This document provides an overview of Walmart Inc.'s annual report, including information on its operating divisions, segments, and financial reporting. The key points are:
- Walmart has four main divisions: Walmart U.S., Walmart International, Sam's Club, and Global Ecommerce. It operates various retail formats across these divisions.
- The annual report contains financial and operational information for the year, including management analysis and financial statements. It provides shareholders and creditors insight into the company's performance and plans.
- The report discusses Walmart's three main segments: Walmart U.S., Walmart International, and Sam's Club. It provides details on the segments' store formats, merchandise mix
The document defines and explains the key components of a country's balance of payments. It states that the balance of payments is a systematic record of all economic transactions between residents of a country and the rest of the world. It includes accounts for goods, services, unilateral transfers, long-term capital, short-term capital, and international liquidity. Each account records receipts and payments of transactions such as exports/imports, transportation fees, foreign aid, investments, bank deposits, and changes in foreign reserves. The document provides examples to illustrate the calculation and impact of surpluses or deficits in the overall balance of payments.
This document defines and discusses various types of ratio analysis used in accounting. It begins by defining a ratio as a mathematical relationship between two quantitative figures. It then outlines the main steps in ratio analysis and some key advantages and limitations. The rest of the document categorizes ratios in several ways: by financial statements, by intended users, by relative importance, and by purpose/function. It provides examples of specific ratios that fall under each of these categories, such as liquidity ratios, profitability ratios, and turnover ratios. The document aims to provide an overview of the different approaches to ratio analysis in accounting.
Financial statement analysis involves analyzing a company's financial statements to assess its performance and financial position. It is done by both internal managers and external parties such as investors and creditors. Key aspects of financial statement analysis include ratio analysis, trend analysis, and comparative analysis. Ratio analysis calculates and analyzes financial ratios to evaluate aspects such as liquidity, asset efficiency, debt levels, profitability, and investor returns. Trend analysis examines changes in financial metrics over several periods. Comparative analysis compares financial results to other companies or years. The overall goal is to evaluate the company's financial health and identify strengths and weaknesses.
This document provides an overview and analysis of Walmart, including:
- Its history beginning in the 1950s with Sam Walton's stores and its rapid expansion to become the largest retailer in the U.S. by the 1990s.
- Corporate governance details like the Walton family owning 51% of shares and top institutional shareholders including Vanguard Group, State Street Group, and Berkshire Hathaway.
- Sections on financial analysis, estimating Walmart's cost of capital, optimal capital structure, cash redistribution to shareholders, and comparisons to competitors.
- Tables and figures are provided to support the financial analysis and ownership breakdown.
International Accounting - Introduction, Meaning, definition, Scope and NeedsSundar B N
International accounting involves accounting for transactions between countries, comparing accounting principles and practices across countries, and providing useful financial information from a global perspective. It has a wide scope, including recording foreign transactions, translating currencies, consolidating international financial statements, managing exchange rate risk, accounting for new financial instruments, and ensuring consistent reporting and disclosure globally. International accounting aims to harmonize practices internationally to facilitate informed decision-making and efficient capital allocation across borders.
Pharmaceutical Industry Financial Analysisjpotts89
This is a presentation that was completed for my Corporate Finance class my senior year with a team of three other students. I did my valuation of Eli Lilly.
A disequilibrium in the balance of payments (BOP) refers to a surplus or deficit. A surplus occurs when total receipts exceed total payments, while a deficit happens when total payments are greater than total receipts. The BOP can be favorable or unfavorable depending on whether credits are greater or less than debits. Causes of disequilibrium include temporary factors, changes in national income, inflation, economic development stage, borrowing and lending amounts, exchange rate fluctuations, and political instability. There are also different types of disequilibrium such as cyclical, structural, short-run, and long-run. Too much disequilibrium can negatively impact a country's growth and competitiveness. Measures to address
International financial management involves managing finances across borders to maximize shareholder wealth. It emerged as countries liberalized and opened their economies. Managing international finances differs from domestic finances in areas like foreign exchange risk, political risk, market imperfections, and enhanced opportunities. Companies can raise capital abroad through licensing, franchising, subsidiaries, strategic alliances, and exports. Proper international financial management helps organizations operate efficiently in global markets.
The document defines and explains the key components of a country's balance of payments. It states that the balance of payments is a systematic record of all economic transactions between residents of a country and the rest of the world. It includes accounts for goods, services, unilateral transfers, long-term capital, short-term capital, and international liquidity. Each account records receipts and payments of transactions such as exports/imports, transportation fees, foreign aid, investments, bank deposits, and changes in foreign reserves. The document provides examples to illustrate the calculation and impact of surpluses or deficits in the overall balance of payments.
This document defines and discusses various types of ratio analysis used in accounting. It begins by defining a ratio as a mathematical relationship between two quantitative figures. It then outlines the main steps in ratio analysis and some key advantages and limitations. The rest of the document categorizes ratios in several ways: by financial statements, by intended users, by relative importance, and by purpose/function. It provides examples of specific ratios that fall under each of these categories, such as liquidity ratios, profitability ratios, and turnover ratios. The document aims to provide an overview of the different approaches to ratio analysis in accounting.
Financial statement analysis involves analyzing a company's financial statements to assess its performance and financial position. It is done by both internal managers and external parties such as investors and creditors. Key aspects of financial statement analysis include ratio analysis, trend analysis, and comparative analysis. Ratio analysis calculates and analyzes financial ratios to evaluate aspects such as liquidity, asset efficiency, debt levels, profitability, and investor returns. Trend analysis examines changes in financial metrics over several periods. Comparative analysis compares financial results to other companies or years. The overall goal is to evaluate the company's financial health and identify strengths and weaknesses.
This document provides an overview and analysis of Walmart, including:
- Its history beginning in the 1950s with Sam Walton's stores and its rapid expansion to become the largest retailer in the U.S. by the 1990s.
- Corporate governance details like the Walton family owning 51% of shares and top institutional shareholders including Vanguard Group, State Street Group, and Berkshire Hathaway.
- Sections on financial analysis, estimating Walmart's cost of capital, optimal capital structure, cash redistribution to shareholders, and comparisons to competitors.
- Tables and figures are provided to support the financial analysis and ownership breakdown.
International Accounting - Introduction, Meaning, definition, Scope and NeedsSundar B N
International accounting involves accounting for transactions between countries, comparing accounting principles and practices across countries, and providing useful financial information from a global perspective. It has a wide scope, including recording foreign transactions, translating currencies, consolidating international financial statements, managing exchange rate risk, accounting for new financial instruments, and ensuring consistent reporting and disclosure globally. International accounting aims to harmonize practices internationally to facilitate informed decision-making and efficient capital allocation across borders.
Pharmaceutical Industry Financial Analysisjpotts89
This is a presentation that was completed for my Corporate Finance class my senior year with a team of three other students. I did my valuation of Eli Lilly.
A disequilibrium in the balance of payments (BOP) refers to a surplus or deficit. A surplus occurs when total receipts exceed total payments, while a deficit happens when total payments are greater than total receipts. The BOP can be favorable or unfavorable depending on whether credits are greater or less than debits. Causes of disequilibrium include temporary factors, changes in national income, inflation, economic development stage, borrowing and lending amounts, exchange rate fluctuations, and political instability. There are also different types of disequilibrium such as cyclical, structural, short-run, and long-run. Too much disequilibrium can negatively impact a country's growth and competitiveness. Measures to address
International financial management involves managing finances across borders to maximize shareholder wealth. It emerged as countries liberalized and opened their economies. Managing international finances differs from domestic finances in areas like foreign exchange risk, political risk, market imperfections, and enhanced opportunities. Companies can raise capital abroad through licensing, franchising, subsidiaries, strategic alliances, and exports. Proper international financial management helps organizations operate efficiently in global markets.
The document discusses various types of financial statements and analysis techniques. It provides information on income statements, balance sheets, cash flow statements, and their components. It also describes various analysis methods used to evaluate financial statements such as comparative statements, trend analysis, and ratio analysis including liquidity, activity, solvency, and profitability ratios. The document aims to explain financial statements and the analysis techniques used to evaluate the financial position and performance of a business.
The document provides an overview of international financial management. It discusses key concepts such as maximizing shareholder wealth, acquiring funds and making investment decisions. It also covers the nature and scope of international finance, including the roles of treasurers and controllers. Additionally, it outlines some of the major risks and theories related to international trade and business methods like licensing and exporting.
