Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Functionality

Aggregated Attribute Basis

Use the
Aggregated Valuation Allowance
 functionality to combine the three component types and determine if a net asset will have an offsetting valuation allowance.
  • Activate the
    Aggregated Valuation Allowance
     functionality by importing the
    VA_CALCTYPE
     dataset parameter with a paramvalue of 2.
  • In the Automation Policies page, you can enter percentages for the net amount of After Tax Temporary Differences, NOL Temporary Differences, and Temporary Differences in the
    VA Rate
     fields. See Valuation Allowance Rates.
  • The functionality analyzes the net of the three component types. For example, if balances in Net Operating Losses for the unit netted to an asset and the Temporary Differences for the same unit netted to a liability, when the NOL and the Temporary Differences are netted to an asset, the system posts a valuation allowance contra asset at the entered percentage for Aggregated Base Valuation Allowance.
  • The Current/Non-Current balances that made up the component's asset determine the designation of current or non-current status for the valuation allowance.
  • For units in a Filing Group, the parent unit determines the valuation allowance automation and percentage for the group.

This article applies to:

  • Product: ONESOURCE Tax Provision Classic