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

Mastering Multiple-Choice Questions

Tips for Conquering MCQs

Multiple-choice questions make up a large portion of the FAR exam. To succeed, practice active reading, eliminate obviously wrong answers, and pace yourself.

  • Read each question carefully and look for keywords.
  • Use logic and accounting knowledge to rule out distractors.
  • Don’t spend too long on one question; mark and return if needed.

Examples

  • Highlighting key terms in a question to focus on what’s being asked.

  • Crossing out two obviously incorrect choices to boost odds of a correct guess.

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Time Management on Exam Day