Tips to Clear CPA FAR Exam

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Tips to Clear CPA FAR Exam AU GU S T 8, 202 0

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FAR (Financing Accounting and Reporting) is one of the sections in the CPA exam. It covers topics like nancial statements, GAAP, reporting, and nancial transactions. The CPA aspirants consider FAR as a challenging section because of its length. CPA FAR Exam Format:

CPA FAR Exam Format: The FAR section starts with two multiple-choice testlets containing 33 MCQs in each testlet. Later, you are allowed to start two testlets which contain 8 task-based simulations.

Question Type

No of Questions

Multiple-Choice Questions

66

Task-Based Simulations

8

Related Article: CPA FAR EXAM PREPARATION STRATEGY | FAR CPA EXAM TIPS BY PRACHET REDDY FAR Concepts:

Concepts

Allocation

Select Financial Statement Accounts

30-40%

Conceptual Framework and Financial Reporting

25-30%

State and Local Governmental Accounting

5-15%

Select Transactions

20-30%

Study Tips: Below are the study tips for the CPA-FAR exam

• Cover All the Topics • Give Yourself Enough Time • Know Your Journal Entries • Practice MCQs

• Practice MCQs Cover All the Topics: The CPA-FAR exam covers a lot of information. It’s important to go through the CPA review material and cover all the topics. Give Yourself Enough Time: If you are willing to take the FAR exam, you need at least 7 to 8 weeks to prepare for the exam. So, give yourself enough time for exam preparation. Know Your Journal Entries: There are many journal entries on this exam. It’s important to know how to record transactions both conceptually and physically. Practice MCQs: Keep practicing MCQs in the CPA review course. Do as many as possible.

Related Article: ALL ABOUT THE CPA – FAR EXAM Conclusion: Hope you found useful tips to clear the CPA FAR exam. You can easily crack the exam by following the above study tips. If you have any queries, feel free to comment in the below section.

Simandhar Education Simandhar is the of cial partner of Becker and AICPA – The largest Training provider for US CPA, US CMA, IFRS, and EA courses in India. Learn how to clear your CPA exams with extremely satisfying results by getting proper guidance and knowledge through our online courses and video tutorials taught by industry experts. We’re here to provide you with all the help that you need in order to ace your CPA, CMA exams. We are just a call away for any assistance. Simandhar Education is the leading training provider for the CPA Exam in India. Contact us@ 91 9390584166.

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