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Longview Tax Provision/Reporting

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Why Longview Tax Provision/Reporting? …

Why Longview Tax Provision/Reporting?
- Standard out-of-box solution for ASC 740 (FAS109) and IFRS/IAS 12
- Configurable for unique industry and jurisdictional needs
- Flexible technology to grow with your needs
- Enterprise software to gather and store single source
of tax sensitized data
- Longview Integration Suite for importing from source systems and exporting to compliance
- Web data collection for data and documents n Foreign currency translation
- Rollup and Consolidation over multiple years n Dynamic reporting
Longview Tax Provision/Reporting provides all required disclosures in accordance with ASC 740 (FAS 109) and IFRS/IAS 12:
- Consolidated Current and Deferred income tax provisions, by legal entity
- Deferred taxes by legal entity, by temporary difference
- Balance Sheet or Income Statement approach
- Statutory and Consolidated Effective Tax Rate reconciliation (ETR)
- Tax Account Rollforward
- Tax Basis Balance Sheet
- Notes Disclosure and Journal Entry
- Return to Provision/Prior Year Adjustment

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  • 1. Longview Tax Provision/Reporting n Integrated Accounting and Compliance – Bridge the gap between provision and return – Longview integrates the final book-to-tax adjustments and runs the automated return-to-provision true-up. Longview Tax Provision/ Reporting includes: n Longview Tax Enterprise Platform – Longview Tax Provision/Reporting is built on the Longview platform. The platform is an enterprise-grade application that provides security, flexibility, and scalability. n Out-of-Box Standard Tax Packages and Reports – Longview's standard tax packages and reports can be customized, used “as is”, or new packages can be added to meet your company’s specific requirements. n Longview Integration Suite – Centralize any number of data source systems, databases and applications – including ERP/general ledgers such as Oracle, SAP and Microsoft or feed any point solutions such as compliance or provision – via Longview’s bi-directional connectors. n Web Input Templates – Collect standardized, manually entered data from users anywhere in the world via the web. New templates are easy to define and create for any data collection need. Tax Challenge While other areas of corporate finance have modernized their data management processes through the strategic use of technology, many tax departments still rely on manual, time-consuming methods, making transparency and efficiencies difficult to achieve. Global corporations face severe challenges in trying to manage, control and make sense of enormous volumes of tax data spread across disparate systems. The challenge is especially true when it comes to the income tax provision/reporting processes - traditionally sources of long hours and high stress for tax professionals. As close deadlines continue to tighten, more and more CFOs, controllers and tax executives are looking for an end-to-end technology solution for the global accounting for income tax. Why Longview Tax Provision/Reporting? An accurate, efficient tax provision/reporting process depends on access to a centralized repository of reliable tax data. Longview Tax Provision/Reporting is a user-friendly, intuitive tool fueled by the single source of data that Longview Tax Data Platform provides. Longview Tax Provision/Reporting features: n Out-of-Box Standard Tax Packages and Reports – Use standard packages as-is or customize to meet your specific requirements n Easy Set Up – Use pre-defined import templates to be up and running in a matter of days n ASC 740 and IFRS – Easily address the requirements of ASC 740 (FAS 109) and IAS 12 n Industry Solutions – Meet the unique requirements of industries such as Insurance (SSAP101), Regulated Utilities (FERC), Financial Services, Oil and Gas, and Mining n Interim Reporting – Forecast your estimated annualized ETR by legal entity and/or jurisdiction
  • 2. n Multidimensional Database and Configurable Data Storage – Collect, consolidate, reconcile and summarize data at any level of detail and in any rollup you choose to define. Store data across multiple time periods – including months, quarters and years – for actuals, as well as the forecast and planning timeframes. n IFRS – Longview is recognized as the industry’s premier solution for IFRS tax reporting. The solution has been specifically architected to address the unique requirements of IAS 12. n Industry Solutions – Longview’s unique configuration layer allows you to specifically address unique requirements for industries such as Insurance (SSAP101), Regulated Utilities (FERC), Financial Services, Oil and Gas, and Mining. n Interim Reporting – Longview's interim reporting process allows for forecasting the estimated annualized ETR by legal entity and/or jurisdiction as per ASC 740-270-30 (formerly FIN 18) or IAS 34. n Process Late Adjustments – Longview stores all of your data in one location so that if you re-load