When a group of two or more businesses is required to report financial results on a consolidated basis, generally accepted accounting principles, or GAAP, require the elimination of intercompany sales ...

Please note: This item is from our archives and was published in 2023. It is provided for historical reference. The content may be out of date and links may no longer function. James Tilk is Director ...

Increasingly complex multinational value chains, partly the result of industry consolidation or globalization, and more scrutiny from auditors and regulators are causing more and more companies to run ...

Imagine a world where the general public not only cares about the tax function, but they have an idea of what tax professionals do. In this theoretical world, certain areas of tax, such as transfer ...

Companies manage intercompany transactions effectively by recording transfers between related entities using consistent accounting rules and reconciling balances regularly. Clear processes help ensure ...

Large, multinational firms have subsidiaries and franchises all over the world. When working out a global corporate strategy, these branches of the same firm are regularly doing business among ...

Did the Filinvest case really put to rest the issues relating to DST on intercompany advances or did it just create other concerns? For one, we now have to consider whether the doctrine in the ...

Grant Thornton has released inter.x, a blockchain platform for managing intercompany transactions. The firm has implemented the new platform in-house, but it is also available to clients to manage ...

Who would forget the question that faced the impeachment court recently – a loan or cash advance? Others may have chuckled thinking the question unwise, but in the realm of taxation, this question ...