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The CPA Financial Accounting and Reporting Certification Exam covers a range of topics including financial accounting and reporting, management accounting and strategy, auditing, and business law and taxation. Financial-Accounting-and-Reporting exam is designed to test the candidate's comprehensive understanding of accounting concepts and their ability to apply them in practical situations. Financial-Accounting-and-Reporting exam is divided into four sections, each focusing on a different area of accounting. Candidates are required to pass all four sections to become a certified public accountant in Australia. The CPA Financial Accounting and Reporting Certification Exam is a challenging exam that requires extensive preparation, but it is also a valuable credential that can open doors to career advancement and new opportunities in the field of accounting.
The CPA Financial Accounting and Reporting exam is a computer-based exam that is administered at designated testing centers throughout the world. Financial-Accounting-and-Reporting exam consists of multiple-choice questions and simulations that require candidates to apply their knowledge in real-world scenarios. Candidates are given four hours to complete the exam, and they must score at least 540 out of a possible 900 points to pass.
CPA Australia Financial-Accounting-and-Reporting Exam Overview:
| Certification Vendor: | CPA Australia |
| Exam Name: | CPA Australia Financial Accounting and Reporting Exam |
| Exam Number: | Financial Accounting and Reporting |
| Related Certifications: | CPA Australia Associate Member CPA Program |
| Passing Score: | Scaled pass mark 540 (on 100–900 scale) |
| Exam Format: | Multiple choice |
| Available Languages: | English |
| Real Exam Qty: | 100 |
| Exam Duration: | 195 minutes |
| Exam Price: | AUD 388 (enrolment fee, may vary by region) |
| Sample Questions: | CPA Australia Financial-Accounting-and-Reporting Sample Questions |
| Exam Way: | Computer-based test centre exam (closed book, supervised by Pearson VUE; online proctored in some regions under conditions) with 100 multiple-choice questions; total time 195 minutes (3 hours 15 minutes) excluding introductory and survey components. |
| Pre Condition: | No formal prerequisite; part of CPA Australia Foundation exams required for entry to the CPA Program. Eligibility assessed based on prior qualifications and competencies. |
| Official Syllabus URL: | https://www.cpaaustralia.com.au/become-a-cpa/cpa-program/foundation-exams/financial-accounting-and-reporting |
CPA Australia Financial-Accounting-and-Reporting Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: The financial reporting environment | 25% | - Conceptual framework and elements of financial statements - Regulatory environment and reporting requirements - Accounting regulation and GAAP/IFRS - Users and developments impacting reporting - Role of International Accounting Standards Board - Accounting standards and policies - Types of business entity and structure |
| Topic 2: Application of specific accounting standards | 22% | - Revenue recognition and ledger reconciliation - Foreign currency transactions and translation - Intangible assets and journal entries - Current and deferred income tax accounting |
| Topic 3: Financial statements | 15% | - Statement of cash flows - Discrepancy detection and correction - Statement of financial position - Statement of profit or loss and other comprehensive income |
| Topic 4: Analysis of financial statements | 10% | - Financial ratio calculation and interpretation - Limitations of financial statement analysis |
| Topic 5: The accounting theory | 15% | - Historical cost vs other valuation methods - Agency and contracting theories - Recognition criteria per conceptual framework |
| Topic 6: Business combinations | 13% | - Accounting issues for business combinations - Impairment and journal entries - Non-controlling interest and control concepts - Consolidated financial statements - Goodwill measurement and disclosure |
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