Get real FAR exam questions for better preparation
Real AICPA FAR practice exam questions for easy pass!
Updated: Aug 05, 2026
No. of Questions: 165 Questions & Answers with Testing Engine
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How much Financial Accounting and Reporting (FAR) Exam Cost
The total cost of the CPA exam is around USD 800 that includes four sections. For this particular Financial Accounting and Reporting (FAR) Exam, the cost is estimated to be USD 200. Hover on to the official website of AICPA and choose your state for more pricing information. Candidates will face other costs like buying the FAR exam dumps pdf and then practicing for the exam via the FAR practice exams.
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:
- Going concerned
- Balance sheet/ statement of financial position
- Notes to financial statements
- Income statement/ statement of profit or loss
- Public company reporting topics (U.S. SEC reporting requirements, earnings per share, and segment reporting)
- Special purpose frameworks
- Statement of comprehensive income
- Conceptual framework and standard-setting for business and non-business entities
- Statement of financial position
- General-purpose financial statements: for-profit business entities
- Statement of changes in equity
- Statement of activities
- Financial statements of employee benefit plans
- Statement of cash flows
- Discontinued operations
- General-purpose financial statements: nongovernmental, not-for-profit entities
- Consolidated financial statements (including wholly-owned subsidiaries and noncontrolling interests)
Area 2 - Select Financial Statement Accounts (30-40%)
Objectives covered by this section:
- Financial assets at fair value
- Property, plant, and equipment
- Payables and accrued liabilities
- Intangible assets - goodwill and other
- Investments
- Debt covenant compliance
- Inventory
- Compensated absences
- Notes and bonds payable
- Financial assets at amortized cost
- Retirement benefits
- Trade receivables
- Equity
- Income taxes
- Equity method investments
- Stock compensation (share-based payments)
- Long-term debt (financial liabilities)
- Revenue recognition
- Cash and cash equivalents
Area 3 - Select Transactions (20-30%)
Objectives covered by this section:
- Business combinations
- Software costs
- Differences between IFRS and U.S. GAAP
- Leases
- Fair value measurements
- Subsequent events
- Nonreciprocal transfers
- Contingencies and commitments
- Foreign currency transactions and translation
- Research and development costs
- Accounting changes and error corrections
- Derivatives and hedge accounting (e.g. swaps, options, forwards)
Area IV - State and Local Governments (5-15%)
Objectives covered by this section:
- Notes to financial statements
- Required supplementary information (RSI) other than management's discussion and analysis
- Interfund activity, including transfers
- Format and content of the financial section of the comprehensive annual financial report (CAFR)
- Government-wide financial statements
- State and local government concepts
- Special items
- Typical items and specific types of transactions and events: measurement, valuation, calculation, and presentation in governmental entity financial statements
- Capital assets and infrastructure assets
- Financial reporting entity, including blended and discrete component units
- Management's discussion and analysis
- Fund balances and components thereof
- Other financing sources and uses
- Budgetary comparison reporting
- General and proprietary long-term liabilities
- Fiduciary funds financial statements
- Governmental funds financial statements
- Net position and components thereof
- Proprietary funds financial statement
- Deriving government-wide financial statements and reconciliation requirements
- Budgetary accounting and encumbrances
- Expenditures and expenses
- Nonexchange revenue transactions
AICPA FAR Exam Overview:
| Certification Vendor: | American Institute of Certified Public Accountants (AICPA) |
| Exam Name: | Financial Accounting and Reporting |
| Exam Number: | FAR |
| Available Languages: | English |
| Exam Price: | Varies by jurisdiction (national section fee example ~USD 359 before local fees) |
| Passing Score: | 75 (scaled score on a 0–99 scale) |
| Real Exam Qty: | 50 multiple-choice questions (MCQs) + 7 task-based simulations (TBSs) |
| Related Certifications: | CPA Auditing and Attestation (AUD) CPA Taxation and Regulation (REG) CPA Business Analysis and Reporting (BAR) CPA Information Systems and Controls (ISC) CPA Tax Compliance and Planning (TCP) |
| Certificate Validity Period: | Not applicable (CPA Exam section score credits valid 30 months toward full CPA license) |
| Exam Format: | Multiple-Choice Questions (MCQs), Task-Based Simulations (TBSs) |
| Exam Duration: | 240 minutes |
| Sample Questions: | AICPA FAR Sample Questions |
| Exam Way: | Computer-based testing at Prometric testing centers or international testing sites |
| Pre Condition: | Meet applicable state board of accountancy eligibility requirements (education and application process) and receive Authorization to Test (ATT). |
| Official Syllabus URL: | https://www.aicpa-cima.com/resources/article/learn-what-is-tested-on-the-cpa-exam |
AICPA FAR Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Select Transactions | 25-35% | - Accounting changes and error corrections - Leases and other significant transactions - Revenue recognition and transaction accounting |
| Topic 2: Select Balance Sheet Accounts | 30-40% | - Liabilities, equity transactions and related accounting requirements - Cash, receivables, inventory, PP&E, and intangible assets - Investments and financial instruments |
| Topic 3: Financial Reporting | 30-40% | - General purpose financial reporting for for-profit and non-profit entities - Foundational concepts related to accounting requirements for governmental entities - Preparation and presentation of financial statements, disclosures, and ratios |
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