The total future cash payments. - When a troubled debt restructuring includes a modification of terms that results in future undiscounted cash flows less than the carrying amount of the debt, the debtor recognizes a gain equal to the difference. No gain is recognized if the future undiscounted cash flows are greater than the carrying amount of the debt.

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.