Perspectives

The new Irish GAAP

Read our March 2013 special edition financial reporting brief to learn more about FRS 102 Ireland – The Financial Reporting Standard applicable in the UK and Republic of Ireland that will replace the current Irish GAAP

Perspectives

New accounting standards and frameworks

A recent Deloitte survey of CFOs of Irish entities indicated that almost 60% of those surveyed had not decided on which accounting framework to use from 2015

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Services

Tax accounting and reporting

Tax is an overhead and just like any other business overhead you can only have proper control over it when you account for it correctly. In accounting terms, tax is vastly more complex than light and heat and while you can have a meter to help control your electric bill, Deloitte now offer you the accounting equivalent for current and deferred taxation.

Getting tax reporting done efficiently and on a timely basis can sometimes be hampered by overreliance on spread sheets, outdated technology, and lack of integration between tax and finance systems. Let our tax accounting team help you approach year-end with confidence. We can help you in a variety of ways.

How we can help

How we can help

Having difficulty tackling the year-end tax reporting numbers?
 We can assist with local GAAP outsourcing for statutory accounts purposes, or IFRS/ US GAAP outsourcing for group reporting purposes, including preparation of provisions, supporting documentation and calculations, and drafting disclosures. This eases the pressure on your team, freeing up resources to tackle other key issues.

Are your tax accounting processes more time-consuming than they ought to be?
We can help you explore areas of opportunity for refining, reducing and eliminating redundant tax accounting processes, as well as driving improved performance.

Having trouble undertanding your tax reporting position?
We can assist in reviewing your data and help you understand what drives your effective tax rate. This can help you minimise your cash tax exposure and reported tax charge.

Are outdated tax accounting systems cumbersome to manage?
As an independent adviser, we have an established vendor selection methodology, enabling our clients to select the most appropriate tax provisioning system for their needs, while making this process as straightforward as possible.

Looking to update your tax accounting knowledge?
Whether you are the head of tax, a tax manager or a financial controller with a responsibility for tax, we offer a combination of tax accounting e-learning and classroom based training suitable for you.

Secondments: Need an additional resource?
We can help by providing appropriately qualified individuals on a flexible basis. This gives you the benefit of having access to quality professionals working under your direction, as you need them, with the comfort of the Deloitte experience supporting them.

Tax accounting and reporting outsourcing

How we can help

Q: Having difficulty tackling the year-end tax reporting numbers?

A:
We can assist with local GAAP outsourcing for statutory accounts purposes, or IFRS/ US GAAP outsourcing for group reporting purposes, including preparation of provisions, supporting documentation and calculations, and drafting disclosures. This eases the pressure on your team, freeing up resources to tackle other key issues.

Tax accounting process advisory

How we can help

Q: Are your tax accounting processes more time-consuming than they ought to be?

A: We can help you explore areas of opportunity for refining, reducing and eliminating redundant tax accounting processes, as well as driving improved performance.

Tax reporting forecasting and planning

How we can help

Q: Having trouble undertanding your tax reporting position?

A: We can assist in reviewing your data and help you understand what drives your effective tax rate. This can help you minimise your cash tax exposure and reported tax charge.

Tax accounting technology solutions

How we can help

Q: Are outdated tax accounting systems cumbersome to manage?

A: As an independent adviser, we have an established vendor selection methodology, enabling our clients to select the most appropriate tax provisioning system for their needs, while making this process as straightforward as possible.

Technical tax accounting training

How we can help

Q: Looking to update your tax accounting knowledge?

A: Whether you are the head of tax, a tax manager or a financial controller with a responsibility for tax, we offer a combination of tax accounting e-learning and classroom based training suitable for you.

Secondments

How we can help

Q: Need an additional resource?

A: We can help by providing appropriately qualified individuals on a flexible basis. This gives you the benefit of having access to quality professionals working under your direction, as you need them, with the comfort of the Deloitte experience supporting them.

Download the report

Tax accounting and reporting brochure

Our experienced advisory teams, our teamwork approach and our experience and expertise makes the difference. 

 

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