Assets and liabilities of disposal groups are reported separately in the balance sheet. Also, all major classes of assets and liabilities held for sale are separately disclosed on the balance sheet or in the notes.

The CPA Financial Accounting and Reporting (FAR) section covers US GAAP, IFRS, and governmental accounting, focusing on financial statement preparation, balance sheet accounts, and complex transactions.

Key concepts include revenue recognition (ASC 606), leases (ASC 842), business combinations, bonds, inventory, and governmental accounting, with a 50/50 mix of MCQs and simulations.