Walmart's Accounting Principles

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Four Accounting Principles Sharon Wallace American Intercontinental University Accounting Principles 2012 Four Accounting Principles ABSTRACT Accounting principles used by Wal-Mart and the core function of its departments. Wal-Mart’s strength and weaknesses will be listed. Wal-Mart’s last two years of accounting statements are also present. FOUR ACCOUNTING PRINCIPLES There are four key assumptions in the generally accepted accounting principles. The key assumptions in generally accepted accounting principles are business entity, going concern, monetary unit and time period principle. Wal-Mart uses…show more content…
You should present all the facts you are aware of without any of your personal opinion, bias, or judgment to make the investigation true. I believe this is a good way to keep a corporation honest is by encouraging people to contact the right people if they believe you are not being honest.(Wal-Mart stores, 2012). According to Wal-Mart’s financial statement they are following these guide lines they also show you their debt. 2011 | | 2010 | | 2009 | | 2008 | | 2007 | | Operating Results (1) Net sales Net sales increase Comparable store sales in the United States (2) Wal-Mart U.S. Sam’s Club Gross profit margin | | $418,952 3.4% -0.6% -1.5% 3.9% 24.7% | | $405,132 1.0% -0.8% -0.7% -1.4% 24.9% | | $401,087 7.3% 3.5% 3.2% 4.9% 24.2% | | $373,821 8.4% 1.6% 1.0% 4.9% 24.0% | | $344,759 11.6% 2.0% 1.9% 2.5% 23.4% | Operating, selling, general and administrative expenses, | | as a percentage of net sales Operating income Income from continuing operations attributable to Wal-Mart | | 19.3% $ 25,542 15,355 | | 19.7% $ 24,002 14,449 | | 19.3% $ 22,767 13,235 | | 19.0% $ 21,916 12,841 | | 18.5% $ 20,552 12,224 | Net income per share of common stock:
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