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Introduction :Oracle Hyperion Tax Provision

Posted on September 23rd, 2013 by Sanjit Anand ||Email This Post Email This Post

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Until now, there was no easy way to integrate the tax provision with the financial consolidation. But, this all changes with the introduction of Hyperion Tax Provision. Hyperion Tax Provision represents the first in a series of products to better integrate tax reporting into the broader financial reporting process.

An integrated system for the Tax & Finance close means that you are leveraging your exiting investment & reducing risk – Hyperion Tax Provision leverages your existing investment in HFM and the Financial Close Suite by using the same tools for data collection, consolidation, and reporting to bring you an integrated Tax Provision solution.

arrow Hyperion Tax Provision is a comprehensive solution for the global consolidated tax provision.

This includes:

  • Data Collection:
    • Automated – any data that can be sourced from HFM, the general ledger, or sub-ledgers can be automatically available to the tax provision
    • Manual – The solutions includes a suite of web forms to collect tax provision details (incl. Current Tax, Temporary Difference Rollforward, tax losses & credits,etc)
  • Tax Provision Calculation:
    • Addressing both IFRS and US GAAP
    • Federal, State/Provincial, & International
  • Tax Reporting
    • Suite of out-of-box tax reports (incl. Current Tax, Deferred Tax, Effective Tax Rate Reconciliation, etc)
    • This also includes the same great reporting tools used by finance (such as Smart View & Financial Reporting)

arrowHFM & HTP Solutions – Architecture

Here is HFM & HTP solutioning Architecture .

HTP Solution

arrowMajor Key Benefits for HFM Customers

  • Increased Automation & Efficiencies:
    • Leverage the same data assurance process
    • Use the same chart of accounts & legal entity hierarchie
    • As much as 70% of the Tax Provision can be automated
  • Stronger Internal Controls
    • Closer alignment with the finance data & process
  • End to end auditable process
    • Improved Analysis & Reporting: resulting in better risk analysis and tax planning
    • Excel, Web Reports and Drill-through to G/L

In Nutshell the use of HFM for tax provision ensures that the Tax & Accounting Close are coordinated & efficient.

Bringing finance and tax together results in unparalleled Transparency & Reporting. The same reporting tools that you already use for financial reporting are now available for analysis of the Tax Provision.

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