The Financial Accounting examination covers skills and concepts that
are generally taught in a first-semester undergraduate financial
accounting course. Questions on the exam require you to demonstrate
knowledge of accounting concepts and terminology, and ability to use
and analyze accounting data and financial reports issued for both
internal and external purposes. In addition, you need to demonstrate
the ability to apply accounting techniques to simple problem
situations involving computations, and understand the rationale for
generally-accepted principles and procedures.