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WELCOME. PLEASE START HERE!
1. Welcome to Farhat Lectures -
2. How to Use This Course & Resources
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3. Choosing the Right CPA Discipline
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4. CPA Exam Study Tips & Common Questions
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🚀Introduce Yourself1 Topic
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🚨🚨🚨2026 AICPA Released Questions1 Topic
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Study Unit 1: Data Analytics📖The types of Data and the 4 Vs4 Topics1 Quiz
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📖Data Visualization & Transformation4 Topics2 Quizzes
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📖Primary and Foreign Key3 Topics1 Quiz
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Study Unit 2: Financial statement analysis📖Introduction of Financial Statement Analysis2 Topics
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📖Horizontal & Vertical Analysis2 Topics
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📖Financial Ratio Analysis8 Topics
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📖Market/Investor Ratios2 Topics2 Quizzes
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📖Comprehensive Practice Financial Statement Analysis5 Topics
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🎯Comprehensive Test ratios: AICPA Questions2 Quizzes
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🚨🚨HOW TO SOLVE SIMULATIONS (TUTORIAL + VIDEO EXAMPLES)✅ BAR CPA Exam Simulation Tutorial + 2024 and 2025 AICPA Video Questions. Gleim10 Topics2 Quizzes
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Study Unit 3: Nonfinancial and Non-GAAP Measures of Performance📖Benchmarking2 Topics
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📖Balanced Scorecard5 Topics1 Quiz
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📖The 4 Costs of Quality4 Topics1 Quiz
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📖Control & Pareto charts4 Topics
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📖Fishbone2 Topics
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📖Non-GAAP Measures2 Topics1 Quiz
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📖Performance Measurements2 Topics
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📖Return on Investment (ROI)4 Topics1 Quiz
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📖Residual Income5 Topics1 Quiz
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📖Return on Equity (ROE)2 Topics
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🎯Comprehensive Test: Responsibility Accounting + Previously Released AICPA Questions2 Quizzes
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💡Projection Techniques4 Topics1 Quiz
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🎯Comprehensive Test: Projection Techniques1 Quiz
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Study Unit 4: Costing Fundamentals📖Manufacturing Costs4 Topics2 Quizzes
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📖Product Cost Vs Period Cost4 Topics1 Quiz
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📖Cost Of Goods Manufactured4 Topics
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📖Fixed, Variable & Mixed costs4 Topics1 Quiz
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📖Estimating Fixed & Variable Cost – High Low4 Topics1 Quiz
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📖Joint Product Costing & By-product2 Topics3 Quizzes
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📖Absorption & Variable Costing9 Topics3 Quizzes
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📖Segmented Income Statement Traceable & Common Fixed Cost5 Topics1 Quiz
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📖Break-Even & Common Errors3 Topics1 Quiz
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📖Target Costing2 Topics
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📖CVP Analysis2 Topics
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📖Contribution Margin Ratio2 Topics
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📖Cost Volume Profit Application6 Topics1 Quiz
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📖Target & Cost Volume Profit Analysis3 Topics1 Quiz
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📖Margin Of Safety3 Topics1 Quiz
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📖Break-Even For Multi-Product4 Topics1 Quiz
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📖Cost Structure & Profit Stability2 Topics
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📖Break-Even Point & Target Profit3 Topics1 Quiz
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📖Degree Of Operating Leverage (DOL)4 Topics1 Quiz
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🎯Comprehensive Test for: Cost Accounting Concepts + Previously released AICPA Questions2 Quizzes
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🎯AICPA Questions: Absorption vs Contribution Costing1 Quiz
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🎯Comprehensive Test: Cost Volume Profit Analysis + AICPA Practice Questions2 Quizzes
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Study Unit 5: Costing Systems📖Job Order Costing5 Topics
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📖Cost Flow In Job Order Costing5 Topics
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📖Under-Applied Overhead & Over-Applied Overhead5 Topics1 Quiz
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📖Process Costing (Weighted Average)3 Topics
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📖Process Costing (FIFO)9 Topics2 Quizzes
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📖Activity-Based Costing11 Topics2 Quizzes
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🎯Comprehensive ABC, Direct and Full (absorption) Costing2 Quizzes
