Skills for Accounting Research, 4e

FASB Codification & eIFRS

by Collins, Salzman

| ISBN: 978-1-61853-315-9 | Copyright 2020

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Welcome to Skills for Accounting Research 4e!

Increasingly, accounting research and communication skills are being regarded as fundamental to success in accounting. Professionals who excel in these areas will likely experience a distinct competitive advantage relative to their peers. At the same time, in today’s highly regulated business climate, the consequences of inadequately researching and documenting accounting judgments can be severe (e.g., PCAOB or SEC enforcement actions). Recognizing the importance of research skills, research simulations are now a key component of the national CPA exam. What’s been missing, until now, is a high-quality, hands-on textbook that can teach students these important skills.

In this book, students will learn to confidently address and communicate accounting research issues, from start to finish. Students will not only take away the ability to identify the accounting problem (the “researchable question”), but will gain experience locating and applying guidance within key research tools (including the FASB Codification and eIFRS), in a variety of accounting environments. In learning to use these research tools, students will have the opportunity to apply guidance to a variety of actual accounting topics.
Recognizing that students cannot learn to research simply by reading about research, the textbook offers students numerous opportunities to actively apply chapter lessons, throughout each chapter. Students will come away from this book armed with the research and critical thinking skills necessary for success as accounting professionals.

Target Audience

Skills for Accounting Research, 4e, is intended to serve as the primary text for graduate and undergraduate courses dedicated to accounting research. The book may also be used to supplement materials used in an intermediate or advanced accounting course. Collins’ practical examples and exercises challenge students to actively learn while they read, moving them beyond simply understanding, to critically thinking about and applying accounting issues. The text also includes two chapters uniquely dedicated to effective professional documentation and communication. Practitioners and staff training programs can benefit from the research and communication strategies covered in this book.

FASB Codification Focus

Use of the FASB Codification as the key research tool throughout the text, including screenshots and primary source excerpts from the Codification, will give students an understanding of how research applies to the analysis of actual accounting issues and practical knowledge of how to use FASB guidance in their research efforts.

Provides Guidance on How to Effectively Search

Left to their own devices, students often default to using a “search” function in the Codification.  This text teaches students to utilize a “browse” approach, including teaching the organization of accounting guidance, that will result in much more effective searches.  No other text teaches students this method for efficiently searching accounting guidance.

Communication Strategies and Technical Writing Fundamentals

Research and communication techniques are presented in the context of actual technical issues, giving students extensive exposure to the accounting literature while learning professional research and writing skills. 

Two Chapters Dedicated to Effective Communication

Chapter 4 covers communicating in written form including drafting effective emails and preparing research memoranda. Chapter 13 covers creating and delivering effective presentations.

eIFRS

A chapter is dedicated to the understanding of the global standard setting environment, international accounting and auditing standards, and the relevance of these standards to U.S. accounting practitioners.

Now YOU Try

This feature offers students in-chapter opportunities to practice the skill being discussed.  It follows major topic areas and offers immediate reinforcement of the subject matter.

Exercises and Case Study Questions

At the end of each chapter, there are research exercises, as well as case study questions that provide students the opportunity to think critically about more involved, open-ended accounting issues.  Students will be required to identify the researchable question, research the issue, and practice technical writing skills in their responses.

Opening Vignettes

Each chapter begins with an opening vignette that uses chapter content in a scenario highlighting a research problem faced by a beginning researcher.  The intention is an immersive experience for the student at the outset of the topic, inspiring in students’ an enthusiasm for learning the topic.

myBusinessCourse

Additional assignments and video examples have been added to MBC.

New Standards

Includes strategies for navigating the revised revenue and lease topics and new assignments requiring students to research and interpret the new standards and to document and communicate their findings.

Codification

Presents updated screenshots of the Codification featuring the latest standards.  

Updated Detailed Research Example

The author presents a real research question involving baseball stadium concession sales (Lease? Revenues?) and integrates it throughout chapters 3 and 4. Students will follow this real world example through the research process culminating in a new chapter-end sample memo.

