CPA Financial Accounting and Reporting (FAR)

Certified Public Accountant Financial Accounting and Reporting examination.

Conceptual Framework and Standard SettingFinancial Statements and DisclosuresRevenue Recognition
LeasesFinancial Instruments and Fair Value MeasurementBusiness Combinations and Consolidations
Analyzing Real-World Financial StatementsPreparing Adjusting and Closing EntriesApplying GAAP to New Business Transactions
Mastering Multiple-Choice QuestionsSimulations and Task-Based Testlets
Conceptual Framework...Financial Statements...Revenue RecognitionLeasesFinancial Instrument...Business Combination...Analyzing Real-World...Preparing Adjusting ...Applying GAAP to New...Mastering Multiple-C...Simulations and Task...
Study Strategies

Simulations and Task-Based Testlets

Approaching Simulations with Confidence

Task-based simulations are like mini case studies. Carefully read the scenario, organize your thoughts, and answer step by step. Use provided resources, such as the authoritative literature tool, and double-check your work before submitting.

Strategies

  • Break down complex problems into smaller tasks
  • Use the research tab for tricky sections
  • Manage your time so you don't get stuck on one simulation

Examples

  • Outline your response before filling in answers to ensure nothing is missed.

  • Use the authoritative literature tool to confirm the correct accounting standard.