD 200. Hover on to the official website of AICPA and choose your state for more pricing information. Candidates will face other costs like buying the FAR exam dumps pdf and then practicing for the exam via the FAR practice exams.