Last Updated: Sep 04, 2026
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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: State and Local Government Accounting | 20–25% | - Fund accounting and governmental financial statements - Budgetary accounting - Modified accrual vs full accrual accounting |
| Topic 2: Not-for-Profit (NFP) Accounting | 10–15% | - NFP financial statements - Revenue and contribution recognition |
| Topic 3: Select Financial Statement Accounts | 30–40% | - Revenue recognition (ASC 606) - Consolidations and business combinations - Leases (ASC 842) - Equity, EPS, and share-based payments - Pensions and post-employment benefits |
| Topic 4: Conceptual Framework, Standard-Setting, and Financial Reporting | 25–35% | - Conceptual framework and GAAP hierarchy - Financial statement presentation - Disclosure requirements |
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