CPA FR : Financial Reporting

FR real exams

Exam Code: FR

Exam Name: Financial Reporting

Updated: Sep 09, 2026

Q & A: 80 Questions and Answers

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CPA FR Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Select Transactions25–35- Revenue Recognition (ASC 606)
- Leases (ASC 842)
- Business Combinations and Consolidations
- Accounting Changes and Error Corrections
- Derivatives, Hedging, and Foreign Currency
- Income Taxes (ASC 740)
Topic 2: Financial Reporting30–40- General-Purpose Financial Statements – For-Profit Entities
- Conceptual Framework and Standard-Setting
- State and Local Governmental Accounting
- Financial Statement Analysis and Ratios
- Public Company Reporting and SEC Requirements
- General-Purpose Financial Statements – Not-for-Profit Entities
Topic 3: Select Balance Sheet Accounts30–40- Intangible Assets and Goodwill
- Liabilities, Debt, and Equity
- Fair Value Measurements
- Inventory and Property, Plant & Equipment
- Cash, Receivables, and Investments

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