FAR is one of the three Core sections of the US CPA Examination. It focuses on the accounting and financial reporting knowledge required of a CPA, particularly the preparation and understanding of financial statements under U.S. accounting standards.
Topics Included
Covers US GAAP, Financial Statements, Revenue Recognition, Consolidations, and Government & Not-for-Profit Accounting.
Exam Pattern
- 50 MCQs
- 7 Task-Based Simulations (TBS)
- MCQs: 50% weightage
- TBS: 50% weightage
Passing Score: 75 or above on the CPA Exam’s 0–99 scoring scale. A score of 75 does not mean 75% correct.