Step 01
Monitor
Capture public-source developments and standard-setting activity.
Source-linked item
Operating model
Monitor -> Classify -> Assess -> Assign -> Evidence -> Approve -> Report
A conservative workflow for teams that need documented tax accounting review rather than loose issue tracking.
Step 02
Classify
Tag ASC 740 relevance, topic, jurisdiction, and urgency.
Risk-ranked queue
Step 03
Assess
Evaluate financial statement impact across current tax, deferred tax, VA, UTP, AETR, and disclosure.
Impact assessment
Step 04
Assign
Set ownership, due dates, review gates, and close-cycle accountability.
Owner action plan
Step 05
Evidence
Retain source support, reviewer notes, and documentation status.
Review evidence
Step 06
Approve
Route management conclusions through professional review and approval.
Approved conclusion
Step 07
Report
Prepare leadership reporting and audit committee-ready summaries.
Audit committee update
Solution areas
Purpose-built solution modules for ASC 740 close readiness.
ASC 740 close readiness
Problem: Late-cycle provision pressure and fragmented review ownership.
Workflow capability: Quarterly review workflow with gates, owners, due dates, and evidence status.
ASC 740 relevance: Current tax, deferred tax, UTP, valuation allowance, AETR, and disclosure.
Pre-close risk packetTax law-change monitoring
Problem: Developments arrive from too many sources to evaluate consistently.
Workflow capability: Source-linked monitoring and classification into tax accounting review queues.
ASC 740 relevance: Identifies developments that may affect provision, cash taxes, or disclosures.
Risk-ranked law-change queueASU 2023-09 disclosure readiness
Problem: Disclosure requirements need structured readiness before drafting starts.
Workflow capability: Checklist-oriented workflow for rate reconciliation and disaggregated disclosures.
ASC 740 relevance: Rate reconciliation, income taxes paid, and disclosure controls.
Disclosure readiness supportAudit committee tax reporting
Problem: Executives need concise visibility into judgment areas and open actions.
Workflow capability: Board packet candidates, executive summaries, and management action status.
ASC 740 relevance: Highlights board-level ASC 740 and tax disclosure matters.
Audit committee tax updateTax Director planning calendar
Problem: Close milestones are easy to miss when development review is separate from provision planning.
Workflow capability: Calendar-based prompts by filer profile, period, owner, and purpose.
ASC 740 relevance: Pre-close scans, provision checkpoints, disclosure, and reporting readiness.
Quarterly planning viewAccounting standards tax impact
Problem: FASB and IFRS activity needs a tax-accounting-specific lens.
Workflow capability: Filterable monitor for FASB, IASB, ASC 740, IAS 12, and tax disclosure impact.
ASC 740 relevance: Deferred tax, valuation allowance, global minimum tax, ETR, and disclosure.
Standards impact screenControl evidence and SOX support
Problem: Review evidence and control context often live outside the technical conclusion.
Workflow capability: Evidence status, source links, reviewer notes, and conclusion readiness in one place.
ASC 740 relevance: Supports management review controls and audit-ready support.
Control evidence trailRole value
Different stakeholders see the same workflow through their decision lens.
VP Tax / Tax Director
Reduce missed law-change impacts and standardize the quarter-end tax accounting review process.
Controller / CAO
Improve financial reporting readiness by tying tax developments to accounting impact and evidence trails.
CFO / Audit Committee
Translate technical tax developments into executive-ready risk posture, open actions, and board reporting.
Next step
See the workflow in action.
See how tax developments move through ASC 740 review, evidence, conclusion, and audit committee reporting.