2012 Review of BNA Tax & Accounting Center and Financial Resource Center

Bloomberg BNA, Inc. — Bloomberg BNA Tax & Accounting Center and Financial Resource Center
800-372-1033
www.bna.com

From the Dec. 2012 review of tax research systems.

Best Fit: Tax, accounting and legal professionals who want up-to-date tax law content, news and analyses.

Strengths

• Complete integration of primary source documentation with Bloomberg BNA portfolios, which are written by experts in the profession
• Customizable for each user
• User-selected email and newsletter alerts

Potential Limitations

• Limited integration options

Bloomberg BNA offers an entirely online tax and accounting research solution with its Bloomberg BNA Tax & Accounting Center. Features include a personalized homepage, tabbed display, access to Bloomberg BNA expert-written Portfolios, fully integrated source documentation, and various practice tools. Content is created by some of the world’s leading expert authorities in the tax and accounting profession and maintained by a team of Bloomberg BNA editors. Users have access to the latest Bloomberg BNA news and analyses. The new Financial Accounting Resource Center provides access to complete summaries of various accounting rules, along with full text of the accounting standards and regulations.

Basic System Functions: 4.75 Stars

Bloomberg BNA Tax & Accounting Center offers a user-friendly interface, making it easy to navigate through the program and search tax law topics. The solution features a tabbed interface, with each tab focused on a different topic. Users can select a tab as their default login screen instead of the default federal tax screen.

There are several options available for search. Each screen features a search box at the top allowing users to search right from where they are. The Go To link takes subscribers directly to specific code sections, revenue rulings, Portfolios or analysis. This is helpful if the professional know exactly what topic and/or piece of content they are looking for. Other search features include advanced search options and indexes.

In addition to tabbed browsing and search, users also have access to a variety of practices tools, such as Chart Builders, Navigators, letters, Tax Calculators and support documents. The solution offers templates for creating client letters and forms. Users can create folders to store and organize saved documents, searches and charts.

Content: 5 Stars

Bloomberg BNA Tax & Accounting Center provides access to various tax law topics and content from a range of primary sources, including the Internal Revenue Code and Bloomberg BNA Portfolios. Content covers legislation changes, court cases, sales and use tax, payroll, estate, gifts and trusts, etc. Users can look up federal, state and international tax rates and requirements, creating charts to compare topics across multiple states.

Users can look up court cases, tax treaties, IRS documents and expert commentary and analysis on real tax and accounting scenarios. Customizable alerts notify subscribers when new and relevant articles, news, documents and resources become available. Users also have access to summaries of accounting rules, the latest financial accounting updates and official regulatory text through the Financial Accounting Resource Center.

Content, which includes complete material from FASB, AICPA, IASB, GASB, SEC and PCAOB, is updated and maintained by experts and Bloomberg BNA’s editors. The solution also provides expert accounts of U.S. GAAP policies, SEC filings, financial restatements, financial events and actions and numerous sample disclosures. Users can also view Bloomberg BNA’s Accounting Policy and Practice report.

Customization: 4.75 Stars

Each user can change the settings of Bloomberg BNA Tax & Accounting Center to create a customized experience based on the user’s preferences and individual needs. Users can choose which topics display on the homescreen and are emailed to them. The way search results display is completely changeable and searches can be saved for future use.

Integration/Import/Export: 4.75 Stars

Based on their subscription, users can access links to content from the portfolios and other primary sources. Bloomberg BNA Tax & Accounting Center is also fully integrated with the Daily Tax Report, but not third-party systems. Content can be exported into Word or PDF formats as well as saved or printed. In addition, charts can be exported to Excel.

Help & Support: 4.75 Stars

Bloomberg BNA Tax & Accounting Center has an extensive Help menu, covering a variety of topics. In addition, support and FAQs are available on Bloomberg BNA’s website. Users have access to webinars and training through phone support. In addition, Bloomberg BNA offers support by mail, phone, fax and an online form. Content is updated automatically as changes are made to tax and accounting laws and new contents and working papers are created for each portfolio. There is no need to download or install any software.

Summary & Pricing

Bloomberg BNA Tax & Accounting Center offers a comprehensive tax and accounting research solution that includes the Bloomberg BNA Portfolios, written by leaders and experts in the profession. Basic single-user subscriptions start at $800 and increase as user logins are added. Subscriptions for a library with the U.S. Income Portfolios start at $3,000. Pricing is available on a quarterly, annual, and multiyear basis.

2012 Overall Rating: 4.75 Stars