Assume you are employed as the chief financial officer of a corporation and are responsible for preparation of the financial statements, including the adjusting process and preparation of the adjusted trial balance. The company is facing a slow year, and after your adjusting entries, the financial statements are accurately reflecting that fact. However, as you are discussing the matter with your boss, the chief executive officer $($CEO$),$ he suggests that you have the power to make further adjustments to the statements, and that you should use that power to "adjust" the profits and equity into a stronger position, so that investor confidence in the company's prospects will be restored.

Assignment Instructions

Write a short memo to the CEO, stating your intentions about what you can and$/$or will do to make the financial statements more appealing.

Be specific about any planned adjustments that could be made, assuming that normal period$-$end adjustments have already been reflected accurately in the financial statements that you prepared. are to be from chapter $4.$