Case Studies

The text includes new, current and real-world case studies of varying difficulty level – including cases building upon the stadium example. Cases place increased emphasis on the use of professional judgment.

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Foreword (pg. iii)
About the Authors (pg. iv)
Preface (pg. v)
Brief Table of Contents (pg. xiii)
Contents (pg. xiv)
Chapter 1 Overview of Accounting Research (pg. 2)
Why Accounting Research Skills Matter (pg. 4)
What Is Accounting Research, and Why Is It Performed? (pg. 4)
In What Future Roles Might I Perform Accounting Research? (pg. 5)
Now [ YOU ] Try 1.1 Your Role as a Researcher (pg. 6)
When Is Accounting Research Performed? (pg. 6)
Researching a Proposed Transaction (pg. 7)
Now [ YOU ] Try 1.2 (pg. 8)
Researching a Past Transaction (pg. 8)
Research Performed After Financial Statement Issuance (pg. 9)
Now [ YOU ] Try 1.3 (pg. 9)
Research for the Purpose of Shaping Future Accounting Standards (pg. 10)
In What Environments Is Accounting Research Performed? (pg. 10)
Different Guidance for Each Research Environment (pg. 11)
Now [ YOU ] Try 1.4 (pg. 12)
Accounting Standard-Setting Bodies (pg. 12)
The Securities and Exchange Commission (pg. 12)
Now [ YOU ] Try 1.5 (pg. 13)
The American Institute of Certified Public Accountants (pg. 14)
The Financial Accounting Standards Board (pg. 14)
Now [ YOU ] Try 1.6 (pg. 14)
Now [ YOU ] Try 1.7 (pg. 15)
Now [ YOU ] Try 1.8 (pg. 15)
Chapter Summary (pg. 16)
Review Questions (pg. 16)
Exercises (pg. 17)
Case Study Questions (pg. 18)
Chapter 2 The FASB Codification: Introduction and Search Strategies (pg. 20)
What is the FASB Codification? (pg. 22)
Now [ YOU ] Try 2.1 (pg. 23)
What Sources of Guidance Were Used to Populate the Codification? (pg. 23)
Now [ YOU ] Try 2.2 (pg. 24)
How is the Codification Updated? (pg. 24)
Navigating The Codification (pg. 24)
How is Information Organized Within the Codification? (pg. 25)
Now [ YOU ] Try 2.3 (pg. 26)
Areas and Topics (pg. 26)
Now [ YOU ] Try 2.4 (pg. 27)
Subtopics (pg. 28)
Now [ YOU ] Try 2.5 (pg. 28)
Sections (pg. 28)
Now [ YOU ] Try 2.6 (pg. 33)
Subsections and Paragraphs (pg. 33)
Now [ YOU ] Try 2.7 (pg. 34)
Tips for Performing Browse Searches (pg. 35)
Join All Sections (pg. 35)
Navigating a Subtopic, Considering All Areas of “Required Reading” (pg. 36)
Now [ YOU ] Try 2.8 (pg. 38)
Other Search Methods (pg. 39)
Keyword Searches (pg. 39)
Now [ YOU ] Try 2.9 (pg. 42)
Now [ YOU ] Try 2.10 (pg. 43)
Search by ASC Reference Number (pg. 43)
Cross Reference Tab (pg. 44)
Master Glossary (pg. 44)
Pending Content and Effective Dates (pg. 45)
What is “Pending Content”? (pg. 45)
Now [ YOU ] Try 2.11 (pg. 45)
Understanding Effective Dates (pg. 46)
Now [ YOU ] Try 2.12 (pg. 46)
Private Company Accounting Alternatives in the Codification (pg. 47)
Now [ YOU ] Try 2.13 (pg. 47)
Chapter Summary (pg. 47)
Review Questions (pg. 47)
Exercises (pg. 49)
Case Study Questions (pg. 50)
Chapter 3 The Research Process (pg. 54)
Why Use A Research Process? (pg. 56)
The Accounting Research Process (pg. 56)