Unit 2.2 Exchange Rate Quotations & Forex MarketsCharu Rastogi
This presentation deals with exchange rate quotations, common currency symbols, direct and indirect quotes, American terms, European terms, cross rates, Bid and Ask rates, Mid rate, Spread and its determinants, Spot markets, Forward Markets, Premium and Discounts, various practices of writing quotations, calculating broken period forward rates, Speculation and arbitrage, Forex futures and Currency Options.
Case analysis of wells fargo corporationRifat Ahsan
This document contains a case analysis report on Wells Fargo Corporation from 2009 submitted to a university professor. It includes an executive summary, description of the company, customer analysis, SWOT analysis, and proposed solutions for Wells Fargo's future including projected financial statements, capital raising, and management strategies. A group of 10 students conducted the analysis as a class assignment.
The bond market in Sri Lanka began actively developing in the 1990s with the issuance of medium and long-term bonds by both the government and corporate sector. Over time, reforms shifted government borrowing towards marketable Treasury bonds to develop a benchmark yield curve. While the government bond market is well developed, the corporate bond market remains relatively small due to high costs, a small corporate sector, and availability of alternative funding. Further initiatives aim to improve market infrastructure and attract foreign investment to develop both markets.
The document discusses the balance of payments, which is a systematic record of all monetary transactions between a country and the rest of the world over a period of time, usually one year. It includes transactions by citizens and the government. The balance of payments considers all transactions, while the balance of trade only considers trade transactions. A country aims for its balance of payments to equal zero. The main components are the current account, capital account, reserve accounts, and errors and omissions. The document also discusses causes of imbalances and measures to correct adverse balances, such as increasing exports, reducing imports, and controlling the population.
Differences between Financial accounting vs Managerial accountingAbdul Motaleb
The document compares and contrasts financial accounting and managerial accounting. Financial accounting provides information externally for investors, creditors, and other external stakeholders, focusing on historical results. Its reports follow standard formats. Managerial accounting provides internal information to management for planning, decision making, and control. It focuses on present and future forecasts. Managerial accounting reports are informal and provided as needed by management, with the goal of helping managers operate and improve the business.
Limitations of financial statements analysisSteveS36
Financial statements have several limitations for analysis:
1) They are based on historical data and do not reflect current asset values or predict future performance.
2) Interim reports may provide an incorrect view by only looking at one time period.
3) Figures can be distorted if management skews results to meet targets or comparisons across companies are not consistent due to different accounting practices.
4) Personal judgment in valuing assets and non-consideration of inflation can impact the accuracy and usefulness of financial analysis.
Foreign Exchange Quotation – Direct & IndirectSundar B N
This document discusses foreign exchange quotations and methods of quoting exchange rates. It explains that exchange rates quote a fixed unit of foreign currency against a variable amount of the domestic currency. There are two main types of quotes - direct quotes which give the price of foreign currency in terms of the domestic currency, and indirect quotes which give the price of the domestic currency in terms of foreign currency. Some key points covered include that exchange rates can be quoted for spot transactions settling in 2 days or for future dates, and cross rates quote the price of one non-domestic currency in terms of another non-domestic currency.
ANALYSIS OF FINANCIAL STATEMENTS ch# 03KaleemSarwar2
This document discusses various tools and techniques for analyzing financial statements, including ratio analysis. It explains that ratio analysis involves expressing logical relationships between financial statement items through calculations like percentages. Some common ratios mentioned include current ratio, quick ratio, inventory turnover, debt ratio, and times interest earned. The document also categorizes ratios and discusses what types of questions different ratios can help answer regarding a company's liquidity, asset management, debt, profitability, and market value.
Meaning
Purpose or utility of common size statement
Common Size Balance sheet
Purpose of common size balance sheet
Format of common size balance sheet
Illustration
Exercise
Common Size Statement of profit & loss
Purpose of common size statement of profit & loss
Format of common size statement of profit & loss
Illustration
Exercise
This document is a presentation on working capital management by students from World University of Bangladesh. It includes the names and IDs of the group members, as well as objectives to analyze working capital management practices of a textile company through ratios and determine problems and suggestions. It discusses concepts of working capital, components of current assets and liabilities, classifications, determinants, control techniques, and importance of adequate but not excessive working capital management.
This document provides an analysis of various financial ratios for a company over two years. It begins with an introduction to ratio analysis and its importance. It then calculates and interprets various ratios including current ratio, debt to equity ratio, net profit margin, gross profit margin, inventory turnover, debtors turnover, creditors turnover and return on capital employed. The analysis found that the current ratio and return on capital employed increased slightly but debt to equity ratio also increased, indicating less financial stability. Profit margins were low. Inventory turnover and creditors turnover decreased. The conclusion recommends the company improve utilization of assets, pricing strategies and timely payment of creditors.
Control accounts help locate errors and provide a summary of total debtor and creditor balances. They are prepared separately from the sales and purchases ledgers. Control accounts take the form of accounts, with debit totals from the ledger on the left and credit totals on the right. The sales ledger control account equals total debtors, and the purchases ledger control account equals total creditors. Minority balances can occur temporarily in the control accounts due to returns or claims after settlement. The self-balancing system treats control accounts as part of double entry, while the sectional balancing system treats debtors/creditors accounts as double entry and control accounts as memorandum.
This document provides an overview of balance of payments (BOP) accounting. It defines BOP as a systematic record of all economic transactions between a country and the rest of the world. It notes that BOP has three main components: the current account balance, capital account balance, and the overall BOP. The current account tracks goods/services exports and imports, while the capital account tracks financial flows. The document also discusses factors that can cause BOP disequilibriums and monetary/non-monetary policy tools to correct imbalances, such as devaluation, export promotion, and tariffs.
The document discusses the fundamentals of a funds flow statement, including its meaning, objectives, importance, limitations, and preparation. A funds flow statement indicates changes in financial position between two balance sheet dates, showing sources and uses of funds. It aims to analyze changes in working capital and determine causes. While useful for management, shareholders, and financiers, it also has limitations like being historic and ignoring non-fund transactions. Preparing one requires the current and prior year's balance sheets and income statement.
Presentation - Global financial crisis 2008Mohit Rajput
The document provides an overview of the global financial crisis of 2008. It describes how the crisis originated from the subprime mortgage crisis in the United States, where risky lending practices led to many homeowner defaults which subsequently impacted financial institutions globally. As asset prices fell and credit markets froze, there were banking failures across Europe and a global recession ensued, with rising unemployment and declines in GDP and stock prices around the world. India was also impacted via slowing economic growth, though its financial system had less direct exposure than Western nations.
This document provides an overview of key accounting concepts and principles including:
- Accounting measures and communicates financial information as the language of business. It has internal and external users.
- There are three main fields: management, financial, and public sector accounting. Standards are set by groups like FASB, SEC, and AICPA.
- Business organizations can be proprietorships, partnerships, or corporations, each with advantages and disadvantages.
- Key concepts include the accounting equation, GAAP, revenues/expenses, and preparing financial statements like the income statement, balance sheet, and statement of cash flows to evaluate business performance.
Walmart is the world's largest company by revenue and the biggest private employer. Founded in 1962 by Sam Walton, it now operates over 11,000 stores worldwide under 55 banners. Its main divisions are Walmart Stores US, Sam's Club, and Walmart International. While known for its low prices due to large scale and supply chain management, Walmart also faces criticisms around labor issues and impact on local communities. It seeks further growth through expansion in emerging markets and increasing online sales.
The document discusses various types of financial statements and analysis techniques. It provides information on income statements, balance sheets, cash flow statements, and their components. It also describes various analysis methods used to evaluate financial statements such as comparative statements, trend analysis, and ratio analysis including liquidity, activity, solvency, and profitability ratios. The document aims to explain financial statements and the analysis techniques used to evaluate the financial position and performance of a business.
The document provides an overview of international financial management. It discusses key concepts such as maximizing shareholder wealth, acquiring funds and making investment decisions. It also covers the nature and scope of international finance, including the roles of treasurers and controllers. Additionally, it outlines some of the major risks and theories related to international trade and business methods like licensing and exporting.
