oracle hyperion tax provision data · pdf filefinancial management ... oracle hyperion tax...

ion

fficient and transparent

cesses In

ting tax planning

ovision solution that is

cess can make a

s deliverables Oracle

g solution that

process

well as internal amp

nts continue to see

departments have relied

ever over

he accounting process for

ution for most large

ing for the righ

e ever

sion solutions andor add

hallenge In fact in many

ting data and processes

hart of accounts and legal

ith stale data and creates

e tax function needs a tax

s where possible

and tax data Oracle

reporting solution suitable

US GAAP (ASC 740FAS

ax provision process

o calculate permanent and

ta in the general ledgers or

Oracle Hyperion Tax Provi

One of the key components for building an effective

tax function is proper access to financial data and pr

tax repo

compliance amp audit management Therefore a tax p

closely aligned with the broader financial reporting pr

rence in a tax functionrsquos ability to meet i

kind tax reporti

integrates directly with the broader financial reporting

With increased regulation shortened reporting timelines as

pressures for increased transparency corporate tax departm

increasing demands on their finite resources Historically ta

on Microsoft Excel as their primary tool for tax reporting Ho

Excel for calculating the tax provision is inefficient exposes

income tax to unnecessary risk and is no longer a viable so

corporate tax departments are searc

technologies to help gain an advantage in keeping up with t

alone tax prov

return software simply do not solve the data

ways these solutions further exacerbate the issue by replic

This approach requires duplication of effort in managing the

tructures increases the likelihood that tax is working

an artificial wall between book and tax processes Instead t

reporting solutions that is efficient leverages existing proce

provides tax with the necessary transparency into both book

Oracle Hyperion Tax Provision is a comprehensive global ta

ultinational companies reporting under IFRS (IAS 12) o

109) The solution encompasses all stages of the corporate

The tax automation engine allows you

nces directly from the source financial d

ORACL E D AT A S H E E T

Oracle Hyperion Tax Provission

KE Y B U S I N E SS B EN E F I T S

bull Improves efficiency through integration of data metadata with

source ERP and financial consolidation systems

bull Offers stronger tax risk management through a unified control framework

bull Control governance and transparency through centralization security and workflows

bull Improves efficiency through standardization

bull Allows tax to spend more time on analysis and planning instead of reconciliation

bull Transparency and auditability from

consolidated tax disclosure down to source transactions

bull Greater visibility to late adjustments

bull Leverages your organizationrsquos investment in Oracle Hyperion Financial Management

One of the key components for building an effective eefficient and transparent

tax function is proper access to financial data and proocesses In fact financial

data is at the root of all major tax functions - tax reporrting tax planning

compliance amp audit management Therefore a tax prrovision solution that is

closely aligned with the broader financial reporting proocess can make a

powerful difference in a tax functionrsquos ability to meet itts deliverables Oracle

Hyperion Tax Provision is a first-of-its-kind tax reportinng solution that

integrates directly with the broader financial reporting process

With increased regulation shortened reporting timelines as well as internal amp external

pressures for increased transparency corporate tax departmeents continue to see

increasing demands on their finite resources Historically taxx departments have relied

on Microsoft Excel as their primary tool for tax reporting Howwever over-reliance on

Excel for calculating the tax provision is inefficient exposes tthe accounting process for

income tax to unnecessary risk and is no longer a viable sollution for most large

multinationals Todayrsquos corporate tax departments are searchhing for the right enterprise

technologies to help gain an advantage in keeping up with thhe ever-increasing demands

on the tax function

Book amp Tax Reporting in One System

Many tax departments have found that stand-alone tax proviision solutions andor add-

ons to their tax return software simply do not solve the data cchallenge In fact in many

ways these solutions further exacerbate the issue by replicaating data and processes

This approach requires duplication of effort in managing the cchart of accounts and legal

entity structures increases the likelihood that tax is working wwith stale data and creates

an artificial wall between book and tax processes Instead thhe tax function needs a tax

reporting solutions that is efficient leverages existing processs where possible and

provides tax with the necessary transparency into both book and tax data Oracle

Hyperion Tax Provision offers exactly this

Global Consolidated Tax Provision

Oracle Hyperion Tax Provision is a comprehensive global taxx reporting solution suitable

for multinational companies reporting under IFRS (IAS 12) orr US GAAP (ASC 740FAS

