Last Updated: Aug 16, 2026
No. of Questions: 80 Questions & Answers with Testing Engine
Download Limit: Unlimited
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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: State and Local Governments | 5-15% | - Governmental accounting concepts and standards - Governmental reporting and note disclosures - Fund financial statements and government-wide statements |
| Topic 2: Select Transactions | 20-30% | - Foreign currency transactions and translation - Accounting changes and error corrections - Business combinations and consolidations - Fair value measurements - Derivatives and hedge accounting |
| Topic 3: Select Financial Statement Accounts | 30-40% | - Assets: cash, receivables, inventory, investments, PP&E, intangibles - Revenue recognition and expense recognition - Liabilities: payables, debt, leases, contingencies - Equity: capital stock, retained earnings, comprehensive income |
| Topic 4: Not-for-Profit Entities | 5-15% | - Revenue, contributions, and net asset classifications - Reporting model and financial statements - Disclosures and reporting requirements |
| Topic 5: Conceptual Framework, Standard-Setting and Financial Reporting | 25-35% | - General purpose financial statements - Public company reporting requirements - Conceptual framework and standard-setting - Special purpose frameworks |
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