FAR - 4

FAR - 4 (Payables and Accrued Liabilities) focuses on the recognition, measurement, and financial reporting of short-term obligations in accordance with U.S. GAAP. This module covers accounts payable, accrued expenses, and other obligations that arise in the normal course of business. Students will learn the accounting treatment for trade payables, accrued liabilities, payroll obligations, and estimated liabilities. The course also explores proper financial statement presentation and disclosure requirements.

Key Topics Covered:

Recognition and Measurement of Accounts Payable
Trade Payables (Invoice Processing, Discounts, and Timing Issues)
Accrued Liabilities (Interest, Salaries, and Other Expenses)
Payroll and Related Liabilities (Taxes, Benefits, and Withholdings)
Estimated Liabilities and Warranty Obligations
Financial Statement Presentation and Disclosures
This course equips CPA candidates with the knowledge needed to properly account for payables and accrued liabilities, ensuring compliance with financial reporting standards and effective preparation for the CPA FAR exam.

FAR - 4 (Payables and Accrued Liabilities) focuses on the recognition, measurement, and financial reporting of short-term obligations in accordance with U.S. GAAP. This module covers accounts payable, accrued expenses, and other obligations that arise in the normal course of business. Students will learn the accounting treatment for trade payables, accrued liabilities, payroll obligations, and estimated liabilities. The course also explores proper financial statement presentation and disclosure requirements.

Key Topics Covered:

Recognition and Measurement of Accounts Payable
Trade Payables (Invoice Processing, Discounts, and Timing Issues)
Accrued Liabilities (Interest, Salaries, and Other Expenses)
Payroll and Related Liabilities (Taxes, Benefits, and Withholdings)
Estimated Liabilities and Warranty Obligations
Financial Statement Presentation and Disclosures
This course equips CPA candidates with the knowledge needed to properly account for payables and accrued liabilities, ensuring compliance with financial reporting standards and effective preparation for the CPA FAR exam.

FAR - 4 (Contingencies and Commitments) provides an in-depth understanding of the accounting treatment and financial reporting requirements for contingent liabilities, contingent assets, and contractual commitments under U.S. GAAP. This module covers the recognition, measurement, and disclosure of legal obligations, warranties, guarantees, and other potential liabilities that depend on future events. Students will also explore loss contingencies, gain contingencies, and commitments such as purchase obligations and lease commitments. The course emphasizes the importance of proper disclosure and financial statement presentation to ensure transparency and compliance.

Key Topics Covered:

Recognition and Measurement of Contingent Liabilities
Probable, Reasonably Possible, and Remote Contingencies
Accounting for Lawsuits, Warranties, and Guarantees
Gain Contingencies and Revenue Recognition Considerations
Commitments (Purchase Obligations, Lease Commitments, and Contractual Agreements)
Financial Statement Presentation and Disclosure Requirements
This course equips CPA candidates with the knowledge to accurately account for contingencies and commitments, ensuring compliance with GAAP and preparing them for complex liability-related questions on the CPA FAR exam.

FAR - 4 (Long-Term Liabilities) provides a comprehensive study of the recognition, measurement, and financial reporting of long-term obligations under U.S. GAAP. This module covers bonds payable, long-term notes payable, lease liabilities, pension obligations, and other non-current liabilities. Students will learn about debt issuance, amortization of bond premiums and discounts, extinguishment of debt, and the impact of long-term liabilities on financial statements. The course also explores financial statement presentation, disclosure requirements, and the impact of long-term debt on financial ratios and decision-making.

Key Topics Covered:

Recognition and Measurement of Long-Term Liabilities
Bonds Payable (Issuance, Discount/Premium Amortization, and Retirement)
Long-Term Notes Payable and Debt Covenants
Lease Liabilities (Finance vs. Operating Leases)
Pension and Other Post-Employment Benefits (OPEB) Obligations
Debt Restructuring and Extinguishment of Debt
Financial Statement Presentation and Disclosures
This course equips CPA candidates with the technical knowledge and problem-solving skills necessary to properly account for long-term liabilities, ensuring compliance with GAAP and financial reporting standards while preparing for the CPA FAR exam

FAR - 4 (Long-Term Liabilities) provides a comprehensive study of the recognition, measurement, and financial reporting of long-term obligations under U.S. GAAP. This module covers bonds payable, long-term notes payable, lease liabilities, pension obligations, and other non-current liabilities. Students will learn about debt issuance, amortization of bond premiums and discounts, extinguishment of debt, and the impact of long-term liabilities on financial statements. The course also explores financial statement presentation, disclosure requirements, and the impact of long-term debt on financial ratios and decision-making.

