ASC 740 | Income Tax Accounting

Comply with ASC 740

Tax rules change. BerryDunn’s ASC 740 consultants keep a close watch on the provisions that impact your tax rate—so you can stay focused on your business. We help clients navigate the application of ASC 740 to help ensure proper financial reporting and disclosure within the US GAAP standard. We work closely with you to mitigate risk, identify opportunities, and stay in compliance.

Our industry-specific tax experts bring an in-depth understanding of the challenges inherent in accounting for differences between tax regulations and accounting standards. We tailor our services to your unique needs and work directly with your team to meet your goals.

We help you navigate ASC 740 to account for income taxes

Our tax experts can help ensure your income taxes are accounted for and accurately recorded in their financial statements according to US GAAP standards.

Income tax provision preparation

Identify current and deferred income tax assets and liabilities, ensuring compliance and audit-ready financial statements.

Independent tax provision review

Manage your tax risk with a review that follows independence requirements for attest clients.

Deferred tax validation

Validate deferred tax assets and liabilities to support accurate financial reporting and audit confidence.

Reporting of internal controls over tax accounting and reporting

Provide a true reflection of a company’s financial health with financial statements that are accurate and supported.

Tax provision template assistance and training

Get expert guidance navigating ASC 740 with better data and use it to improve decision-making and build trust.

Income tax provision preparation

We partner with your organization to accurately determine and report current and deferred taxes for your financial statement. By keeping compliance goals and audit readiness at the forefront, we help you improve transparency and reduce risk.

Independent tax provision review

Our experts provide an objective review of your company’s income tax provision according to ASC 740. The result provides a more accurate financial picture that boosts confidence in results, lowers audit risk, and increases oversight.

Deferred tax validation

We help validate deferred tax assets and liabilities by analyzing temporary differences, tax attributes, and future taxable income. Our team evaluates the need for valuation allowances, resulting in a well-supported deferred tax position that withstands audit scrutiny and reflects economic reality.

Reporting of internal controls over tax accounting and reporting

We assess and document internal controls over income tax accounting and reporting to support consistent, accurate, and repeatable ASC 740 processes. Our approach helps organizations strengthen control design, reduce audit risk, and support SOX compliance and readiness for public or pre‑IPO environments.

Tax provision template assistance and training

We provide hands-on assistance implementing and refining income tax provision templates tailored to your organization’s structure and complexity. Our expert-led training helps your team understand ASC 740 mechanics, key judgments, and documentation expectations—resulting in more consistent calculations, stronger controls, and improved knowledge transfer.

Benefits of working with BerryDunn's ASC 740 consulting team

Client-centric approach

We place you at the center of our partnership. Our experts tailor their approach to accommodate your organization’s unique requirements. We go beyond collaboration by making ourselves a seamless part of your team.

Robust tax expertise

Our ASC 740 experts bring deep technical knowledge and real‑world experience across complex tax structures and industries. We stay ahead of evolving guidance and disclosure requirements, proactively identifying issues before they become audit findings.

Industry-specific focus

Our industry-specialized experts deliver ASC 740 insights and services tailored to your needs. This focused approach means we understand your organization’s complexities and provide strategic guidance that goes beyond compliance.

Trusted, dependable advisors

We understand ASC 740 and your industry. Our team of experts is reliable, responsive, and communicative, providing steady confident support to help you achieve your business goals.

Trusted expertise for complex income tax challenges

BerryDunn’s experts stay current with the increasingly complex income tax accounting and reporting requirements and will collaborate with management to customize services based on your company’s needs. We work closely with you to mitigate risk, identify opportunities, and stay in compliance with ASC 740: Accounting for income taxes. Our team of tax experts has industry-specific focus, giving us a deep understanding of your needs and the inherent accounting challenges you face.