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Confidence comes from rehearsal, not hope. Focused practice with ExamPrepAway's FAR materials — current content, expert-verified answers — builds the calm familiarity you will want when the AICPA CPA Financial Accounting and Reporting exam begins.
AICPA FAR Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: State and Local Governments | 5–15% | - Governmental financial statements and reporting models - Fund accounting and modified accrual basis - GASB standards and disclosure requirements |
| Topic 2: 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 |
| Topic 3: Select Transactions | 20–30% | - Leases, business combinations and consolidations - Foreign currency, accounting changes and errors - Derivatives, hedging and fair value measurements - Contingencies, R&D and subsequent events |
| Topic 4: Select Financial Statement Accounts | 30–40% | - Cash, receivables, inventory, investments - Property, plant and equipment, intangibles - Compensation, benefits and income taxes - Payables, debt, equity, revenue recognition |
What Working Candidates Ask About FAR Prep
AICPA specifies the following prerequisites for the AICPA CPA Financial Accounting and Reporting: Bachelor's degree + 120–150 credit hours (jurisdiction-dependent), 24–30 hours in accounting/business courses; no prior exam required.
Confirm the authoritative details on the official certification page before you register.
As of the latest information, the passing score for the FAR exam is 75 (scaled 0-99) and the fee is ~$359 USD per section (varies by jurisdiction). AICPA sets both, so verify the current figures on the official site before scheduling.
Written and dependable. If you fail the corresponding exam within 60 days of purchase, send us a scanned copy of your enrollment slip and your official Score Report PDF within two days of the exam date; verified claims are refunded in full within seven days. Exclusions: exams taken within three days of purchase, candidate names that differ from the payer, and free or expired products. Prefer to keep preparing? Exchange your product for two others of equal value at no charge.
The AICPA CPA Financial Accounting and Reporting blueprint centers on these principal domains:
- Conceptual Framework, Standard-Setting and Financial Reporting (25–35%)
- Select Financial Statement Accounts (30–40%)
- State and Local Governments (5–15%)
Further domains complete the official outline, and our question bank spans every one.
By understanding the constraint first: most of our candidates are office workers, so the FAR bank is elaborately designed for efficiency — focused content with expert-verified answers across the AICPA CPA Financial Accounting and Reporting objectives, no filler. Safety is engineered in too: payment runs through Credit Card, the world's reliable payment platform, safeguarding the transaction and protecting your interests, so you can buy without misgivings. And because an electronic product cannot be touched before purchase, a free trial download of real bank content lets you see it first — with 24/7 customer service agents ready for any contingency afterward.
AICPA recommends these official training options:
Choose the course that matches your experience, then reinforce it with focused question practice.
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According to the latest exam information, the FAR exam includes 50 MCQs + 7 TBSs questions and lasts 240 minutes minutes. Practicing under the same limit builds the pacing confidence you will want on the day.
Registration goes through the official channels below:
Book your test center or online session early, and let a fixed date organize your preparation.
AICPA CPA Financial Accounting and Reporting Sample Questions:
According to the FASB conceptual framework, the objectives of financial reporting for business
enterprises are based on:
- A. The needs of the users of the information.
- B. Reporting on management's stewardship.
- C. Generally accepted accounting principles.
- D. The need for conservatism.
Correct Answer: A 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
Hyde Corp. has three manufacturing divisions, each of which has been determined to be a reportable
segment. In 1989, Clay division had sales of $3,000,000, which was 25% of Hyde's total sales, and had
operating costs of $1,900,000, as reported to the CFO. In 1989, Hyde incurred operating costs of
$ 500,000 that were not directly traceable to any of the divisions. In addition, Hyde incurred corporate
interest expense of $300,000 in 1989. In reporting segment information, what amount should be shown as
Clay's operating profit for 1989?
- A. $975,000
- B. $875,000
- C. $1,100,000
- D. $900,000
Correct Answer: C 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
Rock Co.'s financial statements had the following balances at December 31:
What amount should Rock report as comprehensive income for the year ended December 31?
- A. $400,000
- B. $570,000
- C. $520,000
- D. $420,000
Correct Answer: C 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
Coffey Corp.'s trial balance of Income Statement Accounts for the year ended December 31, 1988 as
follows: Coffey's income tax rate is 30%. The gain on debt extinguishment is considered a usual and
recurring part of Coffey's operations. Coffey prepares a multiple-step income statement for 1988.
Income from operations before income tax is:
- A. $240,000
- B. $190,000
- C. $200,000
- D. $230,000
Correct Answer: A 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
Mellow Co. depreciated a $12,000 asset over five years, using the straight-line method with no salvage
value. At the beginning of the fifth year, it was determined that the asset will last another four years. What
amount should Mellow report as depreciation expense for year 5?
- A. $900
- B. $600
- C. $1,500
- D. $2,400
Correct Answer: B 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
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