Provision

Learn how Bloomberg Tax Provision helped a global agricultural company save time and effort, and ensure accuracy, by simplifying their approach to tax provisions.

Learn how to navigate the accounting standards update proposed by FASB, including changes to income tax disclosure requirements.

Stay up to date on FASB's Exposure Draft and how these proposed changes to income tax disclosures could affect the provision process.

ASC 740 requires extensive disclosures for income tax provision. Learn the disclosure rules for balance sheets, income statements, and uncertain tax positions.

Browse examples of required ASC 740 income tax provision disclosures, including rate reconciliation, deferred tax assets and liabilities, and footnotes.

How to evaluate positive and negative evidence to determine if a valuation allowance is needed for deferred tax assets that won’t be recognized.

This example demonstrates the key concepts for determining a valuation allowance for a deferred tax asset, and how to account for it in a journal entry.

Net operating losses and credit carryforwards impact the ASC 740 provision for income tax by creating deferred tax assets subject to valuation allowances.

Learn how to navigate ASC 740’s interim reporting rules and allocate tax expense to quarterly financial statements.