1. Working with Tax Reporting
  2. Working with National Tax Process
  3. Working with National Deferred Tax
  4. Working with Balance Sheet and Profit and Loss (P&L) Approach in Tax Reporting

Working with Balance Sheet and Profit and Loss (P&L) Approach in Tax Reporting

Tax Reporting supports both the P&L approach and Balance Sheet approach to calculating the difference between the Book and Tax Basis of Assets and Liabilities reported in the financial statements of a company. The P&L and Balance Sheet approach can be used independently or together for the same entity.

Note:

You must have enabled IFRS to use the balance sheet approach functionality supplied out of the box. See, Enabling Application Features in Administering Tax Reporting