PDF Version DemoA AICPA credential can reshape your career, and the FAR exam is the hurdle in front of it. Braindumpsqa packs 165 carefully verified practice questions into material that gets you ready for the AICPA CPA Financial Accounting and Reporting exam without wasted effort.
AICPA FAR Exam Overview:
| Certification Vendor: | AICPA |
|---|---|
| Exam Name: | Financial Accounting and Reporting |
| Exam Number: | FAR |
| Exam Format: | Task-Based Simulations (TBS), Multiple-Choice Questions (MCQ), Computer-Based Test |
| Real Exam Qty: | 50 MCQs + 7 TBSs |
| Passing Score: | 75 (scaled 0-99) |
| Exam Duration: | 240 minutes |
| Certificate Validity Period: | 30 months from passing |
| Related Certifications: | ISC REG TCP AUD BAR |
| Available Languages: | English |
| Exam Price: | ~$359 USD per section (varies by jurisdiction) |
| Recommended Training: | AICPA Official FAR Blueprint & Resources |
| Exam Registration: | NASBA CPA Central AICPA CPA Exam 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: Select Transactions | 20–30% | - Contingencies, R&D and subsequent events - Leases, business combinations and consolidations - Derivatives, hedging and fair value measurements - Foreign currency, accounting changes and errors |
| Topic 2: State and Local Governments | 5–15% | - GASB standards and disclosure requirements - Fund accounting and modified accrual basis - Governmental financial statements and reporting models |
| Topic 3: Conceptual Framework, Standard-Setting and Financial Reporting | 25–35% | - Employee benefit plan financial statements - Not-for-profit and public company reporting - General-purpose financial statements for for-profit entities - Conceptual framework and standard-setting process |
| Topic 4: Select Financial Statement Accounts | 30–40% | - Compensation, benefits and income taxes - Property, plant and equipment, intangibles - Payables, debt, equity, revenue recognition - Cash, receivables, inventory, investments |
AICPA CPA Financial Accounting and Reporting Exam FAQ Hub
How much does the FAR exam cost, and what is the passing score?
Registering for the AICPA CPA Financial Accounting and Reporting exam costs ~$359 USD per section (varies by jurisdiction), and you need 75 (scaled 0-99) to pass. One detail worth remembering: a failed attempt is not discounted — retaking the exam means paying ~$359 USD per section (varies by jurisdiction) again in full. Use the Braindumpsqa test engine to benchmark yourself first; when your mock results consistently clear 75 (scaled 0-99), you are ready to book.
What is the AICPA CPA Financial Accounting and Reporting certification exam?
The FAR exam is AICPA's official test for the US Uniform CPA Certification credential, a certification at the Core / Professional level. Earning it tells employers your skills have been verified by the vendor itself, which carries real weight in hiring and promotion decisions. Within the same certification track, it sits alongside AUD, REG, BAR, ISC, TCP, so it can also serve as a stepping stone toward those credentials.
Which topics does the FAR exam test?
AICPA divides the AICPA CPA Financial Accounting and Reporting exam into 4 domains. The largest ones are State and Local Governments at 5–15%, Select Financial Statement Accounts at 30–40%, Conceptual Framework, Standard-Setting and Financial Reporting at 25–35% — together these account for the bulk of your score, so start there. The complete domain-by-domain outline appears in the exam topics section above on this page.
If I fail the AICPA CPA Financial Accounting and Reporting exam, what are my options? And how fast do I get the product?
Two layers of protection here. First, delivery: your FAR product is available for instant download, and a copy lands in your email within one minute of payment — if 2 hours pass with nothing (check spam first), our support team will resend it. There is no cap on how many computers you can install it on. Second, the refund policy: if you take the FAR exam within 60 days of purchase and fail, you may claim a full refund. The claim needs a scanned enrollment slip plus your official Score Report PDF, filed within 2 days after the exam, and it is settled within 7 days. The policy covers only the corresponding exam — attempts within 3 days of purchase, exams never actually taken, free materials, and expired orders are excluded, and the candidate's name must match the payer's. If you would rather keep studying, you can instead exchange your product for two free exam products of equal value and keep the update service on your original purchase.