109) The solution encompasses all stages of the corporate ttax provision process

bullbullbullbull Tax automation ndashThe tax automation engine allows you tto calculate permanent and

temporary differences directly from the source financial daata in the general ledgers or

f permanent and temporary

rocess

workflow engine collects

world The workflow

he data collection process

vision process at all times

on calculates tax provision

o the consolidated tax

reports

vision as well as the

erion Tax Provision i

ancial Reporting and

d

a in a single solution

vision

the close This allows tax

est

s can be imported into the

urthermore the tax

tax compliance software

fference between

is to ensure the autonomy

lution is able to significantly

and process from finance

iving tax the flexibility to

on as desired For

ses of the tax provisio

a assurance is ensured at

from the financial consolidation system The automation

differences can significantly streamline your tax provision

web tax package and

entered data from regional controllers around th

engine ensures that you have strong internal control over

tus of the tax pr

Oracle Hyperion Tax Provis

from the lowest level of detail (legal entity) all the way up

a full suite of ta

consolidated and detailed analysis of the corporate tax pr

generation of the tax disclosure Furthermore Oracle Hy

integrated with reporting tools such as Oracle Hyperion Fi

Oracle Hyperion Smart View for Office (Microsoft Office A

departments complete access to the live book and tax da

Pr

department durin

of the big

t

seamlessly with your tax return software Tax return detai

application using the industryrsquos best data assurance tool

on and book trial balance can be exported out to th

Oracle Hyperion Tax Provision highlights temporary d

central tenants of Oracle Hyperion Tax Provision

of both tax and finance throughout the close process The s

improve the efficiency of the tax provision by leveraging dat

here appropriate However this is accomplished while still

retain as much or as little control over data and administrat

example tax can push down topside journal entries for purp

without impacting the results as reported by finance and da

O R AC L E D AT A S H E E T

from the financial consolidation system The automation oof permanent and temporary KE Y F E AT U RE S

bull A tax provision calculation engine that addresses US GAAP IFRS and statutory tax reporting

bull A web-based tax package and integrated workflow for global data collection

bull An easy-to-use wizard for automation of tax differences

bull A comprehensive suite of tax reports for the consolidated tax provision -including the tax disclosure

bull Reconciliation of the Tax Accounts to the accounting data and generation of the tax journal entry

bull Powerful reporting tools to support analysis and tax planning in a single solution

bull A return-to-accrual process that integrates and enhances the tax compliance process

bull Configurable supplemental schedules to address unique data collection and calculation requirements

bull A Tax Provision solution that is based on the same technology trusted by thousands of corporate finance organizations

differences can significantly streamline your tax provision pprocess

bullbullbullbull Tax data collection- The complete web tax package and workflow engine collects manually-entered data from regional controllers around thee world The workflow engine ensures that you have strong internal control over tthe data collection process and gives instant insight into the exact status of the tax proovision process at all times

bullbullbullbull Tax provision calculation ndash Oracle Hyperion Tax Provisiion calculates tax provision from the lowest level of detail (legal entity) all the way up tto the consolidated tax disclosure and generates the tax journal entries

bullbullbullbull Tax reporting amp analysis ndash Included are a full suite of taxx reports to support consolidated and detailed analysis of the corporate tax proovision as well as the generation of the tax disclosure Furthermore Oracle Hypperion Tax Provision is fully integrated with reporting tools such as Oracle Hyperion Finnancial Reporting and Oracle Hyperion Smart View for Office (Microsoft Office Addd-in) to allow tax departments complete access to the live book and tax datta in a single solution

bullbullbullbull Insight into late adjustments ndash Oracle Hyperion Tax Proovision provides insight into late adjustments booked by the finance department duringg the close This allows tax users to proactively and efficiently address one of the bigggest bottlenecks of the close process

bullbullbullbull Returnshytoshyaccrual automation ndash There is also a return-too-accrual process that works seamlessly with your tax return software Tax return detaills can be imported into the application using the industryrsquos best data assurance tool FFurthermore the tax provision and book trial balance can be exported out to thee tax compliance software

Figure 1 Oracle Hyperion Tax Provision highlights temporary diifference between Statutory and Tax reporting as a standard feature

Tax Maintains Autonomy

One of the central tenants of Oracle Hyperion Tax Provision is to ensure the autonomy

of both tax and finance throughout the close process The soolution is able to significantly

improve the efficiency of the tax provision by leveraging dataa and process from finance

where appropriate However this is accomplished while still ggiving tax the flexibility to

retain as much or as little control over data and administratiion as desired For

example tax can push down topside journal entries for purpooses of the tax provision

without impacting the results as reported by finance and datta assurance is ensured at

all times through automated validations

2 | ORACLE HYPERION TAX PROVISION

T A C T U S

more information about

k to an Oracle representative

right copy 201nts hereof are subject to change without notice This document is not warrantnties or conditions whether expressed orally or implied in law including implied warranties and conditions of merchants for a particular purpose We specifically disclaim any liability wd either directly ors electronic or mechanical for any purpose without our p

e and Java are registered trademarks of Oracle andor its affiliates Other names may be trademarks of their respective

nd Intel Xeon are trademarks or registered trademarks of Intel Corporation All SPARC trademarks or registered trademarks of SPARC International Inc AMD Opteron the AMD logo and the AMD Opteron logo aremarks or registered trademarks of Advanced Micro Devices UNIX is a registered trademark

he Oracle suite of tax

address transfer pricing

estment in Oracle

cial reporting data and

ith each other and are

ls and efficiency

ransparency between tax

he ability to leverage

thousands of hours in l

impact to the bottom line

ing capabilities Having the

e on low v

attention on risk analysis

C O

For or call +1800ORACLE1 to

spe

Cop for information purposes only and thecont e errorwarr es and conditions of merchantfitne ent and no contractual obligations areform or transmitted in any form or by anymea