Unit 2.2 Exchange Rate Quotations & Forex MarketsCharu Rastogi
This presentation deals with exchange rate quotations, common currency symbols, direct and indirect quotes, American terms, European terms, cross rates, Bid and Ask rates, Mid rate, Spread and its determinants, Spot markets, Forward Markets, Premium and Discounts, various practices of writing quotations, calculating broken period forward rates, Speculation and arbitrage, Forex futures and Currency Options.
Case analysis of wells fargo corporationRifat Ahsan
This document contains a case analysis report on Wells Fargo Corporation from 2009 submitted to a university professor. It includes an executive summary, description of the company, customer analysis, SWOT analysis, and proposed solutions for Wells Fargo's future including projected financial statements, capital raising, and management strategies. A group of 10 students conducted the analysis as a class assignment.
The bond market in Sri Lanka began actively developing in the 1990s with the issuance of medium and long-term bonds by both the government and corporate sector. Over time, reforms shifted government borrowing towards marketable Treasury bonds to develop a benchmark yield curve. While the government bond market is well developed, the corporate bond market remains relatively small due to high costs, a small corporate sector, and availability of alternative funding. Further initiatives aim to improve market infrastructure and attract foreign investment to develop both markets.
The document discusses the balance of payments, which is a systematic record of all monetary transactions between a country and the rest of the world over a period of time, usually one year. It includes transactions by citizens and the government. The balance of payments considers all transactions, while the balance of trade only considers trade transactions. A country aims for its balance of payments to equal zero. The main components are the current account, capital account, reserve accounts, and errors and omissions. The document also discusses causes of imbalances and measures to correct adverse balances, such as increasing exports, reducing imports, and controlling the population.
Differences between Financial accounting vs Managerial accountingAbdul Motaleb
The document compares and contrasts financial accounting and managerial accounting. Financial accounting provides information externally for investors, creditors, and other external stakeholders, focusing on historical results. Its reports follow standard formats. Managerial accounting provides internal information to management for planning, decision making, and control. It focuses on present and future forecasts. Managerial accounting reports are informal and provided as needed by management, with the goal of helping managers operate and improve the business.
Limitations of financial statements analysisSteveS36
Financial statements have several limitations for analysis:
1) They are based on historical data and do not reflect current asset values or predict future performance.
2) Interim reports may provide an incorrect view by only looking at one time period.
3) Figures can be distorted if management skews results to meet targets or comparisons across companies are not consistent due to different accounting practices.
4) Personal judgment in valuing assets and non-consideration of inflation can impact the accuracy and usefulness of financial analysis.
Foreign Exchange Quotation – Direct & IndirectSundar B N
This document discusses foreign exchange quotations and methods of quoting exchange rates. It explains that exchange rates quote a fixed unit of foreign currency against a variable amount of the domestic currency. There are two main types of quotes - direct quotes which give the price of foreign currency in terms of the domestic currency, and indirect quotes which give the price of the domestic currency in terms of foreign currency. Some key points covered include that exchange rates can be quoted for spot transactions settling in 2 days or for future dates, and cross rates quote the price of one non-domestic currency in terms of another non-domestic currency.
ANALYSIS OF FINANCIAL STATEMENTS ch# 03KaleemSarwar2
This document discusses various tools and techniques for analyzing financial statements, including ratio analysis. It explains that ratio analysis involves expressing logical relationships between financial statement items through calculations like percentages. Some common ratios mentioned include current ratio, quick ratio, inventory turnover, debt ratio, and times interest earned. The document also categorizes ratios and discusses what types of questions different ratios can help answer regarding a company's liquidity, asset management, debt, profitability, and market value.
Meaning
Purpose or utility of common size statement
Common Size Balance sheet
Purpose of common size balance sheet
Format of common size balance sheet
Illustration
Exercise
Common Size Statement of profit & loss
Purpose of common size statement of profit & loss
Format of common size statement of profit & loss
Illustration
Exercise
This document is a presentation on working capital management by students from World University of Bangladesh. It includes the names and IDs of the group members, as well as objectives to analyze working capital management practices of a textile company through ratios and determine problems and suggestions. It discusses concepts of working capital, components of current assets and liabilities, classifications, determinants, control techniques, and importance of adequate but not excessive working capital management.
This document provides an analysis of various financial ratios for a company over two years. It begins with an introduction to ratio analysis and its importance. It then calculates and interprets various ratios including current ratio, debt to equity ratio, net profit margin, gross profit margin, inventory turnover, debtors turnover, creditors turnover and return on capital employed. The analysis found that the current ratio and return on capital employed increased slightly but debt to equity ratio also increased, indicating less financial stability. Profit margins were low. Inventory turnover and creditors turnover decreased. The conclusion recommends the company improve utilization of assets, pricing strategies and timely payment of creditors.
Control accounts help locate errors and provide a summary of total debtor and creditor balances. They are prepared separately from the sales and purchases ledgers. Control accounts take the form of accounts, with debit totals from the ledger on the left and credit totals on the right. The sales ledger control account equals total debtors, and the purchases ledger control account equals total creditors. Minority balances can occur temporarily in the control accounts due to returns or claims after settlement. The self-balancing system treats control accounts as part of double entry, while the sectional balancing system treats debtors/creditors accounts as double entry and control accounts as memorandum.
This document provides an overview of balance of payments (BOP) accounting. It defines BOP as a systematic record of all economic transactions between a country and the rest of the world. It notes that BOP has three main components: the current account balance, capital account balance, and the overall BOP. The current account tracks goods/services exports and imports, while the capital account tracks financial flows. The document also discusses factors that can cause BOP disequilibriums and monetary/non-monetary policy tools to correct imbalances, such as devaluation, export promotion, and tariffs.
The document discusses the fundamentals of a funds flow statement, including its meaning, objectives, importance, limitations, and preparation. A funds flow statement indicates changes in financial position between two balance sheet dates, showing sources and uses of funds. It aims to analyze changes in working capital and determine causes. While useful for management, shareholders, and financiers, it also has limitations like being historic and ignoring non-fund transactions. Preparing one requires the current and prior year's balance sheets and income statement.
Presentation - Global financial crisis 2008Mohit Rajput
The document provides an overview of the global financial crisis of 2008. It describes how the crisis originated from the subprime mortgage crisis in the United States, where risky lending practices led to many homeowner defaults which subsequently impacted financial institutions globally. As asset prices fell and credit markets froze, there were banking failures across Europe and a global recession ensued, with rising unemployment and declines in GDP and stock prices around the world. India was also impacted via slowing economic growth, though its financial system had less direct exposure than Western nations.
This document provides an overview of key accounting concepts and principles including:
- Accounting measures and communicates financial information as the language of business. It has internal and external users.
- There are three main fields: management, financial, and public sector accounting. Standards are set by groups like FASB, SEC, and AICPA.
- Business organizations can be proprietorships, partnerships, or corporations, each with advantages and disadvantages.
- Key concepts include the accounting equation, GAAP, revenues/expenses, and preparing financial statements like the income statement, balance sheet, and statement of cash flows to evaluate business performance.
Walmart is the world's largest company by revenue and the biggest private employer. Founded in 1962 by Sam Walton, it now operates over 11,000 stores worldwide under 55 banners. Its main divisions are Walmart Stores US, Sam's Club, and Walmart International. While known for its low prices due to large scale and supply chain management, Walmart also faces criticisms around labor issues and impact on local communities. It seeks further growth through expansion in emerging markets and increasing online sales.
Wal-Mart has four key elements to its corporate strategy:
1) Dominate retail markets wherever it operates
2) Expand in the US and internationally through new store openings
3) Create strong brand recognition and customer satisfaction
4) Diversify into new retail sectors like pharmacies and automotive services
Wal-Mart's public affairs strategy aims to help implement these strategic goals through gaining political support for expansion plans and addressing criticisms of the company.
Walmart has achieved significant success and growth since Sam Walton opened the first store in 1962. It has expanded to over 7,800 stores globally and 2 million employees, becoming the largest retailer in the world. Walmart thrives during economic downturns as consumers flock to its low prices. Key factors in its success include strategic targeting of rural communities with lower costs, strong management practices, cost control, distribution network, and embracing employee ideas.
This document provides background information on Wal-Mart and analyzes their corporate strategy. It discusses how Wal-Mart has become the largest retailer in the US and number one on the Fortune 500 by focusing on low prices, supply chain management, and expanding into new markets both domestic and international. The summary also notes that while Wal-Mart's strategy has been successful, they have faced some criticism that their expansion hurts local businesses and employment practices.
