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FAR · Introductory

FAR — Foundations of Financial Reporting

Master the conceptual framework and core PFRS standards tested in FAR.

Instructor: EKII Review Faculty FAR · CPA Review Lecturer

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FAR

About this course

An introductory CPA-review course covering the conceptual framework, measurement, and the core PFRS standards tested in FAR.

Course content

11 modules · 40 lessons

1. Development of Financial Reporting Framework, Standard-Setting Bodies & Regulation of the Accountancy Profession 2 lessons

1.1 History, Development & Functions of the Standard-Setting Bodies
1.2 Regulation & Environment of the Accounting Profession in the Philippines
End-of-module quiz — 14 questions

2. Conceptual Framework, Accounting Process & Presentation of Financial Statements 3 lessons

2.1 The Conceptual Framework for Financial Reporting
2.2 The Accounting Process
2.3 Presentation of the Financial Statements
End-of-module quiz — 10 questions

3. Cash and Other Financial Assets 2 lessons

3.1 Cash
3.2 Other Financial Assets
End-of-module quiz — 10 questions

4. Non-financial Assets 7 lessons

4.1 Inventories
4.2 Property, Plant and Equipment
4.3 Investment Property
4.4 Intangible Assets
4.5 Biological Assets
4.6 Non-current Assets Held for Sale (or disposal group)
4.7 Prepaid Expenses and Other Assets
End-of-module quiz — 10 questions

5. Financial Liabilities 5 lessons

5.1 Classification of financial liabilities
5.2 Initial recognition
5.3 Debt issue cost
5.4 Measurement using effective interest method
5.5 Troubled debt restructuring
End-of-module quiz — 10 questions

6. Non-financial Liabilities, Provisions and Contingencies 4 lessons

6.1 Liabilities arising from customer loyalty programs
6.2 Warranties and product guarantees
6.3 Unearned revenues (contracts, gift certificates, subscriptions)
6.4 Other provisions and contingencies
End-of-module quiz — 8 questions

7. Shareholders' Equity 4 lessons

7.1 Share capital transactions
7.2 Retained earnings
7.3 Cumulative other comprehensive income
7.4 Computation of book value per share
End-of-module quiz — 10 questions

8. Other Topics 6 lessons

8.1 Share-based payment transactions
8.2 Leases
8.3 Income Tax
8.4 Employee Benefits
8.5 Interim Reporting
8.6 Operating Segments
End-of-module quiz — 10 questions

9. Other Reporting Frameworks 1 lessons

9.1 Applicability and salient differences from PFRS
End-of-module quiz — 10 questions

Integrated Review & Mock Board Drills Add-on 3 lessons

Subject-wide rapid review
Full mock board simulation
Answer rationalization & debrief

Exam Techniques & Time Management Add-on 3 lessons

Question analysis & elimination
Time budgeting per item
Common traps & final reminders

This course includes

11 modules
40 lessons
Subject: Financial Accounting and Reporting
Level: Introductory
AI tutor & rationalization

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