CPA Exam · FAR · 2026 Blueprints

Library

3 content areas, 22 groups, 113 representative tasks. Each card opens the study guide for its area, with a section for every group, in our own words.

ExamDragon is independent exam preparation. It is not affiliated with, endorsed by or reviewed by the American Institute of Certified Public Accountants (AICPA), the National Association of State Boards of Accountancy (NASBA), any state board of accountancy or Prometric. Uniform CPA Examination and CPA Exam are names of the AICPA, used here only to name the exam. Every question and simulation here is our own, written from the AICPA's published Blueprints; none is adapted from the AICPA's released questions or any review course.

Uniform Certified Public Accountant (CPA) Examination

How the exam is built

FAR's three content areas and their share of the section, from the AICPA's 2026 Blueprints

What each area is worth

The AICPA publishes a range for each area; our mock spreads its questions and simulations by the middle of each range.

Area I · Financial Reporting6 groups · 47 tasks30 to 40%
Area II · Select Balance Sheet Accounts9 groups · 40 tasks30 to 40%
Area III · Select Transactions7 groups · 26 tasks25 to 35%

Source: AICPA, Uniform CPA Examination Blueprints, effective January 2026, FAR2 and FAR6; unchanged for 2027.

The section

Time: 240 minutes
Multiple choice: 50 (two testlets of 25)
Simulations: 7 (testlets of 2, 3 and 2)
Weighting: 50% and 50%
Break: 15 minutes after testlet 3, not counted
Score: 0 to 99, 75 to pass

AICPA Blueprints p. 2; AICPA scoring page; NASBA Candidate Guide p. 44.

What this covers

Every FAR content area of the AICPA's CPA Exam Blueprints, the study guide that teaches it, and a free study sheet per area.

