Declaration date:Db R/ECr C/S distributableCr APIC (based on FV date of declaration)Distribution Date:Db C/S distributableCr C/S

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.