PracticeFARFree practice exam

Financial Accounting and Reporting

CPA FAR practice by topic

Pick a topic. Each one has the rules explained one page at a time and a mixed drill of every question on it.

Select balance sheet accounts

  1. Intangible assets107 questions

    Most questions hinge on five levers: which costs to capitalize, whether the asset is finite or indefinite, when amortization starts, how software costs are staged, and which impairment model applies.

Select transactions

  1. Subsequent events129 questions

    If you first lock in the cutoff date, then ask whether the later fact proves a condition existed at year‑end, every subsequent‑event question falls into place.

  2. Leases132 questions

    Master the flow: set the lease term, pick the classification, build the lease liability first, then the ROU asset, and know the special sale‑leaseback rules.

Financial reporting

  1. General-Purpose Financial Reporting: Nongovernmental Not-for-Profit Entities160 questions

    Master five core NFP moves: donor vs board limits, the placed‑in‑service trigger for long‑lived assets, endowment vs quasi‑endowment classification, required expense reporting, and required statements including the liquidity note.

Questions from the ChatCPA bank of 17,658 CPA exam questions, each with a written reason for every wrong answer. ChatCPA is built by Nicholas Miller, CPA (Oregon #14907). How these pages are made.