The CPA FAR, Financial Accounting and Reporting Exam strives to ensure that candidates meet the necessary skill and knowledge requirements to perform their work in a way that protects the public interest while working within the laws and regulations. The FAR Exam covers financial statements, transactions and related events, and accounting and reporting for governmental entities, non-governmental entities and not-for-profit organizations.
Total Number of Questions: 1594
Explanation Videos: 701
Conceptual Framework, Standard-Setting and Financial Reporting
- Conceptual framework and standard-setting
- General-purpose financial statements: for-profit business entities
- General-purpose financial statements: nongovernmental, not-for-profit entities
- Public company reporting topics
- Financial statements of employee benefit plans
- Special purpose frameworks
Select Financial Statement Accounts
- Cash and cash equivalents
- Trade receivables
- Property, plant and equipment
- Intangible assets
- Payables and accrued liabilities
- Long-term debt
- Revenue recognition
- Compensation and benefits
- Income taxes
- Accounting changes and error corrections
- Business combinations
- Contingencies and commitments
- Derivatives and hedge accounting
- Foreign currency transactions and translation
- Nonreciprocal transfers
- Research and development costs
- Software costs
- Subsequent events
- Fair value measurements
- Differences between IFRS and U.S. GAAP
State and Local Governments
- State and local government concepts
- Format and content of the Comprehensive Annual Financial Report (CAFR)
- Deriving government-wide financial statements and reconciliation requirements
- Typical items and specific types of transactions and events in governmental entity financial statements
- Planning techniques
What is Lambers CPA Enhanced Test Prep?
Lambers CPA Review was started by Vincent W. Lambers in July of 1966 in Boston, MA. The first class had six students and from that point the program grew to be the largest live instruction CPA Review program in New England. The Lambers teaching method of illustrations, examples and working problems has helped over 250,000 candidates pass the CPA Exam since that first class in 1966.
Lambers now delivers that same successful teaching style to the exam candidate online and on-demand.
The Lambers CPA Test Prep is best in class preparation through our exclusive three mode testing methodology.
Start with Pre-Test Mode where we will establish a baseline assessment of your knowledge in each AICPA objective category and identify area’s you are weak or strong in.
From there, go to the Adaptive Mode and drill yourself in each objective category over and over until your weaknesses start becoming strengths. All questions contain detailed explanations, and a lot of the explanations link to a video explanation, providing you with a more thorough explanation of the problem or theory. In a lot of cases, we will take you step by step through some of the more lengthy and challenging problems and equations.
Once you are scoring high in Adaptive Mode, it’s time to move to Simulated Mode where we will mimic the real exam you take on test day. Timed, no notes or show answers help. No links to explanations or video’s walking you through the answers.
If you follow our program and are able to pass our simulated exams, you will pass the real exam. We Guarantee it.
We track you each step of the way. We’ll let you know exactly which area’s to focus on, we’ll let you know when you’ve mastered those areas and we’ll let you know when you are ready to sit for the real exam.
You will not find more accurate content. There’s a right answer, a wrong answer, and then there is the AICPA answer. We prepare you for the exam so there are no surprises on test day. We teach you and prepare you the way the AICPA wants you prepared.
Our method works. There is not a more effective way to prepare for the CPA exams. We don’t offer 10,000 questions. That’s by design. You don’t need to, and you aren’t going to go through 10,000+ practice questions. What we do instead is focus on exactly what you need to know to pass the exam. Then we make sure you know it, know how to apply it and are going to be successful on test day.
Our test prep is the prefect compliment to whatever course material you are currently using. Think of us as your “finishing tool”
The Lambers Test Prep software will be the best and last investment you will ever make. If you want to use the best test prep software available; and you do deserve the best, Lambers is the smart choice.