Thomas R. Weirich - Accounting and Auditing Research and Databases. Practitioners Desk Reference

Copyright 2012 by Thomas R. Weirich, Natalie Tatiana Churyk, and Thomas C. Pearson. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

Includes portions of modified and updated text from Wiley's Accounting & Auditing Research: Tools & Strategies, Seventh Edition, by Thomas Weirich, Thomas Pearson, and Natalie Churyk.

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Library of Congress Cataloging-in-Publication Data:

Weirich, Thomas R.

Accounting and auditing research & databases: practitioner's desk reference/Thomas R. Weirich, Natalie T. Churyk, and Thomas C. Pearson.

p. cm.

Includes index.

ISBN 978-1-118-33442-3 (cloth); ISBN 978-1-118-41687-7 (ebk.); ISBN 978-1-118-42007-2 (ebk.); ISBN 978-1-118-43398-0 (ebk.)

1. AccountingResearch. 2. AuditingResearch. 3. AccountingData processing. 4. AuditingData processing. I. Churyk, Natalie T. II. Pearson, Thomas C. III. Title.

HF5630.W388 2012

657.072dc23

2012017194

I dedicate this book to my wife, Sharon, and five daughters, who have encouraged and supported my efforts as a professor and author.

Thomas R. Weirich

I dedicate this book to my family and friends who have supported me throughout my career.

Natalie T. Churyk

I dedicate this book to future professionals, such as my daughter, Alicia Rose Pearson.

Thomas C. Pearson

Preface

Accounting & Auditing Research and Databases: Practitioner's Desk Reference is an easy-to-use, do-it-yourself reference book on accounting and auditing research and databases. The treatise focuses on practical aspects of professional accounting and auditing research and databases.

The need for this treatise has arisen from an accounting and auditing environment in the United States that has recently encountered dramatic changes: U.S. GAAP is now consolidated in the FASB Accounting Standards Codification. Other accounting, auditing, and tax standards are quickly changing. Mastery of international financial reporting standards is also needed because of recognition of its standard setter, the International Accounting Standards Board (IASB), by the U.S. Securities and Exchange Commission. Finally, research databases are constantly evolving with new interfaces and technologies.

Practitioners must increasingly perform all types of research: accounting, auditing, tax, and business research. The ability to research effectively and efficiently is a major determinant of success in the profession. Therefore, Accounting & Auditing Research and Databases: Practitioner's Desk Reference is an invaluable guide to practical professional research. Through understanding the governing authorities and research methodologies, one is much better prepared for the future.

This work is focused on online databases, supplemented with information on essential tools for research and analysis. The subtitle, Practitioner's Desk Reference , synthesizes the treatise's teaching abilities. The book enables practitioners/researchers to discover justifiable authoritative solutions to accounting or auditing problems.

The professional book differs from the authors textbook on the subject, with more extensive discussion of the FASB and IASB structures, including the advisory boards, detailed research methods for the Codification and eIFRS, tax research sources, and types of audits. Also, we provide a search example utilizing the SEC's EDGAR database.

This treatise was created as a comprehensive, stand-alone reference tool for those who wish to become skilled in various professional research techniques and sources. Nearly every reader can acquire some benefit from the discussion here. In summary, Accounting & Auditing Research and Databases: Practitioner's Desk Reference is indispensable for learning and polishing professional research.

Chapter 1 introduces professional research and provides an overview of the research process. Chapter 2 explores the environment of financial research in the United States through the impact of the FASB and the SEC. Chapter 3 discusses the environment of international research through the IASB. Chapter 4 discusses other accounting and business research databases and tools. Chapter 5 discusses tax research for compliance and tax planning. Chapter 6 concludes by exploring assurance and auditing research.

Acknowledgments

The authors greatly appreciate the feedback of former professionals who have helped shape the contents of this book. The authors wish to thank the numerous accounting firms that will incorporate this book into their staff training.

We applaud entities granting copyright permission to use screen images to enhance the readers ability to understand, especially the AICPA, the Financial Accounting Standards Board, and the IASB Foundation. Various parts of this text have been adopted from Accounting and Auditing Research: Tools and Strategies , 7th edition, and Mastering the FASB Codification and eIFRS by the same authors. Mahalo is extended to the professional staff at John Wiley & Sons who have enhanced this desk reference.

Chapter 1

An Introduction to Applied Professional Research

Professional accountants, with their specialized knowledge and skills, attempt daily to solve a variety of complex client issues. However, the accounting profession, like other professions, is witnessing major changes due to developments in the law, new services, technologies, and an ever-increasing number of professional standards. In addition to accounting, auditing, and tax compliance services, accountants are involved in such services as attestation reviews, forensic accounting, fraud examinations, and tax planning. Even the types and nature of the problems facing accountants are changing and often becoming more complex. Professional accounting and auditing research is a critical skill for the practitioner. Knowledge of how to utilize major databases to gain an understanding of how to access the professional literature is essential in today's environment. The professional accountant must possess the knowledge to remain current and the skills to critically analyze various problems. Listening effectively, understanding opposing points of view, and applying professional judgment are also critical skills for accountants. Often one must present and defend his or her own views through formal and informal communications. Professional research and communication skills are vitally important in this environment.