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For example, the FAR pass rates always go down very far when the exam changes (which happened in 20). And in the last 5 years, FAR’s pass rates have been the lowest. Only twice in the past 12 years has FAR had the highest pass rates among the CPA Exam sections. In fact, according to the pass rates, it’s the hardest CPA Exam section. Like I said, FAR’s known as a very challenging CPA Exam section. However, you’ll also notice that the cumulative FAR pass rate has been increasing over the last few years. For example, the Q2 2020 pass rate was higher than the Q1 2020 pass rate, which is normal. The most recent FAR pass rates have been fairly standard.
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GASB’s conceptual framework as well as the financial accounting and reporting requirements for state and local governments under the GASB standards and interpretations.Financial accounting and reporting requirements for select transactions that are applicable to entities under the FASB Accounting Standards Codification and the IASB standards.
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Financial accounting and reporting requirements in the FASBS Accounting Standards Codification that are applicable to financial statement accounts.FASB’s Conceptual Framework, FASB’s standard-setting process, and financial reporting topics such as general-purpose financial statements, disclosures specific to public companies, and financial statement prepared under special purpose frameworksĪrea II: Select Financial Statement Accounts.Therefore, the topics for the FAR content areas include: Area I: Conceptual Framework, Standard-Setting, and Financial Reporting International Accounting Standards Board (IASB).Governmental Accounting Standards Board (GASB).American Institute of Certified Public Accountants (AICPA).Financial Accounting Standards Board (FASB).FAR CPA Exam Section Content Content AreaĬonceptual Framework, Standard-Setting, and Financial Reportingįurthermore, the FAR CPA Exam Blueprints explain that the financial accounting and reporting frameworks FAR covers include the standards and regulations issued by the: This table breaks down the CPA FAR exam content for you. In 4 content areas, FAR mainly addresses financial reporting, financial statement accounts, transactions, and state and local governments. FAR CPA Exam Section ContentĪs I mentioned, FAR deals with financial accounting. But either way, you’ll need all of this essential CPA FAR exam information to start the process of passing. If you struggle with these topics, then your best plan of attack is to do everything you can to pass the first time. However, if you love accounting plain and simple, FAR probably won’t be so bad for you. For this reason, FAR has a reputation for being a bit of a beast. So, whether or not you love financial reporting, financial statements, and transactions, you must know all about these components of accounting in order to pass the FAR CPA Exam section.īasically, FAR is the section of the CPA Exam that makes you do the most accounting. Therefore, the CPA Exam tests CPA candidates for such knowledge and skills in the FAR section.
WILEY CPA EXAM REVIEW FINANCIAL ACCOUNTING AND REPORTING WINDOWS
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Time Management for the FAR CPA Exam Section.Difficulty Levels of Financial Accounting and Reporting on the CPA Exam.Introduction to the FAR CPA Exam Section.