Understanding the CPA FAR Syllabus is one of the most important steps for any CPA (Certified Public Accountant) aspirant. FAR, which stands for Financial Accounting & Reporting, is widely considered the most comprehensive and concept-heavy section of the CPA Exam. It covers everything from the conceptual framework of accounting to complex financial statements, government accounting, and NFP (Not-for-Profit) reporting. For many students, FAR becomes the foundation upon which the rest of the CPA preparation is built. In this extensive blog, curated with expert insights from FinTram Global, we break down the entire CPA FAR Syllabus in a detailed, student-friendly, and exam-oriented manner.

This long-form blog description will guide you through every essential component of the FAR curriculum, explain the major topics, highlight exam weightages, and share expert preparation strategies recommended by FinTram Global's CPA mentors. Whether you are just beginning your CPA journey or gearing up specifically for the FAR examination, this blog will help you understand how to approach the syllabus effectively, save time, and maximize your score.

Why the CPA FAR Syllabus Matters So Much

FAR is the only CPA exam section that focuses entirely on accounting and reporting concepts. It tests your ability to understand, evaluate, analyze, and apply accounting standards in both common and complex scenarios. As FAR covers U.S. GAAP, governmental accounting, and NFP reporting — its depth and technicality make it a core part of the CPA curriculum.

Most multinational firms, especially Big 4s, prefer candidates with strong CPA FAR scores because it reflects their proficiency in financial reporting, one of the most critical functions in global finance.

This is exactly why understanding the CPA FAR Syllabus thoroughly is essential — and why FinTram Global emphasizes building strong conceptual clarity in this domain.

Complete Breakdown of the CPA FAR Syllabus

The FAR syllabus is structured into four major content areas, each representing a specific percentage of exam weightage. These include:

1. Conceptual Framework, Standard-Setting, and Financial Reporting (25–35%)

This section introduces the core structure of accounting standards in the United States. It includes:

• FASB Conceptual Framework

• Presentation of Financial Statements

• Notes to Financial Statements

• Revenue Recognition

• Fair Value Measurements

• Development of Accounting Standards

• SEC Reporting Requirements

These topics form the backbone of financial reporting principles, and students must understand the reasoning behind accounting judgments.

2. Select Financial Statement Accounts (30–40%)

This is one of the most detailed modules in the CPA FAR Syllabus. It includes:

• Cash and Cash Equivalents

• Receivables

• Inventory and Cost Flow Assumptions

• Property, Plant, and Equipment

• Intangibles

• Investments

• Leases

• Income Taxes

• Bonds, Notes, and Other Liabilities

• Contingencies

• Payroll Accounting

The focus here is on the calculation, recognition, and measurement principles used in preparing financial statements.

FinTram Global’s learning approach makes this section simpler by connecting concepts to real-world examples and exam-oriented problem-solving.

3. Select Transactions (20–30%)

This third content area evaluates your understanding of specialized transactions that often appear in advanced accounting:

• Business Combinations

• Consolidated Financial Statements

• Foreign Currency Transactions

• Derivatives and Hedge Accounting

• Share-Based Compensation

• Pension and Post-Retirement Benefits

• Troubled Debt Restructuring

This module is highly application-oriented. FinTram Global helps students master these topics using visual explanations, flowcharts, and scenario-based examples, which significantly cut down the learning curve.

4. Governmental & Not-for-Profit Accounting (10–20%)

Government accounting is unique to the United States and follows its own set of standards under GASB. The syllabus includes:

• Fund Accounting

• Governmental Financial Statements

• Budgetary Accounting

• Revenue Recognition & Measurement

• Not-for-Profit Accounting Standards

• NFP Financial Statements

Many students find this section tricky due to its unfamiliar structure. FinTram Global simplifies it with concept-based teaching, practice questions, and easy-to-remember frameworks.