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Philippine CPA: Financial Accounting and Reporting (FAR) · review course

PHCPA-01 · Professional qualifications

CertiFi's review course for Financial Accounting and Reporting (FAR) in the Philippine CPA Licensure Examination (CPALE). Sixteen lessons follow the nine content areas of the Board of Accountancy's current FAR table of specifications, from the Conceptual Framework and financial statement presentation through cash, financial assets, inventories, PPE, liabilities, equity, leases, income taxes, employee benefits and the SME frameworks, with PFRS and Philippine law updates, worked examples in pesos and a large original practice question bank.

Who it's for

Accountancy graduates and reviewees preparing to sit the FAR subject of the Philippine CPA board exam who want structured, exam-focused revision with plenty of practice.

What you'll be able to do

  • Apply the Conceptual Framework and PAS 1, PAS 7 and PAS 33 to prepare and analyse financial statements, cash flows and EPS
  • Measure and account for cash, receivables, financial asset investments, associates, inventories, PPE, investment property, intangibles, biological assets and assets held for sale under current PFRS
  • Account for financial and non-financial liabilities, provisions, contingencies and shareholders' equity, applying the Revised Corporation Code rules on shares and dividends
  • Solve leases, share-based payment, employee benefit, income tax, interim reporting and segment problems
  • Choose the right Philippine reporting framework (full PFRS, PFRS for SMEs, PFRS for Small Entities or income tax basis) and explain the key differences
  • Answer 70 FAR-style multiple-choice items within the three-hour time limit with confidence

Lessons

  1. 1Exam overview, standard setting and regulation of the profession6 min video
  2. 2Conceptual Framework and the accounting process6 min video
  3. 3Presentation of financial statements, cash flows and EPS6 min video
  4. 4Cash and receivables5 min video
  5. 5Financial asset investments and associates5 min video
  6. 6Inventories5 min video
  7. 7Property, plant and equipment, borrowing costs and impairment5 min video
  8. 8Investment property, intangibles, biological assets and assets held for sale5 min video
  9. 9Financial liabilities5 min video
  10. 10Provisions, contingencies and non-financial liabilities5 min video
  11. 11Share capital transactions5 min video
  12. 12Retained earnings, dividends, errors and book value per share5 min video
  13. 13Share-based payments and employee benefits5 min video
  14. 14Leases5 min video
  15. 15Income taxes, interim reporting and operating segments5 min video
  16. 16Other reporting frameworks: PFRS for SMEs, Small Entities and micro entities5 min video