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.

If you are a person who desire to move ahead in the career with informed choice, then the FAR test material is quite beneficial for you. Our FAR pdf is designed to boost your personal ability in your industry. To enhance your career path with your certification, you need to use the valid and latest FAR exam guide to assist you for success. Our FAR practice torrent offers you the realistic and accurate simulations of the real test. The questions & answers are so valid and updated with detail explanations which make you easy to understand and master. The aim of our FAR practice torrent is to help you successfully pass.

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

Follow the steps mentioned below to book the Financial Accounting and Reporting FAR exam test:

• Step 1: Determine your eligibility from the NASBA website by clicking here
• Step 2: Select a jurisdiction where you want to become a licensed CPA
• Step 3: Access the application by clicking here
• Step 4: Complete the application and submit all required documents
• Step 5: Schedule your exam by following this link

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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:

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

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

Objectives covered by this section:

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

Area 3 - Select Transactions (20-30%)

Objectives covered by this section:

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

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

Objectives covered by this section:

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

AICPA FAR Exam Syllabus Topics: