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Comprehensive Guide to Research Databases and Tools for Accounting and Financial Analysis

This chapter explores an array of research databases and tools critical for effective accounting and financial analysis. Learn strategies for conducting database research, understanding the needs behind business information, and leveraging governmental and financial databases. Key steps include determining information sources, employing advanced search techniques, and managing search results effectively. The chapter also highlights essential accounting research tools like RIA Checkpoint, CCH’s Accounting Research Manager, and government accounting databases, providing insights into their applications and benefits for researchers and professionals alike.

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Comprehensive Guide to Research Databases and Tools for Accounting and Financial Analysis

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  1. Chapter 6 Other Research Databases and Tools

  2. Learning Objectives Additional database research strategies Accounting search tools Governmental accounting databases Financial research databases Business research databases Massive Legal databases

  3. Other Database Research Strategies: Step 1: Information Needed • Business information needs can arise for various reasons, such as • Understanding the industry of a client • Financial news that may affect a client • Background of new corporate executives • Understanding a company’s new products and patents

  4. Other Database Research Strategies: Step 2: Determine the Sources • Commercial databases advantages • Ability to improve database features • Better search tools • Comprehensive retrieval systems • Often more user friendliness

  5. Other Database Research Strategies: Step 2: Determine the Sources (contd.) • Industry information sources • Sometimes need gov. industry code • Government agencies • Trade associations

  6. Other Database Research Strategies: Step 3: Use Search Techniques • Find all relevant sources • If keyword search, consider • Alternative keyword terms • Segment searching • Date restrictions • Changing connector terms • Understand any search engine limits • Use reminder tools • i.e. search histories

  7. Other Database Research Strategies: Step 4: Manage the Results • Search results come in various forms • Citation, abbreviated, or full document views • Descriptive graphics or charts • Additional documents or info. may exist through tabs or listings on the side

  8. Other Database Research Strategies: Step 4: Manage the Results (contd.) • Consider reformat the citation of sources to conform to the style needed. • APA Style uses author’s last name and first name initial (year of publication), article title, journal volume number (issue), article pages. • Am. Acc. Assoc. style slightly varies from APA.

  9. Accounting Research Tools • RIA Checkpoint has a financial research library in some subscriptions • CCH’s Accounting Research Manager • Access to FASB’s codification, government accounting, various auditing standards, SEC authorities, and helpful secondary sources • Advertises additional SEC materials not found in the FASB’s codification • Weekly newsletter available to subscribers

  10. AICPA Accounting Research Tools Accounting Trends and Techniques Financial Report Surveys Audit and Accounting Manual Accounting and Tax Index

  11. Government Accounting Databases • GASB – GARS • Government Accounting Research System for state and local accounting • Summary information on GASB’s website • The Current Text provides GASB’s codification of government acc. standards • Hierarchy of authority exists

  12. Government Accounting Databases (contd.) • FASAB – Codification of authorities • Accounting for the Federal government • No hierarchy of authorities exists

  13. Financial Research Databases • Provide financial statements of companies • Examples of investigations: • Unfunded pension liabilities • Dual date audit reports • Size ranking of a company • Pending government investigations • Info. valuable for partner negotiations • Ratio analysis for credit ratings

  14. S&P NetAdvantage Separate news on the market, bonds, the economy, and industries Quick links to industry surveys, investment publications, investment advisory reports Includes both private & public companies Powerful search functions exist Able to make various database reports Bond info available in spreadsheet formatincluding its type, rating, & callability

  15. Mergent Online Public company info. is brief Access to company financials, history, joint ventures, property locations Daily stock prices Financial ratio analysis Industry comparisons Foreign companies provided

  16. Thomson Research • Analyst reports are historical strength • Provide more comprehensive view of a company • Analyzes implications of new developments • Historical corporate data (from 1962) • Content profile includes financial data, SEC filings, auditor’s report, accounting practices, and financial ratios

  17. Thomson Research (contd.) • Nonfinancial information includes • Overview of markets and technology • Companies’ joint ventures • Product announcements

  18. Other Financial Databases Business and Company Resource Center– Thomson Financial content Hoover’s Online– comprehensive company, industry, and market intelligence

  19. Other Financial Databases (contd.) • Morningstar Investment Research Centerparticularly valuable for mutual funds • Factiva – joint venture between Dow Jones and Reuters – 25 years of pricing on stocks, bonds, mutual funds, and global market indices.

  20. Financial Research Challenges Physically visiting the library for sources Hedge funds and private equity info. Mergers & acquisition info Academic accounting research Professional accounting concerns Specialized research, such as UCC filings

  21. Article Index Databases Provides relevant, non-authoritative analysis on various topics Search for leading periodicals, such as Wall Street Journal, or academic journals

  22. Article Index Databases (contd.) • Article Index databases include • Business Source Premier, part of EBESCO Host • ABI Inform Global • Specialized databases • Broader databases, such as Factiva & LexisNexis

  23. International Business Sources GlobalEDGE Resource Desk – web directory of international topics International organizations such as World Bank and OECD (Organization for Economic Cooperation & Development Government agencies such as International Trade Administration Foreign Databases

  24. Statistical Sources • Stat-USA – current and historical data on business, international trade, … by the U.S. Department of Commerce. • Various notable hardbound sources • S&P’s statistical service • Statistical Abstract of the U.S.

  25. LexisNexis • Use to find authoritative legal sources, news, business information, public records • Potential searches: • Earnings reports • Which companies have reorganized • A company’s subsidiaries, divisions, branches. • Includes securities and tax laws, newspapers, magazines, wire services, accounting journals, law reviews

  26. LexisNexis Academic • A subset of the information on LexisNexis • Five areas: general, business, legal research, news, and people • Company dossier are particularly helpful • Some search engine limitations exist • Go to the area of interest before searching • Accounting information is weak, instead use an accounting database, such as CCH’s Accounting Research Manager

  27. Other Legal Databases • Westlaw, Westlaw Business … • Alternative to Lexis especially for legal materials • Search tools facilitate keyword searches • Research tools especially noteworthy for court cases, such as headnotes • Hein Online provides full-text access to law reviews • Wilson Web is an article index database for business and legal sources

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