Area I30 to 40% of the section
Financial Reporting
Tasks
47
Questions
60
Simulations
4
In the mock
21
The 6 groups and 47 tasks, in our words
1. A. Business financial statements
  1. FR.1.1Build a classified balance sheet from ledger balances
  2. FR.1.2Fix errors found in a balance sheet
  3. FR.1.3Trace balance sheet figures to records and resolve gaps
  4. FR.1.4Lay out an income statement in one step or several
  5. FR.1.5Fix errors found in an income statement
  6. FR.1.6Compute gains and losses on foreign currency transactions
  7. FR.1.7Trace income statement figures to records and resolve gaps
  8. FR.1.8Know what comprehensive income reporting is for and how it looks
  9. FR.1.9Spot which items belong in other comprehensive income
  10. FR.1.10Build the equity statement from ledger balances
  11. FR.1.11Fix errors found in an equity statement
  12. FR.1.12Trace equity statement figures to records and resolve gaps
  13. FR.1.13Build an indirect-method cash flow statement with disclosures
  14. FR.1.14Fix errors found in a cash flow statement
  15. FR.1.15Trace cash flow figures to records and resolve gaps
  16. FR.1.16Work out how a transaction moves operating, investing or financing cash
  17. FR.1.17Prepare consolidation entries and eliminations
  18. FR.1.18Fix errors in consolidated statements
  19. FR.1.19Trace consolidated figures to records and resolve gaps
  20. FR.1.20Correct mistakes and gaps in the notes
  21. FR.1.21Test the notes against the statements and the records
2. B. Not-for-profit financial statements
  1. FR.2.1Know what a nonprofit's financial position statement shows
  2. FR.2.2Build a nonprofit's statement of financial position
  3. FR.2.3Fix errors in a nonprofit's financial position statement
  4. FR.2.4Know what a nonprofit's statement of activities shows
  5. FR.2.5Build a statement of activities with restricted gifts and releases
  6. FR.2.6Fix errors in a nonprofit's statement of activities
  7. FR.2.7Present nonprofit expenses by nature and by function
  8. FR.2.8Know what a nonprofit's cash flow statement is for
  9. FR.2.9Build a nonprofit's indirect-method cash flow statement
  10. FR.2.10Fix errors in a nonprofit's cash flow statement
  11. FR.2.11Correct mistakes and gaps in a nonprofit's notes
3. C. Government funds and bases
  1. FR.3.1Know the focus and basis for funds and government-wide reports
  2. FR.3.2Choose the right fund for a government activity
4. D. SEC filings and earnings per share
  1. FR.4.1Know what the annual, quarterly and current SEC reports do
  2. FR.4.2Name the key items inside quarterly and annual SEC reports
  3. FR.4.3Compute basic and diluted EPS with options and convertibles
5. E. Special purpose frameworks
  1. FR.5.1Title statements correctly under a special purpose framework
  2. FR.5.2Convert cash or modified cash figures to accrual
  3. FR.5.3Prepare statements on pure or adjusted cash accounting
  4. FR.5.4Prepare statements on the income tax basis
6. F. Ratios, metrics and budget variances
  1. FR.6.1Pick the ratio or metric that answers a given question
  2. FR.6.2Compute margins and returns on assets and equity
  3. FR.6.3Compute current, quick and turnover ratios
  4. FR.6.4Compute leverage and interest coverage ratios
  5. FR.6.5Compute EBITDA, price to earnings, payout and asset turnover
  6. FR.6.6Compare budgeted figures with actual results and size the gaps
Study guide, Financial Reporting Study sheet (free PDF)
Area II30 to 40% of the section
Select Balance Sheet Accounts
Tasks
40
Questions
60
Simulations
4
In the mock
20
The 9 groups and 40 tasks, in our words
1. A. Cash and bank reconciliations
  1. BSA.1.1Work out the reported cash and cash equivalents
  2. BSA.1.2Reconcile the bank balance to the books
  3. BSA.1.3Decide whether reconciling items need a book entry
2. B. Trade receivables
  1. BSA.2.1Measure receivables, credit loss and return allowances, with entries
  2. BSA.2.2Record factoring, pledging, assignment or borrowing against receivables
  3. BSA.2.3Roll receivables forward from several data sources
  4. BSA.2.4Reconcile the receivables subledger to the ledger
3. C. Inventory
  1. BSA.3.1Cost inventory under FIFO, LIFO or averages, with entries
  2. BSA.3.2Apply the net realizable value or market test to inventory
  3. BSA.3.3Roll inventory forward from several data sources
  4. BSA.3.4Reconcile the inventory subledger to the ledger
4. D. Property, plant and equipment
  1. BSA.4.1Measure gross and net fixed assets, with entries
  2. BSA.4.2Compute the gain or loss when a long-lived asset is sold
  3. BSA.4.3Measure impairment of long-lived assets
  4. BSA.4.4Decide if an asset is classified as held for sale
  5. BSA.4.5Remeasure held-for-sale assets and the resulting loss
  6. BSA.4.6Roll fixed assets forward from several data sources
  7. BSA.4.7Reconcile the fixed asset subledger to the ledger
5. E. Investments
  1. BSA.5.1Know which investments go, or may go, to fair value
  2. BSA.5.2Measure investments carried at fair value
  3. BSA.5.3Record income and entries on fair value investments
  4. BSA.5.4Measure credit impairment on debt held as available for sale
  5. BSA.5.5Know which investments may be held at amortized cost
  6. BSA.5.6Measure amortized cost investments, with entries
  7. BSA.5.7Measure credit losses on amortized cost investments
  8. BSA.5.8Know when significant influence calls for the equity method
  9. BSA.5.9Carry an equity method investment, with entries
6. F. Intangibles and software
  1. BSA.6.1Know when an intangible is recognized and its life type
  2. BSA.6.2Measure, amortize and impair finite-lived intangibles
  3. BSA.6.3Account for purchased software and cloud hosting costs
7. G. Payables and accruals
  1. BSA.7.1Know how asset retirement obligations are recognized and measured
  2. BSA.7.2Measure payables and accrued expenses, with entries
  3. BSA.7.3Measure and time exit costs such as severance
  4. BSA.7.4Reconcile payables and accruals subledgers to the ledger
8. H. Notes and bonds payable
  1. BSA.8.1Tell a debt modification from an extinguishment
  2. BSA.8.2Know when a debt change is a troubled restructuring
  3. BSA.8.3Compute interest with discounts, premiums and issue costs
  4. BSA.8.4Carry notes and bonds payable, with entries
  5. BSA.8.5Test compliance with loan covenants
9. I. Equity transactions
  1. BSA.9.1Record stock issues, dividends, splits, buybacks and partner capital
Study guide, Select Balance Sheet Accounts Study sheet (free PDF)
Area III25 to 35% of the section
Select Transactions
Tasks
26
Questions
45
Simulations
4
In the mock
16
The 7 groups and 26 tasks, in our words
1. A. Accounting changes and errors
  1. TX.1.1Measure a change or correction and choose retrospective or prospective
  2. TX.1.2Trace how a change or correction alters statements and notes
2. B. Contingencies and commitments
  1. TX.2.1Know when contingencies and commitments are booked or disclosed
  2. TX.2.2Measure contingencies and record the entries
  3. TX.2.3Read the evidence to decide booking or disclosure
3. C. Revenue and contributions
  1. TX.3.1Know the five steps of contract revenue
  2. TX.3.2Know when a nonprofit books conditional or unconditional pledges
  3. TX.3.3Spot pass-through gifts a nonprofit does not book as contributions
  4. TX.3.4Measure and time contract revenue, with entries
  5. TX.3.5Capitalize and amortize costs to win or fulfill contracts
  6. TX.3.6Book donated services at a nonprofit, with entries
  7. TX.3.7Measure gifts of cash and other assets to a nonprofit
4. D. Income taxes
  1. TX.4.1Know how uncertain tax positions are handled
  2. TX.4.2Know when a deferred tax asset needs a valuation allowance
  3. TX.4.3Compute tax expense and the current tax payable
  4. TX.4.4Compute deferred taxes from temporary differences
  5. TX.4.5Record the income tax provision
5. E. Fair value
  1. TX.5.1Name the market, income and cost approaches to fair value
  2. TX.5.2Measure fair value with market participant inputs and levels
6. F. Leases for the lessee
  1. TX.6.1Know how guarantees, purchase options and variable rent work for lessees
  2. TX.6.2Know the tests that make a lessee's lease a finance lease
  3. TX.6.3Measure the lessee's right-of-use asset and liability, with entries
  4. TX.6.4Compute the lessee's lease cost for the period
7. G. Subsequent events
  1. TX.7.1Spot a subsequent event and how it is treated
  2. TX.7.2Adjust or disclose for a subsequent event
  3. TX.7.3Trace how a subsequent event alters statements and notes
Study guide, Select Transactions Study sheet (free PDF)

