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FAR STUDY PLAN

May 2019 Exam Recap

1. The exam was composed of 23 theory and 47 computation questions. The

questions were evenly distributed among the topics and close to the specified
Test of Specification was not followed.

2. For the next batches, please prioritize answering the preboards and weeks of
the review centers. Practice makes perfect.

3. VIP Premium iCPA Customers: The reconstructed May 2019 exam is now
in your inbox.

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FINANCIAL ACCOUNTING & REPORTING

Number Date Started Date Ended

TOPIC of Hours
Conceptual framework and regulation 4
Accounting process 8

Financial Statements 14
Statement of Financial Position 4
Statement of Comprehensive Income 4
Discontinued operations 4
Statement of Cash Flows 2

Financial Assets 8
Cash and cash equivalents 4
Loans and receivables 4

Investments 16
Investments in debt instruments 8
Investment in associates 8
Investment In Equity Securities
Nonfinancial assets 50
Inventories 8
Property, Plant, and Equipment 8
Investment Property 6
Intangible Assets 8
Biological Assets 8
Noncurrent assets held for sale 6
Impairment of Assets 6
Mineral Resources

Financial Liabilities 14
Accounts payable 4
Bonds payable 8
Debt restructuring 2

Nonfinancial liabilities 6
Premiums and warranties 2
Unearned revenues 2
Provision and Contingent Liability 2

Equity 20
Shareholders’ equity 4
Share capital 4
Dividends and retained earnings 4
Other comprehensive income 4
Book value and earnings per share 4

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Number Date Started Date Ended

TOPIC of Hours

Other topics 28
Share Options 4
Related party 1
Borrowing costs 4
Government grants 4
Leases 4
Income tax 2
Employee benefits 2
Segment Reporting 4
Interim Financial Reporting 1
SME & micro-reporting 2

FS ANALYSIS 12
Vertical analysis (common-size FS) 2
Horizontal analysis 2
Cash flow analysis 2
Gross profit variance analysis 2
Financial ratios 2
Financial forecasting using additional funds needed (FAN)
2

TOTAL HOURS 180

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