Approaches Made by the Enterprise Information System Promotion Department
Helping Large-sized Companies Solve Issues Regarding Taxation and Accounting
The Enterprise Information System Promotion Department offers taxation and accounting systems to the market of large-sized, mainly public companies, to support groups of them in their taxation strategies and in managing consolidated companies, and is engaged in activities for making such companies the clients of TKC members.
The Environment Surrounding the Market of Large-sized Companies
Large-sized companies are required to cope with a series of constant changes due to law amendments and system reforms, including: a suggestion that the electronic filing of tax returns of corporate income tax be made mandatory from the business year starting on and after April 1, 2020, according to the "FY2018 Tax Reform"; making preparations for the "Accounting Standard for Revenue Recognition (Draft)"; coping with the revision of the consumption tax; complying with the reporting system for information about multinational corporations (the provision of country-by-country reports and master files becoming mandatory), which will be introduced in connection with a documentation system for a transfer pricing taxation system; and increasing needs for storing accounting evidence in electronic form in line with the deregulated system of storing electronically scanned documents for national taxes.
In addition, companies expanding internationally as part of their group's growth strategy are facing pressing needs to strengthen the system for performance management for their group including overseas subsidiaries, the issues of which include ensuring appropriateness, accuracy and promptness of overseas subsidiaries' financial information, and controlling the risk of potential fraud.
Adopted by more than 80% of the 100 Largest Japanese Companies by Revenue
Taking such changes in the market as an opportunity, TKC offers large-sized companies the TKC Consolidated Group Solution (as illustrated) that encompasses the accounting and tax filing operations of an entire company group, including the consolidated tax return, non-consolidated tax return, tax effect accounting, consolidated closing, non-consolidated closing, fixed assets management, electronic filing of tax returns, and monitoring of overseas subsidiaries. These solutions have been developed by leveraging TKC's strengths gained through its focused efforts on the development of taxation and accounting systems since its foundation. Customers can manage the data from each group company in a secure manner and with unitary control and minimal costs, which is made possible by TKC providing the solution as a cloud-based service from the TKC Internet Service Center equipped with the highest possible data security.
The most significant benefit of TKC's solutions is that TKC members, experts in actual practices of taxation and accounting, provide not only systems and services but also intensive support "from implementation of system to actual operation" with great care and attention through a nation-wide network, and they help groups of companies achieve lawful and appropriate tax returns and account processing.
TKC is committed to actively helping large-sized companies manage their groups by providing services with high added value from the implementation of the system to its actual operation in close collaboration with the TKC National Federation Medium- and Large-sized Companies Support Council and the TKC National Federation Overseas Business Support Council, and by leveraging the high quality of work in taxation and accounting which TKC members are capable of performing.
Reliable Support Structure for Customers
- 1. Disseminating updated information
- TKC issues "TKC Express", e-mail publications that deliver timely updated information about amendments to accounting and tax legislation relating to large-sized companies, and a "WEB Column" in which members of the TKC National Federation Medium- and Large-sized Companies Support Council give explanations about the latest trends in accounting and taxation.
- 2. Organizing seminars and workshops
- TKC organizes seminars on the latest topics in taxation and accounting as well as various courses for continuous upgrading of skills of the accounting personnel and for newly appointed personnel, given by experts and knowledgeable persons on an ad-hoc basis.