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Study Unit 6: Budgeting📖What Is A Budget & Role Of Budgets2 Topics1 Quiz
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📖Budgetary Process3 Topics1 Quiz
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📖Types Of Budgets2 Topics1 Quiz
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📖Zero Based Budgeting & Rolling Budget2 Topics1 Quiz
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📖Activity Based Budgeting2 Topics1 Quiz
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📖Master Budget and Related Schedules10 Topics2 Quizzes
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📖Production Budget6 Topics1 Quiz
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📖Flexible Budget & Performance Analysis7 Topics2 Quizzes
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📖Variances Using Journal Entries6 Topics
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📖Variable & Fixed Overhead Variances4 Topics2 Quizzes
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📖Direct Material & Labor Variance Analysis6 Topics2 Quizzes
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🎯AICPA Questions: Budgeting2 Quizzes
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🎯Comprehensive Test Variance Analysis + Previously Released AICPA Questions2 Quizzes
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Study Unit 7: Capital Structure📖Capital Structure Components2 Topics1 Quiz
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📖Cost of Capital Components4 Topics1 Quiz
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📖Capital Structure and the Weighted Average Cost of Capital6 Topics1 Quiz
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📖Bond Yield and Risk Premium (BYRP)2 Topics1 Quiz
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📖Growth, Profitability, and Financial Leverage5 Topics1 Quiz
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🎯AICPA Questions: Capital Structure1 Quiz
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Study Unit 8: Financial Valuation📖Asset Valuation6 Topics
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📖Valuation using Accounting estimates2 Topics1 Quiz
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📖Bonds Valuation2 Topics
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📖Basics of Stock Options.2 Topics
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📖Common Stock Valuation8 Topics3 Quizzes
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STUDY UNIT 8-1: FINANCIAL DECISION MODELS📖Capital Budgeting7 Topics1 Quiz
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📖What Is Capital Budgeting?2 Topics1 Quiz
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📖Net Present Value (NPV)5 Topics1 Quiz
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📖Depreciation Tax Shield2 Topics
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📖Internal Rate Of Return IRR6 Topics
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📖Payback & Discounted Payback Period5 Topics
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📖Accounting Rate Of Return ARR & Average Accounting Return AAR3 Topics
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📖Profitability Index6 Topics
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📖Buy versus Lease NPV2 Topics
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📖Economic Value Added (EVA)2 Topics
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STUDY UNIT 8-2: MARGINAL ANALYSIS📖Relevant and Irrelevant Cost3 Topics2 Quizzes
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📖Add or Drop A Segment5 Topics1 Quiz
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📖Make Or Buy Component Analysis5 Topics1 Quiz
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📖Accepting Or Rejecting Special Order4 Topics1 Quiz
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📖Utilization Of A Constrained Resource3 Topics1 Quiz
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📖Sell Or Process Further Decisions5 Topics1 Quiz
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🎯 Previously Released AICPA Questions: Securities Valuation1 Quiz
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🎯Comprehensive Test: Capital Budgeting + AICPA Previously Released Questions2 Quizzes
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🎯Comprehensive Test: Marginal (differential) + Analysis + AICPA previously Released Questions2 Quizzes
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Study Unit 9: COSO Enterprise Risk Management and Derivatives📖Governance and Culture ERM4 Topics
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📖Performance and Risk Severity4 Topics
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📖Information, Communication and Reporting (ERM)4 Topics2 Quizzes
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🎯Comprehensive Test: Enterprise Risk Management Framework ERM1 Quiz
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Study Unit 10: Mitigating Financial Risks📖Trade-offs Between Risk and Return2 Topics
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📖Financial Risks2 Topics1 Quiz
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📖Systematic and Unsystematic Risk2 Topics1 Quiz
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📖Time Value of Money3 Topics1 Quiz
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📖Present Value Of Single Amount4 Topics2 Quizzes
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📖Present Value Of Annuity4 Topics
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📖Future Value Of Annuity5 Topics1 Quiz
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📖Present Value Of Bond Computation & Deferred Annuity4 Topics
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📖Mitigating exchange rate risk4 Topics
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STUDY UNIT 10-1: WORKING CAPITAL MANAGEMENT📖Cash and Receivables8 Topics3 Quizzes
