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AICPA FAR exam : CPA Financial Accounting and Reporting

FAR Exam Questions
  • Exam Code: FAR
  • Exam Name: CPA Financial Accounting and Reporting
  • Updated: Sep 22, 2026
  • Q & A: 165 Questions and Answers
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AICPA FAR exam demo

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Difficulty in Writing Financial Accounting and Reporting (FAR) Exam

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Refer to the links down below to access the study materials. In the accounting industry, any aspiring accountant who wants to sit for the FAR Exam must have significant post-secondary education. For most test managers, a bachelor's degree from an accredited institution used to be enough. Applicants may, however, clear the exam with the right concentration and the right preparation material. RealExamFree have the most up-to-date FAR exam dumps.

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How to book the Financial Accounting and Reporting (FAR) Exam

Follow the steps mentioned below to book the Financial Accounting and Reporting FAR exam test:

  • Step 1: Determine your eligibility from the NASBA website by clicking here
  • Step 2: Select a jurisdiction where you want to become a licensed CPA
  • Step 3: Access the application by clicking here
  • Step 4: Complete the application and submit all required documents
  • Step 5: Schedule your exam by following this link

The benefit of obtaining the Financial Accounting and Reporting (FAR) Exam Certification

This qualification helps both new and seasoned accountants to test their qualifications, develop their abilities, and enhance their understanding of the overall discipline. Via their local state board, prospective applicants can learn more about the licensing process specifics and visit the NASBA website for information about the standardized CPA test. The growing demand for CPAs across the job market is motivated by many factors, so the trend is likely to continue soon. Accountants winning their FAR earn 10 percent more on average than non-FAR colleagues and have more chances to grow their careers. In job searching, being FAR certified can also be a big boon as it shows professional dedication and makes the candidate stand out from others. Among several other specialist fields, FAR certification demonstrates qualification for auditing, business strategy, bookkeeping, and forensic accounting. Becoming accredited opens the doors to hundreds of various career paths and is essential for foreign positions in particular.

Many accountants joining the profession are curious about the advantages of being Financial Accounting and Reporting (FAR) certified so that they can determine if the time and energy to undertake this achievement are worth devoting. The certification process may undoubtedly be rigorous and difficult, but for those employed in industry or finance, success offers some notable advantages. In the US, several states have their board that regulates the certification in their jurisdiction of public accountants.

What is the duration, language, and format of the Financial Accounting and Reporting (FAR) Exam

  • Duration of Exam: 4 hours
  • Passing score: 75
  • Format: Multiple choice, Task-based simulations, research prompts
  • Language of Exam: English

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AICPA FAR Exam Syllabus Topics:

SectionWeightObjectives
State and Local Government Accounting20–25%- Budgetary accounting
- Modified accrual vs full accrual accounting
- Fund accounting and governmental financial statements
Conceptual Framework, Standard-Setting, and Financial Reporting25–35%- Disclosure requirements
- Conceptual framework and GAAP hierarchy
- Financial statement presentation
Select Financial Statement Accounts30–40%- Revenue recognition (ASC 606)
- Leases (ASC 842)
- Equity, EPS, and share-based payments
- Pensions and post-employment benefits
- Consolidations and business combinations
Not-for-Profit (NFP) Accounting10–15%- NFP financial statements
- Revenue and contribution recognition

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