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 26: Complex Illustrations, Case Studies, and Practice Scenarios
In this section
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Consolidated Financial Statements (Advanced Topics, Eliminations)
Explore advanced consolidation issues including variable interest entities, partial ownership changes, and intercompany transaction eliminations, with practical examples, diagrams, and best practices for the CPA FAR Exam.
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Business Combinations (Purchase Accounting, Goodwill, Noncontrolling Interests)
Explore the acquisition method’s comprehensive steps, goodwill measurement, and noncontrolling interest accounting under US GAAP and IFRS, featuring practical examples and diagrams for deeper clarity.
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Foreign Currency Transactions, Translation, and Remeasurement (Overview)
Master foreign currency transactions, from initial recognition to financial statement translation and remeasurement. Explore how functional and reporting currencies differ, learn best practices, and understand the impact on OCI.
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Additional Advanced Topics: Pushdown Accounting Revisited, Quasi Reorganizations
Explore in-depth guidance on pushdown accounting after control changes and understand quasi reorganizations, including rare steps, best practices, and illustrative examples.
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Comprehensive Exercises Integrating Multiple FAR Topics
Explore final capstone scenarios that seamlessly integrate revenue recognition, inventory valuation, property, plant, and equipment transactions, intangible assets, and other advanced FAR concepts into cohesive practice exercises.
