CPA Financial Accounting and Reporting (FAR) Flashcards

Master CPA Financial Accounting and Reporting (FAR) concepts with interactive flashcards

Study Materials

Enhance your CPA FAR study sessions with our interactive flashcards, which distill complex accounting terms and principles into bite-sized, easily digestible pieces. Use them for quick reviews or to reinforce your understanding of key topics whenever you have a spare moment.

Flashcard Topics

Business Combinations

24 cards

Cost Method

Business Combinations6 cards

Equity Method

Business Combinations6 cards

Fair Value Method

Business Combinations6 cards

Goodwill

Business Combinations6 cards

Business Combinations & Investments

12 cards

Consolidated Financial Statements

Business Combinations & Investments6 cards

Derivatives, Hedging, and Foreign Currency Transactions

Business Combinations & Investments6 cards

Compensation and Accrued Payroll

18 cards

Accrued Payroll Expense

Compensation and Accrued Payroll6 cards

Retirement Benefits

Compensation and Accrued Payroll6 cards

Stock Compensation

Compensation and Accrued Payroll6 cards

Current Assets

16 cards

Bank Reconciliations

Current Assets4 cards

Inventory Costing Methods

Current Assets4 cards

Prepaid Expenses

Current Assets4 cards

Receivables

Current Assets4 cards

Current Liabilities

12 cards

Contingencies

Current Liabilities6 cards

Payables and Accrued Liabilities

Current Liabilities6 cards

Debt and Equity Financing

18 cards

Bonds Payable & Long-term Debt

Debt and Equity Financing6 cards

Debt Covenant Obligations

Debt and Equity Financing6 cards

Equity Transactions

Debt and Equity Financing6 cards

Expenses

18 cards

Accounting for Leases

Expenses6 cards

Cost of Goods Sold

Expenses6 cards

Income Taxes

Expenses6 cards

Financial Reporting Standards

17 cards

Accounting Changes & Errors

Financial Reporting Standards4 cards

Conceptual Framework

Financial Reporting Standards4 cards

IFRS vs. GAAP

Financial Reporting Standards5 cards

Special Purpose Frameworks

Financial Reporting Standards4 cards

Income Statements & Analysis

14 cards

Calculate Fluctuations & Ratios

Income Statements & Analysis4 cards

Income Statement

Income Statements & Analysis5 cards

Other Comprehensive Income

Income Statements & Analysis5 cards

Non-Income Financial Statements

12 cards

Balance Sheet

Non-Income Financial Statements4 cards

Statement of Cash Flows

Non-Income Financial Statements4 cards

Statement of Retained Earnings

Non-Income Financial Statements4 cards

Not for Profit Accounting

18 cards

Nonreciprocal Transfers

Not for Profit Accounting6 cards

Statement of Activities

Not for Profit Accounting6 cards

Statement of Financial Position

Not for Profit Accounting6 cards

Other Long Lived Assets

18 cards

Asset Impairment

Other Long Lived Assets6 cards

Intangible Assets

Other Long Lived Assets6 cards

Software, R&D Costs

Other Long Lived Assets6 cards

Property, Plant and Equipment

18 cards

Asset Retirement Obligations

Property, Plant and Equipment6 cards

Capitalizing Property, Plant, and Equipment

Property, Plant and Equipment6 cards

Depreciation and Amortization

Property, Plant and Equipment6 cards

Revenue

18 cards

Allowance Method for Doubtful Accounts

Revenue6 cards

Non-Monetary Exchanges

Revenue5 cards

Revenue Recognition

Revenue7 cards

State and Local Governments

24 cards

CAFR (Fund) Accounting

State and Local Governments6 cards

Encumbrance Accounting

State and Local Governments6 cards

Government-Wide Financial Statements

State and Local Governments6 cards

Modified Accrual Basis of Accounting

State and Local Governments6 cards
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