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📖Economic Order4 Topics
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📖Accounts Payable Management4 Topics3 Quizzes
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📖Letter Of Credit2 Topics
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📖Short Term Versus Long Term Financing2 Topics1 Quiz
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🎯AICPA previously released Questions: Working Capital Management1 Quiz
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STUDY UNIT 11-1: INTERNATIONAL BUSINESS OPERATIONS📖International Trade2 Topics1 Quiz
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📖International Operations6 Topics3 Quizzes
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STUDY UNIT 11-2: MARKET INFLUENCES ON BUSINESS📖Law of Demand & supply4 Topics2 Quizzes
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📖Market influences2 Topics1 Quiz
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📖Elasticity8 Topics2 Quizzes
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📖Inflation4 Topics2 Quizzes
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📖Industry Factors4 Topics1 Quiz
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📖The Economic Effect of Significant Transactions4 Topics2 Quizzes
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📖SWOT Analysis2 Topics1 Quiz
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🎯Comprehensive Test: Economics Questions + AICPA Previously Released Questions3 Quizzes
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STUDY UNIT 12-1: REVENUE RECOGNITION📖Percentage of Completion Method Losses5 Topics
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📖Revenue Recognition Principle5 Topics2 Quizzes
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📖Contract Modification3 Topics
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📖Revenue Recognition9 Topics
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📖Cost Recovery Method for Revenue Recognition1 Topic2 Quizzes
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📖Accounting for Sales on Consignment1 Topic
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📖Sales Reconciliation2 Topics
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📖Revenue Recognition CPA Exam Simulation & Questions2 Topics2 Quizzes
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STUDY UNIT 12-2: DERIVATIVES & HEDGE ACCOUNTING📖Hedge Accounting3 Topics
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📖Speculations3 Topics
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📖Fair Value Hedge4 Topics
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📖Cash Flow Hedge4 Topics
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📖Hedging Effectiveness5 Topics2 Quizzes
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🎯Comprehensive Test: Revenue recognition1 Quiz
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🎯Test: Derivatives and Hedging AICPA Questions1 Quiz
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STUDY UNIT 13-1: LEASES📖Introduction to Accounting for Leases5 Topics2 Quizzes
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📖Leases7 Topics
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📖Residual Value for Leases2 Topics
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📖Lessor Accounting3 Topics1 Quiz
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📖Accounting for Leases Sales5 Topics5 Quizzes
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STUDY UNIT 13-2: FINANCIAL STATEMENTS OF EMPLOYEE PENSION PLAN📖Financial Statements of Employee benefit plans2 Topics1 Quiz
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🎯Test: Leases AICPA Questions1 Quiz
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🎯Test: Pension plans AICPA questions1 Quiz
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STUDY UNIT 14-1: BUSINESS COMBINATIONS & CONSOLIDATED FINANCIAL STATEMENTS📖Business Combination6 Topics2 Quizzes
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📖Consolidated Financial Statements4 Topics3 Quizzes
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STUDY UNIT 14-2: CONSOLIDATED FINANCIAL STATEMENTS📖Foreign currency issues on Consolidated Financial Statements10 Topics3 Quizzes
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STUDY UNIT 14-3: SEGMENT REPORTING & PUBLIC COMPANY REPORTING📖Segment Reporting3 Topics1 Quiz
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📖Extensible Business Reporting Language (XBRL) & regulation6 Topics3 Quizzes
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🎯Test: Business Combinations and Consolidations + AICPA Questions1 Quiz
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🎯Comprehensive Test: SEC requirements and Reportable Segments1 Quiz
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STUDY UNIT 15-1: INTANGIBLES📖Intangible Assets6 Topics2 Quizzes
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📖Impairment Of Intangibles3 Topics
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📖Goodwill7 Topics2 Quizzes
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📖Internally developed computer software1 Topic1 Quiz
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📖Research & Development costs6 Topics1 Quiz
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📖Start-Up & Initial Operating Losses4 Topics
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STUDY UNIT 15-2: STOCK COMPENSATION📖Stock Options6 Topics3 Quizzes
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📖Share-based payments2 Topics2 Quizzes
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🎯Test: Intangibles Assets and Software Cost3 Quizzes
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🎯Test: stock compensation1 Quiz
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STUDY UNIT 16-1: GOVERNMENTAL ACCOUNTING📖Basis of Accounting4 Topics
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📖Governmental Funds7 Topics
