The quarterly or annual tax provision fills most of us with a sense of dread. Ticking and tying the figures, ensuring they roll from one spreadsheet to another, looking for overridden formulas, hoping the auditors won’t ask to detailed back up for “that” number…..it can be a pain, but it doesn’t have to be.
The CPL advantage comes in streamlining the documentation process.
- We link the schedules you need all in one workbook and cell-protect the important calculations which help to eliminate duplicate data entry and hard coding errors.
- We ensure the figures roll and alert you when they don’t helping pin-point the problem in your provision.
- We calculate the rate reconciliation for you and link it to your financial statement tax note template (or we can provide that also). Saving you time and effort all the way.
Our base Tax Provision Template does the following:
- Calculate current and deferred income tax expense and payable for net income,
- Track gross temporary differences and calculate deferred assets and liabilities using one tax rate,
- Calculate capital cost allowance and cumulative eligible capital deductions,
- Deliver tax installment continuity and reconciliation by tax jurisdiction, and
- Effective tax rate reconciliation.
Upgrade to include the following features:
- Calculate current and deferred income tax expense and payable for net income and other comprehensive income by tax jurisdiction,
- Track gross temporary differences and calculate your deferred assets and liabilities with a tax rate customized to each temporary difference: including a continuity schedule to track changes in gross temporary differences period over period,
- Calculates capital cost allowance and cumulative eligible capital deductions by tax jurisdiction,
- A blended tax rate is linked to all calculations,
- Reserve schedules, and
- Manufacturing and processing schedule.
Need more bells and whistles – add:
- A customized management analysis summary sheet and linked financial statement note disclosure,
- Customized journal entry templates (accounting system uploads),
- Tax loss continuity schedules,
- Calculation of taxable capital gains schedule,
- Pull in accounting information from your trial balance to eliminate re-entry of data, and
- And anything else you can think of…..
Each base template is $2,500.00 plus applicable taxes. Customized provision templates quoted on an individual basis.