Ora trademarks of their respective

Intelare t logo and the AMD Opteron logo aretrad rk

Oracle Hyperion Tax Provision is just one of the products in

suite includes comprehensive capability t

name a few Each of the solutions leverages your existing in

nd is inherently connected to the fina

process Furthermore the tax solutions are fully integrated

designed to empower tax users with enterprise quality contr

Oracle Hyperion Tax Provision provides you with unparallel

Furthermore

existing finance data and process can save tax departments

productivity Together these qualities can result in significan

quality analysis and plan

proper tools allows tax departments to spend less of their ti

focus its

visit oraclecom

Oracle andor its affiliates All rights reserved This document is provideded to

warranties or conditions whether expressed orally or implied in law including implied warrantith respect to this docu

by this document This document may not be reproduce

Oracle and Java are registered trademarks of Oracle andor its affiliates Other names may be

Intel and Intel Xeon are trademarks or registered trademarks of Intel Corporation All SPARC tare trademarks or registered trademarks of SPARC International Inc AMD Opteron the AMtrademarks or registered trademarks of Advanced Micro Devices UNIX is a registered tradem



ORACL E EN T ER P R I S E PE R FO RMAN CE MANAG EMENT APP L I C AT IO N S

Oracle enterprise performance

management applications are an

integrated modular suite that supports a

broad range of strategic and financial

performance management processes

and helps unlock business potential

REL AT ED P ROD U CT S


management applications provide the

following capabilities

bull Strategy Management

bull Financial Close and Reporting

bull Planning Budgeting and Forecasting

bull Profitability and Cost Management

bull Enterprise Data Governance

The Oracle Tax Suite

Oracle Hyperion Tax Provision is just one of the products in tthe Oracle suite of tax

solutions The tax suite includes comprehensive capability to o address transfer pricing

workflow and process orchestration RampD credit country-by-country reporting ndash just to

name a few Each of the solutions leverages your existing invvestment in Oracle

Hyperion technology and is inherently connected to the finan ncial reporting data and

process Furthermore the tax solutions are fully integrated w with each other and are

designed to empower tax users with enterprise quality contro ols and efficiency

Tax Contributes Significant Value

Oracle Hyperion Tax Provision provides you with unparallel t transparency between tax

data and the underlying source financial data Furthermore t the ability to leverage

existing finance data and process can save tax departments thousands of hours in lost

productivity Together these qualities can result in significant t impact to the bottom line

by empowering tax with enterprise-quality analysis and plann ning capabilities Having the

proper tools allows tax departments to spend less of their tim me on low value-added

activities Instead the corporate tax function can re-focus its attention on risk analysis

and creating shareholder value

C O NN T A C T U S

For more information about Oracle Hyperion Tax Provision visit oraclecom or call +1800ORACLE1 to

speaak to an Oracle representative

C O N N E C T W I T H U S

blogsoraclecomoracle Copy yright copy 2015 Oracle andor its affiliates All rights reserved This document is provided for information purposes only and the conte ents hereof are subject to change without notice This document is not warranted to b be error-free nor subject to any other

facebookcomoracle warra anties or conditions whether expressed orally or implied in law including implied warranti es and conditions of merchanti ability or fitnes ss for a particular purpose We specifically disclaim any liability with respect to this docum ment and no contractual obligations are forme ed either directly or indirectly by this document This document may not be reproduced d or transmitted in any form or by any twittercomoracle mean ns electronic or mechanical for any purpose without our prior written permission

oraclecom Oraclcle and Java are registered trademarks of Oracle andor its affiliates Other names may be trademarks of their respective owners

