FAR study guide
Financial Accounting and Reporting, all sections
The Pattern Lab
Every FAR question is one of 27 patterns.
Mock exam
33 questions · exam conditions · full breakdown
Review queue
Spaced repetition, wrong answers resurface automatically
The Pattern Lab
NewEvery FAR question is one of a couple dozen recurring patterns. Learn to spot each one, run its playbook, and clear them all.
Task-based simulations
NewWork realistic FAR case studies, goodwill and noncontrolling interest, bond amortization, with exhibits and auto-graded answers.
Study modes
Skip to what you need, MCQs only or simulations only.
MCQ blitz mode
Jump straight to practice questions. Skip the lesson, just drill MCQs across all topics.
Section 1
Financial Reporting
30–40% of the FAR exam
Covers general-purpose financial statements for for-profit entities, not-for-profit entities, state and local governments, public companies, and performance metrics.
1A - General-Purpose Financial Reporting: For-Profit Business Entities
7 subtopics
1B - General-Purpose Financial Reporting: Nongovernmental Not-For-Profit Entities
4 subtopics
1C - State and Local Government Concepts
2 subtopics
1D - Public Company Reporting Topics
Available
1E - Special Purpose Frameworks
Available
1F - Financial Statement Ratios and Performance Metrics
Available
Section 2
Select Balance Sheet Accounts
30–40% of the FAR exam
Covers the accounting treatment for key balance sheet items: cash, receivables, inventory, PP&E, investments, intangibles, liabilities, and equity.
2A - Cash and Cash Equivalents
Available
2B - Trade Receivables
Available
2C - Inventory
Available
2D - Property, Plant, and Equipment
Available
2E - Investments
3 subtopics
2F - Intangible Assets
Available
2G - Payables and Accrued Liabilities
Available
2H - Long-Term Debt (Financial Liabilities)
Available
2I - Equity
Available
Section 3
Select Transactions
25–35% of the FAR exam
Covers specific accounting transactions: revenue recognition, lease accounting, income taxes, fair value, contingencies, and more.