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There are several ways to prepare for the Financial Accounting and Reporting (FAR) Exam. AICPA's official website provides tutorials on the exam content and also the sample FAR practice exams. These can be accessed via the “help” button against the sample tests provided on the website. Use the material on the internet to learn all the exam contents in detail and then take the practice sample tests through the AICPA website. To study for the Financial Accounting and Reporting (FAR) Exam, use the exam blueprints and study resources by accessing the links at the bottom of this document. Students are highly encouraged to join AICPA's Certification community where they can join students from all over the world and learn together. FAR exam dumps have ensured a 100% pass rate over the years so students are highly recommended to find these exam dumps on the Free4Torrent website and then test their knowledge on FAR practice exams. These are the best study materials one can get. For further exam self-study materials, refer to the links down below.
Hover on to AICPA's Website and take a look at study materials provided for the exam. Check for the topics mentioned in the Exam Outline section of this guide to review the online documentation, tip sheets, and user guides and study the details relevant to those topics. Refer to the links at the end of this document for more study material. As always, We recommend a combination of hands-on experience, completion of the training course, and self-study in the areas described in the Exam Outline section of this exam guide as preparation for this exam. After all sorts of study, test your understanding by taking the FAR practice test.
Generally, the more familiar you are with the FAR content, the less time you need to study, and the faster you can pass. So, how long will you need to study for FAR? Well, the best you can get is the FAR exam dumps that help you figure out what side of the study time spectrum you're probably on via a deeper investigation into FAR's content. You'll find the content areas, groups, and topics of FAR in the FAR CPA Exam blueprints.
Want to pass FAR fast? Then you'll need to study for 20 hours a week so you can finish your review in 6-8 weeks.
Can't fit that much study time into your routine? Then try studying for 15 hours a week. Doing so will prepare you in 8-11 weeks.
finally, if you can only study for 10 hours a week, you'll be ready for FAR in 12-16 weeks.
So, you can use any one of these study schedules or do anything in between. That's because of how fast you finish your FAR review depends on how much time you have to study in a week. But what's important is that you study consistently so you can stay in study mode and stick to your exam schedule.
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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: State and Local Governments | 5–15% | - Fund accounting and modified accrual basis - GASB standards and disclosure requirements - Governmental financial statements and reporting models |
| Topic 2: Conceptual Framework, Standard-Setting and Financial Reporting | 25–35% | - Employee benefit plan financial statements - Not-for-profit and public company reporting - Conceptual framework and standard-setting process - General-purpose financial statements for for-profit entities |
| Topic 3: Select Financial Statement Accounts | 30–40% | - Compensation, benefits and income taxes - Property, plant and equipment, intangibles - Payables, debt, equity, revenue recognition - Cash, receivables, inventory, investments |
| Topic 4: Select Transactions | 20–30% | - Contingencies, R&D and subsequent events - Leases, business combinations and consolidations - Foreign currency, accounting changes and errors - Derivatives, hedging and fair value measurements |
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