FAR — Governmental Accounting
Government-wide and fund financial statements — different measurement focus and basis of accounting from GAAP.
What you need to know
1Government-wide: economic resources measurement focus, full accrual basis
2Governmental funds: current financial resources measurement focus, modified accrual basis
3Proprietary funds: economic resources + full accrual (same as government-wide)
About the CPA
- Full name
- Certified Public Accountant
- Passing score
- 75 scaled score (not a percentage)
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Other CPA Topics
FAR — Revenue Recognition (ASC 606)
Study →The 5-step model for recognizing revenue from contracts with customers under current US GAAP.
AUD — Audit Risk & Internal Controls
Study →Risk assessment, the audit risk model, and evaluating the effectiveness of internal controls.
REG — Partnership & Flow-Through Taxation
Study →Partner basis calculations, at-risk rules, passive activity limitations, and special allocations.