Performed annually, quarterly and (in some cases) monthly, the process of preparing corporate tax provisions is always time consuming, often frustrating and frequently error prone. As close windows tighten, and resourcing remains scarce, tax departments face a daunting task.
Longview Tax Provision and Reporting has been specifically built to automate the tax provisioning process and produce key reports and related disclosures. The solution is delivered using the Longview Tax Data Platform; a robust application that organizes tax data into a single repository and delivers powerful reporting and analytical capabilities.
Longview Tax Provision and Reporting can assist tax departments of any size; from smaller, domestically focused organizations to globally diverse multi-national corporations. Designed to meet the needs of both US GAAP and IFRS tax reporting, while also accommodating local / statutory reporting, Longview Tax is highly flexible to meet any industry, jurisdiction or customer specific need.
Features of Longview Tax Provision and Reporting:
- ASC740 and/or IAS 12 / 34
- Out of box solution with standardized calculations and reports
- Web based, globally accessibly data collection templates
- Consolidated current and deferred provisions (by legal entity / division)
- Net income / profit before tax, permanent and temporary difference automation*
- Balance sheet and/or Income Statement approach
- Statutory and consolidated effective tax rate (ETR) reconciliation
- Current and Deferred Tax account roll-forward (continuity)
- Tax basis balance sheet
- Return-to-provision automation*
- Interim provisioning based on Forecasted ETR
- Regional (state / provincial / municipal) calculations
- Comprehensive foreign exchange capabilities
- Intuitive administration module designed for use by tax (vs. IT) professionals
* Longview Tax integrates with any general ledger / finance consolidation system and tax compliance application.
Unique aspects of Longview Tax Provision and Reporting:
Delivered through a Data Platform that uses dimensions and hierarchies to deliver powerful reporting and analytical capabilities. Flexible tools to support data collection, automation, integration and workflow.
Owned and Operated by Tax
Specifically built to allow business users to run and maintain the application. Retains tax autonomy while tightly integrating with Finance and IT owned systems
Web based, globally accessible. Able to address US GAAP, IFRS and local / statutory reporting. Users work in local, fucntional currencies, while the foreign exchange is managed automatically by the application
Flexibility / Extensibility
Longview Tax can address any customer, industry or jurisdiction specific need through a unique configuration layer that sits on top of the out of box solution. This, along with the bi-directional (push and pull) Excel add-in allows applications to be specifically tailored to each customer’s needs
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Side-by-Side, drill-down reporting of the Consolidated ETR using Longview Tax Provision and Reporting