Tax Accounting Automation

Historically, many companies have used Excel-based calculations for their income tax provision. Ongoing regulatory focus on the accuracy of tax provision reporting, including Sarbanes-Oxley and FIN 48, are pushing many companies to third-party packages. TaxStream is an end-to-end software solution that simplifies the tax provision process. This software is used by 30 percent of U.S. Fortune 500 companies and by the Big Four accounting firms. TaxStream allows you to pull information directly from general ledger sources, eliminating the need for most manual entries. TaxStream provides complete footnote support, including effective tax rate reconciliation and an inventory of deferred taxes. The reports are self-reconciling to ensure accurate calculations.

Jefferson Wells will assist in understanding how the automation of the provision process can help your organization manage risk, save time, increase accuracy and reliability, and improve reporting and analysis.

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Automating FAS 109

Although spreadsheets are great tools and taking certain steps can improve their accuracy and effectiveness, relying on them to calculate increasingly complex tax provisions ignores an inherent weakness.

Tax Accounting Automation - TaxStream Webcast Presentation

The following is a PDF of the presentation of the Tax Accounting Automation Webcast that took place on September 17, 2008.

Tax Accounting Automation Webcast

To avoid playback interruptions of the Podcast, simply download the file to your computer. To download on a PC right click on your mouse and "Save Target As." For a Mac press Control + Mouse Click and select "Download Linked File."

Tax Accounting Automation - TaxStream

Scrutiny of the corporate income tax provision process is high. And although, historically, many companies have relied on spreadsheet-based calculations, ongoing regulatory focus on the accuracy of tax provision reporting under Sarbanes-Oxley and FIN 48 is pushing many companies to third-party software packages such as TaxStream.