Tax accounting services: Overview

Improvement and integration of tax accounting and reporting into the finance function has never been more important than it is today. Financial restatements coupled with increased regulatory scrutiny of tax accounts and related tax disclosures have elevated the focus on tax accounting and exposed significant problems in many companies.

Many companies lack the resources and experience to meet today’s tax accounting challenges, especially considering the mounting pressure to increase accuracy within increasingly tight deadlines.

These challenges will be further complicated by the emergence of international shared services and IFRS convergence, putting even more strain on an already resource constrained tax function.

Working with PwC

Our TAS team, part of our broader Tax Management & Accounting Services (TMAS) practice, is comprised of dedicated technical specialists around the globe who provide guidance, and direct best practice approaches related to a range of tax accounting issues including:

  • Tax provision outsourcing and support
  • Accounting for uncertain tax positions (including FIN 48) assessments and technical support
  • IFRS conversion modelling to determine the tax impact of moving to IFRS and the potential tax accounting issues that must be addressed
  • Other specialised tax accounting services, including deferred tax analyses and tax basis balance sheet assistance
  • Tax accounting technical assistance and support, including training and knowledge sharing around developments impacting your business

Value to your company

Our TAS team delivers a range of technical support customised to meet your specific business needs – whether it involves providing dedicated specialists to supplement your internal resources or delivering integrated co-sourcing and outsourcing solutions.

Our services provide you with better control over tax accounting issues and enable you to focus on the more strategic aspects of your business to ensure:

  • Improved controls and documentation
  • Greater collaboration within tax, and with finance and business units
  • Increased focus on strategic objectives
  • Improved processes and efficiency
  • Accuracy of tax accounting balances and forecasts
  • Connectivity with company’s complete reporting cycle for both actual and forecast numbers
  • Control over timely generation of tax accounting obligations
  • Immediate access to tax controls, process re-engineering or tax technology implementation support.