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Study Session: FAR

You can select the number of MCQ you would like to answer or an increment of time. Make your choice, and then your study session will begin once you click "Start MCQ."

Study Session: FAR
  • AICPA Blueprint
  • By NINJA Chapter
  • 1. Financial Reporting - [767]
    • A. General-Purpose Financial Reporting: For-Profit Business Entities - [348]
      • i. Fundamentals of Accounting & Conceptual Framework - [37]
      • ii. Balance Sheet/Statement of Financial Position - [17]
      • iii. Income Statement/Statement of Profit or Loss and Statement of Comprehensive Income - [94]
      • iv. Statement of Changes in Equity - [7]
      • v. Statement of Cash Flows - [69]
      • vi. Consolidated Financial Statements (including Wholly-Owned Subsidiaries and Non-Controlling Interests... - [101]
      • vii. Notes to financial statements - [23]
    • B. General-Purpose Financial Reporting: Nongovernmental Not-for-Profit Entities - [166]
    • C. State and Local Government Concepts - [98]
    • D. Public Company Reporting Topics - [74]
    • E. Special Purpose Frameworks - [27]
    • F. Financial Statement Ratios and Performance Metrics - [54]
  • 2. Select Balance Sheet Accounts - [706]
    • A. Cash and Cash Equivalents - [26]
    • B. Trade Receivables - [57]
    • C. Inventory - [103]
    • D. Property, Plant and Equipment - [102]
    • E. Investments - [76]
      • i. Financial Assets at Fair Value - [33]
      • ii. Financial Assets at Amortized Cost - [13]
      • iii. Equity Method Investments - [30]
    • F. Intangible Assets - [35]
    • G. Payables and Accrued Liabilities - [73]
    • H. Debt (Financial Liabilities) - [112]
      • i. Notes and Bonds Payable - [101]
      • ii. Debt Covenant Compliance - [11]
    • I. Equity - [122]
  • 3. Select Transactions - [389]
    • A. Accounting Changes and Error Corrections - [55]
    • B. Contingencies and Commitments - [35]
    • C. Revenue Recognition - [87]
    • D. Accounting for income taxes - [98]
    • E. Fair Value Measurements - [36]
    • F. Lessee Accounting - [70]
    • G. Subsequent Events - [8]
  • FAR-1. Fundamentals of Accounting & Conceptual Framework - [37]
  • FAR-2. Income Statement and Statement of Comprehensive Income - [77]
  • FAR-3. Balance Sheet - [17]
  • FAR-4. Statement of Cashflows - [69]
  • FAR-5. Statement of Changes in Stockholders’ Equity - [7]
  • FAR-6. Notes to Accounts - [31]
  • FAR-7. SEC Reporting Requirements - [32]
  • FAR-8. Earnings Per Share - [42]
  • FAR-9. Ratio Analysis - [54]
  • FAR-10. Revenue & Expense - [87]
    • A. Revenue and Expense Recognition - [55]
    • B. Accrual & Deferral - [16]
    • C. Accounting for Long-Term Contracts - [16]
  • FAR-11. Foreign Currency Transactions - [17]
  • FAR-12. Accounting Changes, Error Correction & Fair Value Measurement - [91]
    • A. Accounting Changes and Error Correction - [55]
    • B. Fair Value Measurement - [36]
  • FAR-13. Cash and Cash Equivalents & Bank Reconciliation Statement (BRS) - [26]
  • FAR-14. Accounts Receivable & Notes Receivable - [57]
    • A. Accounts Receivable & Notes Receivable - [56]
    • B. Financing Using Accounts Receivable and Notes Receivable - [1]
  • FAR-15. Inventory - [103]
  • FAR-16. Property Plant & Equipment (PPE) - [102]
  • FAR-17. Intangibles - [35]
  • FAR-18. Investment in Equity Securities - [43]
    • A. Fair Value Through Net Income (FVTNI) Method - [13]
    • B. Equity Method - [30]
  • FAR-19. Investment in Debt Securities - [33]
    • A. Trading Securities - [5]
    • B. Available-for-Sale (AFS) Securities - [8]
    • C. Held-to-Maturity (HTM) Securities - [13]
    • D. Transfers between Categories and Current Expected Credit Loss (CECL) Model - [7]
  • FAR-20. Business Consolidation and Combination - [101]
  • FAR-21. Current Liabilities & Contingencies - [108]
    • A. Current Liabilities - [73]
    • B. Contingencies - [35]
  • FAR-22. Bonds and Troubled Debt Restructuring - [112]
    • A. Bonds - [101]
    • B. Troubled Debt Restructuring - [11]
  • FAR-23. Income & Deferred Taxes - [98]
  • FAR-24. Lease Accounting - Lessee - [70]
  • FAR-25. Equity - [95]
  • FAR-26. Partnership Accounting - [27]
  • FAR-27. Special Purpose Frameworks - [27]
  • FAR-28. Not-for-Profit Accounting - [166]
  • FAR-29. Governmental Accounting - [98]
Study Session: FAR
Study Session

