Preface IX About the Authors XIII 1 Introduction to Applied Professional Research 1 What is Research? 2 Research Questions 3 Nature of Professional Research 5 Critical Thinking and Effective Communication 7 Economic Consequences of Standards Setting 7 Role of Research in the Accounting Firm 7 Skills Needed for the CPA Exam and Practice 9 Overview of the Research Process 11 Step One: Identify the Relevant Facts and Issues 11 Step Two: Collect the Evidence 12 Step Three: Analyze the Results and Identify the Alternatives 13 Step Four: Develop a Conclusion 14 Step Five: Communicate the Results 14 Data Analytics in Accounting and Auditing Research 14 Summary 16 Discussion Questions 16 Exercises 17 Appendix: Research Focus on the CPA Exam 17 2 Critical Thinking and Effective Writing Skills for the Professional Accountant 21 Critical Thinking Skills 21 Levels of Thinking 23 Universal Elements of Reasoning 26 An Example of Using Critical Thinking Skills 27 Effective Writing Skills 28 Writing as a Process 29 Punctuation Primer 30 Improved Writing Skills Required 33 Active Voice 33 Short Sentences 33 Definite Concrete Everyday Language 34 Tabular Presentation 34 Limited Jargon and Technical Terms 34 No Multiple Negatives 35 Elements of Plain English 35 Writing Effective Texts e-mails and Letters 36 Writing Memos to the File 37 Summary 38 Discussion Questions 38 Exercises 39 3 The Environment of Accounting Research 41 The Accounting Environment 41 The SEC and the Standard-Setting Environment 42 Rules-Based vs. Principles-Based Accounting Standards 43 Financial Accounting Standards Board 44 FASB Strives to Simplify Standards 45 Content of Authorities 45 FASB Due Process 46 FASB Conceptual Framework Project 48 Statements of Financial Accounting Concepts Nos. 1-8 49 American Institute of Certified Public Accountants (AICPA) 49 Governmental Accounting Standards Board 50 Other Organizations Influencing Standard Setting 52 U.S. Generally Accepted Accounting Principles (U.S. GAAP) 54 The FASB Accounting Standards Codification TM 55 Using Authoritative Support 56 Reading an Authoritative Pronouncement 57 Accounting Choices Have Economic Consequences 59 Summary 59 Discussion Questions 60 Exercises 60 4 Financial Accounting Research Tools 61 Accounting Research Online 62 Database Research Strategies 62 Step One: Define the Information Needed 62 Step Two: Determine the Sources to Search 62 Step Three: Use Appropriate Search Methods 63 Step Four: View the Results and Manage the Information 63 Step Five: Communicate the Search Results 63 FASB Accounting Standards CodificationTM Research System 63 The Research Process 65 Locating U.S.

GAAP Using the Codification 68 Examples Using the Codification 68 SEC Accounting for Public Companies 68 SEC Regulations and Sources 69 The SEC''s Published Views and Interpretations 70 SEC Staff Policy 71 Accessing SEC Filings and Regulations 72 Cases to Practice Accounting Research 74 Data Analytics for the Accounting Researcher 74 Summary 75 Discussion Questions 75 Exercises 76 Knowledge Busters: The Codification 78 Appendix: CPA Exam--Financial Accounting Simulations 81 Document Review Simulation 84 5 The Environment of International Research 86 International Accounting Environment 86 International Accounting Standards Board (IASB) 88 IASB Authorities 90 IASB Due Process 91 Interpretations Committee Due Process 92 IASB''s Conceptual Framework 92 Principles-Based Accounting Standards 93 IFRS Funding Regulation and Enforcement 94 International Financial Reporting Standards (IFRS) Research 95 IFRS Hierarchy 95 Electronic International Financial Reporting Standards (eIFRS) 96 Summary 100 Discussion Questions 100 Exercises 101 Knowledge Busters 102 6 Other Research Databases and Tools 103 Other Database Research Strategies 103 Step One: Define the Information Needed 104 Step Two: Determine the Sources to Search 104 Step Three: Use Search Techniques and Tools 105 Step Four: View the Results and Manage the Information 105 