far-cpa-exam-section

far-cpa-exam-sectionThe FAR (Financing Accounting and Reporting) section of the CPA exam covers topics like GAAP, financial statements, financial transactions, and reporting for non-profits. Many candidates consider the CPA FAR exam to be the most challenging of the four because of its length and scope of information covered on the test.

The FAR CPA exam is also difficult because it tests your understanding of financial reports, statement presentation, and significant business transactions using GAAP, IFRS, and Governmental Accounting systems. It’s also common to see topics like employee benefits, transfers, compiling operations and research costs, calculating fair value figures, and correcting errors in transactions on the exam as well.

Nkosafuna kunena, there’s a ton of information covered on this test. Let’s look at how it’s formatted and what you need to do to pass FAR.

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What’s on the FAR CPA Exam Section?


How Long is FAR?

The mtunda gawo ndi mayeso ola anayi.


FAR Topic Areas & Concepts Tested

Cilamulo M'chilamulo ndi Financial Kusimba: 25% – 35% – mitu kuphimba mbali zosiyanasiyana za muyezo kolowera, kumvetsa mfundo zachuma, ndi malipoti angapo. Muyenera kukhala bwino ndi ndalama malipoti ndondomeko mabungwe onse amene si a boma ndi omwe si a phindu.

Nkhani Financial Statement: 30% – 40% – these topics include the evaluation of balance sheet, income statement, cash flow statement, and statement of retained earnings accounts as well as transactions that affect these accounts.

Transactions: 20% – 30% – will cover computation and recognition of certain operations and items on the statement like contingencies, leases, etc.

State and Local Governmental Accounting: 5% – 15% – these topics typically cover generalized and very non-specific overviews of fund accounting and governmental accounting in general.

mpaka gawo-cpa-mayeso-okhutira

FAR CPA Exam Format and Structure

FAR starts with 2 multiple-choice testlets containing 33 mafunso angapo sankhani. After these testlets are completed, you will be allowed to take an optional 15 minute break. This break won’t count against you testing time like if you were to take a break in the middle of your exam. Kumbukirani, you don’t have to take this break if you don’t want to.

After the break, you will start the second two testlets containing eight task-based simulations.

FAR Exam Section Structure

FAR Exam Section2016 CPA Exam2017 CPA Exam
Multiple-Choice Questions9066
Zitsanzo ntchito Limanena78
Written Communication00

Section Format

TestletsQuestion Sets
Testlet #133 Multiple-Choice Questions
Testlet #233 Multiple-Choice Questions
Testlet #32 Zitsanzo ntchito Limanena
Testlet #43 Zitsanzo ntchito Limanena
Testlet #53 Zitsanzo ntchito Limanena

CPA FAR Exam Tip: Mark mafunso angapo sankhani simungathe kusankha ndi kupitiriza. Kodi si nthawi yambiri pa funso limodzi. Mukhoza tipende mafunso flagged pamaso panu kugonjera ndi testlet.


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Multiple-Choice Questions

Ther awiri testlets angapo kusankha mtunda. Aliyense testlet lili 33 mafunso angapo sankhani. Achikhalire loyamba mafunso adzakhala movutikira mafunso sing'anga pofuna kudziwa bwino nkhani ndi mfundo. Ngati inu kuchita bwino pa iwo, achikhalire wachiwiri udzakhala mafunso patsogolo kwambiri. Ngati inu kuchita bwino pa malo oyamba, udzapeza ndi sizivuta akonzedwa kuti testlet yachiwiri. Izo zikumveka lodabwitsa, koma mukufuna mafunso m'pamenenso. Mmodzi molondola anayankha funso zovuta ndi wofunika kwambiri kuposa angapo molondola anayankha mafunso zosavuta.

Kuchokera 66 okwana MCQs, 54 adzakhala kuwerenga kwa kugoletsa kwanu ndi 12 adzakhala mafunso pretest izo sizigwira kuwerenga ndi inu.

FAR CPA Tip: Musati chachiwiri ndikulingalira mayankho anu. nthawi zambiri, ganizo kapena m'matumbo wanu woyamba anachita ndi olondola. Chachiwiri kungoganizira nokha kungachititse kuti kusintha mayankho olondola. Kukhulupirira m'matumbo wanu!


Zitsanzo ntchito Limanena

The chachiwiri zoyeserera awiri zigwirizana 8 zoyeserera ntchito ofotokoza. zoyeserera awa Onani m'magazini m'njira zosiyanasiyana kuchokera zofanana kudzaza-mu--akusowekapo. Padzakhala wina funso kufufuza komwe inu adzafuna tchulani mabuku odalirika kuyankha mafunso.

zoyeserera ambiri lokhoza ndi kompyuta ndi Mwina tingachotsedwe pa mayesero tsankho kumaliza zolemba magazini koma china mizere ya ntchito potengera zakafufuku Mwachitsanzo. Isanu ndi iwiri ya zoyeserera awa ndi ntchito ndi 1 ndi pretest.


Testlet ndi kayeseleledwe Time Utali

Inu muyenera kusamalira nthawi anu ali pafupi kumaliza mayeso awo. Motero, inu tikhoza lonse maola anayi akuchita testlet woyamba ndi kuthamangitsidwa nthawi zina za mayeso. Ulamuliro wa chala chachikulu ndi kusiya mozungulira 2 maola kwa kayeseleledwe ntchito ofotokoza. Izi zimakupatsani inu za 110 masekondi kuyankha aliyense angapo kusankha funso!


How is FAR Weighted and Graded?

