CPALE Advanced Financial Accounting and Reporting (AFAR): Syllabus & Practice Quizzes

AFAR — Advanced Financial Accounting and Reporting is one of the six core subjects of the Philippine CPA Licensure Examination (CPALE). Mastering AFAR requires solid recall and problem-solving speed across partnership dissolution and liquidation, corporate liquidation, PFRS 3 business combinations, consolidated financial statements, foreign currency, and cost accounting.

You can inspect the complete AFAR syllabus tree on Aefing, take the free interactive quizzes below without an account, and create a free account to track your retention up to exam day.

Try the Free AFAR Practice Quizzes

Test yourself right now on live questions linked to the official AFAR syllabus:

• Take the 15-Item AFAR Diagnostic Quiz — Check your baseline across Advanced Financial Accounting and Reporting with immediate explanations.
• Take the AFAR Active Retrieval & Mastery Quiz — Practice enumeration, fill-in-the-blanks, contrastive matching, procedural ordering, and faded worked examples.

After you finish a shared quiz, you can save the questions you missed into your own account so Aefing brings them back the next morning and schedules them until they stick.

Official CPALE 2022 Syllabus Sections for AFAR

Here are the major syllabus sections under AFAR (Advanced Financial Accounting and Reporting) in the 2022 BOA syllabus:

• AFAR.1 Partnership Accounting (Weight: 10)
• AFAR.2 Corporate Liquidation (Weight: 4)
• AFAR.3 Joint Arrangements (PFRS 11) (Weight: 4)
• AFAR.4 Revenue Recognition (PFRS 15) (Weight: 10)
• AFAR.5 Accounting for Home Office, Branch and Agency Transactions (Weight: 4)
• AFAR.6 Business Combination (PFRS 3) (Weight: 6)
• AFAR.7 Separate Financial Statements (PAS 27) (Weight: 4)
• AFAR.8 Consolidated Financial Statements (PFRS 10) (Weight: 5)
• AFAR.9 Derivatives and Hedging Accounting (PFRS 9) (Weight: 4)
• AFAR.10 Translation of Foreign Currency Financial Statements (PAS 21/ PAS 29) (Weight: 3)
• AFAR.11 Not-for-Profit Organizations (Weight: 2)
• AFAR.12 Government Accounting – General Fund (Weight: 2)
• AFAR.13 Cost Accounting (Weight: 10)
• AFAR.14 Other Special Topics (Basic Knowledge) (Weight: 2)

Want to see every nested subtopic and item weight? Open the full interactive CPALE 2022 syllabus.

How to Study AFAR So It Sticks Until Board Exam Day

1. Follow the official CPALE syllabus on Aefing: On the CPALE syllabus page, click Follow this syllabus or Start my topics from it to link your study topics directly to AFAR and its sub-parts.
2. Mix computation with active retrieval: Instead of only recognizing multiple-choice options, test yourself with numeric entries, multi-step faded worked examples, and contrastive matching between closely related standards or rules.
3. Let yesterday's misses lead Today: Open Today each morning to clear the questions you missed yesterday before starting new syllabus parts.
4. Check your On Your Date forecast: Open Progress to see how your measured 21-day retention compares against the 75% general average and 65% subject floor.

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