How the Jupyter Notebook makes the corporate tax process easier and better

Description

The original issued discount (OID) is a type of interest that is not payable as it accrues, which plays a critical role in corporate tax provision and return. The calculation of OID for pools of credit card receivable (CCR pools) is very complicated and involves intensive data manipulation and computation from multiple sources.

While Microsoft Excel is the default tool for tracking information and managing tasks in the corporate world, Jinli Ma explains how the Jupyter Notebook does a better job than Microsoft Excel with the OID calculation process. Jinli focuses on data management, automation, and documentation of the process. He first demonstrates how the OID process is constructed, executed, updated, and maintained in Microsoft Excel and shares challenges and limitations experienced during each phase. He then explains how this process is developed, innovated, automated, validated, executed, maintained, extended, and documented in the Jupyter Notebook and details how each challenge encountered with Microsoft Excel is resolved.

Topics include:

• Manipulation of GL data (tax accounting data) using pandas
• Tax process automation using the Jupyter Notebook
• Data validation between different sources
• Data visualization in corporate tax reporting
• Documentation of corporate tax process