Patent ID: 7991660

Claim:
A multi-user information processing method for a multi-jurisdictional entity for managing said entity's tax provision based on data originating from at least one jurisdiction, comprises: a. collecting said data from each jurisdiction of said multi jurisdictional entity with an import engine; b. storing said data for determining the tax provision of said multi jurisdictional entity in a source database, wherein said tax provision comprising current and deferred tax provision, which are estimated tax expenses that may be later adjusted based on required changes to the entity's filed tax return, for its tax return to be filed for the current year, and that are certain to come due in the future, respectively; c. calculating said tax provision of said multi jurisdictional entity in accordance to a predetermined, non-governmental, accounting standard from said data stored in said source database with a calculation engine; d. storing said tax provision of said multi-jurisdictional entity as determined by said calculation engine in a transformed database; e. producing reports for the entity's financial statement to be filed with and as required by a regulatory authority using said tax provision from said transformed database with a report engine; f. accessing said source database and said transformed database with a user interface unit; g. testing different scenarios of said tax provision for tax planning purposes by changing said tax provision stored in said transformed database with said user interface unit; h. automatically tracking the changes made to said tax provision stored in said transformed database for reconciliation of said tax provision to the filed tax return with a tracking engine; and i. automatically tracking the origination of said tax provision to support the financial statement to be filed with the regulatory authority with said tracking engine.