Emily Pellmann Session you Paper
п»ї" The research process generally speaking is often thought as a scientific method of query, a systematic analyze of a field of knowledge to find out scientific information or rules (Weirich, 2014, pg. 10). When using authoritative literature to conduct tax, accounting, and auditing research " (t)he AICPA codifications areВ crucial referrals containing AICPA standards and interpretations currently in effect to get audit, confirm, and system and review servicesвЂќ (2010, AICPA). Discussed in the course text are the five steps to the study process. The first of which is to investigate and analyze a clearly defined concern or difficulty, followed by the collecting of evidence through both the report on literature as well as the surveying of present practice. When more than one available way to obtain literature is out there on the concern being investigated an accountant need to turn to the hierarchy of GAAP. The Financial Accounting Standards Board (FASB) Declaration 162, granted in May 08, outlines the applicable hierarchy of GAAP, applied to nongovernmental entities. The GAAP Pecking order is classified in descending order of authority the following:
1 . FASB Statements of Financial Accounting Requirements and Interpretations, FASB Declaration 133 Execution Issues, FASB Staff Positions, and American Institute of Certified Community Accountants (AICPA) Accounting Analysis Bulletins and Accounting Guidelines Board Thoughts that are not replaced by activities of the FASB. 2 . FASB Technical Programs and, in the event cleared by FASB, AICPA Industry Audit and Accounting Guides and Statements of Position. several. AICPA Accounting Standards Exec Committee Practice Bulletins which were cleared by FASB, consensus positions of the FASB Appearing Issues Process Force (EITF), and the Subject areas discussed in Appendix G of EITF Abstracts (EITF D-Topics). four. Implementation courses (Q& As) published by the FASB personnel, AICPA Accounting Interpretations, AICPS Industry Review and Accounting Guides and Statements of...
References: Weirich, Thomas L., Pearson, Jones C., Churyk, Natalie Tatian. 2014. Accounting and Auditing Research: Equipment and Tactics, 8th Copy. Hoboken, NJ: John Wiley & Sons, Inc.
Unknown. 08. Financial Accounting Series Number 302. Declaration of Financial Accounting Standards No . 162. The Hierarchy of Generally Approved Accounting Principles. Financial Accounting Standards Plank of the Economical Accounting Groundwork. Retrieved on June 25, 2014 by:
Unknown. 2010. AICPA Respected Literature Codifications. Retrieved upon June twenty-seven, 2014 from: http://www.aicpa.org/Publications/AuthoritativeStandards/Pages/AICPAAuthoritativeLiteratureCodifications.aspx