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CPA FR Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Group Financial Statements | - Consolidation
|
| Topic 2: International Financial Reporting Standards (IFRS) | - IAS/IFRS Application
|
| Topic 3: Financial Statements Preparation | - Preparation of financial statements
|
| Topic 4: Financial Reporting Framework | - Conceptual Framework for Financial Reporting
|
| Topic 5: Analysis and Interpretation | - Financial statement analysis
|
FR Exam Practice Questions FAQ
The test engine simulates the real exam environment, records your performance after each session, and points out the questions you got wrong so you know where to concentrate. Once you answer a question correctly consistently, you can mark it as mastered and clear it from your rotation, keeping every practice round focused on what still needs work.
The CPA Financial Reporting exam contains Variable (Section A OTQ + Section B multi-part constructed response questions) questions, and you will have 180 minutes minutes to complete them. Simulating that combination in advance turns exam-day pacing into a habit.
More than you might think. A demo shows you real questions and answers exactly as the full product presents them, so you can judge the accuracy, the writing quality, and the interface for yourself. We encourage you to compare our demo against any other provider's — the difference in care is visible in the details.
Many candidates combine practice questions with official training. Recommended options include:
This package includes 80 practice questions for the CPA Financial Reporting exam. Every answer is verified by an experienced team of experts, so you can trust what you study.
The CPA Financial Reporting exam requires a score of 50% to pass, and the official registration fee is Varies by country and exam entry period (typically £100–£200 equivalent). Knowing both figures before you begin helps you plan your preparation realistically.
You can register for the CPA Financial Reporting exam through the official channels:
Recommended: ACCA Financial Accounting (FA) or equivalent basic accounting knowledge
You can confirm the current eligibility requirements on the official FR exam page before you register.
The CPA Financial Reporting practice questions are organized around the official exam objectives. Key topics include:
- Analysis and Interpretation ()
- International Financial Reporting Standards (IFRS) ()
- Financial Statements Preparation ()
Your practice results against these topics show you exactly where to spend your next session.
CPA Financial Reporting Sample Questions:
On 30 September 2012 the directors of Diego pIc decided to sell the company's services division and the division was classified as held for sale.
The sale is expected to be completed, along with the sales of related assets, in early December 2012. One item of plant within this division had originally cost $30,000 and had a carrying amount of $15,000 on 1 November 2011.
Diego plc will carry on using this plant until it is sold. Diego pIc has a year end of 31 October and depreciates all plant on a monthly straight-line basis using a monthly rate of 1%.
In accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, what amount will berecognizedin the statement of financial position of Diego pIc as at 31 October 2012 in respect of this plant?
- A. $11,700 in non-current assets held for sale
- B. $11,400 in current assets
- C. $11,700 in non-current assets
- D. $11,400 in non-current assets held for sale
Correct Answer: A 🗳️
During the year ended 30 June 2013, Emily plc spent $300,000 on the development of a new range of garden machinery. In order to carry out this work, Emily plc purchased some highlyspecializedequipment on 1 July 2012 at a cost of $100,000. The equipment is expected to have a useful life of five years and is to be depreciated over that period by the straight-line method.
According to IAS 38 Intangible Assets, what is the maximum amount that Emily plc can carry forward as development expenditure as at 30 June 2013?
- A. $100,000
- B. $400,000
- C. $300,000
- D. $320,000
Correct Answer: D 🗳️
Plateau Co has the following construction contract in progress: $m Total contract price750 Costs incurred to date225 Estimated costs to completion340 Progress payments invoiced and received290
Calculate the amounts to berecognizedfor the contract in the statement of profit or loss and statement of financial position using the proportion of costs incurred method.
Statement of profit or lossStatement of financial position
- A. $9m$74m
- B. $74m$9m
- C. $185m$120m
- D. $111m$46m
Correct Answer: B 🗳️
According to the IASB's Conceptual Framework for Financial Reporting, which one of the following statements represents the underlying assumption relating to financial statements?
- A. The business is expected to continue in operation for the foreseeable future
- B. The accounts have been prepared on an accrual basis
- C. Users are assumed to have sufficient knowledge to be able to understand the financial statements
- D. The accounting policies used have been disclosed
Correct Answer: A 🗳️
Wolf plc acquired 80,000 $1 ordinary shares in Fox plc on 1 April 20X5 at a cost of $77,000. Fox plc's retained earnings at that date were $50,000 and its issued ordinary share capital was $100,000.
What is the amount of the gain on a bargain purchase arising on the acquisition?
- A. $73,000
- B. $35,000
- C. $43,000
- D. $63,000
Correct Answer: C 🗳️
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