Study Plans
The 8-Week CPA FAR Study Plan (Using Only Free Tools)
By Burak Genc · June 2026 · 8 min read
FAR's difficulty isn't conceptual depth, it's sheer surface area. Financial statements, consolidations, governmental funds, bonds, leases, deferred taxes: each one is learnable on its own, but together they punish unstructured studying. The fix is a fixed map and a daily routine. This plan covers all 34 topics in our free FAR study guide in eight weeks at roughly 2–3 hours a day.
The daily structure
- First 10 minutes: clear the spaced repetition queue, your missed questions from previous days, resurfaced automatically.
- Main block: this week's lesson(s) plus their MCQs. For computational topics, work the examples on paper before you touch the questions, watching a calculation is not the same skill as performing one.
- Last 10 minutes: a handful of mixed questions from earlier sections so old material stays warm. (Why this works: see our spaced repetition guide.)
The week-by-week plan
Weeks 1–2: financial reporting foundations (Section 1)
Start with the financial statements themselves: balance sheet, income statement, comprehensive income, cash flows, and consolidations. Then move to the specialized frameworks, not-for-profit, government (the fund accounting trio), public company reporting, and special purpose frameworks. Don't skip NFP and government just because they feel niche: they're reliably tested, and most candidates underprepare them, which makes them cheap points for you.
Section 1 topics →Weeks 3–5: balance sheet accounts (Section 2)
This is the computational core of FAR: cash, receivables, inventory, PP&E, investments, intangibles, payables, debt, and equity. It takes three weeks because nearly every topic carries a calculation pattern you have to execute cold, depreciation methods, bond amortization tables, equity method mechanics, inventory cost flows. For each topic, work the lesson, do the examples by hand (not by eye), then drill MCQs to 80%+.
Section 2 topics →Weeks 6–7: select transactions (Section 3)
These are the judgment-heavy finishers: accounting changes and error corrections, contingencies, revenue recognition (ASC 606's five steps), income taxes (ASC 740 deferred tax logic), fair value, leases (ASC 842), and subsequent events. Revenue, leases, and deferred taxes are perennial heavyweight topics, give each a full day with extra question volume.
Section 3 topics →Week 8: mocks, weak spots, and taper
Take a full timed mock at the start of the week, drill what it exposes, then take a second mock mid-week. Keep the last two days light: review queue, formula flashcards, sleep. FAR is a stamina exam as much as a knowledge exam, arriving rested is a scoring decision.
FAR mock exam →Three FAR-specific rules
- Do the math by hand, every time. FAR's wrong answer choices are built from specific calculation mistakes. The only defense is having run the calculation enough times that your hands know the steps. Reading solutions builds recognition; FAR tests execution.
- Journal entries are your universal debugger. Stuck on a topic, equity method, bond discounts, deferred taxes? Write the journal entries. If you can't write the entry, you've found the exact edge of your understanding, which is precisely where you should be studying.
- Don't let Section 2 eat the calendar. It's tempting to polish inventory costing for a fourth day while government accounting sits untouched. Covering the tested material broadly beats perfecting one corner of it, keep moving, and let the review queue maintain what you've already covered.
Milestones
- End of week 2: you can list the three government fund categories and their measurement focus without notes.
- End of week 5: bond amortization tables and the equity method hold no fear; nothing in Section 2 sits below 70%.
- End of week 7: all 34 topics quizzed at least once; ASC 606's five steps and deferred tax directionality are automatic.
- Week 8: mocks at 75%+ and a mostly-empty review queue.
All 34 FAR topics, free
Lessons, worked examples, 179+ MCQs with full explanations, mocks, and spaced repetition. No signup, no paywall.
Start Week 1 →CPA Exam Lab is an independent study resource published by Arc & Ledger LLC. It is not affiliated with, endorsed by, or sponsored by the AICPA® or NASBA. “CPA” is a registered trademark of the AICPA. This article is educational content, not professional advice, always verify exam logistics with NASBA and your state board of accountancy.