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Exam Code: FAR
Exam Name: CPA Financial Accounting and Reporting
Updated: Jul 28, 2026
Q & A: 165 Questions and Answers
FAR Free Demo download
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| Section | Weight | Objectives |
|---|---|---|
| Select Transactions | 25-35% | - Accounting changes and error corrections - Revenue recognition and transaction accounting - Leases and other significant transactions |
| 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 |
| 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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