FAR (Financial Accounting and Reporting) is a compulsory Core section of the Uniform CPA Examination. Every CPA candidate must pass FAR, AUD, and REG, plus one Discipline: BAR, ISC, or TCP.

What does FAR stand for?

FAR stands for Financial Accounting and Reporting.

What does CPA FAR cover?

The current FAR Blueprint covers three main areas:Financial Reporting – 30% to 40%Select Balance Sheet Accounts – 30% to 40%Select Transactions – 25% to 35%

How long is the CPA FAR exam?

The FAR examination is four hours.

How many questions are in CPA FAR?

Candidates complete:50 Multiple-Choice Questions7 Task-Based Simulations

How are the 50 FAR MCQs divided?

The examination has:Testlet 1 – 25 MCQsTestlet 2 – 25 MCQsfollowed by three Task-Based Simulation testlets.

What is the FAR passing score?

Candidates need a minimum scaled score of 75.

No. CPA scores are scaled, so a score of 75 does not mean exactly 75% of questions were answered correctly.

Is CPA FAR difficult?

FAR is considered technically demanding because a substantial proportion of the examination tests Application and Analysis rather than simple recall. Candidates need strong accounting concepts together with extensive MCQ and TBS practice.

Is US GAAP important for CPA FAR?

Yes. FAR requires extensive understanding and application of U.S. financial accounting and reporting principles.

Does FAR include government accounting?

Yes. FAR includes foundational state and local government accounting concepts as part of its current examination coverage.

Does FAR include not-for-profit accounting?

Yes. Financial reporting for nongovernmental not-for-profit entities forms part of FAR.

Does FAR include journal entries?

Journal-entry knowledge is extremely important because candidates must understand recognition, measurement and the financial statement effect of transactions.

What are FAR Task-Based Simulations?

TBSs are practical examination tasks requiring candidates to apply accounting knowledge to realistic scenarios, documents, calculations and accounting records.

Can I take FAR before AUD?

Yes. CPA candidates are generally free to take the examination sections in the order they prefer, subject to their jurisdiction and examination eligibility.

Is FAR a good CPA section to take first?

For candidates with a strong accounting background, FAR can be an effective first section because it establishes financial accounting knowledge that can also support preparation for other sections.

Can international students take CPA FAR?

Yes, provided they satisfy the eligibility requirements of an appropriate U.S. CPA jurisdiction and receive the required examination authorisation.

Can I take CPA FAR in Dubai?

Eligible international CPA candidates can currently take the CPA Exam in the United Arab Emirates, subject to jurisdictional participation and Prometric availability.

Can I take CPA FAR in Saudi Arabia?

Yes. Saudi Arabia is currently an international CPA Exam testing location, subject to eligibility and scheduling availability.

Can I take CPA FAR in the UK?

International CPA Exam testing is currently available in England and Scotland, subject to applicable eligibility requirements.

What does CPA FAR with Musa Shaikh include?

CPA FAR preparation covers the complete syllabus through instructor-led lectures on US GAAP and financial reporting, supported by numerical and journal-entry practice, MCQs, Task-Based Simulations, revision, exam techniques, mock examinations, and performance feedback.

Does completing CPA FAR with Musa Shaikh make me a CPA?

No. The program provides CPA FAR exam preparation and an applicable Berkeley course completion certificate. To become a licensed CPA, candidates must meet all examination and licensure requirements of their selected U.S. jurisdiction.

BERKELEY SCHOOL OF BUSINESS, ARTS & SCIENCES - CPA FAR with Musa Shaikh

Overview

CPA FAR (Financial Accounting and Reporting) develops the accounting and reporting skills required of newly licensed CPAs, covering US GAAP, financial statements, journal entries, accounting calculations, not-for-profit reporting, and selected governmental accounting. Preparation combines MCQs, Task-Based Simulations, practical data analysis, revision, and mock exams, helping candidates identify accounting issues, apply the correct treatment, calculate accurately, and determine the reporting impact.

Offered by

The Uniform CPA Examination is developed by the AICPA and administered with NASBA on behalf of U.S. Boards of Accountancy. CPA licenses are issued by the relevant state or jurisdictional Board of Accountancy.

Head office

Members

The Association of International Certified Professional Accountants, representing AICPA and CIMA, connects approximately 597,000 accounting and finance professionals, candidates, and registrants across 188 countries and territories.

