Comprehensive FAR Review Checklist

Final Review Before Exam Day

• Master the conceptual framework and financial statements.
• Review revenue recognition and expense matching.
• Understand asset and liability accounting.
• Practice leases, bonds, and pensions.
• Review equity transactions and EPS.
• Master statement of cash flows.
• Practice business combinations and consolidations.
• Review investments and the equity method.
• Study foreign currency accounting.
• Review not-for-profit accounting.
• Master governmental accounting and fund reporting.
• Complete mixed cumulative practice questions.

FAR rewards candidates who understand the logic behind accounting standards rather than those who memorize isolated journal entries.