Wal-Mart has achieved tremendous success through a strategic focus on dominating retail markets wherever it operates, expanding aggressively in the US and internationally, and creating widespread brand recognition associated with low prices and quality. It implements these strategies by maintaining low costs, opening numerous store formats like supercenters and Sam's Club warehouses, and branching into new retail sectors. While largely successful, Wal-Mart faces some criticism that it has negatively impacted local businesses and pays low wages.
1 P a g e MANAGEMENT 120A CASE 1 INTERMEDIATE FINAN.docxmercysuttle
1 | P a g e
MANAGEMENT 120A CASE 1
INTERMEDIATE FINANCIAL ACCOUNTING
WALMART VERSUS TARGET: on target?
This case is a performance comparison between two competing companies: Walmart
Corporation and Target Corporation.
Wal-Mart Stores, Inc. ("Walmart," the "Company" or "we") operates retail stores in various
formats under 69 banners around the world and is committed to saving people money so they can
live better. We earn the trust of our customers every day by providing a broad assortment of
quality merchandise and services at everyday low prices ("EDLP") while fostering a culture that
rewards and embraces mutual respect, integrity and diversity. EDLP is our pricing philosophy
under which we price items at a low price every day so our customers trust that our prices will
not change under frequent promotional activity. Our fiscal year ends on January 31 for our
United States ("U.S.") and Canadian operations. We consolidate all other operations generally
using a one-month lag and on a calendar basis. Our discussion includes the accounts of Walmart
and its subsidiaries as of and for the fiscal years ended
January 31, 2013 ("fiscal 2013"), January 31, 2012 ("fiscal
2012") and January 31, 2011 ("fiscal 2011"). During fiscal
2013, we generated total revenues of $469.2 billion, which
included net sales of $466.1 billion.
Our operations comprise three reportable business segments: Walmart U.S., Walmart
International and Sam's Club.
Currently, Walmart U.S. is the largest segment of our business, accounting for approximately
59% of our fiscal 2013 net sales, and operates retail stores in various formats in all 50 states in
the U.S. and Puerto Rico, as well as its online retail operations, walmart.com.
Walmart International consists of retail operations in 26 countries and generated approximately
29% of our fiscal 2013 net sales. The Walmart International segment includes numerous formats
of retail stores, restaurants, wholesale clubs, including Sam's Clubs, and various retail websites
that operate outside the U.S.
Sam's Club consists of membership warehouse clubs operated in 47 states in the U.S. and Puerto
Rico, as well as the segment's online retail operations, samsclub.com. The Sam's Club segment
accounted for approximately 12% of our fiscal 2013 net sales.
We maintain our principal offices at 702 S.W. 8th Street, Bentonville, Arkansas 72716, USA.
The Development of Our Company
Although Walmart was incorporated in Delaware in October 1969, the businesses conducted by
our founders began in 1945 when Sam M. Walton opened a franchise Ben Franklin variety store
in Newport, Arkansas. In 1946, his brother, James L. Walton, opened a similar store in
Versailles, Missouri. Until 1962, our founders' business was devoted entirely to the operation of
variety stores. In that year, the first Wal-Mart Discount City, which was a discount store, opened
in Rogers, Arkansas. In 1984, we ope ...
Group 6 analyzed Walmart as a potential investment. Walmart has grown tremendously since starting in 1962, becoming the largest retailer and private employer worldwide. It maintains its success through an everyday low price model and expanding into new markets through subsidiaries. Financially, Walmart is very profitable with increasing revenues, profits, and dividends in recent years. While it faces some criticism, Walmart overall presents a promising long-term investment opportunity for sustained growth.
Walmart by VIPLAV SINGH , ITS GHAZIABADviplove singh
Walmart was founded in 1962 in Rogers, Arkansas by Sam Walton. It has grown to be the largest retailer in the world, with over 7,390 stores in the US and over 3,171 stores internationally. Walmart pioneered supply chain management and uses technology throughout its operations to drive costs down and ensure low prices. It has also expanded internationally, including a joint venture in India with Bharti Enterprises to open cash-and-carry wholesale stores.
The main purpose of the research is to draw out clearly the connection between Wal-Mart global operation and its political involvement as the main agenda. This evaluation of Wal-Mart stores as the transactional corporation chosen for the research, this shall emphasize further on the strategic formulation that Wal-Mart encompasses in it operations and other factors like outsourcing, supplier’s network, and vertical integration and globalization expansion roles by this corporation.
Walmart began in 1962 in Rogers, Arkansas and has since grown to be a massive global retailer. It operates over 7,300 stores worldwide, employing over 2 million associates. Walmart aims to save people money so they can live better. Over the years it has expanded from discount retail stores to include supercenters and international operations in countries like Mexico, Canada, and the UK. Walmart continues to grow, with record sales and increasing numbers of stores and customers globally.
This document provides background information on Wal-Mart and analyzes its corporate strategy. It discusses how Wal-Mart has become the largest retailer in the US and number one on the Fortune 500 by focusing on low prices, supply chain management, and expanding into new markets both domestic and international. The document also examines Wal-Mart's public affairs strategy and how it works to support the company's policy goals and continued growth.
Walmart is the largest retailer in the world with over 4,150 retail facilities globally. A financial analysis of Walmart from 2004-2013 shows that the company has strong and increasing financial performance with rising profits, revenues, and margins. While Walmart has some short-term liquidity issues due to large inventories, overall the company maintains a stable financial position with a balanced use of debt and equity financing. An analysis of Walmart's competitors, capital structure, and costs of debt and equity suggests that the company is well-positioned for continued financial success and is a recommended investment.
Wal-Mart is a large global retail company founded in 1962 that operates discount department and warehouse stores. It is headquartered in Bentonville, Arkansas and employs over 2 million people worldwide. Wal-Mart supercenters provide a wide range of goods and services under one roof for customer convenience, and many locations operate 24 hours a day. The company's management philosophy is to empower employees and provide training to support global success.
Wal-Mart is a large global retail company founded in 1962 that operates discount department and warehouse stores. It is headquartered in Bentonville, Arkansas and employs over 2 million people worldwide. Wal-Mart supercenters provide a wide range of goods and services under one roof for customer convenience, and many locations operate 24 hours a day. The company's management philosophy is to empower employees and provide training to support global success.
1Company Overview Walmart Inc is an American multinatMargaritoWhitt221
1
Company Overview
Walmart Inc is an American multinational retail company. It has its headquarters
in Bentonville, Arkansas. The company has 11,510 stores and clubs in 27 countries.
According to the fortune 500 lists, Walmart is the largest company in terms of revenue
and the largest private employer globally. Walmart's objective is to provide safe,
affordable food and other products to people worldwide (Ellickson, 2016). It aims at
achieving the objective in a way that fosters environmental and social sustainability,
economic opportunity, and creating value for the community.
Walmart Inc provides retail services as its primary product. The company also
offers private-label brands, on-demand digital streaming services as well as house
brands. Some of the products that are sold in its retail business include foodstuffs,
mobile phones, electronics, beauty products, household items, among others.
Although the company's international sales dropped in 2020, they accounted for
almost 25% of its revenue. The company had net sales of $120.1 billion
internationally in 2020. That represents the sales that were made in its operations
outside the US. That was a slight drop from 2019 that can be attributed to the world's
economic condition in 2020 (Walmart Inc, 2020).
The company has some strengths. One of its main strengths is its immense size,
which leads to economies of scale. The company can also access a lot of funds, thus
growing at a faster rate. The company also has an efficient supply chain enhanced by
technological advancement. That ensures that Walmart evades the market risks such
as disruption of the supply chain, thus giving the company a competitive advantage.
2
The company also has some weaknesses. The company uses a cost leadership
strategy, which is easy to imitate. Additionally, the company earns very thin profits
from the products that it sells. The company also lacks other specific competitive
differentiators apart from its organizational size and low prices. Thus, it cannot
compete with retailers that promote the quality of their goods and services.
The company has various opportunities for growth and improvement. It has the
opportunity of expanding to developing countries. That is because the cheaper goods
have a higher demand in developing countries. The company also can improve its
human resource practices by employing highly qualified employees and training the
existing employees.