How long is the FAR exam, and how many questions does it have?
You will face 50 MCQs + 7 TBSs questions in 240 minutes on the AICPA CPA Financial Accounting and Reporting exam. Do the math and the per-question budget is tight, which is why pacing drills matter as much as content review. Our advice: take two or three full timed mocks in the Braindumpsqa engine before the real thing, and practice skipping a stubborn question instead of burning five minutes on it.
Does AICPA recommend any official training for the FAR exam?
Yes — AICPA lists these official training options for AICPA CPA Financial Accounting and Reporting candidates:
Formal training teaches the syllabus; then the 165 practice questions from Braindumpsqa show you whether that knowledge holds up under real exam conditions.
Can I test-drive the FAR material before paying?
Of course. Braindumpsqa publishes a free PDF demo for the AICPA CPA Financial Accounting and Reporting exam so you can review real sample questions and answers first. Every purchase also includes 365 days of free updates, and after that period you can renew the update service at a 50% discount directly from your member zone.
Do I need to meet any requirements before taking the FAR exam?
Bachelor's degree + 120–150 credit hours (jurisdiction-dependent), 24–30 hours in accounting/business courses; no prior exam required Eligibility rules are set by AICPA and do change from time to time, so double-check the latest requirements on the official exam page at https://us.aicpa.org/becomeacpa/cpaexam/exam-content/far before you register.
Where do I sign up for the AICPA CPA Financial Accounting and Reporting exam?
Registration for the FAR exam runs through these official channels:
As for how you will actually sit the exam: Computer-based testing at Prometric test centers or remote proctored (where allowed). Choose whichever delivery option suits your setup when you book.
AICPA CPA Financial Accounting and Reporting Sample Questions:
Question #1
According to the FASB conceptual framework, which of the following relates to both relevance and
reliability?
A. Comparability.
B. Feedback value.
C. Timeliness.
D. Verifiability.
Question #2
Grum Corp., a publicly-owned corporation, is subject to the requirements for segment reporting. In its
income statement for the year ended December 31, 1991, Grum reported revenues of $50,000,000,
operating expenses of $47,000,000, and net income of $3,000,000. Operating expenses include payroll
costs of $ 15,000,000. Grum's combined identifiable assets of all industry segments at December 31,
1 991, were $40,000,000.
Cott Co.'s four business segments have revenues and identifiable assets expressed as percentages of
Cott's total revenues and total assets as follows:
Which of these business segments are deemed to be reportable segments?
A. Ebon and Fair only.
B. Ebon only.
C. Ebon, Fair, and Gel only.
D. Ebon, Fair, Gel, and Hak.
Question #3
Coffey Corp.'s trial balance of Income Statement Accounts for the year ended December 31, 1988 as
follows: Coffey's income tax rate is 30%. The gain on debt extinguishment is considered a usual and
recurring part of Coffey's operations. Coffey prepares a multiple-step income statement for 1988.
Income from operations before income tax is:
A. $200,000
B. $240,000
C. $230,000
D. $190,000
Question #4
The following information pertains to Aria Corp. and its divisions for the year ended December 31, 1988:
Aria and all of its divisions are engaged solely in manufacturing operations. Aria has a reportable segment
if that segment's revenue exceeds:
A. $200,000
B. $264,000
C. $204,000
D. $260,000
Question #5
In general, an enterprise preparing interim financial statements should:
A. Allocate revenues and expenses evenly over the quarters, regardless of when they actually occurred.
B. Disregard permanent decreases in the market value of its inventory.
C. Defer recognition of seasonal revenue.
D. Use the same accounting principles followed in preparing its latest annual financial statements.
Solutions:
| Question #1 Correct Answer: A | Question #2 Correct Answer: D | Question #3 Correct Answer: B | Question #4 Correct Answer: D | Question #5 Correct Answer: D |
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