2027 CPA Board Exams · AFAR (Advanced Financial Accounting) syllabus and quizzes

Try 5 questions on AFAR now, free and with no account. Each answer shows the key and why.

AFAR (Advanced Financial Accounting and Reporting) is one of the six subjects of the 2027 CPA Board Exams (the Philippine CPA Licensure Examination, CPALE), which follow the 2022 Board of Accountancy syllabus (valid from 2022 to 2028). It asks for quick, sure recall across partnership dissolution and liquidation, corporate liquidation, business combinations (PFRS 3), consolidated statements, foreign currency and cost accounting.

See the whole AFAR syllabus on Aefing, try the free quizzes below with no account, and make a free account to keep your misses coming back until your sitting.

More free AFAR quizzes

Each is linked to the official AFAR part of the 2022 syllabus (valid from 2022 to 2028).

• The 15 question AFAR diagnostic checks where you stand across Advanced Financial Accounting and Reporting.
• The AFAR learning science set practices enumeration, fill in the blanks, matching and ordering.

When you finish a shared quiz you can save the questions you missed into your own account, and Aefing brings them back the next day and again until they stick.

The 2022 syllabus parts of AFAR

The main parts of AFAR (Advanced Financial Accounting and Reporting) for the 2027 CPA board exams, from the 2022 syllabus (valid from 2022 to 2028).

• 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

For every nested part and its weight, open the whole CPALE syllabus.

How to study AFAR so it sticks

1. Follow the official syllabus. On the CPALE syllabus page choose Follow this syllabus, which makes your own copy of its topics, linked to AFAR and its parts.
2. Mix computation with recall. Do not only recognize the right choice. Type numeric answers, work faded examples step by step, and match rules that are easy to confuse.
3. Clear yesterday's misses first. Open Today each morning and answer what is due before you start a new part.
4. Check what you kept. Progress shows your results on retention checks, the short checks Aefing gives weeks after you first practice a topic. Practice scores are never counted as retention.

Try 5 questions on AFAR now, free and with no account. Each answer shows the key and why.

See the whole CPALE syllabus · Back to the guide to all six subjects · Make a free account