![]() It is advisable to keep the format in mind and use reliable preparatory tools to nail this section. Candidates usually dread taking it due to the extensive syllabus and memorization required. It requires you to be well-versed in numerous technical topics containing formulas and calculations. ![]() Multiple-choice Questions (MCQ) Task-based Simulations (TBS)Ĭonceptual framework and standard-setting for business and non-business entitiesįinancial accounting and reporting requirements for select financial statement accounts under the FASBįinancial accounting and reporting requirements for select accounting transactions under the FASBįinancial accounting and reporting requirements for local and state governments under the GASBįAR is often considered the most comprehensive exam section due to the vast range of the testable topics. Now, let’s take a look at the details of the FAR CPA Exam Section. Please note that AICPA conducts the CPA Exam CPA Exam A Certified Public Accountant (CPA) is a US state board-issued license to practice the accounting profession read more jointly with the National Association of State Boards of Accountancy (NASBA) and the 55 US jurisdictions. ![]() Governmental Accounting Standards Board (GASB).American Institute of Certified Public Accountants (AICPA).US Securities and Exchange Commission (US SEC).International Accounting Standard Board (IASB).Financial Accounting Standards Board (FASB).This section incorporates standards and regulations issued by the following entities: Being one of the most demanding sections of the CPA Exam, FAR requires the right preparation tips and strategies to pass it in the first go. It assesses your understanding of different accounting standards used by government, not-for-profit, and business entities. Financial Accounting and Reporting (FAR) is among the four Certified Public Accountant (CPA) Exam sections that you must qualify for CPA licensure.
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