U.S. Accounting Research Tools 106 Leading Publishers of Global Financial Information 106 Commercial Accounting Databases 107 AICPA''s Reference Sources 108 U.S. Government Accounting Databases 108 GASB''s Government Accounting Research SystemTM (GARS Online) 109 Federal Accounting Standards Advisory Board Handbook of Authorities 109 Financial Research Databases 109 S&P Capital IQ 111 Mergent Online 112 Thomson ONE 113 Other Financial Databases and Sources 113 Financial Research Challenges 114 Business Research Databases and Tools 115 Article Index Databases 115 International Business Sources 116 Specialized Research 116 Massive Legal Research Databases 117 LexisNexis and its Lexis Advance 117 Nexis UniTM Replaces LexisNexis Academic 118 Westlaw 119 Emerging Legal Databases: Bloomberg Law and Fastcase 119 Summary 120 Discussion Questions 120 Exercises 121 Appendix 6A-1: Website Addresses 122 7 Tax Research for Compliance and Tax Planning 124 Tax Planning Concepts and Tax Research Goals 124 Tax Research Goals 125 Tax Research Challenges 126 Specialized Tax Research Databases 127 Thomson Reuters Checkpoint® 128 Primary Tax Authorities 128 The Code 129 Treasury Regulations 131 Steps in Conducting Tax Research 137 Step One: Investigate the Facts and Identify the Issues 137 Step Two: Collect the Appropriate Authorities 137 Step Three: Analyze the Research 140 Step Four: Develop the Reasoning and Conclusion 142 Step Five: Communicate the Results 143 Evolving Professional Concerns and Changes 145 Professional Standards for Tax Services 147 Data Analytics in Tax Research 149 Summary 150 Discussion Questions 150 Exercises 150 Knowledge Busters 153 Appendix 7A-1: Website Addresses 154 8 Assurance Services and Auditing Research 155 Assurance Services 156 Consulting Services and Standards 156 Attestation Services and Standards 158 Auditing Standard-Setting Environment 160 Auditing Standard-Setting Process 161 Auditing Standards Board (ASB) 161 Public Company Accounting Oversight Board (PCAOB) 165 International Auditing & Assurance Standards Board (IAASB) 167 AICPA Online Professional Library 167 AICPA Code of Professional Conduct 169 Auditing Standards in the Public Sector 171 RIA Checkpoint 172 Compilation and Review Services 174 Role of Judgment and Professional Skepticism in Accounting and Auditing 175 Economic Consequences 175 Data Analytic in Auditing Research 176 Summary 177 Discussion Questions 177 Exercises 178 Data Analytics Cases 178 Appendix: CPA Exam Audit Simulation 179 9 Refining the Research Process 181 Method for Conducting Research 181 Step One: Identify the Issues or Problems 183 Step Two: Collect the Evidence 184 Step Three: Analyze the Results and Identify Alternatives 188 Step Four: Develop a Conclusion 188 Step Five: Communicate the Results 189 Lessons Learned for Professional Practice 190 Remain Current in Knowledge and Skills 190 International Complexities in Practice 192 Developing Professional Skills Needed for Practice 192 Summary 193 Discussion Questions 193 Exercises 193 Appendix 9A-1: Sample Brief Memorandum Using IFRS 194 RE: Sony''s Goodwill and Segment Reporting 194 Facts 194 Issues 194 Conclusions 195 Authorities on goodwill 195 Authorities on segment disclosure 195 Application of authorities 196 Appendix 9A-2: Abbreviations and Websites for Accounting Auditing and Tax 196 10 Forensic Accounting Research 202 Definition of Fraud 203 Types of Fraud 204 The Fraud Triangle 206 Overview of a Financial Statement Fraud Examination 207 Step One: Identify the Issue and Plan the Investigation 209 Step Two: Gather the Evidence and Complete the Investigation Phase 209 Step Three: Evaluate the Evidence 210 Step Four: Report Findings to Management or Legal Counsel 210 Business Investigations 211 Computer Technology in Fraud Investigations 212 Data-Mining Software 212 Data Analytics 213 Public Databases 214 The Internet 217 Fraud Investigation Regulations 217 Summary 218 Discussion Questions 218 Exercises 218 Index 219.