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ASC 740 Income Tax Provisions

Your business is our business.

Material weakness, defined as deficiencies in internal control over financial reporting, can negatively impact the position and profitability of your company. If discovered, material weaknesses must be reported in public SEC filings in the period in which they are identified and can lead to stock declines, increased external audit and legal fees, and difficulty securing loans or other funding. It can also impact a company’s reputation since it often happens as the result of poor oversight processes, which can cause stockholders to lose faith in your ability to manage other areas of your business too.

Are you concerned that you may have inadequate segregation of duties in your accounting department? Are your management review procedures designed in a way to address risk and ensure proper documentation? Do you keep up with all income tax law changes that apply to your industry?

Under US GAAP, ASC 740 governs how your business recognizes the impacts of income taxes. Creating accurate ASC 740 disclosures requires in-depth tax expertise, industry-specific technical knowledge, and meticulous attention to detail. With so much at stake, it pays to work with our team of talented tax professionals to understand what is driving your company’s tax rate and what its tax provision includes. We have vast experience working with private and public companies throughout the US, allowing us to bring best practices while still taking a tailored approach to your provision.

Services we offer
  • ASC 740: Tax provision preparation on a quarterly or annual basis
  • ASC 740-10: Uncertain tax position update and review

Partner with our ASC 740 team!

BeachFleischman provides accounting, assurance, tax, and comprehensive advisory services that businesses of all sizes need to succeed. If you would like to schedule a tax provision consultation, please complete the form. We look forward to connecting with you!

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