Booking Corporate Tax Journal Entries using Oracle
Looking for any insight or experiences on how companies are handling their final tax entries in support of their month end closes. These tax entries can include income tax provision and changes to deferred income tax accounts. The challenge is that the client’s corporate accounting department does not know what final tax adjustments need to be booked until balances from primary ledgers have been transferred into a consolidation ledger and reporting is done off the consolidation ledger. Any final tax adjustments will need to make it into the consolidation ledger for financial reporting. The challenge is to book all adjustments
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