Intermediate Financial Reporting 2: CPA preparatory courses

Learn about the Intermediate Financial Reporting 2 CPA preparatory course.

If you are seeking admission to the CPA Professional Education Program (CPA PEP), you can take CPA preparatory courses to gain the knowledge requirements you are missing.

Intermediate Financial Reporting 2 is an instructor-facilitated (core) course that provides a continuation of Intermediate Financial Reporting 1, focusing on:

  • liabilities and equities
  • accounting for income taxes
  • leases
  • employee benefits
  • earnings per share
  • accounting changes

The syllabus provides detailed information on the content of the course as well as the other CPA preparatory courses. The examination blueprint outlines the structure and length of course final examinations. 

Note: Due to COVID-19, the assessment format for the August/September 2020 course examinations has been revised.

Prerequisite course

You must complete or receive exemption from Intermediate Financial Reporting 1 in order to take Intermediate Financial Reporting 2.


This course is delivered provincially — or, in some cases, regionally — on a part-time basis to offer maximum flexibility and accessibility. Refer to the CPA preparatory courses calendar for key core course dates and examination dates for core and non-core courses. Please contact your provincial/regional body to see which offerings are available in your area.

Note: Starting with the 2019/2020 academic calendar that begins November 2019, the semester course offering will change from a four-semester system to a five-semester system. You will have the opportunity to register for courses and their corresponding examinations separately.