Accounting and Auditing Research and Databases Practitioner's Desk Reference

THOMAS R. WEIRICH, PhD, CPA, is the Jerry and Felicia Campbell Endowed Professor of Accounting at Central Michigan University and former chair of its School of Accounting. He has served in the Office of the Chief Accountant at the U.S. Securities and Exchange Commission; as a consultant to the Public Oversight Board's Panel on Audit Effectiveness; and as an expert witness for the SEC and several other organizations. He has written numerous articles in professional journals.

NATALIE TATIANA CHURYK, PhD, CPA, is the Caterpillar Professor of Accountancy at Northern Illinois University. She is a contributor to the annual Wiley CPA Exam Review: Financial Accounting and Reporting and Wiley Focus Notes: Financial Accounting and Reporting. A frequent contributor to academic and professional journals, Dr. Churyk has received research grants from PricewaterhouseCoopers and the Institute of Management Accountants.

THOMAS C. PEARSON, LLM, JD, MBA, CPA, is a Professor of Accounting at the University of Hawaii at Manoa and former director of its School of Accountancy. Pearson has published a number of articles in professional and leading academic accounting journals and has won numerous teaching awards.

Preface

Acknowledgments

Chapter 1 An Introduction to Applied Professional Research

What Is Research?

Research Questions

Nature of Professional Research

Critical Thinking and Effective Communication

Economic Consequences of Standards Setting

Role of Research in the Accounting Firm

Overview of the Research Process

Step 1—Identify the Issues and Establish the Facts

Step 2—Collect the Evidence

Step 3—Analyze the Evidence and Identify the Alternatives

Step 4—Develop a Conclusion

Step 5—Communicate the Results

Lessons Learned for Professional Practice

Remain Current in Knowledge and Skills

International Complexities in Practice

Summary

Appendix 1: Abbreviations Commonly Used in Citations

Chapter 2 The Environment of United States Research – The SEC and the FASB

The Accounting Environment

SEC Accounting for Public Companies

SEC Regulations and Sources

SEC Releases

SEC Staff Interpretations

Accessing SEC Filings and Regulations

Example:

American Institute of Certified Public Accountants (AICPA)

U. S.  Generally Accepted Accounting Principles (U.S. GAAP)

The Financial Accounting Standards Board, Advisory Boards, and the Emerging Issue Task Force

Statements of Financial Accounting Concepts Nos. 1–8

FASB SFASs and ASUs

FASB Due Process

The Levels of U.S. GAAP and FASB Accounting Standards Codification^TM

Authoritative Level

Nonauthoritative Level

Locating U.S. GAAP

FASB Accounting Standards Codification^TM Research System (The Codification)

Codification ACCESS

Navigating the Codification

Browse Tab – Left Navigation Panel

The Codification

Other Sources

Browse Tab - Middle Screen

The Research Process

Master Glossary

Example:

Topical Categories

Example:

Keyword Search: Basic and Advanced

Basic

Advanced

Moving Within a Codification Search and Section Links

The Section Tabs: Document, Archive, and What Links Here

E-mail, Print, and Copy/Paste Functions

Summary

Chapter 3 The Environment of International Research

International Accounting Environment

International Accounting Standards Board (IASB)

Other Regional and National Standard-Setting Bodies and Organizations Influencing IFRS

IASB Authorities

IASB Due Process

Interpretations Committee Due Process

IASB’s Conceptual Framework

IFRS Funding, Regulation, and Enforcement

International Financial Reporting Standards (IFRS) Research

IFRS Hierarchy

eIFRS Access

Entering eIFRS

Left Navigation Panel

Subscribers Only

Registered Users

Other Information

Center Screen Area

Top Right Screen Area

IFRS Research Process

Terminology Lookup

Example

Glossary Search

Direct Search (Perusal of Standards)

Example

Basic Search

Advanced Search

Example

Print and Copy/paste functions

Summary

Chapter 4 Other Research Databases and Tools

Governmental Accounting Sources (FASAB and GASB)

Example

Other Databases for Accounting Authorities

Example

Researching Industries and Companies

Industry Codes

Example

Industry Research

Company Research

Major Databases

Mergent Online

Example

Example

LexisNexis

Standard & Poors NetAdvantage

Example

Other Databases

Example

Researching Corporate News

Research Tools

Research Strategies

Summary

Appendix 2: Checklist for Industry Research

Appendix 3: Checklist for Company Research

Appendix 4: Website Addresses

Chapter 5 Tax Research for Compliance and Tax Planning

Tax Research Databases

The Internal Revenue Code

Treasury Regulations

Other Administrative Authorities

Revenue Rulings and Revenue Procedures

Non- Precedential Authorities

Judicial Sources

Original Jurisdiction Courts

Steps in Conducting Tax Research

Step One: Investigate the Facts and Identify the Issues

Step Two: Collect the Appropriate Authorities

Step Three: Analyze the Research

Steps Four and Five: Develop the Reasoning, Conclusion, and Communicate

Example Tax Research Memo

Facts

Issue

Conclusion

Discussion of the Law

Application of the Law to the Facts

The Tax Research Environment

Individual Face-to-Face Tax Audits

Small Business Audits

Partnership Tax Audits

LB&I Tax Audits

Transfer Pricing and International Tax Audits

Audits of Specialized Industries

Pension Plan Audits

Employment Tax Audits

Estate Tax Audits

Exempt Organizations Examinations

Regulation of Tax Professionals

Summary

Appendix 5:  Selected Tax Websites

Chapter 6 Assurance/Auditing Research

Assurance Services

Consulting Services and Standards

Auditing Standard-Setting Environment

Attestation Services and Standards

Auditing Standards

Auditing Standard-Setting Process

Public Company Accounting Oversight Board

AICPA Online Professional Library Database

AICPA Code of Professional Conduct

Auditing Standards in the Public Sector

International Auditing Standards

Compilation and Review Services

Role of Judgment in Accounting  and Auditing

Economic Consequences

Summary

About the Authors

Index

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