what does the financial accounting and reporting exam include?

FAR (Financial Accounting & Reporting), that is, financial accounting and reporting, is an examination subject in CPA examination. The content of the examination is subject to US GAAP, including the introduction, standards and applications of financial accounting applicable to general enterprises, but not to public institutions and government departments. CPA candidates need to master the following points:

preparing financial statements (reflecting ledgers and data presentation methods in financial statements)

mastering various methods of financial accounting and reporting

business calculation (such as funds)

being able to understand and analyze the contents reflected in financial statements

drawing their own conclusions from financial statements and survey results.