FAR Exam Dumps
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| Certification Provider: | AICPA |
|---|---|
| Exam Code / Number: | FAR |
| Exam Name: | CPA Financial Accounting and Reporting |
| Exam Questions: | 165 |
| Last Updated: | Jun 18, 2026 |
| Corresponding Certification: | AICPA Certification |
(341 Up Votes)Who should take the Financial Accounting and Reporting (FAR) Exam
Candidates must see the FAR exam dumps pdf to see if they are interested in the contents. People who wish to become Financial Accounting and Reporting experts and explore the dynamic culture of this field to jump-start their certification and lifelong learning goals should take this exam. Many businesses prefer that their accountants are Financial Accounting and Reporting (FAR) certified. Applicants winning their FAR title will find themselves more hirable and will be better paid. To become eligible for the exam, a candidate must have completed a 120 program approved by NYSED. Also, they must have completed their bachelor's degree with accounting as their major.
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 cash flows
- Conceptual framework and standard-setting for business and non-business entities
- Consolidated financial statements (including wholly-owned subsidiaries and noncontrolling interests)
- General-purpose financial statements: nongovernmental, not-for-profit entities
- Going concerned
- Discontinued operations
- Public company reporting topics (U.S. SEC reporting requirements, earnings per share, and segment reporting)
- Statement of comprehensive income
- Balance sheet/ statement of financial position
- Income statement/ statement of profit or loss
- Financial statements of employee benefit plans
- General-purpose financial statements: for-profit business entities
- Statement of changes in equity
- Statement of financial position
- Notes to financial statements
- Special purpose frameworks
Area 2 - Select Financial Statement Accounts (30-40%)
Objectives covered by this section:
- Payables and accrued liabilities
- Long-term debt (financial liabilities)
- Trade receivables
- Compensated absences
- Debt covenant compliance
- Financial assets at amortized cost
- Inventory
- Notes and bonds payable
- Equity method investments
- Financial assets at fair value
- Equity
- Cash and cash equivalents
- Retirement benefits
- Investments
- Stock compensation (share-based payments)
- Intangible assets - goodwill and other
- Property, plant, and equipment
- Revenue recognition
- Income taxes
Area 3 - Select Transactions (20-30%)
Objectives covered by this section:
- Leases
- Fair value measurements
- Contingencies and commitments
- Research and development costs
- Foreign currency transactions and translation
- Business combinations
- Software costs
- Subsequent events
- Differences between IFRS and U.S. GAAP
- Accounting changes and error corrections
- Derivatives and hedge accounting (e.g. swaps, options, forwards)
- Nonreciprocal transfers
Area IV - State and Local Governments (5-15%)
Objectives covered by this section:
- Fiduciary funds financial statements
- Interfund activity, including transfers
- Capital assets and infrastructure assets
- Budgetary comparison reporting
- General and proprietary long-term liabilities
- State and local government concepts
- Deriving government-wide financial statements and reconciliation requirements
- Net position and components thereof
- Format and content of the financial section of the comprehensive annual financial report (CAFR)
- Expenditures and expenses
- Special items
- Other financing sources and uses
- Budgetary accounting and encumbrances
- Government-wide financial statements
- Proprietary funds financial statement
- Nonexchange revenue transactions
- Financial reporting entity, including blended and discrete component units
- Governmental funds financial statements
- Typical items and specific types of transactions and events: measurement, valuation, calculation, and presentation in governmental entity financial statements
- Required supplementary information (RSI) other than management's discussion and analysis
- Fund balances and components thereof
- Notes to financial statements
- Management's discussion and analysis
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 FreeCram 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.
AICPA FAR Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Select Transactions | 20–30% | - Contingencies, R&D and subsequent events - Leases, business combinations and consolidations - Derivatives, hedging and fair value measurements - Foreign currency, accounting changes and errors |
| Conceptual Framework, Standard-Setting and Financial Reporting | 25–35% | - Employee benefit plan financial statements - Conceptual framework and standard-setting process - Not-for-profit and public company reporting - General-purpose financial statements for for-profit entities |
| Select Financial Statement Accounts | 30–40% | - Payables, debt, equity, revenue recognition - Property, plant and equipment, intangibles - Cash, receivables, inventory, investments - Compensation, benefits and income taxes |
| State and Local Governments | 5–15% | - GASB standards and disclosure requirements - Fund accounting and modified accrual basis - Governmental financial statements and reporting models |