Wall Street Prep – Advanced Accounting

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Description of Advanced Accounting

Master accounting topics that pose a particular challenge to finance professionals. Includes 6+ hours of step-by-step video instruction filled with real world exercises for advanced accounting.

Complex Accounting Topics Demystified:

• A practical look at the “blind spots” of accounting — topics that appear frequently in real-world financial analysis but aren’t covered in most accounting courses.
• Covers stock based compensation, deferred taxes, financial instruments, debt accounting, lease Accounting, M&A accounting and more
• Filled with step-by-step exercises encountered on the job.

What will you learn in Advanced Accounting?

Chapter 1: Deferred Taxes

• 1. Advanced Accounting Course Welcome
• 2. Course Downloads
• 3. Introduction to Deferred Taxes
• 4. Deferred Tax Liabilities Exercise, Part 1
• 5. Deferred Tax Liabilities Exercise, Part 2
• 6. Book vs. Tax Basis
• 7. Deferred Tax Assets Exercise, Part 1
• 8. Deferred Tax Assets Exercise, Part 2
• 9. Introduction to NOLs
• 10. NOLs illustration
• 11. NOLs-related tax journal entries
• 12. NOLs exercise solution
• 13. Valuation Allowance
• 14. Valuation Allowance Journal Entries
• 15. Presentation of NOLs in Financials

Chapter 2: Stock Based Compensation

• 16. Stock Based Compensation
• 17. Stock Based Compensation Accounting: Journal Entries

Chapter 3: Intercompany Investments

• 18. Introduction to Intercompany Investments
• 19. Trading, Available for Sale & Held to Maturity Securities
• 20. Equity Method, Part 1
• 21. Equity Method, Part 2
• 22. Deferred Taxes & Dividends Received Deductions Arising From Equity Investments
• 23. Paying in Excess of Book Value Under Equity Method
• 24. Paying in Excess of BV Exercise
• 25. Consolidation Method & Noncontrolling Interests, Part 1
• 26. Consolidation Method & Noncontrolling Interests, Part 2
• 27. Consolidation Method & Paying in Excess of BV
• 28. Advanced Accounting Review 1

Chapter 4: Debt Accounting; PIK; Capitalized Interest; OID & OIP

• 29. Introduction & PIK Debt
• 30. Capitalized Interest
• 31. Original Issue Discount
• 32. OID Zero Coupon Exercise
• 33. OID With Coupon Exercise
• 34. OIP With Coupon Exercise
• 35. Debt Accounting: Financing Fees
• 36. Deferred Taxes Arising from OID & OIP
• 37. Deferred Taxes Arising from OID & OIP, Exercise 1
• 38. Deferred Taxes Arising from OID & OIP, Exercise 2
• 39. Deferred Taxes Arising from OID & OIP, Exercise 3

Chapter 5: Lease Accounting

• 40. Introduction to Lease Accounting
• 41. Lease accounting IFRS vs. US GAAP
• 42. Lease Presentation on the Balance Sheet
• 43. Operating Lease Accounting Overview
• 44. Exercise: Straight-Line Rent Expense
• 45. Exercise: ROU and Lease Liability Initial Entries
• 46. Imputed Interest
• 47. ROU Depreciation Amortization
• 48. Lease Liability Accounting
• 49. ROU Asset and Lease Liability Roll-Forward
• 50. Operating Lease Journal Entries
• 51. Finance vs Operating Lease Classification
• 52. Finance Lease Accounting
• 53. Finance Lease Roll Forwards
• 54. Lease Footnote Disclosures
• 55. Cash Flow Statement Leases Presentation
• 56. Lease Accounting Summary

Chapter 6: Lease Accounting Nuances

• 57. Impact of Lease Commencement Payment
• 58. Lease Liability Rollforward Walk Though
• 59. ROU Exercise: Operating Leases
• 60. ROU Exercise: Operating Leases Walk Through
• 61. Exercise: Finance Leases

Chapter 7: Stock Sale v Asset Sale

• 62. Stock Sale v. Asset Sale Intro
• 63. Tax Basis Step Ups in Stock sale vs Asset sale
• 64. Quantifying PV of Acquirer Tax Benefits in Tax Basis Step Up
• 65. Seller Preferences in M&A Deal Structuring
• 66. Calculating Target Proceeds in M&A in Asset vs. Stock Sale
• 67. Taxable Sales: Introduction and Acquirer Perspective
• 68. Taxable Sales including 338(h)(10): Target Perspective
• 69. NOLs in M&A
• 70. NOLS in M&A exercise
• 71. NOLs for 80%+ owned subsidiaries
• 72. Selling S-Corporations and subsidiaries
• 73. Aggregate Deemed Sales Price (ADSP)
• 74. Taxable Sales Exercise
• 75. Nontaxable Sales
• 76. Advanced Accounting Review 3

Who is Advanced Accounting for?

This advanced accounting course is designed for professionals and those pursing a career in the following finance careers:

• Investment Banking
• Buy-Side Equity Research
• Sell-Side Equity Research
• Private Equity
• Credit Research
• FP&A and Corporate Finance

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