Study with Financial-Accounting-and-Reporting Actual Test Questions

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Last Updated: Sep 09, 2026

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CPA Australia CPA Financial Accounting and Reporting is issued by CPA Australia, one of the most respected names in the industry, and earning it in 2026 can open serious career doors. Actualtests4sure helps you get there with 100 practice questions built around the official Financial-Accounting-and-Reporting objectives.

CPA Australia Financial-Accounting-and-Reporting Exam Overview:

Certification Vendor:CPA Australia
Exam Name:Financial Accounting and Reporting
Exam Number:Financial-Accounting-and-Reporting
Related Certifications:CPA Australia Associate Membership
CPA Program
Available Languages:English
Exam Price:AUD 388
Real Exam Qty:100
Exam Duration:195 minutes
Passing Score:540 / 900 (60%)
Certificate Validity Period:3 years
Exam Format:Closed-book, Multiple-choice questions
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:

SectionWeightObjectives
Topic 1: Business Combinations and Group Accounting20%- Non-controlling interests
- Consolidation principles and procedures
- Business combinations and goodwill
Topic 2: Presentation of Financial Statements15%- Statement of financial position
- Statement of profit or loss and OCI
- Statement of cash flows and notes
Topic 3: Financial Instruments12%- Classification and measurement
- Recognition, derecognition and disclosure
Topic 4: Income Taxes18%- Tax effects in financial statements
- Current and deferred tax calculation
Topic 5: Role and Regulatory Framework of Financial Reporting15%- Conceptual framework and qualitative characteristics
- Business entities and reporting obligations
- Regulatory environment and standards setting
Topic 6: Impairment of Assets6%- Impairment testing and recognition
- Impairment indicators and recoverable amount
Topic 7: Revenue, Provisions and Liabilities14%- Revenue from contracts with customers
- Provisions, contingent liabilities and assets

Frequently Asked Questions About CPA Australia CPA Financial Accounting and Reporting

The Financial-Accounting-and-Reporting exam leads to the CPA Foundation Program certification, a Foundation-level credential from CPA Australia. It validates the skills measured by the CPA Australia CPA Financial Accounting and Reporting syllabus and is a recognized step for IT professionals building their careers, and it sits alongside related credentials such as CPA Program, CPA Australia Associate Membership.

The CPA Australia CPA Financial Accounting and Reporting exam includes 100 questions and gives you 195 minutes to complete them. That works out to a fairly tight pace, so reading each question carefully but decisively matters more than perfectionism. If a question stalls you, flag it and move on; banking the easier points first keeps time pressure from snowballing near the end. Before test day, run at least one full timed session with the Actualtests4sure practice test so the rhythm feels familiar rather than rushed.

You need 540 / 900 (60%) to pass the Financial-Accounting-and-Reporting exam, and the official registration fee is AUD 388. Keep in mind that a failed attempt means paying the full fee again to retake the exam, so it pays to be honest with yourself before booking a seat. A practical benchmark: work through the 100 practice questions at Actualtests4sure until you can score comfortably above the passing line in timed mode, then schedule your exam.

No formal prerequisite; required for entry into CPA Program if accounting background is insufficient Because CPA Australia may adjust its policies over time, we recommend confirming the latest requirements on the official exam page (official exam page) before you register.

You can sign up for the CPA Australia CPA Financial Accounting and Reporting exam through any of the official registration channels below:

As for how the exam is delivered: Computer-based testing (CBT) at Pearson VUE test centres or online proctored.

CPA Australia suggests the following training options for candidates preparing for CPA Australia CPA Financial Accounting and Reporting:

Formal training is a solid foundation, and pairing it with the 100 practice questions from Actualtests4sure helps you turn that knowledge into exam-day confidence.

Yes. Actualtests4sure offers a free PDF demo of the CPA Australia CPA Financial Accounting and Reporting material, so you can review the question style and answer quality before making a decision. Every purchase also includes 365 days of free updates, and after that period you can extend your updates at a 50% discount, which keeps your preparation current through 2026 and beyond.

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The CPA Australia CPA Financial Accounting and Reporting syllabus is divided into 7 main domains, including Role and Regulatory Framework of Financial Reporting (15%), Impairment of Assets (6%), Business Combinations and Group Accounting (20%). Each domain carries a different share of the total score, so knowing where the weight sits helps you allocate your study time wisely. You will find the complete, up-to-date outline in the Exam Topics section above.

CPA Australia CPA Financial Accounting and Reporting Sample Questions:

Question #1

Which one of the following financial statements helps provide information about factors that might affect an entity's liquidity or solvency?

  • A. statement of changes in equity
  • B. statement of cash flows
  • C. notes to the financial statements
  • D. statement of profit or loss and other comprehensive income
Answer: B
Question #2

Which one of the following is not a principal motivation for creative accounting?

  • A. public good
  • B. bonus-related pay
  • C. benefits from shares and share options
  • D. personal incentives
Answer: A
Question #3

To be relevant, financial information has to
I)be provided in a timely manner.
II)comply with the going concern assumption.
III)have predictive and/or confirmatory value.
IV)exclude computations that are difficult to understand.

  • A. I and II only
  • B. I and III only
  • C. III and IV only
  • D. II and III only
Answer: B
Question #4

Which one of the following situations would result in either a new liability being recognised or an existing liability being increased?

  • A. A company pays only half of an overdue invoice.
  • B. A company recognises the depreciation expense for the current period.
  • C. At the end of the reporting period, there are unpaid wages.
  • D. A company establishes an asset revaluation reserve.
Answer: C
Question #5

Which one of the following would be recognised in the statement of profit or loss and other comprehensive income?

  • A. retained earnings
  • B. prepayment of expenses
  • C. employee wages
  • D. inventory
Answer: C
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