Financial Statement Analysis and Reformulation

A. Conduct an accounting analysis of the general-purpose financial statements and identify financial statement adjustments as necessary. A representative set of accounting analyses follows and must be conducted for the current and preferably one prior year (additional prior years are optional for this project). The following list is not exhaustive-see individual modules and class notes for detailed adjustments and guidance.

1. Identification of operating and nonoperating income components, and their persistence.

2. Analysis of the allowance of uncollectible accounts, and any necessary adjustments.

3. Analysis of the allowance of inventory accounts, and any needed adjustments, including LIFO reserves.

4. Analysis of restructurings, asset sales, and other transitory operating components, including adjustments.

5. Assessment of intercorporate investments, and any necessary adjustments.

6. Analysis of allowances on other key accounting accruals (assets and liabilities), and any adjustments.

7. Analysis of the deferred tax valuation allowance account(s), and any necessary adjustments.

8. Assessment of debt covenants and credit ratings.

9. Analysis and reformulations for off-balance-sheet financing, and any necessary adjustments.

10. Analysis and assessment of foreign currency translations, including forecasting implications.

11. Analysis and adjustments for any asset impairments.

Attachment:- Community Health Systems Form 10-K.rar