Pre-Step: Understand the Business (Industry) (pg. 57)
Now [ YOU ] Try 3.1 (pg. 59)
Step 1: Understand the Facts/Background of the Transaction (pg. 59)
Now [ YOU ] Try 3.2 (pg. 60)
Step 2: Define the Problem. That Is, Identify the “Researchable Question.” (pg. 61)
Now [ YOU ] Try 3.3 (pg. 62)
Now [ YOU ] Try 3.4 (pg. 62)
Step 3: Stop and Think: What Accounting Treatment Will Likely Be Appropriate? (pg. 62)
Step 4: Search Potentially Relevant Sources of Guidance, Copying Any Relevant Guidance into a Word (pg. 63)
Now [ YOU ] Try 3.5 (pg. 63)
Now [ YOU ] Try 3.6 (pg. 64)
Step 5: Analyze Alternatives, Documenting Your Consideration of Each (pg. 65)
Now [ YOU ] Try 3.7 (pg. 65)
Step 6: Justify and Document Your Conclusion (pg. 67)
Now [ YOU ] Try 3.8 (pg. 67)
Judgment And Decision Making-A Brief Introduction (pg. 67)
Common Biases (pg. 68)
Now [ YOU ] Try 3.9 (pg. 69)
Learn from Your Mistakes (and Successes!) (pg. 70)
Now [ YOU ] Try 3.10 (pg. 70)
Chapter Summary (pg. 70)
Review Questions (pg. 71)
Exercises (pg. 71)
Case Study Questions (pg. 73)
Additional References (pg. 75)
Chapter 4 Creating Effective Documentation (pg. 76)
Documentation Is Integral to Accounting Research (pg. 78)
Communicating Accounting Research (pg. 79)
Emailing the Results of Research Questions (pg. 79)
Now [ YOU ] Try 4.1 (pg. 81)
Drafting an Accounting Issues Memorandum (pg. 83)
Facts (pg. 84)
Now [ YOU ] Try 4.2 (pg. 85)
Issue(s) (pg. 86)
Analysis (pg. 86)
Now [ YOU ] Try 4.3 (pg. 89)
Now [ YOU ] Try 4.4 (pg. 90)
Now [ YOU ] Try 4.5 (pg. 91)
Now [ YOU ] Try 4.6 (pg. 92)
Financial Statement and Disclosure Impacts (pg. 93)
Reread Your Work Before Submitting (and what to look for) (pg. 93)
Now [ YOU ] Try 4.7 (pg. 94)
Properly Referencing Accounting Guidance (pg. 94)
How Do I Reference a Passage from the Codification? (pg. 94)
Now [ YOU ] Try 4.8 (pg. 95)
Should I Ever Use Footnotes in Professional Memos? (pg. 95)
When Should I Use Quotation Marks? (pg. 96)
When Is It Appropriate to Alter an Excerpt from the Guidance? (pg. 96)
When Is It Appropriate to Use Ellipses? (pg. 97)
Style Tips for Professional Communication (pg. 98)
Use Proper Voice in Your Memos (pg. 98)
Keep Your Language Neutral (Avoid Strong Words) (pg. 98)
Get the Grammar Right (pg. 99)
Getting Feedback On Your Writing (pg. 100)
Chapter 4 Appendix (pg. 101)
Sample Accounting Issues Memo (pg. 101)
Chapter Summary (pg. 105)
Review Questions (pg. 105)
Exercises (pg. 106)
Case Study Questions (pg. 108)
Chapter 5 Using Nonauthoritative Sources to Supplement Codification Research (pg. 110)
Nonauthoritative Guidance: What Is It, And How Is It Used? (pg. 112)
Now [ YOU ] Try 5.1 (pg. 113)
Benefits of Nonauthoritative Guidance (pg. 113)
Sources of Nonauthoritative Guidance (pg. 114)
FASB’s Conceptual Framework (pg. 114)
Now [ YOU ] Try 5.2 (pg. 115)
Now [ YOU ] Try 5.3 (pg. 115)
Now [ YOU ] Try 5.4 (pg. 116)
Now [ YOU ] Try 5.5 (pg. 117)
Accounting Standards Updates and Pre-Codification Standards (pg. 123)
Using Nonauthoritative Sources: There’s a Right Way, and a Wrong Way (pg. 138)
