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 due to errors in the tax accounts coupled with increased regulatory scrutiny of tax-related balances and disclosures have elevated the focus on tax accounting and exposed significant challenges for many companies. These issues are further complicated by the continued compression of quarter and year-end financial reporting timelines, as well as the growing emphasis placed on appropriately accounting for Uncertain Tax Positions (UTP) or the complexities associated with managing the wide range of tax and accounting-related risks of doing business in light of ever-changing global standards. Unfortunately, many companies currently lack the skilled tax accounting resources necessary to help them meet today’s tax accounting and reporting challenges.

 

How PwC can help you

Our global network of tax accounting professionals can deliver a range of technical tax accounting services customised to your specific business needs and objectives. Our specialised tax accounting resources can help you tackle a wide range of tax accounting needs, including:

  • tax provision outsourcing and support;
  • local statutory accounting verses US GAAP adjustment tax provision analysis;
  • accounting for uncertain tax positions under ASC 740 (formerly FIN48);
  • other specialised tax accounting services, including deferred tax analyses and tax basis balance sheet assistance under both US GAAP, IFRS, and Singapore FRS;
  • tax accounting technical assistance and support, including training and knowledge sharing around developments impacting your business; and
  • tax accounting and advice for changes in reporting or functional currency

Impact on your business

By leveraging PwC's specialised tax accounting resources, your company may achieve better control over its tax accounting function, including:

  • improved accuracy and timely preparation of tax accounting balance;
  • increased collaboration within tax and with finance and business units;
  • improved processes and efficiency;
  • improved controls and documentation (i.e. – mitigation of risk of internal control deficiencies); and
  • increased focus on potential EPS impact

Gaining better control over your company’s tax accounting function will enable you to focus on the more strategic aspects of your business.