LibGuides: Business: Accounting

Definitions

STATUTORY AUTHORITY refers to the powers and duties assigned to a government official or agency through a law passed by Congress or a state legislature. It is also known as a statutory grant of authority.

ADMINISTRATIVE AUTHORITY means the elected or appointed official or board having jurisdiction over a function or activity.

JUDICIAL AUTHORITY means any court, arbitrator, special master, receiver, tribunal, or a similar body of any kind (including any Governmental Authority exercising judicial powers or functions of any kind).

Tax Research

Primary Sources (Original Pronouncements)

Statutory Sources

U.S. Constitution - source of federal tax laws
Tax Treaties - agreements negotiated between countries concerning the treatment of entities subject to tax in both countries
Internal Revenue Code - collection of laws that have been passed by Congress and incorporated in Title 26 of the United States Code.

Administrative Sources

Treasury Regulations - constitute the IRS's and, thereby, the Treasury's official interpretation of the Internal Revenue Code
Revenue Rulings - official pronouncements of the National Office of the IRS; deals with the application of the Code and Regulations to a specific factual situation
Revenue Procedures - internal practice and procedures of the IRS in the administration of tax laws; constitute the IRS's way of releasing information
Other Written Determinations
Miscellaneous IRS Publications

Judicial Sources

Supreme Court
Courts of Appeals
District Courts
U.S. Court of Federal Claims
Tax Court
Tax Court, Small Cases Division

Review of Tax Research Materials (IRS)
This document describes "...the various types of authoritative document used in research tax issues & discuss[es] various secondary sources..."
A Practical Guide to Perfecting Your Tax Research Techniques and Achieving Sustainable Tax Return Filing Positions"
"...five practical steps will guide you in establishing an all-inclusive tax research effort on behalf of your entire client base while properly ascertaining the likelihood of success should a tax position taken on a tax return be challenged by the Internal Revenue Service (hereinafter the “Service”) upon examination."

Database

Nexis Uni (formerly called LexisNexis) This link opens in a new window
LexisNexis includes more than 15,000 news, business and legal sources. LexisNexis includes full text from hundreds of business & legal journals, newspapers, and news wire services. You'll also find business and company reports, SEC filings, legal case law, state and US legal code. It includes U.S. Supreme Court decisions dating back to 1790.

Accounting

vs.

What's the difference?

The United States Code (USC) is the official record of the laws passed by Congress.

The Code of Federal Regulations (CFR) is the official record of the interpretations of the USC by the relevant departments.

