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FAR Exam

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In India, finance is one of the most coveted streams and also one of the most prestigious career choices for students and young professionals. In this article, we have shortlisted a few long term courses in finance which have been formed by analyzing the availability of jobs and popularity amongst aspirants. Chartered AccountancyCertified Public Accountant (CPA)MBA Finance from Tier-I InstitutesChartered Financial Analyst (CFA)Chartered Management Accountant (CMA) Chartered Accountancy: Chartered Accountancy (CA) offered by ICAI (Institute…

Many people believe it’s like a fantasy to write the US CPA exam while working full time. The first question that comes to our mind is, how to prepare? What should be my study plan? So here are a few tips for you to follow: Planning: Plan the dates for each segment as soon as they start the test window. Iterations: Go over the course material, sample questions, etc. at least 4 times before the…

The CPA-BEC Exam (Business Environment and Concepts) tests the students in management, principle economic concepts, Information & Technology (IT), and corporate governance.  Let’s know the complete details of the CPA-BEC Exam. BEC Topic Areas & Concepts: The CPA BEC section is a 4-hour long exam. It includes the below topics: Content Area Allocation Economic Concepts and Analysis 17 to 27% Corporate Governance 17 to 27% Information Technology 15 to 25% Financial Modeling and Management 11…

The CPA-REG (Regulation) exam tests the understanding level of the candidate at legal matters in a business context and taxation at a federal level. The REG CPA exam covers the topics of business law and federal taxation.  Let’s go through the complete details of the CPA regulation exam structure. CPA-REG Exam Topic Areas: The REG section is a 4-hour long exam. It includes below topics: Content AreaAllocationBusiness Law10 to 20%Professional Ethics and Federal Tax Procedures10…

The CPA-FAR Exam section covers topics like financial transactions, financial statements, GAAP, reporting for nonprofits. Most of the CPA aspirants consider FAR to be the challenging one among the remaining CPA exam sections because of its length. This exam is also considered as difficult because it tests the candidate’s understanding of statement presentation, financial reports, and business transactions using IFRS, GAAP, and governmental accounting systems. There’s also common to see topics like benefits of the…

The Uniform Certified Public Accountant examination is a credentialing exam for professionals seeking to become CPAs. It is graded by AICPA (American Institute of Certified Public Accountants) and administered with NASBA (National Association of State Boards of Accountancy).  CPA Exam Format: The CPA exam consists of 4 sections. Auditing and Attestation (AUD) Regulation (REG) Financial Accounting and Reporting (FAR) Business Environment and Concepts (BEC) There are 3 types of questions in the CPA exam: Multiple-Choice…

Shortage of CPAs has been continuing for decades, and the survey of AICPA’s 2019 PCPS CPA firm says the primary issue for most public accounting firms is staff recruitment. The U.S. Bureau of Labour Statistics has reported that unemployment for auditors and accountants is under 2 percent. In recent years, record numbers are majoring in accounting, but the people sitting for the CPA exam are static, which results in “CPA gap.” An individual must pass…

NASBA has declared CPA exam results for September. One of the crucial parts of the CPA journey is waiting for your scores to be released!! Once the examination is taken, waiting for exam results is a nerve-wracking experience for most students since they have put an immense amount of hard work and time in order to prepare for the exam successfully.  CPA Exam Score Release Dates Testing Window: July 1 – December 31, 2020: If…

Full form of CPA: Full form of CPA is (Certified Public Accountant) is a designation given by AICPA to the individuals who have passed the Uniform CPA exam, met the required and relevant experience. The CPA designation enforces high professional standards in the field of accounting.  CPA Course Eligibility: To appear for the CPA exam, the candidate must have any of the following qualifications. Member of the “Institute of Costs & Works Accountants in India.”…

Accounting is a process of recording, reporting and analyzing a company’s financials. Bookkeeping is the recording part of the accounting process, in which the business financial transactions are entered into a database. Both Accounting and Bookkeeping are essential for every business organization; it’s because they can deal with financial data and generate reports using financial transactions. Besides, both these processes have their own set of advantages. The major misconception regarding Accounting vs Bookkeeping is that…