Key Topics Covered:

Recognition and Measurement of Long-Term Liabilities
Bonds Payable (Issuance, Discount/Premium Amortization, and Retirement)
Long-Term Notes Payable and Debt Covenants
Lease Liabilities (Finance vs. Operating Leases)
Pension and Other Post-Employment Benefits (OPEB) Obligations
Debt Restructuring and Extinguishment of Debt
Financial Statement Presentation and Disclosures
This course equips CPA candidates with the technical knowledge and problem-solving skills necessary to properly account for long-term liabilities, ensuring compliance with GAAP and financial reporting standards while preparing for the CPA FAR exam

FAR - 4 (Long-Term Liabilities) provides a comprehensive study of the recognition, measurement, and financial reporting of long-term obligations under U.S. GAAP. This module covers bonds payable, long-term notes payable, lease liabilities, pension obligations, and other non-current liabilities. Students will learn about debt issuance, amortization of bond premiums and discounts, extinguishment of debt, and the impact of long-term liabilities on financial statements. The course also explores financial statement presentation, disclosure requirements, and the impact of long-term debt on financial ratios and decision-making.

Key Topics Covered:

Recognition and Measurement of Long-Term Liabilities
Bonds Payable (Issuance, Discount/Premium Amortization, and Retirement)
Long-Term Notes Payable and Debt Covenants
Lease Liabilities (Finance vs. Operating Leases)
Pension and Other Post-Employment Benefits (OPEB) Obligations
Debt Restructuring and Extinguishment of Debt
Financial Statement Presentation and Disclosures
This course equips CPA candidates with the technical knowledge and problem-solving skills necessary to properly account for long-term liabilities, ensuring compliance with GAAP and financial reporting standards while preparing for the CPA FAR exam

FAR - 4 (Long-Term Liabilities) provides a comprehensive study of the recognition, measurement, and financial reporting of long-term obligations under U.S. GAAP. This module covers bonds payable, long-term notes payable, lease liabilities, pension obligations, and other non-current liabilities. Students will learn about debt issuance, amortization of bond premiums and discounts, extinguishment of debt, and the impact of long-term liabilities on financial statements. The course also explores financial statement presentation, disclosure requirements, and the impact of long-term debt on financial ratios and decision-making.

Key Topics Covered:

Recognition and Measurement of Long-Term Liabilities
Bonds Payable (Issuance, Discount/Premium Amortization, and Retirement)
Long-Term Notes Payable and Debt Covenants
Lease Liabilities (Finance vs. Operating Leases)
Pension and Other Post-Employment Benefits (OPEB) Obligations
Debt Restructuring and Extinguishment of Debt
Financial Statement Presentation and Disclosures
This course equips CPA candidates with the technical knowledge and problem-solving skills necessary to properly account for long-term liabilities, ensuring compliance with GAAP and financial reporting standards while preparing for the CPA FAR exam

FAR - 4 (Bonds – Part 1) provides a foundational understanding of bond issuance, classification, and initial recognition under U.S. GAAP. This module covers the different types of bonds, their pricing, and the accounting treatment at issuance. Students will learn how to calculate bond prices using present value techniques, account for bond issuance at par, discount, or premium, and understand the impact of bond transactions on financial statements. The course also explores bond-related journal entries and financial statement presentation.

Key Topics Covered:

Overview of Bonds (Types and Characteristics)
Bond Issuance at Par, Discount, and Premium
Pricing of Bonds (Present Value Calculations)
Initial Recognition and Measurement of Bonds Payable
Journal Entries for Bond Issuance
Impact of Bonds on Financial Statements
Financial Statement Presentation and Disclosure Requirements
This course equips CPA candidates with the technical skills needed to properly account for bonds at issuance, ensuring compliance with GAAP and financial reporting standards while preparing them for bond-related questions on the CPA FAR exam.

FAR - 4 (Bonds – Part 1) provides a foundational understanding of bond issuance, classification, and initial recognition under U.S. GAAP. This module covers the different types of bonds, their pricing, and the accounting treatment at issuance. Students will learn how to calculate bond prices using present value techniques, account for bond issuance at par, discount, or premium, and understand the impact of bond transactions on financial statements. The course also explores bond-related journal entries and financial statement presentation.

Key Topics Covered:

Overview of Bonds (Types and Characteristics)
Bond Issuance at Par, Discount, and Premium
Pricing of Bonds (Present Value Calculations)
Initial Recognition and Measurement of Bonds Payable
Journal Entries for Bond Issuance
Impact of Bonds on Financial Statements
Financial Statement Presentation and Disclosure Requirements
This course equips CPA candidates with the technical skills needed to properly account for bonds at issuance, ensuring compliance with GAAP and financial reporting standards while preparing them for bond-related questions on the CPA FAR exam.

FAR - 4 (Troubled Debt Restructuring and Extinguishment) provides a detailed examination of the accounting treatment for debt modifications, settlements, and extinguishments under U.S. GAAP. This module covers the recognition and measurement of troubled debt restructurings (TDRs), including concessions granted by creditors and the impact on debtors' financial statements. Students will also explore the accounting treatment for early extinguishment of debt, including gain or loss recognition and financial statement presentation.

Key Topics Covered:

Overview of Troubled Debt Restructuring (TDR)
Types of Debt Restructuring (Modification vs. Settlement)
Accounting for Concessions and Impairment of Receivables
Gain or Loss Recognition on Debt Restructuring
Early Extinguishment of Debt (Voluntary and Involuntary)
Financial Statement Presentation and Disclosures
This course equips CPA candidates with the knowledge needed to properly account for troubled debt restructurings and debt extinguishments, ensuring compliance with GAAP and financial reporting standards while preparing for complex debt-related questions on the CPA FAR exam.

