Provisioning and Reporting for Income Taxes LVC

Introduction to Tax Reporting

• Objectives
• Tax Reporting Overview
• Tax Reporting: A Complete Solution
• Key Features
• Tax Reporting Optional Components
• Tax Provision Process Overview
• Book and Tax Accounts
• National and Regional Taxes
• Entity Dimension
• Automation in Tax Reporting
• Tax Automation Overview
• Tax Automation Logic/Calculation Types
• Tax Automation Logic Examples
• Tax Account Rollforward Automation Overview
• Opening Balance Automation Overview
• Return to Accrual Automation Overview
• Detailed Credits and Losses
• Navigating in Tax Reporting
• Accessing the Tax Reporting Environment
• Home Page
• Navigator
• Navigating Forms
• Setting User Preferences
• Summary
• Practice 1: Introduction to Tax Reporting

Preparing the Current and Deferred Provision

• Objectives
• Entering National and Regional Tax Rates
• Applying Closing Rate to All Current Year Movement
• Deferred Tax Override Rates
• Entering Consolidated Tax Rates
• Checking Entity Calculation Status
• Calculation Statuses
• Tax Provision National Package
• Current Provision National
• Current Provision Calculation: Overview
• Adjustments to Book Values
• Permanent and Temporary Differences
• Temporary Differences Form
• Current Provision: Deductible Taxes
• Entering Tax Loss Carryforwards
• Applying Tax Loss Carryforwards
• Managing Tax Credits
• Tax Credits Example
• Entering Valuation Allowances
• Additional Current Provision
• Return to Accrual Adjustment: Current Provision
• Return to Accrual: Temporary Differences and Deferred Taxes
• Posting Return to Accrual Adjustments
• Viewing Deferred Taxes
• Validating the Effective Tax Rate Calculation
• Preparing the Regional Provision: Overview
• Summary
• Practice 2: Preparing the Current and Deferred Provision

Translating Data from and to Foreign Currencies

• Objectives
• Default Currency Translation Process: Parent Currency
• Default Currency Translation Process: Reporting Currencies
• Entering Exchange Rates
• Entering Exchange Rates: Single Period Form
• Entering Exchange Rates: Full Year Form
• Triangulated Currency Rates
• Calculating Triangulated Currency Rates
• Translation Methods
• Using Calculated Weighted Average Override Rates for Tax and Book
• Accounts
• Overriding the Rate for NIBT Accounts
• NIBT Override Rate Prerequisites
• Calculating Weighted Average Override Rates for NIBT
• Entering Historical Override Rates and Amounts
• Summary
• Practice 3: Translating Data from and to Foreign Currencies

Analyzing Tax Account Rollforwards

• Objectives
• Tax Account Rollforward Overview
• TAR Form Layout
• Income Tax Payable
• Entering Payments and Refunds
• Managing Payment and Refund Details
• Current Tax Payable Automated
• Current Tax Payable Detail
• Manual Reclassifications
• Book Versus Tax Closing Balances
• Regional Tax Account Rollforwards
• Summary
• Practice 4: Analyzing Tax Account Rollforwards

Reports and Dashboards

• Objectives
• Viewing Dashboards
• Viewing the Consolidated ETR Overview
• Viewing the Statutory ETR Overviews
• Total Tax Dashboards
• Other Dashboards: Current Provision
• Other Dashboards: Tax Summary
• Other Dashboards: Tax Type
• Other Dashboards: Combined Total Tax
• Financial Reports
• Viewing Financial Reports
• Report Types
• Reports Overview
• Report Designer
• Grid Editor
• Summary
• Practice 5: Reports and Dashboards

