Accounting homework help

Accounting homework help. FINANCIAL STATEMENT PROJECT PART 1

SPRING 2020

Financial Accounting Case Requirements

For this project, you will be analyzing the financial statements of two county hospital districts:  Dallas County Hospital District: Parkland Health & Hospital System and Bexar County Hospital District: University Health System. The audited financial statements of each are provided.  You will draw conclusions about the overall health of each hospital district. Your project will be submitted in three individual submissions that will detail your analysis over the course of the term.

General Writing Instructions

Your source documents for the information you will be using for this project will primarily be the hospitals’ annual financial statements. To follow are a list of questions and other requirements. You are to use the financial statements provided for each hospital district to answer the questions.  As you answer the questions, you only need to take into consideration the Health System for each hospital district, not the various component units.

As you answer the following questions, remember that the financial statements present summarized information.  You can often find more detailed information in the footnotes to the financial statements.  Be sure to utilize both sources of information in answering the questions.  Most annual financial statements/reports will also include a Management Discussion & Analysis (MD&A) section.  This section can provide useful background information in understanding management’s perspective as to why the financial results turned out as they did.  You should primarily focus on the audited financial statements and footnotes when answering the questions and then supplement this with information from the MD&A section as needed.

 

 

WRITE YOUR DETAILED ANSWERS BELOW EACH QUESTION HIGHLIGHTED IN RED.

Project Part 1: Balance Sheet & Statement of Cash Flows

Cash & Short Term Investments

1. In general, what are assets?  How are current assets distinguished from other categories of assets?
2. On what financial statement(s) do you find “Cash and cash equivalents” (or similarly-named account)?
3. How much cash do the hospitals have at the end of each of the most recent two years presented?
4. Comparing the most recent two years in the financial statements, has each hospital’s cash increased or decreased?
5. For each hospital, what activities generated the three largest cash inflows during the most recent year presented?  What activities generated the three largest amounts of cash outflows during the most recent year presented?  On what financial statement(s) do you find this information?
6. What type(s) of short-term investments does each hospital have, if any? On what financial statement do you find short-term investments? What distinguishes a short term investment from a long term investment?

Receivables

1. What type of receivables does each hospital have?
2. Are all receivables classified as current assets?  What does this classification indicate about the receivables?
3. What do you know about the hospital’s Allowance for Uncollectible Accounts? What name does the hospital call its allowance? Where in the hospital’s financial statements do you find this information?  What is the purpose of this allowance account?
4. What is the gross amount of the hospital’s patient receivables? What types of payers make up this balance? Which type of payer makes up the largest portion of the patient receivables balance for each hospital? What percentage of this gross amount is its allowance?

 Property, Plant & Equipment

1. On which financial statement do you find Property, Plant and Equipment? What account title does the hospital use for its PP&E? What types of Property, Plant and Equipment are listed on the financial statement? How much does each hospital have in PP&E at the end of the most recent year presented? In Accumulated Depreciation?
2. Referring to the footnotes that are related to PP&E, what specific categories or types of PP&E does each hospital have?
3. What depreciation method(s) does the hospital use?
4. Over what range of useful lives do the hospitals depreciate its various types of plant assets?
5. How much depreciation expense is reported for each hospital in the most recent year?

Current Liabilities

1. In general, what are liabilities?  What is the difference between current liabilities and long term liabilities?
2. On which financial statement do you find current liabilities? What types of current liabilities does each hospital have?
3. What is the total amount of current liabilities for each hospital for the most recent year presented?

Long Term Liabilities

1. On which financial statement do you find long-term liabilities? What types of long-term liabilities do each hospital have?
2. What information is provided in the notes to the financial statement with respect to the hospital’s long-term liabilities? Give a summary; you do not need to go into depth.

Equity – Net Position

1. Locate the net position section on the balance sheet. What is the total net position of each hospital as of the most recent year presented?  What categories of net position are presented?  What does each category represent?
2. Did each hospital’s net position increase or decrease for the most recent year presented?  What was the cause of this increase or decrease?  On which financial statement would you find this information?

Statement of Cash Flows

1. What type of activity (operating, financing, or investing) in total generated the most cash flows for each hospital in the most recent year presented? What conclusions can you draw with regards to this?
2. Did each hospital buy or sell more capital assets in the most recent year as compared to the prior year?
3. Did each hospital buy or sell more investments in the most recent year as compared to the prior year?
4. Why is cash flows from operations different than operating income(loss) as reported on the statement of revenues, expenses and changes in net position?  What are the two largest items causing this difference for each hospital in the current year?  Where did you find this information?

Submission Instructions

You should provide your answers for the Financial Statement Project Part 1 in one cohesive document (11 point font, Calibri or Candara, 1 inch margins, Word format.) Use headings to make your document readable.  I would suggest headings for each of the sections of part 1.  Please use proper English, grammar, and spelling. Your paper will be checked for plagiarism. You will submit your final paper in Blackboard. Your project must be submitted no later than Wednesday, June 24, 2020, 11:59pm Central Time.

 

Accounting homework help