The CPA FAR (Financial Accounting and Reporting) exam strives to ensure that candidates meet the necessary skill and knowledge requirements to perform their work in a way that protects the public interest while working within the laws and regulations.

The FAR Exam covers financial statements, transactions, related events, and accounting and reporting for governmental entities, non-governmental entities, and not-for-profit organizations.

AGENDA

Conceptual Framework, Standard-Setting and Financial Reporting

• Conceptual framework and standard-setting
• General-purpose financial statements: for-profit business entities
• General-purpose financial statements: nongovernmental, not-for-profit entities
• Public company reporting topics
• Financial statements of employee benefit plans
• Special purpose frameworks

Select Financial Statement Accounts

• Cash and cash equivalents
• Trade receivables
• Inventory
• Property, plant and equipment
• Investments
• Intangible assets
• Payables and accrued liabilities
• Long-term debt
• Equity
• Revenue recognition
• Compensation and benefits
• Income taxes

Select Transactions

• Accounting changes and error corrections
• Business combinations
• Contingencies and commitments
• Derivatives and hedge accounting
• Foreign currency transactions and translation
• Leases
• Nonreciprocal transfers
• Research and development costs
• Software costs
• Subsequent events
• Fair value measurements
• Differences between IFRS and U.S. GAAP

State and Local Governments

• State and local government concepts
• Format and content of the Comprehensive Annual Financial Report (CAFR)
• Deriving government-wide financial statements and reconciliation requirements
• Typical items and specific types of transactions and events in governmental entity financial statements
• Planning techniques

How Our CPA Exam Prep Program Works

To top off your learning and get you prepared for your CPA exam, our CPA Review Course includes our famous 'Test Prep Software'. You simply will not find a more powerful adaptive test engine anywhere. This unique, one-of-a-kind, triple-testing methodology of our adaptive software is the best choice to guarantee your success on test day.

Our three modes are what make the difference:

• Pretest Mode:
  Diagnostic exam determines immediately where you stand and establishes your baseline knowledge. No need to waste valuable time studying what you already know.


• Adaptive Drill Mode:
  Once you know where you stand, spend your time drilling on your weak areas. A custom study plan drills you over and over turning your weaknesses into strengths. Don't understand a question? Thorough explanations are right at your fingertips ensuring you learn, understand, and retain the most complex concepts of the exam. Plus imagine the time saved not having to flip through a thousand-page book!


• Simulated Mode:
  Once you master the adaptive drills, take your newfound knowledge and build your confidence in our simulated exams. In this mode the exams are timed to put pressure on you, with tough exam quality questions to create a "realistic" preparatory testing environment to ensure you have the endurance and stamina come test day.

While in all three modes, we track your progress recording every move you make. Watch in amazement as your weaknesses start turning into strengths.

You will not find more accurate content. There's a right answer, a wrong answer, and then there is the IRS answer. We prepare you for the exam so there are no surprises on test day. We teach you and prepare you the way the IRS wants you prepared.

Our method works. There is not a more effective way to prepare for the CPA exams. We don't offer 10,000 questions. That's by design. You don't need to, and you aren't going to go through 10,000+ practice questions. What we do instead is focus on exactly what you need to know to pass the exam. Then we make sure you know it, know how to apply it and are going to be successful on test day.

How To Access Your Course

Upon enrollment, you will receive an email from the course provider (Lambers) with information to access your course. You will have full access to the course and it's modules for one full year.