Global On Demand(GOD) Class For CPA Financial Accounting and Reporting (FAR)

COURSE DESCRIPTION

The Financial Accounting and Reporting (FAR) section of the Uniform CPA Examination (the Exam) assesses the knowledge and skills that a newly licensed CPA must demonstrate in the financial accounting and reporting frameworks used by business entities (public and nonpublic), not-for-profit entities and state and local government entities.

The financial accounting and reporting frameworks that are eligible for assessment within the FAR section of the Exam include the standards and
regulations issued by the:
• Financial Accounting Standards Board (FASB)
• U.S. Securities and Exchange Commission (U.S. SEC)
• American Institute of Certified Public Accountants (AICPA)
• Governmental Accounting Standards Board (GASB)
• International Accounting Standards Board (IASB)

Financial Accounting and Reporting (FAR) CPA Exam Section

The Financial Accounting and Reporting (FAR) CPA Exam section historically has received the lowest pass rates of any CPA Exam section. In fact, CPA candidates often refer to FAR as the most difficult of the CPA Exam. FAR tests your knowledge of the financial accounting standards. In this four-hour exam, you are expected to prove that you have the knowledge and skills that a newly licensed CPA must demonstrate in the financial accounting and reporting frameworks used by business, not-for-profit, and state and local government entities.

How To Pass FAR

To pass FAR, you’ll need to understand the technical financial accounting standards and get comfortable performing accounting math under a time limit. That means really knowing the material and doing a lot of practice quizzes. If that sounds like a challenge, you can appreciate why FAR has the lowest CPA pass rate.