The Temporary Differences Summary (Fed Filing Group) report for Provision datasets displays temporary and NOL differences, and separates ending deferred balances into current and non-current designations. The report lists current assets and liabilities, as well as non-current assets and liabilities, and sums them together to obtain the total value of current temporary differences and non-current temporary differences by unit. Totals for both current and non-current differences appear at the bottom of the report. Data can be viewed using Rollup codes.

 

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Note: It is recommended that you avoid using the default rollup. Only view data in a rollup that is configured to display categories that are in use.

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Provision Items

•Deferred Tax Asset/Liability

 

Report Views

•Defaults to By Deferred and Federal + State views.

•Rollup: Displays the balances sub-totalled by rollup code with underlying detail for the user-defined rollup established in the Manage Rollups by an Administrator.

•By Unit: Displays balances sub-totalled by unit. Can be segregated by federal, federal and state, or state balances.

•By Deferred: Displays balances sub-totalled by temporary difference code. Can be segregated by federal, federal and state, or state balances.

•By Sub-Totals: Inserts two columns that sub-total the asset and liability columns in their current or non-current status.

 

Line by Line

•Temporary Differences: Data Entry > Temporary Differences - Tax Basis, Temporary Differences - Book/Tax Basis, State Temporary Differences - Tax Basis, and State After Apportionment Temporary Differences - Tax Basis in a Provision dataset.

•NOL Reclass: Data Entry > NOL Temporary Differences - Tax Basis in a Provision dataset.

•After Tax Temporary Differences: Data Entry > After Tax Temporary Differences - Tax Basis, After Tax Temporary Differences - Book/Tax Basis, and State After Tax Temporary Differences - Tax Basis in a Provision dataset.

 

Column by Column

•Temporary differences are netted by item to arrive at the asset or liability determination. For this report, all units in the filing group's temporary differences are considered when netting.

•Current Assets: Temporary differences identified as C (current) that, after tax rate, have an asset balance when summed with all activity for the same temporary difference category item.

•Current Liabilities: Temporary differences identified as C (current) that, after tax rate, have a liability balance when summed with all activity for the same temporary difference category item.

•Non-Current Assets: Temporary differences identified as NC (non-current) that, after tax rate, have an asset balance when summed with all activity for the same temporary difference category item.

•Non-Current Liabilities: Temporary differences identified as NC (non-current) that, after tax rate, have a liability balance when summed with all activity for the same temporary difference category item.