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CPALE · Day 3 AM · 70 MCQs

FAR

Financial Accounting and ReportingFinancial 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.

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At a glance

PFRS/PAS framework, financial statements, revenue recognition, assets, liabilities, and equity.

Conceptual Framework for Financial ReportingPresentation of Financial Statements (PAS 1)Revenue Recognition (PFRS 15)Property, Plant and Equipment (PAS 16)Investment Property (PAS 40)
01 · Topics covered

FAR in
full.

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)
02 · How CPA Review PH helps with FAR

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03 · About FAR

Frequent
questions.

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