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Accounting and Auditing Research Chapter 6 With Quiz

The document discusses financial ratio databases Mergent Online and S&P Capital IQ, comparing their ratios and capabilities. It also discusses government accounting resources GARS Online and the FASAB Handbook, and legal research databases LexisNexis and Westlaw.

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Shamraj E. Sunderamurthy
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46 views6 pages

Accounting and Auditing Research Chapter 6 With Quiz

The document discusses financial ratio databases Mergent Online and S&P Capital IQ, comparing their ratios and capabilities. It also discusses government accounting resources GARS Online and the FASAB Handbook, and legal research databases LexisNexis and Westlaw.

Uploaded by

Shamraj E. Sunderamurthy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Part 1: Exercises and Knowledge Busters

What financial ratios are provided in the Mergent Online database? Compare (identify

the similarities) and contrast (identify the differences) in this result to the financial ratios

presented in S&P Capital IQ.

Mergent Online provides a wealth of textual information on company financials,

descriptions, history, property, subsidiary officers and directors - the hallmark of all

Mergent products. Strong intuitive search capabilities combined with an easy-to-use

interface, one-platform access to risk scores, credit data and recommendations. A

research tool for professional strength that monitors more enterprises in more countries

than any other database. With the accuracy, timeliness and accountability needed in

today's marketplace, Mergent Online provides a comprehensive suite of authoritative

financial information. The most challenging research needs would be fulfilled by its

creative, intuitive new user interface. To leverage your research with the knowledge that

you have come to trust, depend on the consistency and breadth of Mergent and its suite

of global business and financial data items.

The financial ratios found in Mergent Database are the profitability, liquidity, debt

management, asset management, and per share ratios generated based on the

company’s financial details.

The online portal of Capital IQ provides consulting companies, banks,

businesses, investment managers, private equity funds, universities and more with

different software and data feeds, offering overall market visibility and can be used by

investment research audiences to educate their investment strategies.

1|Page
The S&P Capital IQ is used for complex financial statement and comparables

analysis, financial modeling, sector analysis and charting for companies worldwide.

Mergent Online database finds company financials, competitor, customer, and

supplier information, recent analyst reports, and more on US and global companies.

Also includes industry reports and country snapshots.

Part II: Questionnaire Build up

2|Page
Chapter 6

A. True or False

1. The two official databases for U.S government accounting are GASB’s

Government Accounting Research System and Federal Accounting

Standards Advisory Board Handbook of Authorities.

Answer: True. (taken from page 119)

2. GARS Online provides comprehensive information for state and local

government accounting.

Answer: True. (taken from page 119)

3. The GARS Online is needed when researching U.S. federal government

entities’ accounting issues.

Answer: False – The Federal Accounting Standards Advisory Board (FASB)

Handbook of Authorities. (taken from page 120)

4. The FASAB’s Handbook’s website includes individual issued statements after

the issuance of the current FASAB Handbook.

Answer: True. (taken from page 121)

5. A five-tier hierarchy of accounting authorities is used for federal GAAP, under

FASAB Standard 34.

Answer: False – four-tier (taken from page 121)

B. Identification

1. It is the highest level of federal GAAP. It consists of FASAB standards and

interpretations.

Answer: Level A. (taken from page 121)

3|Page
2. It includes the FASAB technical releases, created by its Accounting and

Auditing Policy Committee.

Answer: Level C. (taken from page 121)

3. It consists of the implementation guides published by the FASAB staff and

federal accounting practices that are widely recognized in the federal

government.

Answer: Level D. (taken from page 121)

4. It clarifies the original meaning of the standards, add definitions or provide

other guidance that is generally narrow in scope.

Answer: Seven FASAB’s Interpretations. (taken from page 121)

5. It has expanded from its origins focused on the law in the 1970s to cover

many subjects and information from all over the world.

Answer: LexisNexis. (taken from page 128)

C. Multiple Choice

1. LexisNexis can be used to obtain the following except

a. Legal company information

b. News

c. Public records

d. Employees’ contact no.

Answer: D (taken from page 129)

2. It is a specialized variation of the larger LexisNexis database.

a. Lexis Securities Mosaic

b. Lexis Advance

4|Page
c. Large Databases

d. LexisNexis

Answer: A (taken from page 129)

3. It is the main professional version of the LexisNexis in the United States. It

includes a Google-like search and locates relevant answers using a unique

content classification technology.

a. LexisNexis

b. Lexis Advance

c. LexisNoxia

d. Lexis Alexa

Answer: B (taken from page 129)

4. It is the current name for LexisNexis’ database targeted for university and

business school subscribers.

a. Nexis Uni

b. LexisNexis

c. Large Databases

d. Lexis Advance

Answer: A (taken from page 129)

5. It provides a bit more expensive product alternatives to the LexisNexis

databases, but is slightly preferred by lawyers for the ease of use, case

headnotes, and a key number system that breaks down hundreds of broad

legal topics into tens of thousands of specific legal concepts.

5|Page
a. Research Tools

b. Search Tools

c. Thomas Reuters Westlaw

d. LexisNexis

Answer: C (taken from page 130)

6|Page

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