Three ways to remain current in accounting knowledge and skills
What are using checklists, summarizing new authorities, reading periodicals, checking database updates, browsing web sites, reading accounting newsletters
100
Communication Skills make up between these percentages
10-20%
100
In tax research, Supreme Court decisions are this level of authority
What is Primary
200
Identifying keywords to be used in a literature search is part of this step
Step 2: Collect the evidence
200
If a hierarchy of authorities exists, a researcher should begin by examining here:
What is the highest level of authority present
200
This organization publishes a newsletter one a week
What is FASB
200
Your general accounting education helps most in this portion
Knowledge and Understanding
200
In auditing issues, Category B authority is made up of these
FASB Technical Bulletins and if cleared by the FASB, AICPA Statements of Position and AICPA Industry Audit and Accounting Guides
300
The five steps of the research process
What are Identify issue or problem, collect the evidence, analyze and evaluate alternatives, develop conclusion, communicate results and document
300
Nonauthoritative materials help in this way:
Help one understand primary authorities
300
Distributing brief information to staff members about new authorities would be part of this technique
Summarizing new authorities
300
Professional Judgment is part of this area
Application Skills
300
For auditing research, in the case of new transactions or events for which there are no established accounting principles, these types of transactions or events are looked for
Analagous
400
"Succinctly stating the problem in a way that will facilitate analysis and generate several keywords" is a part of this step
Step 1: Identify issue or problem
400
Conclusions should be supported with this type of analysis
What is logical, well-reasoned analysis
400
Keeping a list of clients that may be affected by an update to a code would be part of this technique
Use a checklist
400
Determining compliance with standards and noticing trends and variances are part of this Application Skills
What is Analysis
400
The highest authority in tax research comes from these two sources
What is the IRC and USC
500
The communication and documentation of results from the research process are communicated via one of these two documents
What are research memos or client letters
500
The three parts of collecting the evidence (step 2)
What are identify keywords, locate and examine relevant authorities, and review insightful nonauthorities
500
The AICPA produces its newsletter through this form of media
Online
500
Providing a formal letter to a client involves this skill
What is Communication/Written skill
500
In a tax research issue, your tax research book would be this type of authority