Calculating and Adjusting Provision Data Under IFRS

• Objectives
• IFRS and Tax Reporting: Overview
• Enabling IFRS Features
• Calculating Book Versus Tax Differences
• System-Defined Book Versus Tax Accounts
• Copying from Fixed Assets to Temporary Differences
• Entering Deferred Tax Not Recognized
• Viewing Deferred Taxes After DTNR
• Posting Changes Due to Tax Rates to Equity
• Entering Consolidated ETR Tax Rates for IFRS
• Viewing Consolidated ETR for IFRS
• Viewing Consolidated ETR by Entity
• Tracking Exceptional Items
• Summary
• Practice 6: Calculating and Adjusting Provision Data Under IFRS

Performing Rollovers and Copying Configurations

• Objectives
• Rollovers Overview
• What data is rolled over?
• Performing a Rollover
• Rollover By Entity
• Rollover By Entity: Tax Rates Example
• Copy Configuration Overview
• Copy Configuration: Global
• Copy Configuration by Entity
• Example: Adding a New Entity During the Year
• Opening Balance Overrides
• Opening Balance Override: Source Scenario for Opening Balance

Set Up Example of Opening Balance Override Using Half-Year Actuals (P6 FY20) for

• Full-Year Forecast (P12 FY20)
• Summary
• Practice 7: Performing Rollovers and Copying Configurations

Calculating Interim Tax Provisions

• Objectives
• Interim Tax Provisioning Overview
• IAS 34 – Interim Reporting – Enable Feature
• Generating an Interim Tax Provision
• Tax Rates Forecast
• Current Provision Forecast
• Temporary Differences Forecast
• Deferred Tax Forecast
• Calculation Adjustments (Excluding Loss Entities)
• Consolidated ETR Forecast
• Interim Provision: Detailed
• Interim Provision Report
• Summary
• Practice 8: Calculating Interim Tax Provisions

Reviewing and Approving Provision Data

• Objectives
• Approval Units
• Approval Templates
• Ownership and Promotion Path
• Starting the Approvals Process
• Viewing Approval Unit Status
• Performing Approval Actions
• Viewing the Promotion Path
• Approval Actions: Promote, Reject, and Sign Off
• Approval Actions: Approve, Lock, Reopen, & Unlock
• Approvals Actions: Take Ownership, Delegate, and Originate
• User Preferences for Approvals
• Summary
• Practice 9: Reviewing and Approving Provision Data

Creating Country-by-Country Reports

• Objectives
• Country-by-Country Reporting Overview
• Country-by-Country Reporting Solution
• Country-by-Country Report Sections
• Country-by-Country Prebuilt Templates
• Automating Data into Country-by-Country Reports
• CbC Reporting Data Entry Table 1
• CbC Reporting Data Entry Table 2
• CbC Constituent Entity Information
• CbC Reporting Table 3 Further Information
• CbC Reporting Summary
• Viewing Summary Table 1
• Table 1 Summary by Jurisdiction
• CbCR Approval Process Overview
• Approving the Approval Unit
• Reviewing CbCR Data Status
• Analyzing Dashboard Data for Audit Risk
• Reviewing Risk Assessment Ratios
• Filing Country-by-Country Reports
• CbC Filing Information
• Preparing the Message Specification
• Preparing the Reporting Entity Information
• Preparing the Jurisdictional Document Specification
• Preparing Table 3 for Filing
• Validating and Submitting Country-by-Country Reports
• Creating the XML File
• Summary
• Practice 10: Creating Country-by-Country Reports

Managing Tax Data Using Smart View

• Objectives
• Introduction to Smart View
• Downloading and Installing Smart View
• Close and Supplemental Data Management Extension
• Smart View Components
• Smart View Ribbon
• Connecting to Tax Reporting
• Entering Data Through Forms in Smart View
• Opening Forms in Excel
• Setting the Form Point of View
• Entering and Submitting Tax Data
• Calculating Data in Smart View
• Translating Data in Smart View
• Starting Ad Hoc Analysis in Smart View
• Ad Hoc Analysis
• Supplemental Data Forms in Smart View
• Connecting to Supplemental Data Forms in Smart View
• Viewing the Supplemental Data Manager Worklist
• Approving, Rejecting, and Posting Supplemental Data
• Summary
• Practice 11: Overview