Chapter 1

An Introduction to Applied Professional Research

Professional accountants, with their specialized knowledge and skills, attempt daily to solve a variety of complex client issues. However, the accounting profession, like other professions, is witnessing major changes due to developments in the law, new services, technologies, and an ever-increasing number of professional standards. In addition to accounting, auditing, and tax compliance services, accountants are involved in such services as attestation reviews, forensic accounting, fraud examinations, and tax planning. Even the types and nature of the problems facing accountants are changing and often becoming more complex. Professional accounting and auditing research is a critical skill for the practitioner. Knowledge of how to utilize major databases to gain an understanding of how to access the professional literature is essential in today's environment. The professional accountant must possess the knowledge to remain current and the skills to critically analyze various problems. Listening effectively, understanding opposing points of view, and applying professional judgment are also critical skills for accountants. Often one must present and defend his or her own views through formal and informal communications. Professional research and communication skills are vitally important in this environment.

Varying views and interpretations exist as to the meaning of the term research. In the accounting profession, research points to what the accounting practitioner does as a normal, everyday part of his or her job. Research in general is the means or methodology of systematically obtaining necessary information related to the issue or problem at hand. In today's environment, to become proficient in accounting, auditing, and tax research one must also possess the skills to use various professional databases, which are increasingly available on the Internet.

The professional accountant, whether in public accounting, industry, or government, frequently becomes involved with the investigation and analysis of an accounting, auditing, or tax issue. Resolving these issues requires a clear definition of the problem, using professional databases to search for the relevant authorities, reviewing the authoritative literature, evaluating alternatives, drawing conclusions, and communicating the results. This research process often requires an analysis of very complex and detailed issues. Therefore, researching such issues will challenge the critical thinking abilities of the professional. That is, the professional must possess the expertise to understand the relevant facts and render a professional judgment, even in some situations where no single definitive answer or solution exists. In such cases, the researcher would apply professional judgment in the development of an answer to the issue or problem at hand. This practitioner's desk reference will provide you with an overview of the steps in the research process (this chapter), and the major databases to access the professional literature (Chapters 2–6).