A.

Advanced accounting
1. Deferred taxes
2. Stock-Based Compensation
3. Intercompany investment
4. Deabt accounting, PIK, Capitalized interest, OID, OIP
5. Lease Accounting
6. Lease Accounting Nuances

1. Deferred Taxes The tax expense that a company reports on its US GAAP or IFRS-based I/S does
not equal actual cash taxes paid. The differences are represented on the
financial statement as deferred tax assets and liabilities.

Deferred taxes: The taxes that a company reports on its I/S (book purposes) are
comprised of 2 components:
- Cash taxes paid to the IRS
- Deferred tax assets and liabilities: caused by temporary timing
differences between the accounting of expenses / (income) for book
purposes and tax purposes.