You can select the number of SIMS you would like to answer. Make your choice, and then your study session will begin once you click "Start SIMS."

Study Session: FAR
  • SIM Title
  • NINJA Chapter
  • FAR-1. Fundamentals of Accounting & Conceptual Framework - [4]
  • FAR-2. Income Statement and Statement of Comprehensive Income - [4]
  • FAR-3. Balance Sheet - [1]
  • FAR-4. Statement of Cashflows - [9]
  • FAR-5. Statement of Changes in Stockholders’ Equity - [0]
  • FAR-6. Notes to Accounts - [0]
  • FAR-7. SEC Reporting Requirements - [1]
  • FAR-8. Earnings Per Share - [5]
  • FAR-9. Ratio Analysis - [4]
  • FAR-10. Revenue & Expense - [4]
    • A. Revenue and Expense Recognition - [0]
    • B. Accrual & Deferral - [1]
    • C. Accounting for Long-Term Contracts - [3]
  • FAR-11. Foreign Currency Transactions - [0]
  • FAR-12. Accounting Changes, Error Correction & Fair Value Measurement - [3]
    • A. Accounting Changes and Error Correction - [3]
    • B. Fair Value Measurement - [0]
  • FAR-13. Cash and Cash Equivalents & Bank Reconciliation Statement (BRS) - [1]
  • FAR-14. Accounts Receivable & Notes Receivable - [7]
    • A. Accounts Receivable & Notes Receivable - [5]
    • B. Financing Using Accounts Receivable and Notes Receivable - [2]
  • FAR-15. Inventory - [4]
  • FAR-16. Property Plant & Equipment (PPE) - [15]
  • FAR-17. Intangibles - [3]
  • FAR-18. Investment in Equity Securities - [1]
    • A. Fair Value Through Net Income (FVTNI) Method - [1]
    • B. Equity Method - [0]
  • FAR-19. Investment in Debt Securities - [6]
    • A. Trading Securities - [0]
    • B. Available-for-Sale (AFS) Securities - [0]
    • C. Held-to-Maturity (HTM) Securities - [6]
    • D. Transfers between Categories and Current Expected Credit Loss (CECL) Model - [0]
  • FAR-20. Business Consolidation and Combination - [6]
  • FAR-21. Current Liabilities & Contingencies - [5]
    • A. Current Liabilities - [2]
    • B. Contingencies - [3]
  • FAR-22. Bonds and Troubled Debt Restructuring - [7]
    • A. Bonds - [7]
    • B. Troubled Debt Restructuring - [0]
  • FAR-23. Income & Deferred Taxes - [4]
  • FAR-24. Lease Accounting - Lessee - [3]
  • FAR-25. Equity - [5]
  • FAR-26. Partnership Accounting - [1]
  • FAR-27. Special Purpose Frameworks - [0]
  • FAR-28. Not-for-Profit Accounting - [5]
  • FAR-29. Governmental Accounting - [0]

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Start Practice Exam

The Practice Exam for CPA FAR has a 4-hour time limit and is broken into 2 sections:

Section 1 consists of 2 Testlets with a total of 50 MCQ Questions.
Section 2 consists of 7 Task-Based SIMS.

