Download CPA Australia : Financial-Accounting-and-Reporting Questions & Answers as PDF & Test Software
Updated: Sep 16, 2026
No. of Questions: 100 Questions & Answers with Testing Engine
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CPA Australia Financial-Accounting-and-Reporting Exam Overview:
| Certification Vendor: | CPA Australia |
|---|---|
| Exam Name: | Financial Accounting and Reporting |
| Exam Number: | Financial-Accounting-and-Reporting |
| Available Languages: | English |
| Exam Duration: | 195 minutes |
| Exam Format: | Multiple-choice questions, Closed-book |
| Real Exam Qty: | 100 |
| Passing Score: | 540 / 900 (60%) |
| Certificate Validity Period: | 3 years |
| Related Certifications: | CPA Australia Associate Membership CPA Program |
| Exam Price: | AUD 388 |
| Recommended Training: | CPA Australia Official Study Materials |
| Exam Registration: | Pearson VUE Scheduling CPA Australia Foundation Exam Registration |
| Sample Questions: | CPA Australia Financial-Accounting-and-Reporting Sample Questions |
| Exam Way: | Computer-based testing (CBT) at Pearson VUE test centres or online proctored |
| Pre Condition: | No formal prerequisite; required for entry into CPA Program if accounting background is insufficient |
| Official Syllabus URL: | https://www.cpaaustralia.com.au/become-a-cpa/cpa-program/foundation-exams/financial-accounting-and-reporting |
CPA Australia Financial-Accounting-and-Reporting Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Business Combinations and Group Accounting | 20% | - Business combinations and goodwill - Consolidation principles and procedures - Non-controlling interests |
| Income Taxes | 18% | - Current and deferred tax calculation - Tax effects in financial statements |
| Role and Regulatory Framework of Financial Reporting | 15% | - Business entities and reporting obligations - Conceptual framework and qualitative characteristics - Regulatory environment and standards setting |
| Impairment of Assets | 6% | - Impairment testing and recognition - Impairment indicators and recoverable amount |
| Presentation of Financial Statements | 15% | - Statement of cash flows and notes - Statement of financial position - Statement of profit or loss and OCI |
| Revenue, Provisions and Liabilities | 14% | - Provisions, contingent liabilities and assets - Revenue from contracts with customers |
| Financial Instruments | 12% | - Classification and measurement - Recognition, derecognition and disclosure |
CPA Australia CPA Financial Accounting and Reporting Sample Questions:
The use of the principle of substance over form is found in which one of the following accounting treatments?
- A. accounting for finance leases
- B. accounting for property, plant and equipment
- C. accounting for non-current assets
- D. accounting for inventories
Correct Answer: A 🗳️
Which one of the following is not a function of the trustees of the International Financial Reporting Standards Foundation (IFRS Foundation)?
- A. providing suggestions on technical matters relating to accounting standards
- B. promoting the application of International Financial Reporting Standards (IFRSs)
- C. appointing the members of the International Accounting Standards Board (IASB)
- D. ensuring the financing of the International Accounting Standards Board (IASB)
Correct Answer: A 🗳️
Which one of the following would be included in the statement of financial position?
- A. gains on property valuations
- B. deferred tax
- C. distribution costs
- D. depreciation
Correct Answer: B 🗳️
A statement of comprehensive income reports on
- A. solvency.
- B. financial performance.
- C. changes in financial position.
- D. financial position.
Correct Answer: B 🗳️
Which one of the following includes social reporting guidelines?
- A. International Accounting Standards (IAS)
- B. International Financial Reporting Standards (IFRS)
- C. Generally Accepted Accounting Principles (GAAP)
- D. Global Reporting Initiative (GRI)
Correct Answer: D 🗳️
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