The amount is increased by the excess of the replacement forest land's cost over the condemned forest land's carrying amount. - you recognized a gain when the forced conversion occurs, then you capitalize the new forest land.

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.