Certified Public Accountant (Financial Accounting & Reporting): Financial-Accounting-Reporting Exam


"Certified Public Accountant (Financial Accounting & Reporting)", also known as Financial-Accounting-Reporting exam, is a Admission Test Certification. With the complete collection of questions and answers, PrepAwayTest has assembled to take you through 161 Q&As to your Financial-Accounting-Reporting Exam preparation. In the Financial-Accounting-Reporting exam resources, you will cover every field and category in CPA Certification Certification helping to ready you for your successful Admission Test Certification.

  • Exam Code: Financial-Accounting-Reporting
  • Exam Name: Certified Public Accountant (Financial Accounting & Reporting)
  • Total Questions: 161

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The Financial Accounting and Reporting (FAR) section of the CPA exam is essential for individuals who want to demonstrate their mastery of accounting and financial reporting procedures. Candidates who pass Financial-Accounting-Reporting exam are seen as experts in their field and are highly sought after by employers. The CPA designation is considered a gold standard in the accounting industry, and passing the FAR section is a crucial step towards obtaining this highly respected certification.

Admission Test Financial-Accounting-Reporting (CPA FAR) is an essential requirement for any individual looking to become a Certified Public Accountant (CPA). The test assesses candidates’ knowledge and abilities in financial accounting and reporting principles, ensuring that they are well-equipped to handle the complexities of accounting and financial reporting in their future professional roles.

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Admission Test Financial-Accounting-Reporting Exam Syllabus Topics:

SectionWeightObjectives
Select Transactions25% - 35%- Accounting and Reporting Transactions
  • 1. Lease Accounting
  • 2. Contingencies and Commitments
  • 3. Accounting Changes and Error Corrections
  • 4. Fair Value Measurement
  • 5. Accounting for Income Taxes
  • 6. Revenue Recognition
  • 7. Subsequent Events
Select Balance Sheet Accounts30% - 40%- Assets, Liabilities and Equity
  • 1. Inventory
  • 2. Payables and Accrued Liabilities
  • 3. Equity Transactions
  • 4. Trade Receivables
  • 5. Long-Term Debt
  • 6. Cash and Cash Equivalents
  • 7. Intangible Assets
  • 8. Investments
  • 9. Property, Plant and Equipment
Financial Reporting30% - 40%- General Purpose Financial Reporting
  • 1. Financial Statement Ratios and Performance Metrics
  • 2. Public Company Reporting
  • 3. State and Local Government Concepts
  • 4. Special Purpose Frameworks
  • 5. Not-for-Profit Entities
  • 6. For-Profit Business Entities

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