AICPA FAR Q&A - in .pdf

  • FAR pdf
  • Exam Code: FAR
  • Exam Name: CPA Financial Accounting and Reporting
  • Updated: Aug 13, 2026
  • Q & A: 165 Questions and Answers
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  • Exam Code: FAR
  • Exam Name: CPA Financial Accounting and Reporting
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  • Updated: Aug 13, 2026
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AICPA FAR Q&A - Testing Engine

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  • Exam Code: FAR
  • Exam Name: CPA Financial Accounting and Reporting
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  • Q & A: 165 Questions and Answers
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Introduction to Financial Accounting and Reporting (FAR) Exam

The Standardized CPA Evaluation is the exam portion of the Financial Accounting and Reporting (FAR) which measures the expertise and skills that a newly qualified CPA must demonstrate in the financial accounting and reporting systems used by enterprise (public and non-public), non-profit, and state and local government agencies.

In the FAR portion of the test, the examination contains the requirements and regulations provided by:

  • Governmental Accounting Standards Board (GASB)
  • U.S. Securities and Exchange Commission (U.S. SEC)
  • International Accounting Standards Board (IASB)
  • Financial Accounting Standards Board (FASB)
  • American Institute of Certified Public Accountants (AICPA)

The FAR section consists of questions that emphasize the conceptual structure and financial reporting, the selection of accounts of financial statements, the selection of transactions, and the application of state and local governments to accounting work. These sections can be overviewed from the FAR practice test. References at the end of this introduction provide a list of guidelines and regulations provided by these bodies and other reference materials that are available for evaluation in the FAR portion of the review.

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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

Financial Accounting and Reporting (FAR) Exam Certification Path

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AICPA FAR Exam Syllabus Topics:

SectionWeightObjectives
Select Balance Sheet Accounts30-40%- Investments and financial instruments
- Cash, receivables, inventory, PP&E, and intangible assets
- Liabilities, equity transactions and related accounting requirements
Select Transactions25-35%- Accounting changes and error corrections
- Leases and other significant transactions
- Revenue recognition and transaction accounting
Financial Reporting30-40%- Preparation and presentation of financial statements, disclosures, and ratios
- General purpose financial reporting for for-profit and non-profit entities
- Foundational concepts related to accounting requirements for governmental entities
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