CPA Financial Accounting and Reporting (FAR)

Certified Public Accountant Financial Accounting and Reporting examination.

Conceptual Framework of Financial AccountingFinancial Statement Preparation and PresentationRevenue Recognition
Accounting for Income TaxesLeases: Lessee and Lessor AccountingBusiness Combinations and Consolidation
Analyzing Financial StatementsApplying GAAP and IFRS to Real-World ScenariosEthics and Professional Responsibility in Financial Reporting
Mastering Multiple-Choice QuestionsTime Management on Exam DayApproaching Simulations and Case Studies
Conceptual Framework...Financial Statement ...Revenue RecognitionAccounting for Incom...Leases: Lessee and L...Business Combination...Analyzing Financial ...Applying GAAP and IF...Ethics and Professio...Mastering Multiple-C...Time Management on E...Approaching Simulati...
Study Strategies

Approaching Simulations and Case Studies

Tackling Task-Based Simulations

Simulations require applying concepts to practical scenarios. Read instructions carefully, organize your work, and double-check calculations.

  • Break down the scenario into manageable steps.
  • Use scratch paper to sketch out entries or calculations.
  • Always review your answers for accuracy.

Examples

  • Sketching a mini-balance sheet to help solve a consolidation simulation.

  • Listing the five revenue recognition steps when working through a contract scenario.