The item types

FAR uses multiple-choice questions and task-based simulations. Practice and the mock use both, with the simulation formats below.

Multiple-choice questions
Four options, one correct answer. Two testlets of 25, half of the score.
Task-based simulations
Small case studies with exhibits (schedules, contracts, memos, trial balance extracts), each with several parts. Three testlets of 2, 3 and 2, the other half of the score.
Numeric entry
Compute an amount from the exhibits and enter it, in dollars or in the unit the part names.
Journal entries
Record an entry: choose each account from the list and enter its debit or credit. Here a part is right when its lines match, in any order.
Document review
Read a document or a schedule and choose the right treatment, classification or correction for each part.
Research
Find the authoritative literature that answers a question. The exam gives excerpts of the FASB Accounting Standards Codification; here, choose the ASC topic by number and name.

The skill levels

Remembering and Understanding: 5 to 15% of FAR.
Application: 45 to 55% of FAR.
Analysis: 35 to 45% of FAR.
Evaluation, the fourth level of the Blueprints, is not tested in FAR.

How the exam is scored

The score is a weighted combination of scaled scores from the multiple-choice questions (50%) and the task-based simulations (50%).
Scores are reported on a scale of 0 to 99, and 75 passes. A score of 75 does not mean 75% correct: scaling takes into account whether each question was answered correctly and how difficult it is.
Scores are not curved: there is no target pass rate, and scores are comparable across forms and over time. The Board of Examiners sets the cut score for each section.
A candidate who fails receives a performance report comparing their results by content area and item type with candidates who just passed.
The AICPA does not publish its scaling formulas, so our mock reports percent correct for the questions and for the simulations, combined 50/50, and calls no score and no pass or fail.

Sources: the AICPA's Uniform CPA Examination Blueprints and scoring page, and NASBA's score information. Every source: Sources. The areas, allocations and skill levels are the AICPA's; the guides, questions, simulations and the wording of every group and task here are ours.