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AICPA Uniform CPA Examination — FAR Section

CPA Exam Prep
Practice for the FAR Section

The FAR section covers Financial Accounting & Reporting — the broadest CPA exam section. Practice with AI-generated scenarios and get instant feedback with ASC and GASB citations.

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4
FAR Content Areas
100+
Questions / Section
4
Difficulty Levels
4 hrs
FAR Exam (real)

Four FAR Content Areas

Each area's exam weight is shown — weightings guide study priority

27%
ASC / GAAP / IFRS

Financial Reporting

Financial statement presentation, comprehensive income, EPS, segment reporting, and SEC requirements under US GAAP and IFRS.

  • Conceptual Framework
  • Income Statement & Comprehensive Income
  • Balance Sheet Classification
  • Statement of Cash Flows
  • Earnings Per Share (Basic & Diluted)
  • + 3 more topics
~33 questions · 27% of FAR exam
Practice Financial Reporting
23%
ASC / GAAP

Select Financial Statement Accounts

Asset, liability, and equity account measurements: inventory methods, PP&E, investments, bonds, and stockholders' equity.

  • Cash and Accounts Receivable
  • Inventory (FIFO, LIFO, Average Cost, LCM/NRV)
  • Property, Plant & Equipment
  • Intangible Assets & Goodwill
  • Investments (Trading, AFS, HTM, Equity Method)
  • + 2 more topics
~28 questions · 23% of FAR exam
Practice Select Financial Statement Accounts
27%
ASC / GAAP

Select Transactions

Complex multi-standard accounting events including revenue recognition, leases, pensions, business combinations, and derivatives.

  • Revenue Recognition (ASC 606 — 5-Step Model)
  • Leases (ASC 842 — Operating vs Finance)
  • Income Taxes (Deferred Tax Assets & Liabilities)
  • Pensions & Post-Retirement Benefits
  • Stock-Based Compensation
  • + 3 more topics
~33 questions · 27% of FAR exam
Practice Select Transactions
23%
GASB

State & Local Governments

GASB-based fund accounting, government-wide statements, budgetary accounting, and comprehensive annual financial reports.

  • Fund Accounting (Governmental, Proprietary, Fiduciary)
  • Government-Wide Financial Statements
  • Budgetary Accounting
  • Revenue Recognition for Governments
  • GASB vs FASB Standards
  • + 1 more topics
~28 questions · 23% of FAR exam
Practice State & Local Governments

What's Included

🤖
AI-Generated Scenarios
Realistic questions with fictional company names and specific dollar amounts — never the same question twice.
📖
ASC & GASB Citations
Every explanation references the specific ASC Topic/Subtopic, GASB Statement, or GAAP principle controlling the answer.
⏱
Timed Exam Mode
Simulate real FAR exam pressure with a 4-hour countdown timer — the same time limit as the actual CPA FAR section.
🎯
Topic-by-Topic Focus
Drill specific topics: revenue recognition (ASC 606), leases (ASC 842), pensions, governmental fund accounting, and more.
📊
Instant Score Feedback
See your score and grade after each 20-question session with pass/fail indicator based on CPA passing standards.
🔁
4 Difficulty Levels
Progress from Easy recall through Expert-level edge cases testing precise ASC guidance and measurement nuances.

About the CPA FAR Section

Exam Format
66 MCQ + 8 TBS (Task-Based Simulations) in 4 hours
Passing Score
75 or above on a 0–99 scale (scaled scoring)
Difficulty
Historically the most difficult CPA exam section (~45% pass rate)

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