ACC-730, Financial Reporting Review Course, is a graduate accounting course at Southern New Hampshire University.
As its title indicates, it reviews financial accounting and reporting, the content tested in the FAR section of the Uniform CPA Examination. SNHU's detailed catalog entry for this course is not publicly available, so use your syllabus for its outcomes, prerequisites and grading.
FAR is known for breadth. A single review covers the conceptual framework, dozens of balance sheet accounts, complex transactions and governmental and not-for-profit reporting. Students rarely struggle with any one idea; they struggle with volume, speed and remembering the rules for topics they last studied a year ago.
Course at a Glance
| Item | Details |
|---|---|
| University | Southern New Hampshire University (SNHU) |
| Course code | ACC-730 |
| Level | Graduate (700-level) |
| Subject area | Financial accounting and reporting review |
| Related exam section | FAR (Financial Accounting and Reporting) |
| Typical work | Practice questions, simulations, review quizzes |
FAR Content Areas
The AICPA's FAR blueprint is organized into three broad areas, a practical structure for any financial reporting review:
| FAR area | Examples of what it covers |
|---|---|
| Financial reporting | General-purpose financial statements, public company reporting topics, not-for-profit and state and local government reporting |
| Select balance sheet accounts | Cash, receivables, inventory, property and equipment, intangibles, payables, debt, equity |
| Select transactions | Revenue recognition, leases, accounting changes and error corrections, contingencies, subsequent events, fair value |
High-Yield Topics Explained
Revenue Recognition in Five Steps
ASC 606 asks you to identify the contract, identify performance obligations, determine the transaction price, allocate it to the obligations and recognize revenue as each obligation is satisfied.
Example: A company sells equipment with one year of support for $12,000. Standalone prices are $10,800 for equipment and $1,200 for support, totalling $12,000, so the allocation is $10,800 and $1,200. Equipment revenue is recognized on delivery; support revenue of $100 a month is recognized over the year.
Bonds and the Effective Interest Method
Interest expense equals the carrying amount times the market rate at issue. The difference from the cash coupon amortises the discount or premium.
Example: A bond with a $100,000 face value and a 6% annual coupon is issued for $95,000 when the market rate is 7%. First-year interest expense is $95,000 x 7% = $6,650. Cash paid is $6,000, so $650 of discount is amortised and the carrying amount rises to $95,650.
Accounting Changes
Changes in principle are generally applied retrospectively, changes in estimate prospectively, and corrections of errors by restating prior periods. Questions often test which category a scenario falls into.
Governmental Funds Versus Government-Wide Statements
Governmental funds use the modified accrual basis and the current financial resources focus, so they record capital outlays as expenditures and debt proceeds as other financing sources.
Government-wide statements use full accrual and the economic resources focus, so the same transactions appear as capital assets and long-term liabilities. Reconciling the two is a favorite FAR task.
Example: A city issues $2 million of bonds to build a library and spends $1.5 million this year. In the capital projects fund, it reports $2 million of other financing sources and $1.5 million of expenditures. In the government-wide statements, it reports a $1.5 million capital asset (construction in progress) and a $2 million bond liability, with no expense for the construction itself.
Planning a FAR Review
Because FAR is broad, plan by area rather than by chapter. Begin with a diagnostic quiz, rank topics by weakness and weight, and spread revision so that every topic is revisited at least twice.
Keep a formula and rule sheet that you rewrite from memory each week; the act of rewriting is what makes the rules stick. Practice simulations regularly, since they test whether you can work from documents, not just recognize the right multiple-choice answer.
Typical Assignments and How to Approach Them
| Assignment type | What it tests | How to approach |
|---|---|---|
| Practice question sets | Recall and speed | Time yourself and review every explanation |
| Simulations | Applying rules to exhibits | Read the requirement first, then pull figures from the exhibits |
| Journal entry tasks | Technical accuracy | Write the entry, then check its effect on each statement |
| Research questions | Finding guidance | Practice locating topics in the Codification quickly |
Where Students Get Stuck
- Governmental reporting. Fund statements and government-wide statements use different bases; learn when each applies.
- Leases. Lessee classification and measurement under ASC 842 need regular practice.
- Accounting changes. Memorize retrospective versus prospective treatment.
- Time management. Long calculations can eat time; practice under exam-style limits.
Study Tips for ACC-730
- Use the current FAR blueprint from the AICPA as your master checklist.
- Rotate topics daily so nothing goes untouched for long.
- Rework every missed question a week later.
- Build short summary tables for governmental and not-for-profit rules.
How We Help with ACC-730
Send your syllabus, weak areas, practice results and any written assignments. A financial reporting tutor can explain topics, prepare study notes and worked problems, or review written work. We do not take quizzes or exams for students. See our accounting assignment help guide for more.
GradeEssays is independent of Southern New Hampshire University and of the AICPA. Our help is tutoring and study material; graded work must be your own under SNHU's academic integrity policy. Orders are written from scratch and refunded in full if late.
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Frequently Asked Questions
No. It is an SNHU course whose title shows it reviews financial reporting, the content of the FAR section.
The AICPA blueprint groups FAR into financial reporting, select balance sheet accounts, and select transactions.
Yes. State and local government and not-for-profit reporting are part of the financial reporting area.
Follow your course schedule and align extra practice with the current AICPA blueprint.
It varies, but leases, governmental reporting and accounting changes are common trouble spots.
No. We explain topics and prepare study material, but you must complete graded assessments yourself.