Wal Mart Is A Public Corporation

1300 WordsMar 2, 20176 Pages
Founded by Sam Walton, Wal-Mart is a global discount retailer headquartered in Bentonville, a small city in Arkansas, USA. Wal-Mart is a public corporation, the largest public corporation by revenue, one of the biggest retailers in the world, and its stock is traded in several international stock exchanges. Walmart has grown over the last 50 years, nearly 260 million customers visit our more than 11,500 stores under 63 banners in 28 countries and ecommerce sites in 11 countries each week. With fiscal year 2016 revenue of $482.1 billion, Walmart employs 2.3 million associates worldwide 1.5 million in the U.S. Wal-Mart provides general merchandise: family apparel, health & beauty aids, household needs, electronics, toys, fabrics, crafts,…show more content…
Key financial ratios for retailers focus on aspects of income, liquidity and profitability. It is crucial for retail stores to consider key financial ratios, however, is just the starting point. Once calculated, the comparison of these ratios to industry standards would serve as targets to improve and review their own performance over time. Through comparison and trend analysis, managers can further identify key areas of weaknesses that may need immediate attention. Considering income retail managers turn to the gross margin as an indication of the sales dollars remaining after subtracting the costs of purchasing merchandise. Managers use this as a key indicator of their ability to convert existing inventory into future cash. Audit planning provides specific guidelines that auditors need to follow when conducting an external audit. External public accounting requires external audit to ensure that the outside stakeholders and ensure that the company financial statements are prepared in accordance with the GAAP or IFRS. To create the audit plan for Wal-Mart Stores Inc. it requires that I understand the entity, its environment and its external control system. My audit plan will involve assessing risk of material misstatement that
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