Accounting and Financial Reporting Guidance
Compliance and disclosure guides; Industry letters issues, etc.
Chief Financial Officers Council
"With leadership from Federal CFOs, Senior Officials at the Office of Management and Budget, and US Treasury, the CFO Council tackles the most pressing issues in Federal financial management with collaborative leadership."
Code of Federal Regulations
"The Code of Federal Regulations (CFR) annual edition is the codification of the general and permanent rules published in the Federal Register by the departments and agencies of the Federal Government."
Congressional Record
Proceeding and debates of the U.S. Congress. The Congressional Record began publication in 1873.
FASAB - Federal Accounting Standards Advisory Board
The mission of the FASAB is to promulgate federal accounting standards after considering the financial and budgetary information needs of citizens, congressional oversight groups, executive agencies, and the needs of other users of federal financial information.
FASB - Financial Accounting Standards Board
"The mission of the FASB is to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors, and users of financial information."
Federal Register
"...the official daily publication for rules, proposed rules, and notices of Federal agencies and organizations, as well as executive orders and other presidential documents."
FinCEN
" FinCEN’s mission is to safeguard the financial system from illicit use and combat money laundering and promote national security through the collection, analysis, and dissemination of financial intelligence and strategic use of financial authorities."
GAO - US Government Accountability Office
"The U.S. Government Accountability Office (GAO) is known as "the investigative arm of Congress" and "the congressional watchdog." GAO supports the Congress in meeting its constitutional responsibilities and helps improve the performance and accountability of the federal government for the benefit of the American people."
Internal Revenue Bulletins
"The Internal Revenue Bulletin (IRB) is the authoritative instrument for announcing official rulings and procedures of the IRS and for publishing Treasury Decisions, Executive Orders, Tax Conventions, legislation, court decisions, and other items of general interest."
IRS
IRS - Revenue Procedures
"A revenue procedure is an official statement of a procedure published in the Bulletin that either affects the rights or duties of taxpayers or other members of the public under the Internal Revenue Code and related statutes, treaties, and regulations or, although not necessarily affecting the rights and duties of the public, should be a matter of public knowledge."
IRS - Revenue Rulings
"A revenue ruling is an official interpretation by the IRS of the Internal Revenue Code, related statutes, tax treaties, and regulations. It is the conclusion of the IRS on how the law is applied to a specific set of facts." (IRS Website) "Revenue rulings are published in the Internal Revenue Bulletin . . . " (IRS Website)
IRS - Tax Code, Regulations and Official Guidance
Joint Committee on Taxation
The Joint Committee on Taxation is a nonpartisan committee of the US Congress with an experienced professional staff. They assist Members of Congress in both houses on tax legislation.
United States Tax Court
Tax Court and Memorandum opinions from September 1995 - present
US Code
Full text of entire U.S. Code; linked to Title 26 - Internal Revenue Code
US Congress - Current Legislation
US Securities and Exchange Commission
"The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. Check for S-1 filings when doing research on private companies. The S-1 will include every detail about the private company...revenue, profits, compensation, market share, etc."
Yellow Book - Generally Accepted Government Auditing Standards
"...provide a framework for conducting high quality audits with competence, integrity, objectivity, and independence. The Yellow Book is for use by auditors of government entities, entities that receive government awards, and other audit organizations performing Yellow Book audits."

GASB - Governmental Accounting Standards Board
The mission of the GASB is to establish and improve standards of state and local governmental accounting and financial reporting that will result in useful information for users of financial reports, and guide educate the public, including issuers, auditors, and users of those financial reports.
Indiana Board of Tax Review Decisions
"The Indiana Board of Tax Review ("IBTR") is the state agency charged with deciding property tax assessment appeals"
Indiana Code

AccountingTODAY
"Accounting Today is the leading information resource for public accountants – serving the community of professionals who provide tax preparation, bookkeeping, auditing, financial planning, and business advisory and consulting services to individuals and small businesses."
AccountingWEB
AccountingWEB provides accounting news, information, tips, tools, resources and insight--everything you need to help you prosper and enjoy the accounting profession even more.
AICPA.org
"the AICPA represents the CPA profession nationally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations."
CaseMine
Legal research search tool
CPA Journal
"The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at practitioners, educators, regulators, and other financial professionals. Our goal is to provide the Journal's readers with insight and analysis on developments in the areas of accounting, auditing, taxation, finance, management, technology, and professional ethics."
CPAnet
"CPAnet is a website resource to help accountants interact in an online community, find resourceful websites tailored to their needs, utilize the Internet to gain new business, improve the quality of client service and conduct efficient and effective research."
IFRS - International Financial Reporting Standards
"Our mission is to develop IFRS Standards that bring transparency, accountability and efficiency to financial markets around the world. Our work serves the public interest by fostering trust, growth and long-term financial stability in the global economy."
IMA - Institute of Management Accountants
Leagle
"Leagle is a leading provider of United States Court opinions and decisions."
PCAOB - Public Company Accounting Oversight Board
“The PCAOB is a private-sector, non-profit corporation, created by the Sarbanes-Oxley Act of 2002, to oversee the auditors of public companies in order to protect the interests of investors and further the public interest in the preparation of informative, fair, and independent audit reports”.
Tax Policy Center
The Urban-Brookings Tax Policy Center aims to provide independent analyses of current and longer-term tax issues and to communicate its analyses to the public and to policymakers in a timely and accessible manner.
TAXSites.com
"Tax and Accounting Sites Directory is a comprehensive index of web-based tax and accounting resources. The directory is designed to be a starting point for people who are searching for tax and accounting information, products, and services."