Is It Wrong to Cite Nonauthoritative Guidance Only? (pg. 140)
What’s the Right Way to Search Nonauthoritative Guidance? (pg. 140)
How Do I Reference Nonauthoritative Sources? (pg. 141)
Chapter Summary (pg. 141)
Review Questions (pg. 142)
Exercises (pg. 142)
Case Study Questions (pg. 144)
Chapter 6 Scope and Recognition Guidance: A Brief Introduction (pg. 146)
Scope Guidance: An Area Of Required Reading (pg. 148)
Applying Scope Guidance: A Few Examples (pg. 149)
Considering Scope, Glossary, and Interpretive Guidance (pg. 149)
Now [ YOU ] Try 6.1 (pg. 149)
Now [ YOU ] Try 6.2 (pg. 151)
Evaluating Subsections with Unique Scope Guidance: Nonmonetary Transactions (pg. 151)
Now [ YOU ] Try 6.3 (pg. 152)
Which Topic Applies?: Navigating Investments Topics (pg. 154)
Now [ YOU ] Try 6.4 (pg. 155)
Performing A Scope Test: Derivatives (pg. 156)
Evaluating Whether an Instrument Meets the Definition of a Derivative (pg. 156)
Now [ YOU ] Try 6.5 (pg. 156)
Recognition Guidance: A Brief Introduction (pg. 159)
Now [ YOU ] Try 6.6 (pg. 160)
Revenue Recognition: Navigating The REVISED MODEL (pg. 161)
Now [ YOU ] Try 6.7 (pg. 161)
Conceptual Definitions of Revenue (pg. 161)
Revised Model: Revenue from Contracts with Customers (ASC 606) (pg. 162)
Now [ YOU ] Try 6.8 (pg. 163)
Research Techniques for Navigating Revenue Guidance (pg. 163)
Now [ YOU ] Try 6.9 (pg. 166)
Now [ YOU ] Try 6.10 (pg. 167)
Now [ YOU ] Try 6.11 (pg. 167)
Now [ YOU ] Try 6.12 (pg. 168)
Now [ YOU ] Try 6.13 (pg. 169)
Now [ YOU ] Try 6.14 (pg. 170)
Applying Different Recognition Thresholds (pg. 171)
Uncertain Taxes: Recognize If More Likely Than Not (pg. 171)
Now [ YOU ] Try 6.15 (pg. 171)
Effective Settlement of a Tax Position (pg. 172)
Now [ YOU ] Try 6.16 (pg. 172)
Subsequent Events: Recognize If Conditions Existed at the Balance Sheet Date (pg. 174)
Now [ YOU ] Try 6.17 (pg. 175)
Applying Derecognition Guidance: Liability Extinguishments (pg. 176)
Now [ YOU ] Try 6.18 (pg. 177)
Now [ YOU ] Try 6.19 (pg. 178)
Chapter Summary (pg. 179)
Review Questions (pg. 179)
Exercises (pg. 180)
Case Study Questions (pg. 181)
Chapter 7 Using the Codification to Research Measurement Issues (pg. 184)
What is Accounting Measurement? (pg. 186)
Overview and Conceptual Background (pg. 186)
Measurement Attributes (pg. 186)
Now [ YOU ] Try 7.1 (pg. 187)
Now [ YOU ] Try 7.2 (pg. 187)
Where Can I Find Measurement Guidance? (pg. 188)
Now [ YOU ] Try 7.3 (pg. 189)
Who Performs Accounting Measurement In Practice? (pg. 190)
Initial Measurements (pg. 190)
Overview (pg. 190)
Applying Initial Measurement Guidance (pg. 191)
Now [ YOU ] Try 7.4 (pg. 192)
Now [ YOU ] Try 7.5 (pg. 194)
Subsequent Measurements (pg. 197)
Overview (pg. 197)
Applying Subsequent Measurement Guidance (pg. 197)
Now [ YOU ] Try 7.6 (pg. 198)
Now [ YOU ] Try 7.7 (pg. 201)
Now [ YOU ] Try 7.8 (pg. 202)
Disclosure Should Accompany Key Measurement Judgments (pg. 203)
Chapter Summary (pg. 203)
Review Questions (pg. 203)
Exercises (pg. 204)
Case Study Questions (pg. 205)
Chapter 8 Fair Value Measurements in the Codification (pg. 208)