Lastly, the company faces some threats. People are turning into healthy
lifestyles, and most of Walmart's foods are categorized as unhealthy. The company
also faces a threat of competition from both big and small retailers.
Competitive Analysis
One of the main competitors of Walmart in the global market is Carrefour. In this
section, the comparison of the two companies will be analyzed. Both companies are
retailers. Therefore, they sell a variety of goods in their retail ...
Walmart was founded in 1962 and has since grown to be the world's largest retailer. It operates over 10,000 stores across 27 countries. While maintaining low prices through efficient supply chain management, Walmart faces challenges from increasing global competition and adapting to technological changes in retail. Strategies like cost leadership and an international focus on different local markets have helped Walmart succeed, but keeping up with the digital age presents new strategic difficulties to overcome.
The document provides an overview of the retail industry. It discusses the evolution and history of retail, the major retail store formats, demand and supply drivers, key metrics like same store sales and inventory turnover, the top 10 retailers globally which are mostly American companies, and the retail industry and major players in India. It also covers retail pricing strategies, how products are transferred to consumers, challenges facing the Indian retail industry, and the foreign direct investment policy regarding retail in India which currently only allows 100% FDI in wholesale cash and carry and 51% in single brand retail.
Wal-Mart was founded in 1962 in Arkansas and has grown to be the world's largest retailer. It maintains low prices through efficient operations and a strong supply chain. Wal-Mart's mission is to save customers money so they can live better. It aims to continuously expand into new markets globally and address social and environmental issues important to customers.
Similar to Project on Annual Report of Walmart Inc. (20)
Cost and Management Accounting _____Topic Activity-based costingRebekahSamuel2
This document provides an overview of activity-based costing (ABC). It explains that ABC assigns overhead costs using multiple cost drivers rather than a single measure. The document outlines the basic ABC process of assigning costs to activity pools, identifying cost drivers, computing overhead rates, and assigning costs to products. It notes advantages of ABC include more accurate product costs and better decision making, while disadvantages include greater complexity. The document also provides a brief introduction to just-in-time processing.
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This document provides an overview of two projects - the International Hyper Loop Project and the National Engro Coal Power Project. For the Hyper Loop Project, it discusses the objectives, need and importance of reducing travel times, and provides details on key milestones, routes being considered worldwide, and companies involved in developing the technology. It also includes the project charter outlining goals and deliverables. For the Engro Coal Power Project, it briefly introduces the objectives and need for the project in Thar and notes the scope will involve working phases, constructions and a public private partnership, but provides few other details.
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This document provides information about two projects - an international hyper loop project and a national Engro coal power project in Pakistan. For the hyper loop project, it discusses the background and objectives of hyper loop technology, how it works by reducing friction through near-vacuum tubes and magnetic levitation, and some of the companies developing it including Hyperloop One and Hyperloop Transportation Technologies. It also outlines some proposed routes under consideration. For the Engro coal power project, it introduces the project and outlines its objectives and importance for providing power in Thar.
Hyper Loop And Engro Coal Power ( National And International Projects Final R...RebekahSamuel2
This document provides information about two projects - an international hyper loop project and a national Engro coal power project in Pakistan. For the hyper loop project, it discusses the background and objectives of hyper loop technology, how it works by reducing friction through near-vacuum tubes and magnetic levitation, and some of the companies developing it including Hyperloop One and Hyperloop Transportation Technologies. It also outlines some proposed routes under consideration. For the Engro coal power project, it introduces the project and outlines its objectives and importance for providing power in Thar.
TAIPEI-101 is a 101-story landmark skyscraper in Taipei, Taiwan. Construction began in 1999 and finished in 2004, making it the world's tallest building at that time. Some key features include its height of 509.2 meters, its status as the tallest and largest green building in the world, and its ability to withstand typhoons and earthquakes through its design. It has served as an iconic symbol of modern Taiwan since its opening.
The document discusses Engro Powergen Thar's power project in Pakistan which utilizes indigenous lignite coal from Tharparkar district. The key objectives are to generate electricity from domestic coal reserves to reduce reliance on imports and address Pakistan's energy shortage. It provides background on Thar's large coal reserves. It outlines the project scope which includes a coal mine, power plant and transmission lines. It identifies stakeholders and discusses risks around construction delays, imported coal prices, security issues and payment defaults.
This document provides an overview of hyperloop technology and projects. It describes hyperloop as a proposed mode of transportation involving pods that travel inside low-pressure tubes at aircraft-like speeds. Two main companies, Hyperloop One and Hyperloop Transportation Technologies, are working to develop the technology and have proposed routes throughout the world. Key aspects of hyperloop systems discussed include how they work by reducing friction through evacuation of tubes and magnetic levitation, engineering milestones in development, and the goals of ensuring safety, minimizing costs and environmental impacts compared to traditional transportation methods.
This document provides an overview and background of hyperloop technology. Hyperloop involves levitating pods inside low-pressure tubes that could enable aircraft speeds at ground level. It is described as a potential revolution in transport that could transform perceptions of distance. The document discusses the concept as outlined by Elon Musk, and evaluates the commercial potential, environmental impact, costs, safety issues, and regulatory hurdles of hyperloop. It provides details on the companies developing hyperloop systems, including Virgin Hyperloop One and Hyperloop Transportation Technologies, and potential routes being considered.
Hyper loop offers a potential revolution in transport by enabling aircraft speeds at ground level in a point-to-point transport system. It refers to Elon Musk's concept of passenger or freight vehicles operating inside low-pressure tubes, which could enable very high speeds of up to 760 mph. Several companies are working to develop and build hyper loop systems, with the goals of creating a safer, faster, cheaper, and more sustainable alternative to high-speed rail and other modes of transport over medium distances. The first hyper loop routes may begin operations in the early 2020s.
Hyperloop offers a potential new mode of high-speed transport that could revolutionize how we perceive distance. It involves levitation pods traveling inside low-pressure tubes at aircraft speeds. Proponents claim it could be faster, cheaper, and more environmentally friendly than other transport modes. This report evaluates Hyperloop's commercial potential, costs, safety, and regulatory issues to assess its feasibility. It consulted with developers and experts to investigate technical requirements and challenges, and how the UK supply chain could support Hyperloop development.
The document discusses the concept of hyperloop high-speed transportation. Hyperloop involves passenger or freight vehicles operating inside low-pressure tubes, which could enable aircraft-level speeds on the ground. Proponents claim hyperloop could be faster than high-speed rail, direct like air travel, environmentally friendly, and cheaper than high-speed rail. The document provides background on the history of concepts like hyperloop dating back to the late 17th century, and discusses Elon Musk's more recent proposal. It outlines objectives like safety, speed, cost, and sustainability, and explains the need for alternatives to conventional transportation methods.
Elasticity of demand refers to the responsiveness of quantity demanded to changes in price or other factors like income. This document was submitted by Sami Ul Haq, Haider Murtaza, Waseem Qurashi, Qismat Shah and Muhammad junaid to their professor Madam Maryam Ashraf on the topic of elasticity of demand. The authors thank the professor for reviewing their submission.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
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How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
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In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
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2. TABLE OF CONTENTS
1.1 OPERATING DIVISION
1.1 A…… WALMART U.S
1.1 B……WALMART INTERNATIONAL
1.1 C…… SAM’S CLUB
1.1 D…… GLOBAL ECOMMERCE
1.2 ANNUAL REPORT
1.3 SEGMENTS
1.3 A……WALLMART U.S SEGMENT
1.3 B……WALLMART INTERNATIONAL SEGMENT
1.3 C……WALLMART SAM’S CLUB SEGMENT
1.4 SECTION IN ANNUALREPORTOF WALLMART
1.5 HOLDING COMPNAYAND SUBSIDIARYCOMPANY
1.6 FINANCIAL STATEMENTS
1.7 COMPANYFINANCIALSTATEMENTS
1.8 SUMMARYOF ACCOUNTING POLICIES
3. INTRODUCTION
Wal-Mart Stores, Inc is an American multinational retailing corporation that operates as a chain of hypermarkets,
discount department stores and grocery stores.Headquartered in Bentonville, Arkansas, the company was founded
by Sam Walton in 1962 . As of December 31, 2016, Walmart has 11,666 stores and clubs in 28 countries,The
company operates under the name Walmart in the United States and Canada. It operates as Walmart de México y
Centroamérica in Mexico and Central America, as Asda in the United Kingdom, as the Seiyu Group in Japan, and
as Best Price in India.
