AICPA CPA-Financial Exam Syllabus
CPA Financial Accounting and Reporting
Total Questions: 163What is Included in the AICPA-Financial Exam?
Authentic information about the syllabus and an effective study guide is essential to go through the AICPA CPA-Financial exam in the first attempt. The study guide of Study4Exam provides you with comprehensive information about the syllabus of the AICPA CPA-Financial exam. You should get this information at the start of your preparation because it helps you make an effective study plan. We have designed this AICPA Certified Public Accountant certification exam preparation guide to give the exam overview, practice questions, practice test, prerequisites, and information about exam topics that help to go through the AICPA Financial Accounting and Reporting (2022) exam. We recommend you to the preparation material mentioned in this study guide to cover the entire AICPA CPA-Financial syllabus. Study4Exam offers 3 formats of AICPA CPA-Financial exam preparation material. Each format provides new practice questions in PDF format, web-based and desktop practice exams to get passing marks in the first attempt.
AICPA CPA-Financial Exam Overview :
Exam Name | CPA Financial Accounting and Reporting |
Exam Code | CPA-Financial |
Actual Exam Duration | 180 minutes |
Expected no. of Questions in Actual Exam | 120 |
Official Information | http://www.aicpa.org/BecomeACPA/CPAExam/ForCandidates/FAQ/Pages/computer_faqs_2.aspx |
See Expected Questions | AICPA CPA-Financial Expected Questions in Actual Exam |
Take Self-Assessment | Use AICPA CPA-Financial Practice Test to Assess your preparation - Save Time and Reduce Chances of Failure |
AICPA CPA-Financial Exam Topics :
Section | Weight | Objectives |
---|---|---|
Area I — Conceptual Framework, Standard-Setting and Financial Reporting | 25–35% | A. Conceptual framework and standard-setting for business and nonbusiness entities 1. Conceptual framework 2. Standard-setting process B. General-purpose financial statements: for-profit business entities 1. Balance sheet/ statement of financial position 2. Income statement/ statement of profit or loss 3. Statement of comprehensive income 4. Statement of changes in equity 5. Statement of cash flows 6. Notes to financial statements 7. Consolidated financial statements (including wholly owned subsidiaries and noncontrolling interests) C. General-purpose financial statements: nongovernmental, not-for-profit entities 1. Statement of financial position 2. Statement of activities 3. Statement of cash flows 4. Notes to financial statements D. Public company reporting topics (U.S. SEC reporting requirements, earnings per share and segment reporting) E. Financial statements of employee benefit plans F. Special purpose frameworks |
Area II — Select Financial Statement Accounts(30–40%) | 30–40% | A. Cash and cash equivalents B. Trade receivables C. Inventory D. Property, plant and equipment E. Investments 1. Financial assets at fair value 2. Financial assets at amortized cost 3. Equity method investments F. Intangible assets – goodwill and other G. Payables and accrued liabilities H. Long-term debt (financial liabilities) 1. Notes and bonds payable 2. Debt covenant compliance I. Equity J. Revenue recognition K. Stock compensation (share-based payments L. Income taxes |
Area III — Select Transactions | 20–30% | A. Accounting changes and error corrections B. Business combinations C. Contingencies and commitments D. Derivatives and hedge accounting (e.g., swaps. options, forwards) E. Foreign currency transactions and translation F. Leases G. Nonreciprocal transfers H. Research and development costs I. Software costs J. Subsequent events |
Area IV — State and Local Governments | 5-15% | A. State and local government concepts 1. Conceptual framework 2. Measurement focus and basis of accounting 3. Purpose of funds B. Format and content of the financial section of the comprehensive annual financial report (CAFR) 1. Government-wide financial statements 2. Governmental funds financial statements 3. Proprietary funds financial statements 4. Fiduciary funds financial statements 5. Notes to financial statements 6. Management’s discussion and analysis 7. Budgetary comparison reporting 8. Required supplementary information (RSI) other than management’s discussion and analysis 9. Financial reporting entity, including blended and discrete component units C. Deriving government-wide financial statements and reconciliation requirements D. Typical items and specific types of transactions and events: measurement, valuation, calculation and presentation in governmental entity financial statements 1. Net position and components thereof 2. Fund balances and components thereof 3. Capital assets and infrastructure assets 4. General and proprietary long-term liabilities 5. Interfund activity, including transfers 6. Nonexchange revenue transactions 7. Expenditures and expenses 8. Special items 9. Budgetary accounting and encumbrances 10. Other financing sources and uses |
Updates in the AICPA-Financial Exam Syllabus:
AICPA CPA-Financial exam questions and practice test are the best ways to get fully prepared. Study4exam's trusted preparation material consists of both practice questions and practice test. To pass the actual Certified Public Accountant CPA-Financial exam on the first attempt, you need to put in hard work on these AICPA CPA-Financial questions that provide updated information about the entire exam syllabus. Besides studying actual questions, you should take the AICPA CPA-Financial practice test for self-assessment and actual exam simulation. Revise actual exam questions and remove your mistakes with the CPA Financial Accounting and Reporting CPA-Financial exam practice test. Online and windows-based formats of the CPA-Financial exam practice test are available for self-assessment.

- 50000+ Customers feedbacks involved in Products
- Customize your exam based on your objectives
- User-Friendly interface
- Exam History and Progress reports
- Self-Assessment Features
- Various Learning Modes