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📖Component Units2 Topics1 Quiz
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STUDY UNIT 16-2: FORM & CONTENT OF THE ANNUAL COMPREHENSIVE ANNUAL FINANCIAL REPORT📖Annual Financial Reports2 Topics1 Quiz
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📖Management’s Discussion and Analysis2 Topics
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📖Notes to the FS – Governmental Accounting4 Topics1 Quiz
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STUDY UNIT 16-3: BUDGETARY, ENCUMBRANCES & ACTIVITY ACCOUNTING📖Budgetary Accounting3 Topics
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📖Encumbrances3 Topics2 Quizzes
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📖Classification of fund balance2 Topics1 Quiz
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Study Unit 17: Governmental Accounting — Funding and Transactions:📖Elements Of Governmental Financial Statements2 Topics
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📖Revenue Recognition For Governmental Accounting3 Topics1 Quiz
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📖Nonexchange Revenue Recognition2 Topics
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📖Governmental Grants | On Behalf Payments | Revenue Recognition3 Topics
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📖Governmental Revenue Recognition Sales Of Assets | Permits & Licenses Revenues2 Topics
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📖Interfund Governmental Activities3 Topics
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📖Expenditures vs. Expenses2 Topics
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📖Materials & Supplies: Consumption Vs Purchases Method3 Topics
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📖Expenditures For Capital Asset, Interest, Principal & Capital/Operating Lease2 Topics
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📖Nonexchange Expenditures2 Topics
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STUDY UNIT 18-1: GOVERNMENTAL FUNDS & FINANCIAL STATEMENTS📖Special Revenue Funds2 Topics1 Quiz
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📖Debt Service Funds2 Topics1 Quiz
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📖Capital Project Funds3 Topics1 Quiz
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📖Permanent Funds2 Topics1 Quiz
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📖Fund Financial Statements4 Topics1 Quiz
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STUDY UNIT 18-2: GOVERNMENT WIDE FINANCIAL STATEMENTS📖Government wide Financial Statements4 Topics1 Quiz
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📖Net Position In Governmental Accounting2 Topics1 Quiz
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📖Reconciliation Government Wide Financial Statements Assets7 Topics2 Quizzes
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STUDY UNIT 18-3: PROPRIETARY FUNDS REPORTING📖Proprietary Funds Financial Statements6 Topics2 Quizzes
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📖Cash Flow Statement for Proprietary Funds4 Topics2 Quizzes
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STUDY UNIT 18-4: FIDUCIARY FUNDS REPORTING📖 Fiduciary Funds Financial Statements5 Topics2 Quizzes
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📖Governmental Funds Examples2 Topics
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🎯Test: Government Accounting and Reporting + AICPA Questions1 Quiz
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Responses
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Hello Adam,
Please can you mention which question are you referring to ?
Farhat Lectures Support Team
Hello Adam,
You’re correct, and I appreciate your thoroughness in considering both approaches. While it’s true that the Future Value of $1 table can be used, in this context, the question specifically asks for the amount Lyan should invest now to achieve a future value of $5000 after four years.
Using the Future Value of $1 table would entail finding out how much $1 invested today would grow to in four years at 7% interest. This gives the future value of $1, but it doesn’t directly provide the present value of a future amount, which is what we need in this case.
The Present Value of $1 table directly provides the value of a future amount in present terms, which aligns with the question’s requirement of determining the amount Lyan needs to invest now.
So while both tables can theoretically yield the same result, the Present Value of $1 table is the more appropriate choice for this specific question, as it directly provides the present value of a future amount, aligning with the question’s requirements.
Farhat Lectures Support Team
https://farhatlectures.com/members/cyndee-jackson/
Based on the wording of the question, why is n=10 and not 20 (since the interest is paid semiannually)?
Hello Cyndee,
If the question had said ten years of semiannual payments, then you would use n = 20. Here it says ten semiannual payments, so it’s 10 total payments.
Based on the question’s wording, ten semiannual payments means 10 periods, not 20. That’s why n = 10 is appropriate.
The “semiannual” part is handled by adjusting the rate per period, not by doubling the number of payments. Since the discount rate given is 6% annually, the semiannual rate is 3% per period (6% ÷ 2).
Hope this makes sense!
#5 While this question seems to be easier, some people may struggle to understand it. The question does not state Melania’s age; as a result, this can confuse future users to answer this question. If Melania is 2 years old, then we have five periods instead of seven.
Hello Christopher,
You are correct! The wording is confusing because the question does not clearly tell us that the $500,000 gift will be received 7 years from today.
I’ve updated the question to remove the ambiguity.
Thank you for bringing this to our attention!