Income Tax Accounting

As accounting standards and income tax laws modernize, companies face intense scrutiny from regulators, investors and their boards over their financial statements and income tax accounting policies and procedures.  

Whether they report under US GAAP (i.e., ASC 740) or IFRS (i.e., IAS 12), companies must have a clear understanding of complex tax and accounting rules to accurately account for and disclose the income tax consequences of their operations.  

Failing to comply with shifting policies can result in a restatement or report of a material weakness, which is not only costly, but could also damage the credibility of your business. We can help strengthen your internal controls, interpret changes to accounting standards and regulations, and guide your team to mitigate risks and save costs. Our team has a deep understanding of the evolving and challenging tax laws and accounting rules gained through years of experience leading income tax functions at large corporate organizations and accounting firms.  

Strained tax departments are able to maximize limited resources by leveraging BDO’s team to provide effective income tax accounting options, as well as technical tax and financial reporting knowledge. Our support enables businesses to develop a stronger income tax accounting function and ultimately, reducing their total tax liability.