Founded In

Founded in 1887, the AICPA has played a central role in advancing accounting standards, professional education, and the Uniform CPA Examination.

Vision & Mission

Our vision for CPA FAR with Musa Shaikh is to transform accounting knowledge into the analytical and application skills needed for the FAR exam. The program focuses on US GAAP, financial reporting, calculations, journal entries, professional judgement, TBSs, exam techniques, and time management, helping candidates apply accounting principles confidently under exam conditions.

What is the eligibility?

FAR is a compulsory Core section of the Uniform CPA Examination. Candidates must meet their selected U.S. jurisdiction’s eligibility requirements, which may include a degree, accounting and business credits, academic hours, and international credential evaluation. Eligible candidates generally receive an NTS before scheduling FAR through Prometric. Requirements vary by jurisdiction and should be confirmed with the relevant Board of Accountancy or NASBA.

Who can do?

anyone who is interested to learn about following concepts can pursue CPA FAR with Musa Shaikh:

FAR is especially valuable for professionals working with financial statements, US GAAP, accounting operations, reporting, audit and financial control..

individuals with the following designations:

CPA Candidates, Accounting Graduates, Finance Graduates, B.Com Graduates, ACCA Students and Members, Chartered Accountants, CMA Professionals, CIMA Professionals, Accountants, Senior Accountants, Financial Accountants, Financial Analysts, Auditors, Audit Professionals, Finance Managers, Accounting Managers, Financial Controllers, Finance Directors, CFO-track Professionals.

Course Structure

The current CPA FAR Blueprint divides the examination into three major content areas.

Module 1: Area I: Financial Reporting – 30% to 40%

This area develops the ability to prepare, understand and analyse financial statements and financial reporting information.

Candidates study:

General-purpose financial statements

Balance Sheet

Income Statement

Statement of Comprehensive Income

Statement of Changes in Equity

Statement of Cash Flows

Financial statement presentation

Financial statement disclosures

Accounting policies

Consolidated financial statements

Special purpose frameworks

Financial reporting for for-profit entities

Not-for-profit financial statements

State and local government accounting concepts

Financial reporting relationships

Adjusting and correcting entries

Module 2: Area II: Select Balance Sheet Accounts – 30% to 40%

This section focuses on recognition, measurement, presentation and accounting treatment for major balance sheet accounts.

Candidates develop knowledge across:

Cash and Cash Equivalents

Trade Receivables

Inventory

Property, Plant and Equipment

Investments

Intangible Assets

Payables and Accrued Liabilities

Long-Term Debt

Equity

Module 3: Area III: Select Transactions – 25% to 35%

The final FAR content area focuses on important accounting transactions and events that frequently require judgement, calculations and detailed application of accounting principles.

Candidates study:

Accounting Changes and Error Corrections

Contingencies and Commitments

Revenue Recognition

Accounting for Income Taxes

Fair Value Measurements

Lessee Accounting

Subsequent Events

Lecture plan

CPA FAR with Musa Shaikh | Financial Accounting and Reporting Exam Preparation consists of 15 focused teaching lectures.

Session 1: Financial Accounting Foundations

Financial Accounting Foundations (1)

U.S. GAAP, conceptual framework, standard-setting, elements of financial statements, recognition, measurement and accounting cycle

Session 2: Accounting Records and Adjustments

Accounting Records and Adjustments (1)

Journal entries, ledgers, trial balance, adjusting entries, closing entries, correcting entries and financial statement preparation

Session 3: Financial Statements and Disclosures

Financial Statements and Disclosures (1)

Balance sheet, income statement, comprehensive income, statement of changes in equity, notes and special-purpose frameworks

Session 4: Cash Flows, Earnings per Share and Financial Analysis

Cash Flows, Earnings per Share and Financial Analysis (1)

Statement of cash flows, direct and indirect methods, basic EPS, diluted EPS and financial ratios

Session 5: Not-for-Profit and Governmental Accounting

Not-for-Profit and Governmental Accounting (1)

Not-for-profit financial statements, net asset classifications, contributions, government measurement focus, accounting bases and fund types

Session 6: Cash and Trade Receivables

Cash and Trade Receivables (1)

Cash classification, bank reconciliation, restricted cash, accounts receivable, notes receivable, credit losses and factoring

Session 7: Inventory Accounting

Inventory Accounting (1)

