AICPA FAR : CPA Financial Accounting and Reporting

FAR real exams

Exam Code: FAR

Exam Name: CPA Financial Accounting and Reporting

Updated: Jul 31, 2026

Q & A: 165 Questions and Answers

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About AICPA FAR Exam

How much Financial Accounting and Reporting (FAR) Exam Cost

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AICPA FAR Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Not-for-Profit (NFP) Accounting10–15%- NFP financial statements
- Revenue and contribution recognition
Topic 2: Select Financial Statement Accounts30–40%- Consolidations and business combinations
- Revenue recognition (ASC 606)
- Pensions and post-employment benefits
- Leases (ASC 842)
- Equity, EPS, and share-based payments
Topic 3: State and Local Government Accounting20–25%- Fund accounting and governmental financial statements
- Modified accrual vs full accrual accounting
- Budgetary accounting
Topic 4: Conceptual Framework, Standard-Setting, and Financial Reporting25–35%- Financial statement presentation
- Disclosure requirements
- Conceptual framework and GAAP hierarchy

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