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CPA Exam — FAR: Financial Accounting and Reporting (Core) Practice Exam

CPA-FAR

Core section covering GAAP financial accounting and reporting for business entities, not-for-profits, and state/local governments.

Exam Details

Official CPA-FAR exam format

Questions
78
Time Limit
240 minutes
Passing Score
75/99
Domains
3
2,500+
Practice Questions
100
Unique Practice Exams

Exam Domains

The CPA Exam — FAR: Financial Accounting and Reporting (Core) exam covers 3 domains with different weight percentages

Domain 1: Financial Reporting

35%

Conceptual framework and financial statement presentation under US GAAP and IFRS.

Topics covered:
  • Conceptual framework
  • Income statement
  • Balance sheet and OCI
  • Statement of cash flows
  • IFRS vs. US GAAP
  • Not-for-profit accounting

Domain 2: Select Balance Sheet Accounts

35%

Recognition, measurement, and disclosure for key balance sheet items.

Topics covered:
  • Cash and receivables
  • Inventory
  • Property, plant and equipment
  • Intangibles and goodwill
  • Investments
  • Liabilities

Domain 3: Select Transactions

30%

Accounting for complex transactions including revenue, leases, and consolidations.

Topics covered:
  • Revenue recognition (ASC 606)
  • Leases (ASC 842)
  • Business combinations (ASC 805)
  • Consolidation (ASC 810)
  • Foreign currency transactions
  • Income taxes (ASC 740)

What You Get with BetaStudy

2,500+ Questions

Comprehensive question bank covering all exam domains

Timed Exams

Practice under real exam conditions with 240-minute timer

Detailed Explanations

Understand why answers are correct with detailed explanations

Progress Tracking

Track your performance by domain and watch yourself improve

Frequently Asked Questions

Common questions about the CPA Exam — FAR: Financial Accounting and Reporting (Core) certification exam

How many questions are on the CPA Exam — FAR: Financial Accounting and Reporting (Core) exam?
The CPA Exam — FAR: Financial Accounting and Reporting (Core) (CPA-FAR) exam contains 78 questions that must be completed within 240 minutes.
What is the passing score for CPA Exam — FAR: Financial Accounting and Reporting (Core)?
You need to score 75 out of 99 (76%) to pass the CPA Exam — FAR: Financial Accounting and Reporting (Core) certification exam.
What topics are covered in the CPA Exam — FAR: Financial Accounting and Reporting (Core) exam?
The exam covers 3 main domains: Financial Reporting, Select Balance Sheet Accounts, Select Transactions. Each domain has different weight percentages based on importance.
How can BetaStudy help me pass the CPA Exam — FAR: Financial Accounting and Reporting (Core) exam?
BetaStudy provides 2,500+ practice questions covering all 3 exam domains, 100 unique practice exams that simulate real exam conditions, detailed explanations for every answer, and progress tracking to identify your weak areas.
Are the practice questions updated for the latest CPA-FAR exam?
Yes, our questions are automatically updated whenever the official exam syllabus changes. We monitor the official AICPA certification page and regenerate questions to match the current exam format.

Official Resources

Official Exam GuideAICPA Documentation

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