AICPA FAR Q&A - in .pdf
- Exam Code: FAR
- Exam Name: CPA Financial Accounting and Reporting
- Updated: Oct 10, 2026
- Q & A: 165 Questions and Answers
- Printable AICPA FAR PDF Format. It is an electronic file format regardless of the operating system platform.
- PDF Price: $49.99
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AICPA FAR Q&A - Testing Engine
- Exam Code: FAR
- Exam Name: CPA Financial Accounting and Reporting
- Updated: Oct 10, 2026
- Q & A: 165 Questions and Answers
- Install on multiple computers for self-paced, at-your-convenience training.
- PC Test Engine Price: $49.99
- Testing Engine
AICPA FAR Value Pack (Frequently Bought Together)
- If you purchase AICPA FAR Value Pack, you will also own the free online test engine.
- PDF Version + PC Test Engine + Online Test Engine
- Value Pack Total: $99.98 $69.99
About AICPA FAR Exam
Targeted preparation beats scattered reading every time, especially for a structured certification exam. TorrentValid keeps your FAR preparation targeted with 165 practice questions mapped to the AICPA CPA Financial Accounting and Reporting objectives, so you study exactly what the exam tests.
AICPA FAR Exam Overview:
| Certification Vendor: | AICPA |
|---|---|
| Exam Name: | Financial Accounting and Reporting |
| Exam Number: | FAR |
| Available Languages: | English |
| Real Exam Qty: | 50 MCQs + 7 TBSs |
| Related Certifications: | BAR ISC TCP REG AUD |
| Exam Format: | Computer-Based Test, Task-Based Simulations (TBS), Multiple-Choice Questions (MCQ) |
| Passing Score: | 75 (scaled 0-99) |
| Exam Price: | ~$359 USD per section (varies by jurisdiction) |
| Certificate Validity Period: | 30 months from passing |
| Exam Duration: | 240 minutes |
| Recommended Training: | AICPA Official FAR Blueprint & Resources |
| Exam Registration: | AICPA CPA Exam NASBA CPA Central Prometric Scheduling |
| Sample Questions: |  |
| Exam Way: | Computer-based testing at Prometric test centers or remote proctored (where allowed) |
| Pre Condition: | Bachelor's degree + 120–150 credit hours (jurisdiction-dependent), 24–30 hours in accounting/business courses; no prior exam required |
| Official Syllabus URL: | https://us.aicpa.org/becomeacpa/cpaexam/exam-content/far |
AICPA FAR Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Conceptual Framework, Standard-Setting and Financial Reporting | 25–35% | - Not-for-profit and public company reporting - General-purpose financial statements for for-profit entities - Employee benefit plan financial statements - Conceptual framework and standard-setting process |
| Topic 2: Select Financial Statement Accounts | 30–40% | - Cash, receivables, inventory, investments - Compensation, benefits and income taxes - Payables, debt, equity, revenue recognition - Property, plant and equipment, intangibles |
| Topic 3: State and Local Governments | 5–15% | - GASB standards and disclosure requirements - Governmental financial statements and reporting models - Fund accounting and modified accrual basis |
| Topic 4: Select Transactions | 20–30% | - Contingencies, R&D and subsequent events - Leases, business combinations and consolidations - Foreign currency, accounting changes and errors - Derivatives, hedging and fair value measurements |
FAR Exam FAQs
The AICPA CPA Financial Accounting and Reporting exam requires a score of 75 (scaled 0-99) to pass, and the official registration fee is ~$359 USD per section (varies by jurisdiction). Planning around both numbers helps you set a realistic budget and study schedule.
We believe useful study material should be accessible to every candidate, whatever their budget. That is why our prices are kept reasonable, why a free demo is open to everyone, and why discounts run from time to time — quality preparation should never be a privilege reserved for the few.
This package includes 165 practice questions for the AICPA CPA Financial Accounting and Reporting exam. Every answer is verified by an experienced team of experts, so you can trust what you study.
You can contact our customer service online or describe your problem by email, and you will receive a reply with a solution as quickly as possible. Whether your question is about purchasing, downloading, or using the material, our staff treats your time as a priority and works the issue through with you until it is resolved.
You can register for the AICPA CPA Financial Accounting and Reporting exam through the official channels:
Many candidates combine practice questions with official training. Recommended options include:
The AICPA CPA Financial Accounting and Reporting exam contains 50 MCQs + 7 TBSs questions, and you will have 240 minutes minutes to complete them. Practicing under the same time pressure makes the real exam feel like a rehearsal.
Bachelor's degree + 120–150 credit hours (jurisdiction-dependent), 24–30 hours in accounting/business courses; no prior exam required
You can confirm the current eligibility requirements on the official FAR exam page before you register.
The AICPA CPA Financial Accounting and Reporting practice questions are organized around the official exam objectives. Key topics include:
- Select Financial Statement Accounts (30–40%)
- Conceptual Framework, Standard-Setting and Financial Reporting (25–35%)
- Select Transactions (20–30%)
Targeted practice against these topics is far more efficient than unfocused reading.
AICPA CPA Financial Accounting and Reporting Sample Questions:
Which of the following types of entities are required to report on business segments?
- A. Publicly-traded enterprises.
- B. Not-for-profit enterprises.
- C. Joint ventures.
- D. Nonpublic business enterprises.
Correct Answer: D 🗳️
Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).
Is the cumulative effect of an inventory pricing change on prior years earnings reported on the financial
statements for
- A. Option B
- B. Option C
- C. Option D
- D. Option A
Correct Answer: A 🗳️
Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).
The summary of significant accounting policies should disclose the:
- A. Criteria for determining which investments are treated as cash equivalents.
- B. Concentration of credit risk of all financial instruments by geographical region.
- C. Maturity dates of noncurrent debts.
- D. Terms for convertible debt to be exchanged for common stock.
Correct Answer: A 🗳️
Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).
Dean Co. acquired 100% of Morey Corp. prior to 1989. During 1989, the individual companies included in
their financial statements the following:
What amount should be reported as related party disclosures in the notes to Dean's 1989 consolidated
financial statements?
- A. $150,000
- B. $330,000
- C. $155,000
- D. $175,000
Correct Answer: D 🗳️
Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).
In financial reporting of segment data, which of the following items is always used in determining a
segment's operating income?
- A. General corporate expense.
- B. Sales to other segments.
- C. Gain or loss on discontinued operations.
- D. Income tax expense.
Correct Answer: B 🗳️
Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).
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