the G/L or create an entry manually, the impact is automatically calculated from the Trial Balance through to Notes Disclosure. n Integration with Compliance – Longview integrates with any compliance system and runs the automated return-to-provision true-up in Longview Tax. n Complex Modeling/Business Logic – Apply complex calculations and modeling to your tax data and save the results for reporting and analysis. Calculate key performance indicators (KPIs) for tax. n Foreign Currency Translation – Simultaneously translate any number of currencies for global consolidation and reporting. n Automatic Rollup and Consolidation – Build one source of truth for all views, from legal entity to consolidated, with tax data stored in a single database. Longview Tax Provision/Reporting 2 n Web Reports and Longview Reporting and Analysis – Run standard reports and ad-hoc queries to create and save regularly used reports. Group reports and print them in batch with one simple step. n Longview for Excel – Integrate data from Microsoft Excel spreadsheets into your Longview database. Easily view and refresh your tax data in the familiar Excel format through a Longview for Excel workpaper. n Document Repository – Attach and view documents in web data collection templates and web reports. n Workflow – Track progress and status at every level of the process. n Microsoft SharePoint Integration – View Longview dashboard panels in a Microsoft SharePoint dashboard via links to web input templates and web reports, the Longview document repository, and graphs, tables, and KPIs. n Business Intelligence (BI) Integration – Connect with any third-party BI or reporting tool such as MicroStrategy, Cognos, Business Objects/Crystal, and Microsoft PowerPivot. !
  • 3. n Improved efficiency through standardized and automated tax calculations n Advanced analytics that help you energize planning and strategy n Faster and more accurate, transparent, and auditable tax provision improving the confidence in its accuracy and timeliness n Faster, more accurate, more transparent, more auditable tax provision n More control and reduced risk due to less reliance on spreadsheets n Flexible deployment options: hosted/software-as-a-service (SaaS) or on-premise n Easy to use and maintain n Easy to install: tax service providers from many top audit and service firms are certified to implement Longview Tax Longview is: n Recognized as ‘Visionary’ by Gartner n Ranked #1 in customer satisfaction, value, sales, support and value for money by Gartner n Backed by 20 years of proven experience www.longview.com/tax3 IntegrationSuite Workflow, Collaboration, Security and Dashboards Microsoft SharePoint and Office Integration Other Data Sources Other Transaction Systems ERP Data Warehouse Tax Compliance/ Point Solutions Ad Hoc Calculations Analysis & Reporting Microsoft Excel Web Data CollectionTax Data Platform Tax Data Collection Tax Provision/Reporting Tax Data Management Tax Planning Audit Finance & Tax Executive Operations Regulator ! ! " # ! " " ! Longview Tax n Mobile Dashboards – Longview dashboards and reports are mobile, allowing you to access your time sensitive tax data and reports from anywhere you go! The Longview Tax Advantage n A single, centralized starting point for tax data management, as well as reporting and analysis n Improved visibility due to seamless integration with your G/Ls and tax compliance systems n Less time spent manually gathering data, more time available for value added analysis !
  • 4. 11/2012 About Longview Solutions Longview Solutions provides a corporate performance management (CPM) and tax data management platform that leading companies such as Aon, Brunswick, Lexmark, The Home Depot and Trustmark use to drive performance with speed, visibility and financial integrity. Since 1994, Longview has been helping clients create a single repository of financial truth from which all, or any one of the following key financial processes can be performed: financial planning, budgeting, forecasting, modeling, disclosure management/XBRL reporting, statutory consolidation, management reporting, profitability analytics, tax data collection, tax provision/reporting and tax planning. Longview is headquartered in Toronto, Canada with additional offices in Philadelphia, Chicago (USA), London (UK), and Amsterdam (NL). For more information please visit www.longview.com. Division Headquarters US Headquarters UK Headquarters Netherlands Headquarters 65 Allstate Parkway, Suite 200 Markham, ON • L3R 9X1 • Canada 2 Radnor Corporate Center 100 Matsonford Road, Suite 230 Radnor, PA • 19087 • USA Nexus House, Station Road, Egham, Surrey TW20 9LB• UK WTC The Hague, 16th floor Prinses Margrietplantsoen 46, 2595 BR The Hague, The Netherlands Tel 905.940.1510 Tel 610.977.0995 Tel 905.940.1510 Tel +31 (0)854884 783 Fax 905.940.8310 Fax 484.367.1153 Fax 905.940.8310 Fax +31 (0) 854884 782 Email info@longview.com Email info@longview.com Email info@longview.com Email info@longview.com © Copyright 2012 Longview Solutions. All rights reserved.

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