Day 3 - Morning (AM)
FAR
Financial Accounting and Reporting
Financial Accounting and Reporting (FAR) is one of the most comprehensive subjects in the CPA board exam. It covers the conceptual framework of financial reporting, recognition and measurement of assets, liabilities, equity, income, and expenses under PFRS/PAS. Topics include revenue recognition (PFRS 15), leases (PFRS 16), financial instruments (PFRS 9), and comprehensive financial statement preparation.
Exam Details
Day 3
Morning (AM)
70 MCQs
30% Theory / 70% Problem-Solving
75% Passing
Min 65% per subject
Topics Covered in FAR
Conceptual Framework for Financial Reporting
Presentation of Financial Statements (PAS 1)
Revenue Recognition (PFRS 15)
Property, Plant and Equipment (PAS 16)
Investment Property (PAS 40)
Intangible Assets (PAS 38)
Inventories (PAS 2)
Impairment of Assets (PAS 36)
Provisions and Contingencies (PAS 37)
Financial Instruments (PFRS 9)
Leases (PFRS 16)
Employee Benefits (PAS 19)
Income Taxes (PAS 12)
Statement of Cash Flows (PAS 7)
Earnings Per Share (PAS 33)
How CPA Review PH Helps You Master FAR
AI Tutor
Get instant explanations for FAR questions. Ask follow-up questions 24/7.
Practice Questions
Thousands of FAR questions aligned with PRC board exam format.
Mock Exams
Simulate Day 3 exam conditions with timed 70-question mock exams.