AFTER TAX TEMP diffs

In the After Tax Temporary Diffs page, users can enter after tax adjustments that are temporary in nature. An example of an After Tax Temporary Difference is a tax credit with a carry-forward amount.

2014.0 after tax temp diffs

 

Enter a separate line item for each after tax temporary difference:

1.Select the Code-Description and then Tag or Class/Sub-Class.
2.Indicate whether the item is classified as current or non-current.
3.The carryover balance, if any, is automatically pre-populated.
4.Enter the current activity amount in local currency.
5.There are also fields for entering deferred adjustments and balance sheet only adjustments.
6.Click Add New to create the after tax temporary difference.

 

After an after tax temporary difference item is created, users can edit or delete it by clicking the appropriate icon.

1.Click the pencil icon to edit the entry.
2.Select Save Changes after making any changes.

 

•Users can attach files to an individual after tax temporary difference item on this page. If users have supporting documents, click the paper clip or filing cabinet next to the item.
•Users can add and update notes for a line item.
•Depending on the nature of the after tax temporary difference, the impact of an after tax temporary difference on the tax provision can be viewed on the Tax Provision report and the Effective Rate report.
•To view separate pages for GAAP to STAT and STAT to TAX, datasets must be assigned as “yeprovgs.” For more information, refer to the Administration section.

 

Global Access users can enter information in the current activity, deferred only, and balance sheet only fields using the income statement approach. Users can input an ending balance amount and have the program calculate the current activity using the balance sheet approach. Administrators can activate the balance sheet approach through a parameter. However, even with this parameter, Global Access users still have the option to take either approach for each line item.

 

2014.0 after tax temp diffs 2

 

Notes:

•Refer to the Where to Enter Items in ONESOURCE Tax Provision section for more information on the different types of adjustments. For example, current activity, deferred only, and balance sheet only.
•If a new after tax temporary difference item is required, contact the Corporate Tax Department.