TAX Accountant Question:

Having just graduated from college, I haven't faced a lot of tough accounting tasks in the real world. However, I'm graduating at the top of my class from the University School of Accounting, which is ranked one of the top schools in the nation. And I'm confident I can solve any accounting problem as well, if not better, than any of my fellow students--and probably as well as most first or second year associates. This last summer I worked as an intern with Ernst & Young on their tax consulting team based in San Francisco. Over 200 students applied for the internership. Myself and one other student were selected to participate. While working with Ernst & Young I was assigned several challenging accounting tasks including one where I was required to make recommendations for restructing the debt of a multi-national corporation...