FAR - 4 (Troubled Debt Restructuring and Extinguishment) provides a detailed examination of the accounting treatment for debt modifications, settlements, and extinguishments under U.S. GAAP. This module covers the recognition and measurement of troubled debt restructurings (TDRs), including concessions granted by creditors and the impact on debtors' financial statements. Students will also explore the accounting treatment for early extinguishment of debt, including gain or loss recognition and financial statement presentation.

Key Topics Covered:

Overview of Troubled Debt Restructuring (TDR)
Types of Debt Restructuring (Modification vs. Settlement)
Accounting for Concessions and Impairment of Receivables
Gain or Loss Recognition on Debt Restructuring
Early Extinguishment of Debt (Voluntary and Involuntary)
Financial Statement Presentation and Disclosures
This course equips CPA candidates with the knowledge needed to properly account for troubled debt restructurings and debt extinguishments, ensuring compliance with GAAP and financial reporting standards while preparing for complex debt-related questions on the CPA FAR exam.

FAR - 4 (Lessee Accounting) provides a comprehensive study of the accounting treatment for lease obligations from the lessee’s perspective under U.S. GAAP (ASC 842). This module covers the classification of leases as either finance or operating, initial recognition and measurement of lease liabilities and right-of-use (ROU) assets, and subsequent accounting for lease payments and amortization. Students will also explore lease modifications, short-term lease exceptions, and financial statement presentation and disclosures.

Key Topics Covered:

Overview of Lease Accounting (ASC 842)
Classification of Leases (Finance vs. Operating)
Initial Recognition and Measurement of Lease Liabilities and ROU Assets
Lease Amortization and Interest Expense Recognition
Lease Modifications and Reassessment
Short-Term Lease and Low-Value Asset Exceptions
Financial Statement Presentation and Disclosure Requirements
This course equips CPA candidates with the technical knowledge needed to properly account for leases as a lessee, ensuring compliance with GAAP and financial reporting standards while preparing them for lease-related questions on the CPA FAR exam.

FAR - 4 (Lessee Accounting) provides a comprehensive study of the accounting treatment for lease obligations from the lessee’s perspective under U.S. GAAP (ASC 842). This module covers the classification of leases as either finance or operating, initial recognition and measurement of lease liabilities and right-of-use (ROU) assets, and subsequent accounting for lease payments and amortization. Students will also explore lease modifications, short-term lease exceptions, and financial statement presentation and disclosures.

Key Topics Covered:

Overview of Lease Accounting (ASC 842)
Classification of Leases (Finance vs. Operating)
Initial Recognition and Measurement of Lease Liabilities and ROU Assets
Lease Amortization and Interest Expense Recognition
Lease Modifications and Reassessment
Short-Term Lease and Low-Value Asset Exceptions
Financial Statement Presentation and Disclosure Requirements
This course equips CPA candidates with the technical knowledge needed to properly account for leases as a lessee, ensuring compliance with GAAP and financial reporting standards while preparing them for lease-related questions on the CPA FAR exam.

FAR - 4 (Lessee Accounting) provides a comprehensive study of the accounting treatment for lease obligations from the lessee’s perspective under U.S. GAAP (ASC 842). This module covers the classification of leases as either finance or operating, initial recognition and measurement of lease liabilities and right-of-use (ROU) assets, and subsequent accounting for lease payments and amortization. Students will also explore lease modifications, short-term lease exceptions, and financial statement presentation and disclosures.

Key Topics Covered:

Overview of Lease Accounting (ASC 842)
Classification of Leases (Finance vs. Operating)
Initial Recognition and Measurement of Lease Liabilities and ROU Assets
Lease Amortization and Interest Expense Recognition
Lease Modifications and Reassessment
Short-Term Lease and Low-Value Asset Exceptions
Financial Statement Presentation and Disclosure Requirements
This course equips CPA candidates with the technical knowledge needed to properly account for leases as a lessee, ensuring compliance with GAAP and financial reporting standards while preparing them for lease-related questions on the CPA FAR exam.

FAR - 4 (Lessee Accounting) provides a comprehensive study of the accounting treatment for lease obligations from the lessee’s perspective under U.S. GAAP (ASC 842). This module covers the classification of leases as either finance or operating, initial recognition and measurement of lease liabilities and right-of-use (ROU) assets, and subsequent accounting for lease payments and amortization. Students will also explore lease modifications, short-term lease exceptions, and financial statement presentation and disclosures.

Key Topics Covered:

Overview of Lease Accounting (ASC 842)
Classification of Leases (Finance vs. Operating)
Initial Recognition and Measurement of Lease Liabilities and ROU Assets
Lease Amortization and Interest Expense Recognition
Lease Modifications and Reassessment
Short-Term Lease and Low-Value Asset Exceptions
Financial Statement Presentation and Disclosure Requirements
This course equips CPA candidates with the technical knowledge needed to properly account for leases as a lessee, ensuring compliance with GAAP and financial reporting standards while preparing them for lease-related questions on the CPA FAR exam.