Browse Financial Accounting and Reporting (FAR)
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- 3.1 Comprehensive Review of the Balance Sheet (Statement of Financial Position)
- 3.2 Income Statement: Single-Step vs. Multi-Step Formats
- 3.3 Statement of Comprehensive Income (OCI Components and Presentation)
- 3.4 Statement of Changes in Equity (Share Capital, Retained Earnings, Other Equity Items)
- 3.5 Statement of Cash Flows (Operating, Investing, Financing; Indirect/Direct Methods)
- 3.6 Notes to the Financial Statements (Policies, Related Party Disclosures)
- 3.7 Illustrative Examples and Advanced Issues for For-Profit Entities
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- 4.1 Overview of Not-for-Profit Accounting and Governing Principles
- 4.2 Statement of Financial Position (Net Assets: With/Without Donor Restrictions)
- 4.3 Statement of Activities (Classification of Revenues, Expenses, Support)
- 4.4 Statement of Cash Flows (Direct vs. Indirect Methods)
- 4.5 Functional Expense Reporting (By Nature and Function)
- 4.6 Disclosures and Special Topics in Not-for-Profit Accounting
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- 5.1 Measurement Focus and Basis of Accounting (Current vs. Economic Resources)
- 5.2 Governmental, Proprietary, Fiduciary Funds (Types and Major vs. Nonmajor Funds)
- 5.3 Government-Wide vs. Fund-Level Statements and Required Reconciliations
- 5.4 Budgetary Accounting, Encumbrances, and Appropriations
- 5.5 MD&A Requirements, Required Supplementary Information (RSI)
- 5.6 Illustrative Examples (Basic Transactions and Sample Disclosures)
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- 6.1 SEC Regulatory Environment (Securities Exchange Act of 1934)
- 6.2 Interim Reporting and Required Disclosures
- 6.3 Annual Filings and Form 10-K/10-Q/8-K Requirements
- 6.4 Earnings per Share (Basic and Diluted Calculation)
- 6.5 Segment Reporting (Identifying Reportable Segments, Disclosure Requirements)
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- 26.1 Consolidated Financial Statements (Advanced Topics, Eliminations)
- 26.2 Business Combinations (Purchase Accounting, Goodwill, Noncontrolling Interests)
- 26.3 Foreign Currency Transactions, Translation, and Remeasurement (Overview)
- 26.4 Additional Advanced Topics: Pushdown Accounting Revisited, Quasi Reorganizations
- 26.5 Comprehensive Exercises Integrating Multiple FAR Topics
Chapter 1: CPA Exam Structure and FAR Overview
In this section
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Purpose and Format of the CPA Exam
This comprehensive article provides a thorough overview of the CPA Exam’s purpose and structure, focusing on exam length, question formats (MCQs, TBSs), and the general content areas essential for FAR success. Understand how the exam is arranged, the types of questions asked, and the significance of these elements for efficient study planning and exam performance.
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FAR Section in the Uniform CPA Examination
Explore the scope, structure, and importance of the FAR section—one of the four core parts of the CPA Exam—covering financial accounting and reporting for diverse entities, essential concepts, and strategic approaches.
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Scoring and Question Types (MCQs and Simulations)
Discover how the FAR section of the CPA Exam is scored, including item weightings, question formats, and proven test-taking strategies for MCQs and simulations.
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Study Methodology and Exam Strategies
Discover effective strategies for mastering the FAR exam, combining conceptual understanding with extensive practice, authoritative literature review, and proven time-management techniques.
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Time Management and Recommended Study Plans
Practical insights into scheduling, pacing, and strategic study approaches for the FAR CPA Exam. Master your timetable, integrate practice sessions effectively, and enhance your exam-day performance.
