Working with Regional Tax Account RollForward (TAR)

The system automatically loads the beginning of the year and end of period general ledger balances to the tax accounts rollforward and system-calculated provision. The TAR Regional form provides detail for the current and deferred income tax expense, deferred tax assets/liabilities, current tax payable/receivable, and equity accounts. You can import or enter amounts for payments or refunds and enter adjustments to account balances as necessary through the use of linked forms.

Data in the TAR Regional form is used to prepare the tax journal entry. It should be reconciled periodically to the general ledger accounts as required.

To enter adjustments:

1. From the Home page, select Tax Provision Regional, and then TAR Regional.
2. On the form, under Actions, select Consolidate, and then click Launch.
3. Import or enter amounts for payments or refunds and enter adjustments to account balances as necessary.
4. Review the following:
   • Ending Balance (based on the Opening Balance, plus all activity)
   • Ending Balance per Book (General Ledger, ERP or Consolidation application) See Generating Custom Mapping in Administering Tax Reporting.
   • Difference (JE)
5. On the form, under Actions, select Consolidate, and then click Launch.
6. Generate journal entries in Oracle Smart View for Office to explain any differences.
7. Click Save.

Table 12-9 Tax Account RollForward

Category	Description
Current Expense	The current regional income tax amount calculated in the current provision.
Deferred Expense	The deferred regional income tax amount calculated in the deferred provision.
Total Provision	The sum of Current Expense and Deferred Expense.
Non-current Assets	The amount of deferred taxes classified as a noncurrent asset.
Non-current Liabilities	The amount of deferred taxes classified as a noncurrent liability.
Non-current Valuation Allowance	The amount of deferred taxes classified as a noncurrent valuation allowance.
Total Deferred Tax	The sum of Current Asset/Liability, Noncurrent Asset/Liability and Current/Noncurrent Valuation Allowance.
Income Tax Payable	Identifies a Region (such as a US State) for which an income tax provision must be calculated.
Income Tax Receivable	The current tax receivable. Amounts are manually posted using the reclassification accounts in the Tax Account RollForward. Payments and refunds are input manually.
Long-term Payable	The tax long-term payable. Amounts are manually posted using the reclassification accounts in the Tax Account RollForward. Payments and refunds are input manually.
Net (Payable) Receivable	The total tax payable/receivable.
Total Movement Ownership	This amount is the total movement for Ownership for the Current Tax.
Ownership - Opening Balance	This amount is the difference in the Opening balance due to ownership changes to the Parent.
Ownership - Current Year	This amount is the difference in the Opening balance due to ownership changes to the Parent.
Acquisitions Total	The total of any Acquisitions resulting from the acquisition of assets and liabilities and the related temporary differences. The detail amounts are available from Acquisition details on the Temporary Differences form.
Disposals Total	The total of any Disposals resulting from the disposals of assets and liabilities and the related temporary differences. The detail amounts are available from Disposal details on the Temporary Differences form.
Balance Sheet Total	The total of Acquisitions and Disposals are displayed under Balance Sheet Total.
Equity Adjustments	The equity transactions based on the nonprovision adjustments the deferred tax rollforward. These amounts are automated from the deferred tax rollforward.
Equity Adjustments Total	The total regional equity adjustments.
TAR Accounts	Net to zero