Inventory systems, cost-flow assumptions, lower-of-cost-and-net-realizable-value, estimation methods, errors and measurement issues

Session 8: Property, Plant and Equipment

Property, Plant and Equipment (1)

Acquisition, capitalisation, depreciation, disposals, impairment, asset retirement obligations and nonmonetary exchanges

Session 9: Investments and Intangible Assets

Investments and Intangible Assets (1)

Debt securities, equity securities, amortised cost, fair value, equity method, finite-lived intangibles, amortisation and impairment

Session 10: Payables and Accrued Liabilities

Payables and Accrued Liabilities (1)

Accounts payable, accrued expenses, payroll liabilities, compensated absences, warranties and current liability presentation

Session 11: Long-Term Debt

Long-Term Debt (1)

Notes payable, bonds, discounts and premiums, effective-interest method, debt issuance costs, extinguishment and covenant calculations

Session 12: Equity Transactions

Equity Transactions (1)

Share issuance, preferred and common shares, treasury stock, dividends, stock splits, retained earnings and statement of shareholders’ equity

Session 13: Revenue Recognition

Revenue Recognition (1)

Five-step revenue model, performance obligations, transaction price, contract modifications, principal-versus-agent issues and not-for-profit contributions

Session 14: Leases, Income Taxes and Fair Value

Leases, Income Taxes and Fair Value (1)

Lessee accounting, operating and finance leases, deferred tax assets and liabilities, valuation allowances and fair-value hierarchy

Session 15: Accounting Changes, Contingencies and Final Exam Practice

Accounting Changes, Contingencies and Final Exam Practice (1)

Changes in principles and estimates, error corrections, contingencies, commitments, subsequent events, comprehensive revision and mock examination

Instructors

Musa Shaikh

An internationally recognized academic and executive educator known for his impact on professional development, higher education, and leadership training across the UAE, Saudi Arabia, the UK, and the USA. With a distinguished career in academia and industry, he has taught and mentored thousands of students and executives, shaping future financial leaders and decision-makers.

View detailed profile

Learning Methodology

The FAR learning methodology combines AICPA Blueprint-aligned technical teaching with focused numerical and exam practice. Candidates develop conceptual understanding, journal-entry accuracy, and practical application across financial reporting, inventory, fixed assets, bonds, investments, leases, income taxes, revenue, equity, and cash flows, using realistic documents and scenarios. Study is strategically prioritised based on syllabus weighting and individual performance.

Lectures

Instructor-led lectures with Musa Shaikh take candidates from core FAR concepts to exam application through structured lessons on accounting rules, recognition, measurement, calculations, journal entries, financial statement impact, MCQs, and Task-Based Simulations.

Practice Session

FAR practice covers MCQs, numerical problems, journal entries, reconciliations, financial statements, adjusting entries, and error corrections. Task-Based Simulation practice uses realistic exhibits to help candidates identify relevant information and apply the correct accounting treatment.

Mock Examination

Mock examinations assess FAR readiness across accounting, calculations, journal entries, MCQs, TBSs, time management, and question interpretation. Results guide targeted final revision toward areas with the greatest potential to improve exam performance.

Berkeley's Performance Standards

Berkeley ensures effective FAR preparation through experienced instruction, current AICPA Blueprint coverage, quality study materials, numerical practice, MCQs, TBSs, mock exams, candidate feedback, student interaction, and ongoing academic progress monitoring.

What Are the CPA FAR Exam Information?

FAR Content Weighting

FAR Content Area	Exam Weight
Financial Reporting	30%–40%
Select Balance Sheet Accounts	30%–40%
Select Transactions	25%–35%

This weighting helps candidates prioritise study and practice according to the current CPA Exam Blueprint.

FAR Skill Levels

FAR is not primarily a memorisation exam. Candidates must apply and analyse accounting information, with approximately 5%–15% focused on remembering and understanding, 45%–55% on application, and 35%–45% on analysis. Effective preparation therefore develops the ability to calculate, reconcile, prepare, adjust, analyse, interpret, apply, and correct financial information under exam conditions.

exam dates

CPA FAR (Financial Accounting and Reporting) is a four-hour computer-based Core examination featuring 50 MCQs and 7 Task-Based Simulations, with each format weighted 50%. A passing score is 75, and the exam is delivered through Prometric.