Walmart is the world's largest company by revenue, according to the Fortune Global 500 list in 2016, as well as the
largest private employer in the world with 2.2 million employees. It is also one of the world's most valuable
companies by market value,[13] and is also the largest grocery retailer in the U.S. its operations in the United
Kingdom, South America, and China are highly successful,whereas ventures in Germany and South Korea failed.
1.1 OPERATING DIVISIONS
Walmart's operations are organized into four divisions: Walmart U.S., Walmart International, Sam's Club and
Global ecommerce. The company offers various retail formats throughout these divisions,including supercenters,
supermarkets, hypermarkets, warehouse clubs, cash-and-carry stores,home improvement, specialty electronics,
restaurants,apparel stores,drugstores,convenience stores and digital retail.
1.1 A.Walmart U.S.
It is the company's largest division It consists ofthree retail formats that have become common place in the United
States: Supercenters,Discount Stores, Neighborhood Markets and other small formats. The discount stores sella
variety of mostly non-grocery products,though emphasis has now shifted towards supercenters,which include more
groceries. The president and CEO of Walmart U.S. is Greg Foran
Walmart Supercenters
It is simply branded as "Walmart" are hypermarkets. These stock general merchandise and a full-service
supermarket, including meat and poultry, baked goods,delicatessen,frozen foods,dairy products,garden produce,
and fresh seafood.Many Walmart Supercenters also have a garden center, pet shop,pharmacy, Tire & Lube
Express, optical center, one-hourphoto processing lab, portrait studio,and numerous alcove shops,such as cellular
phone stores,hair and nail salons,video rental stores,local bank branches , and fast food outlets,those usually being
Subway but sometimes Dunkin' Donuts,McDonald's, Wendy's,Checker's, Auntie Annes,Burger King, Tim
Horton's or Blimpie.
Walmart Discount Store
Walmart Discount Stores, also branded as simply "Walmart", are discount department stores They carry general
merchandise and limited groceries. . Many of these stores also feature a garden center, pharmacy, tire & Lube
Express, optical center, one-hourphoto processing lab, portrait studio,a bank branch, a cell phone store and a fast
food outlet, usually Subway or McDonald's or Burger King.
4. The exterior of the Walmart Discount Store in Charlotte, North Carolina
Walmart Neighborhood Market
Walmart Neighborhood Market is a chain of grocery stores They are used to fill the gap between supercenters,
infilling areas where anothersupermarket chain had closed all stores due to competition from Walmart Supercenters.
These Markets offer a variety of products including full lines of groceries, pharmaceuticals, health and beauty aids,
photo developing services, and a limited selection of general merchandise.
1.1 B.Walmart International
As of December 31, 2016, Walmart's international operations comprised 6,345 stores and 800,000 workers in
26 countries outside the United States. There are wholly owned operations in Argentina, Brazil, Canada, and the
UK. With 2.2 million employees worldwide, the company is the largest private employer in the U.S. and
Mexico, and one of the largest in Canada.
Walmart Argentina was founded in 1995 and, as of November 30, 2016, operates 107 s tores
As of December 31, 2016, Walmart Brasil operates 498 stores
As of November 30, 2016, Walmart Chile operates 361 stores
Walmart's Mexico division, the largest outside the U.S., as of December 31, 2016, consists of2,402
stores
As of December 31, 2016 there are a total of 1,451 stores in Canada and Europe
As of December 31, 2016, it has 373 stores in South Africa
As of December 31, 2016, there are currently a total of 797 stores in three Asian countries: China,
Japan, and India.
5. 1.1 C.Sam's Club
The Sam's Club store in Maplewood, Missouri
Sam's Club is a chain of warehouse clubs that sell groceries and general merchandise .Sam's Clubs are
membership warehouse clubs where most customers buy annual memberships. There are three kinds of
memberships of Sam's Club: Sam's Plus, Sam's Business and Sam's Savings.Each of these memberships provides
customers various benefits and convenience. However, non-members can make purchases eitherby buying a one-
day membership
1.1 D. Global eCommerce
Based in San Francisco, California, Walmart's Global eCommerce division provides online retailing for Walmart,
Sam's Club, ASDA and all other international brands.There are several locations in the United States located in
California and Oregon. They are San Bruno, Sunnyvale, Brisbane, and Portland. Locations outside of the United
States include Shanghai (China), Leeds (United Kingdom) and Bangalore (India).
Doug McMillon
President and Chief Executive Officer
Wal-Mart Stores, Inc.
1.2 ANNUAL REPORT
An annual publication that public corporations must provide to shareholders to describe their operations and
financial conditions.The front part of the report often contains an impressive combination of graphics, photos and
an accompanying narrative, all of which chronicle the company's activities over the past year. The back part of the
report contains detailed financial and operational information. An annual report is a financial summary of a
company’s activities during the year along with management’s analysis of the company’s current financial position
and future plans. Annualreports are prepared at the end of the fiscal year for external users to gain financial
information about the inner workings of the company and what management plans to do in the future.
6. A typical annualreport includes several different sections that help investors and creditors understand the company
more than they would by simply looking at a set of general-purpose financial statements.A standard report includes
the following sections:
Letter to Shareholders
Financial History and Highlights
Management Discussion and Analysis
Management’s Report on Financial Statements and on Internal Controls
Report of Independent Accountantssometimes called the Auditor’s Report including a section on internal
controls
Financial Statements including a:
1. Balance Sheet
2. Income Statement
3. Statement of Stockholders’ Equity
4. Cash Flows Statement
Notes to Financial Statements
List of Directors and Officers
As you can see, the full report gives external users a much more holistic view of a company’s financial position,
market standings,and ability to improve than a simple set of comparative financial statements.
Although the report is directed at external users,it’s often used as an advertising and marketing tool to show the
public that the company is doing well. Management can showcase new products and innovations as well as discuss
new markets that they expect to enter in future periods. Report is typically issued with graphics, photos,
illustrations, graphs,and diagrams. It’s for more attractive than a simple set of financial statements. Report is where
management can brag about its accomplishments and entice new investors to join the company. Even though there
are marketing-type elements in the report, the actual purpose of it is to convey financial information to the outside
users.
1.3 SEGMENTS
This report consist ofthree reportable segments:Walmart U.S., Walmart International and Sam’s Club.
• Walmart U.S. is our largest segment with three primary store formats, as well as digital retail. Of our three
reportable segments, Walmart U.S. has historically had the highest gross profit as a percentage of net sales (“gross
profit rate”). In addition, it has historically contributed the greatest amount to the Company’s net sales and operating
income.
• Walmart International consists of our operations outside of the U.S. and includes retail, wholesale and other
businesses.These businesses consist ofnumerous formats, including supercenters,supermarkets, hypermarkets,
warehouse clubs, including Sam’s Clubs, cash & carry, home improvement, specialty electronics, apparel stores,
drug stores and convenience stores,as well as digital retail. The overall gross profit rate for Walmart International is
lower than that of Walmart U.S. because of its merchandise mix. Walmart International is our second largest
segment and has grown through acquisitions,as well as by adding retail, wholesale and other units,and expanding
digital retail.
• Sam’s Club consists ofmembership-only warehouse clubs as well as digital retail. As a membership-only
warehouse club, membership income is a significant component of the segment’s operating income. Sam’s Club
operates with a lower gross profit rate and lower operating expenses as a percentage of net sales than our other
segments.
1.3 A.Walmart U.S. Segment
Net sales for the Walmart U.S. segment increased 3.6% and 3.1% for fiscal 2016 and 2015, respectively, when
compared to the previous fiscal year. The increases in net sales were primarily due to year-over-year growth in retail
7. square feet of 1.4% and 3.2% for fiscal 2016 and 2015, respectively, as well as increases in comparable store sales
of 1.0% and 0.6% for fiscal 2016 and 2015, respectively. Positive customer traffic and higher
e-commerce sales contributed to the increases in comparable store sales in both periods.
