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Tax Accounting & Reporting

We manage the preparation of tax provisions under US GAAP, IFRS, and local standards (IAS 12/ASC 740) using tools like ONESOURCE Tax Provision. Our processes ensure accurate current/deferred tax entries, effective tax rate analysis, and timely true-ups. We streamline period-end close cycles with automation and control frameworks.

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Capabilities
Our Tax Accounting &
Reporting Offerings
01
Tax GL Reconciliation
Accurate reconciliation of tax-related general ledger accounts to ensure consistency between financial and tax records.
02
Tax Reporting for Consolidated Financials
Comprehensive preparation of tax disclosures for consolidated financial statements in compliance with global standards.
03
Deferred Tax Calculations
Comprehensive assessment and reporting of deferred tax assets and liabilities to support transparent financial statements.
04
Audit Support & Documentation Preparation
Detailed documentation and proactive audit support to strengthen compliance and facilitate smooth regulatory reviews.
Our Insights
Real Problems, Real Thinking
Navigating Employee Benefit Plan Audits Best Practices and Key Insights
Navigating Employee Benefit Plan Audits Best Practices and Key Insights
The importance of transparent financial reporting cannot be overstated in today's complex business environment. Investors, lenders, and other capital providers rely heavily on financial statements to evaluate an entity's performance, assess its prospects for future cash flows, and benchmark it against peers. A critical component of this evaluation is understanding the composition of expenses, as they often reveal key insights into cost structures, operational efficiencies, and long-term sustainability. Historically, U.S. GAAP has not required consistent disaggregation of income statement expenses, which has led to diversity in reporting practices. This lack of standardization posed challenges for users in comparing financial results across entities and industries. Recognizing this gap, the Financial Accounting Standards Board (FASB) introduced the proposed Accounting Standards Update (ASU) Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses in July 2023. After gathering extensive feedback through public comments and roundtable discussions, the FASB finalized the amendments in November 2024. These changes aim to enhance the decision-usefulness of financial reporting by requiring disaggregated expense disclosures within the footnotes of financial statements. In January 2025, the FASB issued Accounting Standard Updates No. 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. The updates apply to all public business entities and are effective for annual reporting periods beginning after December 15, 2026, and for interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted.
  • 5-10 Min Read
Understanding DISE Disaggregation of Income Statement Expenses
Understanding DISE Disaggregation of Income Statement Expenses
The importance of transparent financial reporting cannot be overstated in today's complex business environment. Investors, lenders, and other capital providers rely heavily on financial statements to evaluate an entity's performance, assess its prospects for future cash flows, and benchmark it against peers. A critical component of this evaluation is understanding the composition of expenses, as they often reveal key insights into cost structures, operational efficiencies, and long-term sustainability. Historically, U.S. GAAP has not required consistent disaggregation of income statement expenses, leading to diversity in reporting practices. This lack of standardization has posed challenges for users in comparing financial results across entities and industries. Recognizing this gap, the Financial Accounting Standards Board (FASB) introduced the proposed Accounting Standards Update (ASU) Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses in July 2023. After gathering extensive feedback through public comments and roundtable discussions, the FASB finalized the amendments in November 2024. These changes aim to enhance the decision-usefulness of financial reporting by requiring disaggregated expense disclosures within the footnotes of financial statements. In January 2025, FASB issued Accounting Standard Updates No. 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. The updates apply to all public business entities and shall be effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted.
  • 5 min Read
Review Engagements Guide
Review Engagements Guide
Explore the fundamentals and practical relevance of review engagements in today’s financial landscape.
  • 7-9 Min Read
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Simplify Your Tax Compliance Today
Stay ahead of complex tax regulations with our end-to-end solutions. From accurate filing to global tax provisioning, we ensure compliance while reducing risk.