Fair Value Overview (pg. 210)
What Is Measured at Fair Value? (pg. 210)
Now [ YOU ] Try 8.1 (pg. 211)
How Is Fair Value Measured? (pg. 211)
Now [ YOU ] Try 8.2 (pg. 212)
The Fair Value Hierarchy (pg. 212)
Now [ YOU ] Try 8.3 (pg. 213)
The Debits and Credits: How Are Changes in Fair Value Reported? (pg. 214)
Now [ YOU ] Try 8.4 (pg. 214)
Now [ YOU ] Try 8.5 (pg. 215)
How Do I Navigate Fair Value Guidance? (pg. 215)
Organization of ASC 820 (pg. 216)
In What Other Circumstances Are Fair Value Measurements Permitted Or Required? (pg. 217)
What Is The Relationship Between Fair Value and Present Value? (pg. 221)
Contributions Payable: Measuring Fair Value Using an Income Approach (pg. 222)
Now [ YOU ] Try 8.8 (pg. 223)
Valuation Technique Disclosures: An Insight Into How Fair Value Measurements Are Performed (pg. 224)
Now [ YOU ] Try 8.9 (pg. 224)
Fixed Assets: Testing For Impairment Using Fair Value (pg. 225)
Now [ YOU ] Try 8.10 (pg. 226)
Now [ YOU ] Try 8.11 (pg. 229)
Chapter Summary (pg. 231)
Review Questions (pg. 231)
Exercises (pg. 232)
Case Study Questions (pg. 233)
Chapter 9 Audit and Professional Services Research (pg. 236)
Introduction To Auditing Research (pg. 238)
When Is Audit Research Required? (pg. 238)
Types of Services-A High-Level Overview (pg. 238)
The Standard Setters: The AICPA and the PCAOB (pg. 239)
Now [ YOU ] Try 9.1 (pg. 240)
Now [ YOU ] Try 9.2 (pg. 241)
Now [ YOU ] Try 9.3 (pg. 242)
Researching Auditing Standards (pg. 242)
AICPA Auditing Standards (pg. 242)
Now [ YOU ] Try 9.4 (pg. 244)
Now [ YOU ] Try 9.5 (pg. 245)
PCAOB Rules and Auditing Standards (pg. 247)
Now [ YOU ] Try 9.6 (pg. 248)
Now [ YOU ] Try 9.7 (pg. 249)
Now [ YOU ] Try 9.8 (pg. 250)
Now [ YOU ] Try 9.9 (pg. 251)
Now [ YOU ] Try 9.10 (pg. 252)
Searching for Auditing Guidance within Firm Research Databases (pg. 254)
The AICPA’s Code Of Conduct (pg. 255)
The Code Is Organized Into Three Parts (pg. 255)
Now [ YOU ] Try 9.11 (pg. 256)
Now [ YOU ] Try 9.12 (pg. 258)
The Conceptual Framework Approach (pg. 258)
Now [ YOU ] Try 9.14 (pg. 259)
Now [ YOU ] Try 9.15 (pg. 260)
Now [ YOU ] Try 9.16 (pg. 261)
How Is Guidance in the Code Organized? (pg. 261)
Now [ YOU ] Try 9.17 (pg. 263)
How Can I Search for Guidance in the Code? (pg. 265)
The Code Will Continue to Change (pg. 266)
Standards For Other Professional Services (pg. 266)
Attestation Standards (pg. 266)
Compilation and Review Standards (SSARS) (pg. 266)
Internal Audit Standards (pg. 267)
Documentation of Professional Services Research (pg. 268)
Citing Professional Standards (pg. 269)
Chapter Summary (pg. 270)
Review Questions (pg. 270)
Exercises (pg. 271)
Case Study Questions (pg. 272)
Chapter 10 Governmental Accounting Research (pg. 274)
Governmental Accounting Research (pg. 276)
Now [ YOU ] Try 10.1 (pg. 276)
State and Local Accounting Standards (pg. 276)
Now [ YOU ] Try 10.2 (pg. 277)
Now [ YOU ] Try 10.3 (pg. 278)
Now [ YOU ] Try 10.4 (pg. 279)
Now [ YOU ] Try 10.5 (pg. 281)
Now [ YOU ] Try 10.6 (pg. 282)
Now [ YOU ] Try 10.7 (pg. 283)
