AICPA : FAR Questions & Answers

Last Updated: Sep 04, 2026

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AICPA FAR Practice Q&A's

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

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 ActualTorrent 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.

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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
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  • Step 4: Complete the application and submit all required documents
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AICPA FAR Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: State and Local Government Accounting20–25%- Fund accounting and governmental financial statements
- Budgetary accounting
- Modified accrual vs full accrual accounting
Topic 2: Not-for-Profit (NFP) Accounting10–15%- NFP financial statements
- Revenue and contribution recognition
Topic 3: Select Financial Statement Accounts30–40%- 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 Reporting25–35%- Conceptual framework and GAAP hierarchy
- Financial statement presentation
- Disclosure requirements

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