Oracle EPM Tax Reporting Cloud Service TRCS Part 2

About this course

Oracle Tax Reporting Cloud is a comprehensive global tax provision solution for multi-national companies reporting under GAAP (Generally Accepted Accounting Principles) or IFRS (International Finance Reporting Standards). The solution encompasses all stages of the corporate tax provision process, including tax automation, data collection, tax provision calculation, return-to-accrual automation, tax reporting and analysis, and Country by Country (CbCR) reporting.Introduction to TRCS and Architecture:Understanding the core features and benefits of the Oracle TRCS solution.Overview of the system architecture and its integration capabilities with other Oracle EPM and ERP systems (e.g., Fusion ERP, Hyperion Financial Management).Application Administration and Configuration:Setting up and managing the TRCS environment, including managing dimensions and metadata.Configuring security, assigning user roles (preparer, reviewer, administrator), and managing permissions to protect sensitive data.Understanding system updates, releases, and lifecycle management for different scenarios.Data Management and Integration:Using Data Management or EPM Integration to load, import, and export data (such as trial balance data) from various source systems.Setting up import formats, locations, and data load mappings (e.g., explicit, multi-dimensional).Tax Provision and Reporting Processes:Automating and managing current and deferred tax provision calculations.Handling the complete tax reporting cycle under global accounting standards like US GAAP and IFRS.Managing country-by-country reporting (CbCR) processes.Streamlining reporting for OECD Pillar 2 requirements, including calculating Global Anti-Base Ero

Course objectives

• To familiarize students with the TRCS system architecture and integration capabilities
• To equip learners with the skills to configure and administer TRCS effectively
• To teach participants the complete tax reporting cycle under US GAAP and IFRS