Federal Accounting Standards (pg. 286)
Now [ YOU ] Try 10.8 (pg. 287)
Now [ YOU ] Try 10.9 (pg. 289)
Referencing Governmental Accounting Guidance (pg. 291)
Governmental Auditing Standards (pg. 291)
In What Circumstances Are Government Audits Required? (pg. 291)
Now [ YOU ] Try 10.10 (pg. 292)
Who Performs Government Audits? (pg. 293)
Standards for Government Audits (pg. 294)
Now [ YOU ] Try 10.11 (pg. 295)
Now [ YOU ] Try 10.12 (pg. 296)
Applying Governmental Auditing Standards (pg. 297)
Now [ YOU ] Try 10.13 (pg. 298)
Now [ YOU ] Try 10.14 (pg. 299)
Appendix 10A: Applying the GASB Codification, An Extended Example (pg. 300)
Recognition of Tax Revenues, Using Fund Accounting (pg. 300)
Chapter Summary (pg. 304)
Review Questions (pg. 304)
Exercises (pg. 305)
Case Study Questions (pg. 306)
Chapter 11 Fundamentals of Tax Research (pg. 308)
Who Performs Tax Research, and When? (pg. 310)
The Tax Research Process (pg. 310)
Step 1: Understand the Relevant Facts (pg. 311)
Step 2: Identify the Tax Issues Involved (pg. 312)
Now [ YOU ] Try 11.1 (pg. 314)
Step 3: Analyze Tax Research Findings (pg. 314)
Step 4: Document and Communicate Tax Research Results (pg. 315)
Sources of Federal Tax Law (pg. 318)
Primary Sources of U.S. Federal Tax Law (pg. 318)
Now [ YOU ] Try 11.2 (pg. 322)
Now [ YOU ] Try 11.3 (pg. 322)
Now [ YOU ] Try 11.4 (pg. 328)
Now [ YOU ] Try 11.5 (pg. 329)
Now [ YOU ] Try 11.6 (pg. 333)
Secondary Sources of U.S. Federal Tax Law (pg. 334)
Now [ YOU ] Try 11.7 (pg. 335)
Using an Online Tax Research Service to Find Tax Law (pg. 336)
Table of Contents and Index Searches on Thomson Reuters Checkpoint (pg. 337)
Keyword Searching (pg. 338)
Citation Searches (pg. 340)
Additional Guidance for Using Thomson Reuters Checkpoint (pg. 340)
Updating Tax Research Results (pg. 341)
Citators (pg. 342)
Standards of Professional Tax Practice (pg. 344)
Circular 230 (pg. 344)
AICPA Statements on Standards for Tax Services (pg. 345)
Chapter Summary (pg. 346)
Review Questions (pg. 346)
Exercises (pg. 347)
Case Study Questions (pg. 349)
Chapter 12 The International Research Environment (pg. 352)
Introduction (pg. 354)
IFRS: The Predominant Global Financial Reporting Framework (pg. 354)
A Brief History of International Standards (pg. 354)
Now [ YOU ] Try 12.1 (pg. 355)
When Are Financial Statements Required Internationally? (pg. 355)
Now [ YOU ] Try 12.2 (pg. 356)
The IFRS Foundation and Its Standard-Setting Bodies (pg. 357)
Standard-Setting Bodies of the IFRS Foundation (pg. 358)
Governance and Oversight of the IFRS Foundation (pg. 359)
Advisory Bodies of the IFRS Foundation (pg. 360)
Now [ YOU ] Try 12.4 (pg. 360)
Funding for the IFRS Foundation (pg. 361)
International Financial Reporting Standards (IFRS) (pg. 361)
Applicability of IFRS (pg. 361)
Now [ YOU ] Try 12.5 (pg. 362)
Now [ YOU ] Try 12.6 (pg. 362)
Now [ YOU ] Try 12.7 (pg. 363)
Understanding “Full IFRS” (pg. 364)
Now [ YOU ] Try 12.8 (pg. 364)
Now [ YOU ] Try 12.9 (pg. 365)
Now [ YOU ] Try 12.10 (pg. 365)
Now [ YOU ] Try 12.11 (pg. 367)
Now [ YOU ] Try 12.12 (pg. 368)
Performing IFRS Research (pg. 368)
