CPA Financial Accounting and Reporting (FAR) Exam Prep 2025–2026 Study Guide

The Only FAR Prep Book That Teaches You to Think Like a CPA
This isn’t just another CPA review book. It’s your complete preparation system for mastering the FAR section and walking into exam day with clarity, skill, and confidence. Designed for candidates who want more than bullet points and memory tricks, this guide teaches you how to apply accounting standards, solve problems under pressure, and analyze questions like a CPA.
Covering every FAR topic tested by the AICPA—revenue recognition, leases, bonds, pensions, consolidations, governmental, and nonprofit accounting—you’ll get both the depth and structure needed to pass on your first try.
What Makes This FAR Study Guide Different?
✅ Updated for the 2025–2026 AICPA Blueprint
All topics and practice questions align with the current AICPA skill levels—remembering, understanding, application, and analysis—so you’ll be prepared for the actual exam format and difficulty.
✅ 500+ Exam-Level Practice Questions
Each question is realistic, scenario-based, and comes with a full explanation for both correct and incorrect answers—giving you insight into the examiner’s mindset and sharpening your judgment.
✅ 8 Task-Based Simulations
Go hands-on with simulations that cover revenue recognition schedules, lease classifications, consolidation worksheets, governmental journal entries, and more. Each includes walkthroughs, calculations, and guidance on how to approach complex, multi-step tasks.
✅ Step-by-Step Problem Solving Strategies
You'll learn how to break down questions using proven frameworks that help reduce errors, manage your time, and boost your confidence when solving tough problems.
✅ Master Journal Entries by Topic
Get a full appendix of the most testable journal entries by subject—leases, bonds, derivatives, equity, investments, and beyond—so you can easily review what matters most.
✅ Blueprint Crosswalk with Skill Level Mapping
Every concept, simulation, and practice set is matched to the AICPA Blueprint, showing you exactly which areas are being tested—and at what skill level.
✅ Quick Reference Formula Sheet + Glossary
Our appendices include a must-know formula sheet for quick review and a clear glossary of 150+ essential FAR terms, ideal for last-minute brushing up before exam day.
✅ Real-World Accounting Scenarios
Go beyond the exam with case-based examples that simulate real accounting and financial reporting challenges—giving you the mindset you need to perform well in your future career.
Built to Train You for More Than a Test
Whether you’re a first-time test taker or returning to FAR after a previous attempt, this guide is engineered to help you understand, apply, and retain. Instead of just drilling flashcards, you’ll learn how to connect concepts, evaluate scenarios, and solve problems the way licensed CPAs do in practice.
You won’t just memorize standards—you’ll use them.