Longview Tax

The financial reporting of income tax is under greater scrutiny than ever before. Tax professionals are consistently asked to “do more with less” and many tax departments are at a breaking point. However, there is an answer to the challenges that are pressing tax departments today. Similar to what your counterparts in Accounting have done over the last 20 years, the answer lies in applying technology to make you and your tax department more efficient. Whether it is improving the speed of the close, addressing SOX 404, or achieving faster data collection and processing, Longview Tax provides your tax resources with all the tools necessary to have a world class tax function.

Benefits at a Glance

Longview Tax produces all required tax disclosures in accordance with the following tax accounting standards:

• ASC 740 (formerly FAS 109)
  • Including US GAAP and Canadian GAAP (CICA 3465)
  • Interim Provision ASC 740-270-30 (formerly FIN 18)
  • Uncertain tax positions ASC 740-10-50 (formerly FIN 48)
• IFRS
  • Including IAS 12 and Canadian iGAAP
  • Interim Provision IAS 34
• Configurability for specific industry calculations:  Insurance SSAP-10, regulated utilities (FERC), financial services, gas, mining and oil.

Transparency and Auditability
Longview Tax provides a clear, transparent, and auditable tax provision from start to finish. Within our global Effective Tax Rate Reconciliation report you can drill-down on your results with just a few mouse clicks to jurisdiction, and then to legal entity to better understand the factors driving your effective tax rate – all without ever leaving the report. This is functionality that you will value: clear, auditable presentation of tax provision details from book-to-tax and from consolidation to unit-level.

Efficiency
Improve your tax department’s efficiency by allowing the technology to handle the time-consuming, repeatable activities such as consolidation, foreign currency translation, tax difference automation, and more. This empowers your tax department resources to focus on more value-added activities such as analysis and evaluating planning opportunities.

Speed
Reduce cycle time and effort required to close tax and meet reporting requirements. Longview Tax greatly enhances your ability to quickly react to the inevitable late adjustments that are all too often a part of the tax close process. Enter data at the lowest level of detail in functional currency. Within just a few moments you will be able to see the adjustments fully reflected in your consolidated ETR.

Analysis & Planning
Empower your tax department with the most sophisticated tax analysis tools available on the market today. One of the single largest “hidden ROIs” of tax technology is the ability to better analyze your tax details. Use advanced capabilities such as comparative analysis, drill-through, and trend reporting to better understand your ETR drivers.

Integration with Excel
One of the stated goals of tax provision technology is to remove Excel as a data collection and calculation tool. However, it’s still a tool that most tax people like. To that end, Longview Tax provides an ‘Add-in to Excel’ that allows you to interact with your ‘live’ tax details via the familiar experience in Microsoft Excel. You can use Longview Tax’s Excel Add-in to create dynamically update workpapers and boardroom-quality reports that are updated at the click of a button.

Reduced Risk
Integrated book-to-tax processing of data greatly reduces risk across the tax data lifecycle. Ensure that there is “one source of the truth” for all your book and tax data that drives the provision.

Easy to Use Technology
Intuitive web-based access to all tax provision details. Whether you are a Controller in a remote jurisdiction completing a web tax package, a Tax Director reviewing the tax disclosure, or an administrator setting up new legal entities, Longview Tax has an easy-to-use interface. Want to see more details? Simply double-click on the number. Want to set a new automated permanent difference? Simply follow the administrative wizard. With Longview tax you are only a few clicks of a mouse away from where want to go. Ease of use is a hallmark of Longview Tax.