Operating expenses as a percentage of segment net sales increased 113 and 24 basis points for fiscal 2016 and 2015,
respectively, when compared to the previous fiscal year. For fiscal 2016, the increase was primarily driven by an
increase in wage expense due to the new associate wage structure and increased associate hours.Enhancements to
the customer-facing areas of the store to improve the overall customer experience drove the increase in associate
hours as well as increased maintenance expenses.In addition, the approximately $700 million charge for the
closures of 150 stores announced in January 2016, an increase in store associate incentive expense and our
continued investments in digital retail and information technology contributed to the fiscal 2016 increase in
operating expenses as a percentage of segment net sales.For fiscal 2015, the increase in operating expenses as a
percentage of segment net sales was primarily driven by higher health-care expenses from increased enrollment in
our associate health-care plans and medical cost inflation. In addition, expenses from severe winter storms early in
fiscal 2015 contributed to the increase in operating expenses as a percentage of segment net sales. As a result of the
factors discussed above,segment operating income was $19.1 billion, $21.3 billion and $21.8 billion during fiscal
2016, 2015 and 2014, respectively.
1.3 B.Walmart International Segment
Net sales for the Walmart International segment decreased 9.4% and 0.3% for fiscal 2016 and 2015, respectively,
when compared to the previous fiscal year. For fiscal 2016, the decrease in net sales was primarily due to the $17.1
billion of negative impact from fluctuations in currency exchange rates and negative comparable sales in the U.K.
and China, partially offset by year-over-year growth in retail square feet of 1.2% and
positive comparable sales in Mexico and Canada. For fiscal 2015, the decrease in net sales was primarily due to $5.3
billion of negative impact from fluctuations in currency exchange rates, partially offset by year-over-year growth in
retail square feet of 2.6% and higher e-commerce sales in each country with e-commerce operations,particularly in
the
United Kingdom, China and Brazil.
Gross profit rate increased 23 and 12 basis points for fiscal 2016 and 2015, respectively, when compared to the same
periods in the previous fiscal year. The fiscal 2016 and 2015 increases in gross profit rate were primarily due to
changes in the merchandise mix in certain markets.
Operating expenses as a percentage of segment net sales increased 44 basis points for fiscal 2016, when compared to
the previous fiscal year. The increase in operating expenses as a percentage of segment net sales for fiscal 2016 was
primarily driven by the approximately $150 million charge for the announced closure of 115 underperforming stores
in Brazil and other Latin American markets in January 2016, increased employment claim contingencies and higher
utility rates in Brazil and continued investments in digital retail and information technology.
Operating expenses as a percentage of segment net sales decreased 51 basis points for fiscal 2015 when compared to
the previous fiscal year due to the nearly $1.0 billion of aggregated expenses incurred in fiscal 2014, including
charges for contingencies in Brazil, store closure costs in China and Brazil, store lease expenses in China and
Mexico and expenses for the termination of the joint venture in India, partially offset by fiscal 2015 expenses of
$148 million related to the closure of approximately 30 underperforming stores in Japan.
As a result of the factors discussed above,segment operating income was $5.3 billion, $6.2 billion and $5.2 billion
for fiscal 2016, 2015 and 2014, respectively. Fluctuations in currency exchange rates negatively impacted operating
income $765 million, $225 million and $26 million in fiscal 2016, 2015 and 2014, respectively.
1.3. C.Sam’s Club Segment
Net sales for the Sam’s Club segment decreased 2.1% for fiscal 2016 and increased 1.5% for fiscal 2015 when
compared to the previous fiscal year. The fiscal 2016 decrease in net sales was primarily due to declines in
comparable club sales,which were driven by a decrease of $1.9 billion in fuel sales that resulted primarily from
lower selling prices for fuel. The decrease in net sales was partially offset by year-over-year growth in retail square
feet of 1.2% and higher e-commerce sales at samsclub.com. The fiscal 2015 increase in net sales was primarily due
to year-over-year growth in retail square feet of 2.5%, driven by the addition of 15 new clubs, partially offset by a
decrease in fuel sales from lower fuel prices.
Comparable club sales were flat for fiscal 2015.
8. Gross profit rate increased 30 basis points for fiscal 2016 and decreased 12 basis points for fiscal 2015, when
compared to the previous fiscal year. For fiscal 2016, the increase was primarily due to the reduction in low margin
fuel sales and lower merchandise acquisition costs,partially offset by the segment’s continued investment in the
Cash Rewards program. For fiscal 2015, the gross profit rate decreased primarily due to the segment’s investment in
the Cash Rewards program, changes in merchandise mix, and commodity cost inflation, partially offset by an
increased gross profit rate on fuel sales
Membership and other income increased 5.3% and 7.7% for fiscal 2016 and 2015, respectively, when compared to
the previous fiscal year. For fiscal 2016, the increase was primarily the result of increased membership upgrades and
Plus Member renewals. For fiscal 2015, the increase was primarily the result of increased membership upgrades,
Plus Member renewals and an increase in members from the opening of 15 new clubs
Operating expenses as a percentage of segment net sales increased 67 basis points for fiscal 2016 and decreased 16
basis points for fiscal 2015, when compared to the previous fiscal year. For fiscal 2016, the increase in operating
expenses as a percentage of segment net sales was primarily due to lower fuel sales,an increase in wage expense
due to the new
Associate wage structure,our continued investments in new clubs, digital retail and information technology,and the
approximately $60 million charge for club closures announced in January 2016. For fiscal 2015, the decrease in
operating expenses as a percentage of segment net sales was primarily due to better expense management in number
of areas, including the optimization of the new in-club staffing structure announced in fiscal 2014, which resulted in
decreases in wage expense and payroll taxes.
As a result of the factors discussed above,segment operating income was $1.8 billion, $2.0 billion and $1.8 billion
for fiscal 2016, 2015 and 2014, respectively
consolidated net sales decreased $3.6 billion or 0.7% for fiscal 2016 and increased $9.2 billion or 1.9% for fiscal
2015, when compared to the previous fiscal year. Net sales for fiscal 2016 were negatively impacted by $17.1 billion
or 3.5% as a result of fluctuations in currency exchange rates and a $1.9 billion decrease in fuel sales primarily due
to the lower selling prices of fuel at our Sam’s Club segment. The negative effect of such factors was offset by 1.3%
year-over-year growth in retail square feet, positive comparable sales in the Walmart U.S. segment and higher e-
commerce sales across the Company. The increase in net sales for fiscal 2015 was primarily due to 3.0% year-over-
year growth in retail square feet, positive comparable sales in the U.S. and higher e-commerce sales across the
Company. The increase was partially offset by $5.3 billion of negative impact from fluctuations in currency
exchange rates for fiscal 2015.
1.4 SECTIONS IN ANNUAL REPORT OF WALLMART
Letter to shareholders
List of board of directors
Five year financial summary
Management’s discussion and analysis of financial condition and results of operations
Consolidated statement of income
Consolidated statement of comprehensive income
Consolidated balance sheets
Consolidated statement of shareholders ‘equity and redeemable non controlling interest
Consolidated statement of cash flows
Notes to consolidated financial statements
Report of independent registered public accounting firm
Report of independent registered public accounting firm on internal control over financial reporting
Management’s report to shareholders
Corporate and stock information
9. 1.5 HOLDING COMPANY AND SUBSIDIARY COMPANY
A company which holds more than 51% of total share capital or it controls the composition of its Board of Directors
(BOD) i.e. it has the right to appoint or remove the directors in any other company is known as the holding
company. The company whose more than 51% share capital are held by anothercompany or whose composition of
BOD is controlled by any other company is known as the subsidiary company.
For Example A Limited owns 53% shares in B Limited. In this situation, A Limited is holding company while B
Limited is a subsidiary company.
1.6 FINANCIAL STATEMENT
Financial statements are reports prepared by a company's management to present the financial performance and
position at a point in time. A general-purpose set of financial statements usually includes a balance sheet,income
statements,statement of owner's equity, and statement of cash flows. These statements are prepared to give users
outside of the company, like investors and creditors, more information about the company's financial positions
They are useful for the following reasons:
To determine the ability of a business to generate cash,and the sources and uses of that cash.
To determine whether a business has the capability to pay back its debts.
To track financial results on a trend line to spot any looming profitability issues.
To derive financial ratios from the statements that can indicate the condition of the business.
To investigate the details of certain business transactions,as outlined in the disclosures that accompany the
statements.
