Longview Tax Provision/Reporting

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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/ReportingTax Challenge n Integrated Accounting and Compliance – Bridge the gap between provision andWhile other areas of corporate finance have modernized their data return – Longview integrates the finalmanagement processes through the strategic use of technology, many book-to-tax adjustments and runs thetax departments still rely on manual, time-consuming methods, making automated return-to-provision true-up.transparency and efficiencies difficult to achieve. Global corporationsface severe challenges in trying to manage, control and make sense of Longview Tax Provision/enormous volumes of tax data spread across disparate systems. Reporting includes: n Longview Tax Enterprise Platform –The challenge is especially true when it comes to the income taxprovision/reporting processes - traditionally sources of long hours Longview Tax Provision/Reporting is builtand high stress for tax professionals. As close deadlines continue to on the Longview platform. The platform istighten, more and more CFOs, controllers and tax executives are an enterprise-grade application thatlooking for an end-to-end technology solution for the global provides security, flexibility, andaccounting for income tax. scalability.Why Longview Tax Provision/Reporting? n Out-of-Box Standard Tax Packages and Reports – Longviews standard taxAn accurate, efficient tax provision/reporting process depends on packages and reports can be customized,access to a centralized repository of reliable tax data. used “as is”, or new packages can beLongview Tax Provision/Reporting is a user-friendly, intuitive tool added to meet your company’s specificfueled by the single source of data that Longview Tax Data Platform requirements.provides. Longview Tax Provision/Reporting features: n Longview Integration Suite – Centralize n Out-of-Box Standard Tax Packages and Reports – Use standard any number of data source systems, packages as-is or customize to meet your specific requirements databases and applications – including n Easy Set Up – Use pre-defined import templates to be up and ERP/general ledgers such as Oracle, SAP running in a matter of days and Microsoft or feed any point solutions n ASC 740 and IFRS – Easily address the requirements of ASC 740 such as compliance or provision – via (FAS 109) and IAS 12 Longview’s bi-directional connectors. n Industry Solutions – Meet the unique requirements of industries n Web Input Templates – Collect such as Insurance (SSAP101), Regulated Utilities (FERC), Financial standardized, manually entered data from Services, Oil and Gas, and Mining users anywhere in the world via the web. n Interim Reporting – Forecast your estimated annualized ETR by New templates are easy to define and legal entity and/or jurisdiction create for any data collection need.
  • 2. Longview Tax Provision/Reporting n Multidimensional Database and Configurable Data n Web Reports and Longview Reporting and Analysis – Storage – Collect, consolidate, reconcile and summarize Run standard reports and ad-hoc queries to create and data at any level of detail and in any rollup you choose save regularly used reports. Group reports and print to define. Store data across multiple time periods – them in batch with one simple step. including months, quarters and years – for actuals, as n Longview for Excel – Integrate data from Microsoft Excel well as the forecast and planning timeframes. spreadsheets into your Longview database. Easily view n IFRS – Longview is recognized as the industry’s premier and refresh your tax data in the familiar Excel format solution for IFRS tax reporting. The solution has been through a Longview for Excel workpaper. specifically architected to address the unique n Document Repository – Attach and view documents in requirements of IAS 12. web data collection templates and web reports. n Industry Solutions – Longview’s unique configuration n Workflow – Track progress and status at every level of layer allows you to specifically address unique the process. n Microsoft SharePoint Integration – View Longview requirements for industries such as Insurance (SSAP101), Regulated Utilities (FERC), Financial Services, dashboard panels in a Microsoft SharePoint dashboard Oil and Gas, and Mining. via links to web input templates and web reports, the n Interim Reporting – Longviews interim reporting Longview document repository, and graphs, tables, and process allows for forecasting the estimated annualized KPIs. n Business Intelligence (BI) Integration – Connect with any ETR by legal entity and/or jurisdiction as per ASC 740-270-30 (formerly FIN 18) or IAS 34. third-party BI or reporting tool such as MicroStrategy, n Process Late Adjustments – Longview stores all of your Cognos, Business Objects/Crystal, and Microsoft data in one location so that if you re-load the G/L or PowerPivot. 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. ! 2
  • 3. n Mobile Dashboards – Longview dashboards and reports n Improved efficiency through standardized and are mobile, allowing you to access your time sensitive automated tax calculations tax data and reports from anywhere you go! 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 TaxThe Longview Tax Advantage n A single, centralized starting point for tax data Longview is: management, as well as reporting and analysis n Recognized as ‘Visionary’ by Gartner n Improved visibility due to seamless integration with n Ranked #1 in customer satisfaction, value, sales, your G/Ls and tax compliance systems support and value for money by Gartner n Less time spent manually gathering data, more time n Backed by 20 years of proven experience available for value added analysis Longview Tax Microsoft SharePoint and Office Integration Ad Hoc ERP Calculations Finance & Tax Other Transaction gration Suite Analysis & Executive Systems Tax Data Collection Reporting Data Warehouse Operations Tax Provision/Reporting Microsoft Tax Compliance/ Tax Data Management Inte Excel Audit Point Solutions Tax Planning Other Data Web Data Regulator Sources Ta Collection x Da rm t a Platf o Workflow, Collaboration, Security and Dashboards ! ! " # ! " " ! 3 www.longview.com/tax
  • 4. About Longview TaxLongview Tax is a Tax Data Platform (TDP) that unifies the technology and processes necessary to collect, report and own all taxdepartment data. Based on Longview Solutions’ proven expertise working with a wide range of companies and industries, includingsome of the world’s most complex multinational corporations, Longview Tax seamlessly integrates with any source system or tax pointsolution providing a data platform from which all global tax data needs and reporting processes can be performed, including: direct orindirect tax data collection, transfer pricing, tax planning and provisioning/reporting.For more information please visit www.longview.com/tax.About Longview SolutionsLongview Solutions provides a corporate performance management (CPM) and tax data management platform that leading companiessuch 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 followingkey 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 an Exact company 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 Headquarters65 Allstate Parkway, Suite 200 2 Radnor Corporate Center 3rd Floor, Viewpoint, 240 London Road Molengraaffsingel 33, 2629 JD DelftMarkham, ON • L3R 9X1 • Canada 100 Matsonford Road, Suite 230 Staines, Middlesex • TW18 4JT • UK P.O.Box 5066, 2600 GB Delft Radnor, PA • 19087 • USA The NetherlandsTel 905.940.1510 Tel 610.977.0995 Tel 44 (0)1784 221 270 Tel 44 (0)1784 221 270Fax 905.940.8310 Fax 484.367.1153 Fax 44 (0)1784 210 759 Fax 44 (0)1784 210 759Email info@longview.com Email info@longview.com Email info@longview.com Email info@longview.com Longview Solutions is an Exact company 11/2012© Copyright 2012 Exact International Development B.V. All rights reserved.