Note: After you exit each Section, Testlet, or Task-Based SIM, you cannot return to review or change your answers.

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Blueprint
  • 1. Financial Reporting - [767]
    • A. General-Purpose Financial Reporting: For-Profit Business Entities - [348]
      • i. Fundamentals of Accounting & Conceptual Framework - [37]
      • ii. Balance Sheet/Statement of Financial Position - [17]
      • iii. Income Statement/Statement of Profit or Loss and Statement of Comprehensive Income - [94]
      • iv. Statement of Changes in Equity - [7]
      • v. Statement of Cash Flows - [69]
      • vi. Consolidated Financial Statements (including Wholly-Owned Subsidiaries and Non-Controlling Interests... - [101]
      • vii. Notes to financial statements - [23]
    • B. General-Purpose Financial Reporting: Nongovernmental Not-for-Profit Entities - [166]
    • C. State and Local Government Concepts - [98]
    • D. Public Company Reporting Topics - [74]
    • E. Special Purpose Frameworks - [27]
    • F. Financial Statement Ratios and Performance Metrics - [54]
  • 2. Select Balance Sheet Accounts - [706]
    • A. Cash and Cash Equivalents - [26]
    • B. Trade Receivables - [57]
    • C. Inventory - [103]
    • D. Property, Plant and Equipment - [102]
    • E. Investments - [76]
      • i. Financial Assets at Fair Value - [33]
      • ii. Financial Assets at Amortized Cost - [13]
      • iii. Equity Method Investments - [30]
    • F. Intangible Assets - [35]
    • G. Payables and Accrued Liabilities - [73]
    • H. Debt (Financial Liabilities) - [112]
      • i. Notes and Bonds Payable - [101]
      • ii. Debt Covenant Compliance - [11]
    • I. Equity - [122]
  • 3. Select Transactions - [389]
    • A. Accounting Changes and Error Corrections - [55]
    • B. Contingencies and Commitments - [35]
    • C. Revenue Recognition - [87]
    • D. Accounting for income taxes - [98]
    • E. Fair Value Measurements - [36]
    • F. Lessee Accounting - [70]
    • G. Subsequent Events - [8]

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Explanation of Evaluation and RECON Phases

Evaluation Phase
When you are in this phase, 15% out of the total questions in the course will be presented to you from the various Blueprint areas. As you answer the MCQ in this phase, the system is learning what you do and do not know well. This will then inform the system how best to present MCQ to you in the RECON phase.

RECON Phase
After completion of the Evaluation Phase, the RECON Phase and its progress bar will be enabled. During this phase, you will be presented with MCQ using our proprietary algorithm that is designed for your optimal retention of the study material. The RECON progress bar will reflect the percentage of correctly answered questions out of the total questions present in the course. This takes into account all of your attempts during the entire RECON Phase.

Explanations for Overall % and Weighted Average

Overall %:
Your Overall % reflects the percentage of questions you have answered for all of the questions you have attempted. This means that if you answered a total of 10 questions, with 5 being correct, your Overall % would be 50%.

Weighted Average:
The AICPA weighs Blueprint categories based on the amount of questions that will be on the exam from those various categories. For example, Category 1 may be weighted at 35% while Category 2 is weighted at 15%. This means that there will be more questions on the exam from Category 1 than Category 2. Your Weighted Score takes into account both your correct/incorrect responses to the MCQ as well as the Weightage of the categories for those questions.

Explanations for Overall % and Trending Score

Overall %:
Your Overall % reflects the percentage of questions you have answered for all of the questions you have attempted. This means that if you answered a total of 10 questions, with 5 being correct, your Overall % would be 50%

Trending Score:
Your Trending Score is calculated based on your most recent 250 MCQ attempts. The Trending Score calculation also takes into consideration the Weighted Average for each AICPA Blueprint area.

Important Note:
NINJA MCQ is designed in a way so that you should aim for a Trending Score between 80-85% for each Blueprint area and its associated subcategories. The software is adaptive in that it will feed you questions in a specific order for best retention, all based on what it has "learned" from your prior correct and incorrect answers. To improve your Trending Score in any one category or subcategory, select "By Topic" and then make your category/subcategory selection.

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