Untangle ASC 740’s complexity with Bloomberg Tax Provision
Bloomberg Tax offers unmatched expert guidance and industry perspectives to help tax professionals navigate the nuances of the ASC 740 tax provision with confidence. Watch our on-demand Interim Reporting Webinar to dive deeper into the accounting concepts for interim reporting of the ASC 740 income tax provision, including how to handle the annual effective tax rate, discrete items, losses, and operating in multiple tax jurisdictions.
While calculating your interim ASC 740 income tax provision may seem straightforward, FASB has proposed an update that would significantly affect your current process for calculating income tax provisions and preparing disclosures. Our Guide to Proposed FASB Changes to ASC 740 brings you the latest developments regarding FASB’s proposed updates and how these changes will affect your tax provision process.
Many companies rely on Excel for calculating their income tax provision. But relying on intricate Excel workbooks to maintain your tax provision can lead to major setbacks. Tax provision is a major part of interim financial statements and annual disclosures, and manual calculations put you at risk of highly visible errors and increased scrutiny. Even if you think your company’s current tax provision processes are manageable, tax provision software might be a better fit.
Save time and ensure accuracy with Bloomberg Tax Provision, the most powerful ASC 740 calculation engine on the market. Our integrated balance sheet approach takes manual risks out of the equation and lets you easily export summarized footnotes and prepare audit-ready financial reports. Request a demo to see how Bloomberg Tax Provision can work for you and your company.