CPA FAR Exam Format

CPA FAR consists of five testlets with 50 Multiple-Choice Questions (MCQs) and 7 Task-Based Simulations (TBSs), completed within 4 hours. A standard 15-minute break is available approximately midway through the exam and does not count toward testing time when taken at the designated point.

Passing Criteria

CPA FAR scores are reported on a 0–99 scaled score, with 75 as the minimum passing score. A score of 75 does not represent 75% correct answers because the CPA Exam uses AICPA scaled scoring.

FAR Exam Dates

FAR is available under continuous testing, allowing eligible candidates to schedule throughout the year, subject to a valid NTS, Prometric availability, and jurisdictional requirements.

International FAR Exam Locations

Eligible international CPA candidates can sit FAR at authorised international Prometric locations. Availability remains subject to CPA jurisdiction participation and Prometric scheduling. Current international CPA Exam markets include:

England

Scotland

United Arab Emirates

Saudi Arabia

Bahrain

Kuwait

Jordan

Egypt

India

Ireland

Germany

Japan

South Korea

Philippines

Brazil

and other approved locations

Fee Structure

Self-Study Program with Musa Shaikh

USD 700.00

Financial Accounting and Reporting

E-book for the CPA FAR with Musa Shaikh
Recorded video lectures by Musa Shaikh
Berkeley flashcards
Exam-quality practice questions
18 months of course access

Live Online Batch Training with Musa Shaikh

USD 900.00

Financial Accounting and Reporting

E-book for the CPA FAR with Musa Shaikh
Live interactive classes with Musa Shaikh
Berkeley flashcards
Structured lecture sessions
Guided practice sessions
Mock examinations
Live teaching and question support
Exam-focused preparation
18 months of course access

Private Live One-to-One Online Training with Musa Shaikh

USD 1,000.00

Financial Accounting and Reporting

E-book for the CPA FAR with Musa Shaikh
Private live classes with Musa Shaikh
Berkeley flashcards
Structured lecture sessions
Guided practice sessions
Mock examination
Live teaching and question support

Private Live One-to-One Face-to-Face Training with Musa Shaikh

USD 3,000.00

Financial Accounting and Reporting

E-book for the CPA FAR with Musa Shaikh
Private live classes with Musa Shaikh
Berkeley flashcards
Personalised lecture plan
Guided practice sessions
Mock examination
Individual attention and customised pace
Direct academic support and supervision

Success Stories

“As a strong advocate for education and human development, I commend Berkeley for its exceptional commitment to empowering future leaders. The institution stands as a symbol of excellence, innovation, and opportunity. Students who walk its halls are nurtured with knowledge, values, and vision—qualities that contribute to building a stronger and more prosperous future for our nation.”- H.H. Shaikh Khalifa Al Hamid

Visit our Alumni

Alumni Benefits
‣ Exclusive Networking Events: Access invitations to industry-leading events and thought-leadership gatherings featuring renowned speakers.

‣ Monthly Updates: Stay informed with a newsletter highlighting the latest research, events, and activities from the school.

‣ LinkedIn Community Access: Join the Executive Education LinkedIn group for networking and professional development opportunities.

‣ Educational Discounts: Enjoy a 20% discount on open-enrollment programs and access to workshops focused on emerging trends.

‣ Global Alumni Network: Connect with a diverse alumni community through the Berkeley School’s online network and engage in country and interest groups.

Is It Worth the Investment?

FAR develops practical accounting expertise in US GAAP, financial statements, revenue, assets, liabilities, equity, leases, income taxes, cash flows, transactions, and not-for-profit reporting. These skills are valuable across accounting firms, multinational organisations, corporate finance teams, and financial reporting roles.

What You Earn

Candidates completing CPA FAR with Musa Shaikh receive the applicable Berkeley course completion certificate, while passing FAR provides credit toward the Uniform CPA Examination.

Flexible Learning Experience

CPA FAR with Musa Shaikh provides flexible, structured preparation through instructor guidance, technical learning, question practice, revision, mock exams, and targeted feedback.

Exam-Focused Curriculum

The program focuses on FAR exam requirements, including Blueprint weightings, key topics, MCQ and TBS strategies, supporting exhibits, calculation accuracy, and four-hour time management.

Why Study CPA FAR with Musa Shaikh?

CPA FAR with Musa Shaikh combines AICPA Blueprint-aligned US GAAP instruction with numerical and journal-entry practice, MCQs, TBSs, revision, mock exams, and exam techniques to build accurate accounting application.

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