Simplify your ASC 740 income tax provision process
Demystify the complexities around ASC 740 accounting for income taxes with Bloomberg Tax Provision.
Bloomberg Tax Provision is the simplest solution to the complicated technical requirements involved in calculating your income tax provision. This easy-to-use software helps you manage risk and reduce time spent in your ASC 740 process by providing a streamlined, controlled environment that leverages a balance sheet approach to comply with US GAAP. Efficiently move from your Facts to the Footnote.
With this comprehensive ASC 740 calculation engine, users can:
- Implement the software in hours or days — not weeks or months
- Automatically calculate required footnote disclosures
- Effortlessly export a single comprehensive spreadsheet reporting package
- Calculate the provision on a state-by-state basis, driving increased accuracy
- Track UTBs in a way that is organized around footnote disclosure requirements and the software seamlessly calculates the related deferred consequences
- Ensure that the income tax payables are reconciled for every return
- Easily navigate the provision process with no configuration screens, separate modules, system codes, or add-ons to worry about
- Have control over all aspects of the provision process with a full audit trail, including review features and user permissions management