Calculating Recast

Recast Calculation

The recast leverages data for temporary difference accounts. You must do the following:

1. Add temporary differences accounts to the GAAP to Stat and Stat to Tax hierarchies.
2. Enter the Statutory tax rates to the tax rate schedule and then add current year movements to TRCS_CYADJ (The POV must be set to Entity, Domicile, Entity Currency, and Entity Input to enter data).
3. Configure Covered tax to include selected/all temporary difference accounts.

The Covered Tax schedule will determine if the current year rate is higher versus min tax rate and calculate the recast adjustment.