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Certification vendors revise their blueprints without much warning, and stale material is worse than none at all. 2Pass4sure reviews and updates its FAR practice questions on a continuous basis, with 365 days of free updates, so the 165 items you study stay aligned with the live AICPA CPA Financial Accounting and Reporting exam.

AICPA FAR Exam Overview:

Certification Vendor:American Institute of Certified Public Accountants (AICPA)
Exam Name:Financial Accounting and Reporting
Exam Number:FAR
Exam Price:Varies by jurisdiction (national section fee example ~USD 359 before local fees)
Passing Score:75 (scaled score on a 0–99 scale)
Real Exam Qty:50 multiple-choice questions (MCQs) + 7 task-based simulations (TBSs)
Certificate Validity Period:Not applicable (CPA Exam section score credits valid 30 months toward full CPA license)
Available Languages:English
Related Certifications:CPA Information Systems and Controls (ISC)
CPA Tax Compliance and Planning (TCP)
CPA Auditing and Attestation (AUD)
CPA Business Analysis and Reporting (BAR)
CPA Taxation and Regulation (REG)
Exam Format:Task-Based Simulations (TBSs), Multiple-Choice Questions (MCQs)
Exam Duration:240 minutes
Sample Questions: DOWNLOAD DEMO
Exam Way:Computer-based testing at Prometric testing centers or international testing sites
Pre Condition:Meet applicable state board of accountancy eligibility requirements (education and application process) and receive Authorization to Test (ATT).
Official Syllabus URL:https://www.aicpa-cima.com/resources/article/learn-what-is-tested-on-the-cpa-exam

AICPA FAR Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Select Transactions25-35%- Revenue recognition and transaction accounting
- Accounting changes and error corrections
- Leases and other significant transactions
Topic 2: Select Balance Sheet Accounts30-40%- Liabilities, equity transactions and related accounting requirements
- Investments and financial instruments
- Cash, receivables, inventory, PP&E, and intangible assets
Topic 3: Financial Reporting30-40%- Foundational concepts related to accounting requirements for governmental entities
- General purpose financial reporting for for-profit and non-profit entities
- Preparation and presentation of financial statements, disclosures, and ratios

Answers to the Most Common Questions About AICPA CPA Financial Accounting and Reporting

The FAR exam is the official AICPA exam for AICPA CPA Financial Accounting and Reporting. Passing it earns you the AICPA Certification credential, which sits at the Core Section of CPA Exam level. It is also connected to CPA Auditing and Attestation (AUD), CPA Taxation and Regulation (REG), CPA Business Analysis and Reporting (BAR), CPA Information Systems and Controls (ISC), CPA Tax Compliance and Planning (TCP), so what you learn carries over if you plan to pursue those paths as well. Employers treat the certification as verified proof of skill, which is why structured preparation with 2Pass4sure's practice questions pays off.

The FAR exam contains 50 multiple-choice questions (MCQs) + 7 task-based simulations (TBSs) questions, and the time limit is 240 minutes. Translate that into a pacing plan before exam day: know roughly how long you can afford per item, flag anything that stalls you, and circle back at the end instead of burning minutes. Two or three full timed sessions in 2Pass4sure's test engine will teach you that rhythm far better than untimed reading ever will.

The passing score for the FAR exam is 75 (scaled score on a 0–99 scale), and the official registration fee is Varies by jurisdiction (national section fee example ~USD 359 before local fees). Remember that a failed attempt means paying that fee again in full for a retake, so treat self-assessment as part of the budget: run 2Pass4sure's practice questions under timed conditions and only book your seat once your scores sit comfortably above the passing bar.

Meet applicable state board of accountancy eligibility requirements (education and application process) and receive Authorization to Test (ATT). Eligibility details can change, so before you register, confirm the current requirements on the official exam page: https://www.aicpa-cima.com/resources/article/learn-what-is-tested-on-the-cpa-exam.

Yes. 2Pass4sure offers a free PDF demo of the AICPA CPA Financial Accounting and Reporting practice questions on the samples page, so you can judge the format and quality yourself before paying anything. Every purchase also includes 365 days of free updates, and after the product expires you can extend the update service at a 50% discount from within your member zone.

If you take the corresponding exam within 60 days of purchase and do not pass, 2Pass4sure backs you with a 100% money-back guarantee. To claim it, submit a scanned copy of your exam enrollment slip together with your official Score Report PDF within 2 days of the exam, and the refund is processed within 7 days. The guarantee does not apply to attempts made within the first 3 days after purchase, to products downloaded without actually sitting the exam, or to free materials and expired orders, and the candidate name must match the payer's name. If you would rather have study material than money, you can instead exchange for two additional exam products of equal value, free of charge, while keeping the update service on your original purchase. Delivery itself is instant: your download is available right after payment and a copy reaches your mailbox within one minute — if nothing arrives within 2 hours, contact customer service. You may install the product on as many computers as you need.

The official AICPA CPA Financial Accounting and Reporting blueprint is organized into 3 domains. The leading areas are:

  • Select Transactions — 25-35% of the exam
  • Financial Reporting — 30-40% of the exam
  • Select Balance Sheet Accounts — 30-40% of the exam

For the complete domain-by-domain breakdown with every subtopic, see the Exam Topics outline above.

AICPA CPA Financial Accounting and Reporting Sample Questions:

Question 1

In which of the following situations should a company report a prior-period adjustment?

A. The correction of a mathematical error in the calculation of prior years' depreciation.
B. The scrapping of an asset prior to the end of its expected useful life.
C. A change in the estimated useful lives of fixed assets purchased in prior years.
D. A switch from the straight-line to double-declining balance method of depreciation.


Question 2

A development stage enterprise should use the same generally accepted accounting principles that apply
to established operating enterprises for:

A. Option A
B. Option C
C. Option D
D. Option B


Question 3

In single period statements, which of the following should not be reflected as an adjustment to the
opening balance of retained earnings?

A. Effect of a decrease in the estimated useful life of depreciable equipment.
B. Cumulative effect of a change from the percentage of completion to the completed contract method of
accounting for long-term construction projects.
C. Effect of a failure to provide for uncollectible accounts in the previous period.
D. Cumulative effect of a change from LIFO to FIFO in valuing merchandise inventory.


Question 4

Which of the following accounting pronouncements is the most authoritative?

A. AICPA Statement of Position.
B. AICPA Accounting Principles Board Opinion.
C. FASB Statement of Financial Accounting Concepts.
D. FASB Technical Bulletin.


Question 5

Which of the following is not a valuation technique that can be used to measure the fair value of an asset
or liability?

A. The impairment approach.
B. The cost approach.
C. The income approach.
D. The market approach.


Solutions:

Question 1
Answer: A
Question 2
Answer: A
Question 3
Answer: A
Question 4
Answer: B
Question 5
Answer: A

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