Now [ YOU ] Try 12.13 (pg. 369)
Now [ YOU ] Try 12.14 (pg. 371)
Statement of Compliance with IFRS (pg. 372)
Now [ YOU ] Try 12.15 (pg. 373)
IFRS for Small and Medium-Sized Entities (pg. 373)
Now [ YOU ] Try 12.16 (pg. 375)
How Do I Know Whether IFRS Applies to a Particular Country? (pg. 375)
Now [ YOU ] Try 12.17 (pg. 376)
When Are International Standards Relevant to U.S. Accountants? (pg. 376)
Foreign Private Issuers (pg. 377)
Now [ YOU ] Try 12.18 (pg. 378)
U.S. Nonpublic Companies (pg. 378)
Other Areas Relevant to U.S. Accountants (pg. 378)
Now [ YOU ] Try 12.19 (pg. 379)
Citing International Accounting Standards (pg. 379)
Nonauthoritative Resources (pg. 380)
Deloitte’s IAS Plus Website (pg. 380)
Comparison Guides (pg. 380)
Other Resources (pg. 380)
Appendix 12A: International Auditing Standards (pg. 381)
When Do International Auditing Standards Apply? (pg. 381)
The International Federation of Accountants (IFAC) and Its Standards Boards (pg. 382)
Now [ YOU ] Try 12.20 (pg. 383)
Comparing International Audit Reports (pg. 385)
Now [ YOU ] Try 12.21 (pg. 385)
Chapter Summary (pg. 387)
Review Questions (pg. 387)
Exercises (pg. 388)
Case Study Questions (pg. 389)
Additional References (pg. 390)
Chapter 13 Delivering Effective Presentations (pg. 392)
When Will I Use Presentation Skills in Practice, and What Is the Format? (pg. 394)
Presentation Formats (pg. 395)
Now [ YOU ] Try 13.1 (pg. 395)
What Are the Qualities of a Great Presentation? (pg. 395)
Creating Effective Content (pg. 396)
Now [ YOU ] Try 13.2 (pg. 397)
Find Ways to Make the Information Resonate (pg. 397)
Now [ YOU ] Try 13.3 (pg. 398)
How Much Detail Should I Include in My Slides? (pg. 398)
Now [ YOU ] Try 13.4 (pg. 399)
Does Font Choice Matter? (pg. 400)
Use Consistent Bullet Style (pg. 400)
Now [ YOU ] Try 13.5 (pg. 400)
Edit Your Presentation (pg. 401)
Delivering a High-Quality Presentation (pg. 401)
Tips for Powerful Body Language (pg. 401)
Now [ YOU ] Try 13.6 (pg. 402)
What If You Have a Fear of Presenting? (pg. 403)
Think beyond the Case Facts (pg. 403)
What Should You Wear? (pg. 404)
Considerations for Those Working in a Group (pg. 404)
What If a Member of My Group Is a Non-native English Speaker? (pg. 405)
Now [ YOU ] Try 13.7 (pg. 406)
Chapter Summary (pg. 406)
Review Questions (pg. 406)
Exercises (pg. 407)
Case Study Questions (pg. 407)
Chapter 14 Staying Current with Emerging Guidance (pg. 408)
The Professional Advantages of Staying Current (pg. 410)
Now [ YOU ] Try 14.1 (pg. 411)
The Standard-Setting Process (pg. 411)
Why Do Accounting Standards Change? (pg. 411)
Now [ YOU ] Try 14.2 (pg. 412)
The Standard-Setting “Due Process” (pg. 412)
Now [ YOU ] Try 14.3 (pg. 413)
Identifying Resources for Staying Current (pg. 413)
First, Identify the Standard Setters You Want to Monitor (pg. 413)
Next, Identify Resources for Monitoring These Standard Setters (pg. 414)
Now [ YOU ] Try 14.4 (pg. 416)
Chapter Summary (pg. 418)
Review Questions (pg. 418)
Exercises (pg. 419)
Case Study Questions (pg. 420)
Index (pg. 421)
Shelby Collins

