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:

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

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

Objectives covered by this section:

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

Area 3 - Select Transactions (20-30%)

Objectives covered by this section:

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

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

Objectives covered by this section:

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

User-friendly services

Before you buying our CPA Financial Accounting and Reporting practice materials, there are many free demos for your experimental use. After getting our CPA Financial Accounting and Reporting prep training, you can pose your questions if you have. We offer considerate aftersales services 24/7. Alongside with a series discounts and benefits if you buy more, you can get more. Moreover, our experts will write the FAR training material according to the trend of syllabus so the new supplements will be extra benefits for your reference. We provide employees with training courses. And we have set up pretty sound system to help customers in all aspects. It means even you fail the exam, things will be compensated because our humanized services.

As the company enjoys great reputation in the market, our CPA Financial Accounting and Reporting practice materials are reliable and trustworthy with impressive achievements like 98-100 percent passing rate up to now, you must be curious why our AICPA practice material are so excellent with much public praise, so we listed many representative characteristics for your reference.

Reputed products

We are reputed company for our profession and high quality FAR practice materials covering all important materials within it for your reference. As representative CPA Financial Accounting and Reporting updated torrent designed especially for exam candidates like you, they are compiled and collected by experts elaborately rather than indiscriminate collection of knowledge. By using our AICPA Certification valid questions, you can yield twice the result with half the effort.

How to Prepare For Financial Accounting and Reporting (FAR) Exam

Preparation Guide for Financial Accounting and Reporting (FAR) Exam

Introduction

The Financial Accounting and Reporting FAR exam test is part of the uniform CPA examination and is administered by the American Institute of Certified Public Accountants (AICPA). The American Institute of Certified Public Accountants (AICPA) is the United States national professional association of Certified Public Accountants (CPAs), with more than 418,000 members in business and industry, public practice, government, education, student affiliates, and foreign associates in 143 countries. Established in 1887, the association sets ethical guidelines for audits of private businesses, non-profit organizations, federal, state, and local governments for the profession and U.S. auditing standards. It also establishes the Standardized CPA Test and rates it. The AICPA has offices in New York City; Durham, NC; Washington DC; and Ewing, NJ.

For practitioners aspiring to become CPAs, the Standardized Certified Public Accountant test is a credentialing exam. It is graded and governed by the American Institute of Certified Public Accountants (AICPA) and by the National Association of State Accountancy Boards (NASBA).

This exam guide is intended to get you to know about the exam details and help you to prepare for the Financial Accounting and Reporting FAR exam test successfully. This guide includes information on the certification test target audience, recommended preparation FAR exam dumps and documentation, and a full list of exam targets, all to help you obtain a passing grade. To increase your chances of passing the test, AICPA strongly recommends a mix of on-the-job experience, course attendance, and self-study.

Bright prospect

The importance of the certificate of the exam is self-evident. They can also help you cultivate to good habit of learning, build good ideology of active learning, activate your personal desire to pass the exam with confidence and fulfill your personal ambition. You can have more opportunities to get respectable job and stand out among the average. So it is our sincere hope that you can have a comfortable experience with the help of our CPA Financial Accounting and Reporting study guide as well as the good services.

Instant Download: Our system will send you the FAR braindumps files you purchase in mailbox in a minute after payment. (If not received within 12 hours, please contact us. Note: don't forget to check your spam.)

Efficient way to succeed

Confronted with many useless practice materials in the market, do not you think that using with them will put you under great pressure and possibility of failure? On contrast, reviving with us can help you gain a lot in an efficient environment and stimulate your enthusiasm to learn better. There are three versions for your reference right now PDF & Software & APP version. Last but not the least, you can spare flexible learning hours to deal with the points of questions successfully.

Best companion

No one will be around you all the time to make sure everything is secured. You choose most of your parts in your life as well as the practice materials for this exam. However, our CPA Financial Accounting and Reporting prep training will away be here waiting for you to choose. We make our FAR study guide with diligent work and high expectations all these years, so your review will be easier with our practice materials. You can consult with our employees on every stage of your preparation, which is convenient for you, so we will serve as your best companion all the way.