Advanced Accounting for MS in Accounting [ACCT-GB.3330]

Accounting for Income Taxes, Acquisitions, Foreign Operations, and Derivatives


Bio Overview Disclaimers Prerequisites Help Materials Assignments Grading Schedule

This course is offered only once in spring on M-W afternoons.


This advanced level course is part of the NYU Stern MS in Accounting program. It will teach you the following topics that are crucial for a graduate degree in accounting. Learning these topics will be intense but the knowledge gained will be highly useful in your career.




Help and Office

Materials and Course Design


Exams and Grading

Important computer tips for the final


1. Deferred taxes: An introduction

We will skip this part if you are already comfortable with it based on the coverage in prior classes.

Permanent versus temporary differences

2. Deferred taxes: Four key examples

Taxable and deductible temporary differences

3. Deferred taxes: Intermediate issues

Accumulated other comprehensive income

Tax credit carryforwards and tax loss carrybacks and carryforwards

Valuation allowance

4. Investments

Financial investments

When there is no consolidation

Introduction to consolidation

5. Acquisitions: An example to illustrate the overall process

On the acquisition date

Post acquisition date

6. Acquisitions: Scope and Consideration paid

Scope of ASC 805

Consideration paid

7. Acquisitions: Acquired assets and liabilities

Acquired assets

Acquired pre-tax liabilities

Deferred tax liabilities and assets


8. Acquisitions: Post-acquisition date accounting



9. Acquisitions: Non-controlling interest

When the parent retains control

When the parent acquires or relinquishes control

10. Foreign Operations

Overview of the process



11. Intercompany transactions

Purchase and sale of inventory and long-lived assets

Intercompany debt

12. Introduction to derivatives

Institutional knowledge

Commonly used derivatives

13. Hedge accounting

The five possibilities