Explaining What ASC 740 Is and What It Does for Major Companies

by | Sep 12, 2022 | Shares Investing

ASC 740 software is a hot topic with major corporations, especially as tax season approaches. The software can also handle processing tax situations for big companies on a quarterly and semi-annual basis. Doing so keeps a company’s numbers and books in line so that when annual tax documents are filed, they line up with tax documents that were filed a few months to several months before. If you are looking at ways of navigating your company’s taxes in the state in which your company operates, it helps to know what ASC 740 software is, and what it does.

What ASC Is

ASC is an integrated software and AI program. The AI aspect assists you by asking questions and providing advice or feedback based on its extensive knowledge of taxes across the country. If you don’t want to use the AI for anything, it does have a mute feature that allows you to turn it off until you are about to finalize a tax record or document. Then the AI goes over the forms and assesses the forms for possible errors and risks to your company.

What ASC 740 Does

Rather than hire an accountant and go through the expense and rigamarole of doing company taxes you can use the ASC software. It is fully equipped with all of the tax laws you need, all of the tax solutions to corporate and business tax issues you could possibly have, and the AI that can answer questions when your employees are stuck.

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