Accounting Research

1

• Accounting Research
• Determine the relevant facts 
• a.        Determine that you have all the facts
  of the transaction and that you understand the
  transaction.
• b.       Examine the situation for hidden
  contingencies, liabilities, or unperformed duties
  on the part of the participants.
• c.        Understand the motivation and intention
  of the parties involved in the transaction.      
   
• Effective Writing, p.127-129)

2
Identify issues involved    a.   Think
through the issue to determine what the problem
truly is. b.     Watch out for your own biases
and quick readings that may leave you with a
wrong impression. Effective Writing,
p.127-129)
3
Research the accounting literature   a.     Consul
t relevant parts of the Statements of Financial
Accounting Concepts. Consider Accounting
Research Bulletins (ARBs), Opinions of the
Accounting Principles Board (APBs), Statement of
Financial Accounting Standards (FASs) to identify
Generally Accepted Accounting Principles
(GAAP). b.       Find possible solutions in GAAP
by examining how the problem is handled in other,
unrelated industries. c.       Appendix 7 A, B,
C offer acceptable sources for research material.
Your accounting textbook cannot be used as a
source for citations.       Effective Writing,
p.127-129)
4
Identify alternative solutions and arguments
for and against each one   a.    Recognize that
you will often be dealing with issues where there
are no established solutions.        Effective
Writing, p.127-129)
5

• Evaluate alternative solutions and choose the one
  that can be best defended
•  
• a.   Present a well-reasoned defense of your
  accounting method.     
• Use precedent and logic in defense of your
  solution.     
• Recognize that any document you create may be
  used in a legal proceeding.      
•      Effective Writing, p.127-129)

6
Communicate the results of your research to the
interested parties.   a.     Format into a
report, letter or memo. b.     Incorporate all
the elements of effective composition in the
communication.          Effective Writing,
p.127-129)