Shelby Collins

Shelby Collins currently works as a consultant assisting companies with adoption of the new FASB revenue and lease accounting standards. Prior to this role, she taught the Masters-level accounting and auditing research course at the University at Buffalo School of Management from 2011 through 2016.

Shelby’s entire career has focused specifically on performing and communicating technical accounting research, in a diversity of settings. Immediately after receiving her Bachelors’ and Masters’ degrees in Accountancy from the University of Georgia, Shelby went on to serve as a postgraduate technical assistant at the Financial Accounting Standards Board (FASB). From there, Shelby went on to work in KPMG’s Accounting Advisory Services group, then in the Accounting Policy and Research group at Exelon Corporation in Chicago. In these roles, Shelby focused on the application of technical accounting guidance to complex and judgmental transactions.

While at the University at Buffalo, finding no textbook on the market that offered a hands-on, active learning approach to accounting research, she chose to create her own course materials including handouts, lecture slides, and case studies. Many of these materials have been incorporated into this book and its supplements.

Few professionals have the opportunity to hit the ground running with a career in research; accountants often get their first shot at higher-level research projects after several years on the job. Shelby's career is unique in that she started researching before she even had the depth of knowledge afforded by several years of experience. She quickly achieved that depth of knowledge through her work as a researcher. She therefore understands how to convey complex accounting concepts alongside the basic skills necessary for success in research, in a language that beginning researchers can understand. Her enthusiasm for teaching will serve as an asset to students utilizing this book.

Martha L. Salzman

Martha L. Salzman

Martha L. Salzman authored the tax research chapter of this book. Martha is a full-time adjunct assistant professor at the University at Buffalo School of Management, where she teaches the Masters-level professional tax research course and business law courses. Martha is a graduate of the University of Rochester (B.A., Political Science) and the University of Pennsylvania Law School (J.D.), and is licensed to practice law in the State of New York. Martha spent 18 years at the law firm of Phillips Lytle LLP, where her practice focused primarily on taxation, including advising clients regarding tax planning, compliance, audits and disputes. Martha enjoys using her real-world tax experience to better prepare students for their futures as tax and accounting professionals.


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