A helpful and powerful study aid for the FAR-CPA exam
Wiley's CPA Jan 2022 Focus Notes: Financial Accounting and Reporting is an irreplaceable study aid for all students preparing for the 2022 Financial Accounting and Reporting (FAR) portion of the Certified Public Accountants series of exams.
These Focus Notes offer information-rich, flashcard-style pages full of must-know concepts that are perfect for exam prep. Every topic and domain covered by the exam is explored in these notes, including:
- Conceptual Framework, Standard-Setting, and Financial Reporting
- Select Financial Statement Accounts
- Select Transactions
- State and Local Governments
This hands-on resource offers students one of the most efficient and practical ways to improve their confidence before taking the challenging FAR-CPA exam.
Table of Contents
Preface vii
Financial Accounting Standards Board (FASB) 1
Fair Value Framework 16
General-Purpose Financial Statements 21
Public Company Reporting Topics (SEC, EPS, Interim, and Segment) 60
Financial Statements of Employee Benefit Plans 73
Special Purpose Frameworks 75
Cash and Cash Equivalents 78
Accounts Receivable - Accounting and Reporting 80
Inventory 92
Property, Plant, and Equipment 117
Nonmonetary Exchanges 131
Investments 138
Intangible Assets 149
Payables and Accrued Liabilities 163
Long-Term Debt (Financial Liabilities) 169
Equity 186
Revenue Recognition 203
Share-Based Payments 213
Income Taxes 217
Accounting Changes and Error Corrections 228
Business Combinations 235
Financial Instruments 238
Foreign Currency-Denominated Transactions 245
Leases 249
Not-for-Profit Organizations 270
Special Industries: Health Care and Colleges 285
State and Local Government Concepts 287
Format and Content of Comprehensive Annual Financial Report (CAFR) 313
Typical Items and Specific Types of Transactions and Events 335
Index 345