Intel aand Intel Xeon are trademarks or registered trademarks of Intel Corporation All SPARC trrademarks are used under license and are tr rademarks or registered trademarks of SPARC International Inc AMD Opteron the AMD D logo and the AMD Opteron logo are trade emarks or registered trademarks of Advanced Micro Devices UNIX is a registered tradema ark of The Open Group 0415

f permanent and temporary

rocess

workflow engine collects

world The workflow

he data collection process

vision process at all times

on calculates tax provision

o the consolidated tax

reports

vision as well as the

erion Tax Provision i

ancial Reporting and

d

a in a single solution

vision

the close This allows tax

est

s can be imported into the

urthermore the tax

tax compliance software

fference between

is to ensure the autonomy

lution is able to significantly

and process from finance

iving tax the flexibility to

on as desired For

ses of the tax provisio

a assurance is ensured at

from the financial consolidation system The automation

differences can significantly streamline your tax provision

web tax package and

entered data from regional controllers around th

engine ensures that you have strong internal control over

tus of the tax pr

Oracle Hyperion Tax Provis

from the lowest level of detail (legal entity) all the way up

a full suite of ta

consolidated and detailed analysis of the corporate tax pr

generation of the tax disclosure Furthermore Oracle Hy

integrated with reporting tools such as Oracle Hyperion Fi

Oracle Hyperion Smart View for Office (Microsoft Office A

departments complete access to the live book and tax da

Pr

department durin

of the big

t

seamlessly with your tax return software Tax return detai

application using the industryrsquos best data assurance tool

on and book trial balance can be exported out to th

Oracle Hyperion Tax Provision highlights temporary d

central tenants of Oracle Hyperion Tax Provision

of both tax and finance throughout the close process The s

improve the efficiency of the tax provision by leveraging dat

here appropriate However this is accomplished while still

retain as much or as little control over data and administrat

example tax can push down topside journal entries for purp

without impacting the results as reported by finance and da


from the financial consolidation system The automation oof permanent and temporary KE Y F E AT U RE S

bull A tax provision calculation engine that addresses US GAAP IFRS and statutory tax reporting

bull A web-based tax package and integrated workflow for global data collection

bull An easy-to-use wizard for automation of tax differences

bull A comprehensive suite of tax reports for the consolidated tax provision -including the tax disclosure

bull Reconciliation of the Tax Accounts to the accounting data and generation of the tax journal entry

bull Powerful reporting tools to support analysis and tax planning in a single solution

bull A return-to-accrual process that integrates and enhances the tax compliance process

bull Configurable supplemental schedules to address unique data collection and calculation requirements

bull A Tax Provision solution that is based on the same technology trusted by thousands of corporate finance organizations

differences can significantly streamline your tax provision pprocess

bullbullbullbull Tax data collection- The complete web tax package and workflow engine collects manually-entered data from regional controllers around thee world The workflow engine ensures that you have strong internal control over tthe data collection process and gives instant insight into the exact status of the tax proovision process at all times

bullbullbullbull Tax provision calculation ndash Oracle Hyperion Tax Provisiion calculates tax provision from the lowest level of detail (legal entity) all the way up tto the consolidated tax disclosure and generates the tax journal entries

bullbullbullbull Tax reporting amp analysis ndash Included are a full suite of taxx reports to support consolidated and detailed analysis of the corporate tax proovision as well as the generation of the tax disclosure Furthermore Oracle Hypperion Tax Provision is fully integrated with reporting tools such as Oracle Hyperion Finnancial Reporting and Oracle Hyperion Smart View for Office (Microsoft Office Addd-in) to allow tax departments complete access to the live book and tax datta in a single solution

bullbullbullbull Insight into late adjustments ndash Oracle Hyperion Tax Proovision provides insight into late adjustments booked by the finance department duringg the close This allows tax users to proactively and efficiently address one of the bigggest bottlenecks of the close process

bullbullbullbull Returnshytoshyaccrual automation ndash There is also a return-too-accrual process that works seamlessly with your tax return software Tax return detaills can be imported into the application using the industryrsquos best data assurance tool FFurthermore the tax provision and book trial balance can be exported out to thee tax compliance software

Figure 1 Oracle Hyperion Tax Provision highlights temporary diifference between Statutory and Tax reporting as a standard feature

Tax Maintains Autonomy

One of the central tenants of Oracle Hyperion Tax Provision is to ensure the autonomy

of both tax and finance throughout the close process The soolution is able to significantly

improve the efficiency of the tax provision by leveraging dataa and process from finance

where appropriate However this is accomplished while still ggiving tax the flexibility to

retain as much or as little control over data and administratiion as desired For

example tax can push down topside journal entries for purpooses of the tax provision

without impacting the results as reported by finance and datta assurance is ensured at

all times through automated validations


T A C T U S








estment in Oracle



ls and efficiency






e on low v


C O


spe











Furthermore





focus its

visit oraclecom









































C O NN T A C T U S








T A C T U S








estment in Oracle



ls and efficiency






e on low v


C O


spe











Furthermore





focus its

visit oraclecom









































C O NN T A C T U S








oracle hyperion tax provision data · pdf filefinancial management ... oracle hyperion tax...

Documents