The MCQs ndi TBSs ndi kulemetsedwa yemweyo. Motero, 50% wa zigoli yanu zochokera mafunso angapo-chisankho 50% adzakhala zochokera zoyeserera ndi. Pano pali mtunda zili m'dera Kugawilidwa kwanthaka ndi mutu ndi kulemera. tebulo Chikuonetseranso Kugawilidwa kwanthaka luso mlingo watsopano CPA mayeso chojambulidwa amagwiritsa kuyesa nzeru zanu pa nkhani.

mpaka gawo-cpa-mayeso-chojambulidwa


MCQ and Simulation Grading Percentage and Distribution

Kuchuluka kwa kalasi ndi Zinapatsidwa kwa MCQ ndi Zitsanzo? Pomaliza, 50% a kalasi amachokera 66 MCQs ndi zina 50% amachokera 8-9 TBSs.

Exam Section2016 CPA Exam2017 CPA Exam
AUD60% MCQ
40% TBS
50% MCQ
50% TBS
BEC85% MCQ
15% WC
50% MCQ
35% TBS
15% WC
mtunda60% MCQ
40% TBS
50% MCQ
50% TBS
REG60% MCQ
40% TBS
50% MCQ
50% TBS

FAR Exam Pass Rates

Mtunda CPA mayeso Pass Mitengo

Kuyambira kumayambiriro latsopano mayeso mtunda ndi motsindika za IFRS, ndi mtunda yotalika pochitika mlingo wathetsedwa pa zaka zisanu zapitazi. mu 2010, mlingo chikudutsa anafika mkulu wa 52.71%. Mkulu wa 2016 anali chabe 48.07%.

This trend is likely to subside as more candidates get used to the new testing model and the exam blueprint. This info is published by the AICPA.


FAR CPA Exam Study Tips

Study Everything: FAR is HUGE. The FAR exam covers so much information. There’s no way you are going to be able to memorize everything. The important part is that you make it all the way through your CPA exam review materials and brush up on all the topics covered. You know how it goes. The one subject you skip over in your review course will be the one that is covered extensively on the exam. Cover everything!

Give Yourself Enough Time: Too many candidates schedule their FAR exam too close to their other exams. You need at least 7-8 weeks to properly prepare for this test. Don’t try to squeeze it in. It won’t turn out well.

Know Your Journal Entries: There are tons of journal entires on this test. Make sure you understand how to record transactions both physically and conceptually. A lot of the questions might not actually ask you to make entries, but the concepts involved in the question can be easily answered by making an AJE on a scrape of paper. Know your entries.

Amachita MCQs ku Imfa: Gwirani ntchito kupyolera MCQs anu mu CPA wanu review Inde. Ichi ndi mchitidwe yabwino mukhoza kupeza. Kodi ambili.


Should I Take FAR First?

Mwachibadwa, I would not recommend this for people. FAR is a huge exam and can be pretty daunting to study for. If you take it first, you might get discouraged and stop studying altogether. kapena woipa, you might fail it and give up on the exam.

I wouldn’t recommend this one first unless your knowledge of financial accounting is extremely strong going into it. Here’s which exam you should take first.


Ndiyenera Tengani mtunda Last?

I think choosing to take FAR last depends on your time frame. Are you running up against the 18-mwezi zenera? Ngati muli, FAR might not be a good choice for the last exam. If you fail it, your first exam will expire. Then you have to take FAR and your first passed exam again. I’d say FAR is best taken as your second or third exam.

This way it won’t push you up against the window and you will have one or two successful sections behind you to encourage you through the beast. 🙂


Amene ndi mtunda Chophweka Kuti?

FAR tends to be easier for candidates who have a good understanding of GAAP and financial accounting in general. Candidates who have recently taken advanced financial accounting courses in college and still have the information fresh in their minds also tend to do well. Don’t get me wrong though. A few recent college courses will not prepare you for FAR. You’ll need to study.

FAR is also easier for people working in the real world with GAAP. Motero, tax accountants might want to brush up on their GAAP skills.


Amene ndi mtunda lovutitsitsa?

The FAR is the long CPA exam section and it also covers the most information. Up until the new AICPA blueprints ndi 2017 changes, FAR used to be the longest test. Now all the exams are 4 hour exams. I have to be honest. FAR is hard for everyone. A lot of candidates say it’s the hardest out of the 4 CPA zigawo mayeso. I don’t know if I would say it’s the hardest, but it definitely requires the most work to get through all of the information. Most FAR study guides are twice as thick as the other sections. Yikes!

Typically candidates who have issues effectively scheduling their study sessions and don’t stick to a routine struggle with FAR. It’s a lot to cover and you have to dedicate yourself to this test almost more so than the other ones. If you don’t think you will be able to fully dedicate yourself to studying for FAR, I would suggest picking a different section to sit for next. You don’t want to slouch on this one. It’s either all or nothing in my opinion.


Other CPA mayeso Ndime


Kodi muli ndi ufulu CPA Review Ndithudi?

Have you started studying yet or did you fail FAR once? Mwanjira zonse, you’ll need a review course that actually works for you and matches your learning style. I compared all of the top courses side-by-side, so you can see which on is right for you. Check it out.

Kenneth W. Boyd

Kenneth W. Boyd is a former Certified Public Accountant (CPA) and the author of several of the popular "For Dummies" books published by John Wiley & Sons including 'CPA Exam for Dummies' and 'Cost Accounting for Dummies'.

Ken has gained a wealth of business experience through his previous employment as a CPA, Auditor, Tax akulembereni ndi College Professor. Today, Ken continues to use those finely tuned skills to educate students as a professional writer and teacher.