1.7 FINANCIAL STATEMENTS OF WALLMART
The financial statements of wallmart are consolidated including
Consolidated statement of income
Consolidated statement of comprehensive income
Consolidated balance sheets
Consolidated statement of shareholder’ equity and redeemable non controlling interest
Consolidated statement of cash flow
CONSOLIDATED FINANCIAL STATEMENT
A consolidated financial statement covers the activities of the parent company and its subsidiaries in a
single report, as if they were all a single company operating under one roof. Consolidated financial
statements are prepared for a group of businesses that are owned by the same parent company. These
statements provide information about the overall health of the parent company when all majority or wholly-
owned businesses are taken together. A consolidated financial statement includes all the subsidiary
businesses where the owner has a controlling interest and also the subsidiaries that are wholly-owned.
UNCONSOLIDATED FINANCIAL STATEMENTS
These statements are prepared for an individual business and provide a snapshot ofthe performance of the
business fora specific period – monthly, quarterly, yearly, etc. These reports typically include a balance
sheet,income statement,statement of cash flow and a shareholder equity report. Taken together, these
10. statements showhow well the business is doing and offer a general overview of the money that is coming
in and going out of the business.
However, there is one major difference with consolidated financial reports: Preparing a consolidated
financial report is not the same as simply adding togetherthe individual reports because certain transactions
called intracompany transactions must be omitted from consolidated financial statements.
1.8 SYMMARY OF ACCOUNTING POLICIES
Strategic Growth Investments
During fiscal 2016, company made capital investments globally of $11.5 billion. These capital investments primarily
consisted ofpayments to add new stores and clubs, remodel existing stores and clubs, construct distribution centers
and invest in technology.In addition, we made an incremental operational investment of $296 million in e-
commerce in fiscal 2016 as compared to fiscal 2015. We also made operational investments of approximately $1.2
billion in fiscal 2016 in connection with the new associate wage structure and comprehensive associate training and
educational programs announced in first quarter of fiscal 2016. These operational investments will continue into the
year ending January 31,
2017 (“fiscal 2017”).
Net Cash Used in Investing Activities
Net cash used in investing activities was $10.7 billion, $11.1 billion and $12.5 billion for fiscal 2016, 2015 and
2014, respectively, and generally consisted ofpayments to add stores and clubs, remodel existing stores and clubs,
expand our digital retail capabilities and invest in othertechnologies. For fiscal 2016, we opened 423 new stores and
clubs. Net cash used in investing activities decreased $450 million and $1.4 billion for fiscal 2016 and 2015,
respectively, when compared to the previous fiscal year, primarily due to lower capital expenditures.
Net Cash Used in Financing Activities
Net cash flows used in financing activities generally consist of transactions related to our short-term and long-term
debt, financing obligations, dividends paid and the repurchase of Company stock. Transactions with noncontrolling
interest shareholders are also classified as cash flows from financing activities. Net cash used in financing activities
increased $1.1 billion and $4.3 billion for fiscal 2016 and fiscal 2015, respectively, when compared to the same
period in the previous fiscal year.
Dividends
Our total dividend payments were $6.3 billion, $6.2 billion and $6.1 billion for fiscal 2016, 2015 and 2014,
respectively. On February 18, 2016, the Board of Directors approved the fiscal 2017 annual dividend of $2.00 per
share, an increase over the fiscal 2016 annual dividend of $1.96 per share. For fiscal 2017, the annual dividend will
be paid in four quarterly installments of $0.50 per share
Inventories
We value inventories at the lower of cost or market as determined primarily by the retail method of accounting,
using the last-in, first-out (“LIFO”) method for substantially all of the Walmart U.S. segment’s inventories. The
inventory at the Walmart International segment is valued primarily by the retail inventory method of accounting,
using the first-in, first-out (“FIFO”) method. The retail method of accounting results in inventory being valued at the
lower of cost or market since permanent markdowns are immediately recorded as a reduction of the retail value of
inventory. The inventory at the Sam’s Club segment is valued based on the weighted-average cost using the LIFO
method.Under the retail method of accounting,inventory is valued at the lower of cost or market, which is
determined by applying a cost-to-retail ratio to each merchandise grouping’s retail value. The FIFO cost-to-retail
ratio is generally based on the fiscal year purchase activity. The cost-to-retail ratio for measuring any LIFO
provision is based on the initial margin of the fiscal year purchase activity less the impact of any permanent mark
downs. The retail method of accounting requires management to make certain judgments and estimates that may
significantly impact the ending inventory valuation at cost,as well as the amount of gross profit recognized.
11. Judgments made include recording markdowns used to sell inventory and shrinkage. When management determines
the ability to sell inventory has diminished, markdowns for clearance activity and the related cost impact
are recorded. Factors considered in the determination of markdowns include current and anticipated demand,
customer preferences and age of merchandise, as well as seasonaland fashion trends.Changes in weather and
customer preferences could cause material changes in the amount and timing of markdowns from year to year.
When necessary,we record a LIFO provision for the estimated annual effect of inflation, and these estimates are
adjusted to actual results determined at year-end. Our LIFO provision is calculated based on inventory levels,
markup rates and internally generated retail price indices. At January 31, 2016 and 2015, our inventories valued at
LIFO approximated those inventories as if they were valued at FIFO We provide for estimated inventory losses,or
shrinkage, between physical inventory counts on the basis of a historical percentage of sales.
THE INCOME STATEMENT OF THIS REPORT IS MULTISTEP
The Company’s operations comprise three reportable segments: Walmart U.S., Walmart International and Sam’s
Club.The Consolidated Financial Statements include the accounts of Walmart and its subsidiaries as of and for the
fiscal years ended January 31, 2016 (“fiscal 2016”), January 31, 2015 (“fiscal 2015”) and January 31, 2014 (“fiscal
2014”)
The Consolidated Financial Statements have been prepared in conformity with U.S. generally accepted accounting
principles. Those principles require management to make estimates and assumptions that affect the reported amounts
of assets and liabilities.
RECIEVABLES
The Walmart International segment offers a limited number of consumer credit products,primarily through its
financial institutions in select countries. The receivable balance from consumer credit products was $1.0 billion, net
of a reserve for doubtful accounts of$70 million at January 31, 2016, compared to a receivable balance of $1.2
billion, net
of a reserve for doubtful accounts of$114 million at January 31, 2015. These balances are included in receivables,
net, in the Company’s Consolidated Balance Sheets
INVENTORIES
The Company values inventories at the lower of cost or market as Determined primarily by the retail inventory
method of accounting,using the last-in, first-out (“LIFO”) method for substantially all of the Walmart U.S.
segment’s inventories. The inventory at the Walmart
International segment is valued primarily by the retail inventory method of accounting,using the first-in, first-out
(“FIFO”) method. The inventory at the Sam’s Club segment is valued based on the weighted-average cost using the
LIFO method. At January 31, 2016 and January 31, 2015, the Company’s inventories valued at LIFO approximated
those inventories as if they were valued at FIFO
Revenue Recognition
Sales
The Company recognizes sales revenue, net of sales taxes and estimated sales returns, at the time it sells
merchandise to the customer. Digital retail sales include shipping revenue and are recorded upon delivery to the
customer.
Membership Fee Revenue
The Company recognizes membership fee revenue both in the U.S. and internationally over the term of the
membership, which is typically 12 months. Membership fee revenue is included in membership and other income in
the Company’s Consolidated Statements of Income. The deferred membership fee is included in accrued liabilities
in the Company’s
Consolidated Balance Sheets.
12. Shopping Cards
Customer purchases of shopping cards are not recognized as revenue until the card is redeemed and the customer
purchases merchandise using the shopping card.Shopping cards in the U.S. do not carry an expiration date;
therefore, customers and members can redeem their shopping cards for merchandise indefinitely. Shopping cards in
certain
foreign countries where the Company does business may have expiration dates. A certain number of shopping cards,
both with and without expiration dates,will not be fully redeemed. Management estimates unredeemed shopping
cards and recognizes revenue for these amounts over shopping card historical usage periods based on historical
redemption rates. Management periodically reviews and updates its estimates of usage periods and redemption rates.
Financial and Other Services
The Company recognizes revenue from service transactions at the time the service is performed. Generally, revenue
from services is classified as a component of net sales in the Company’s Consolidated Statements of Income.
Cost of Sales
Cost of sales includes actual product cost,the cost of transportation to the Company’s distribution facilities, stores
and clubs from suppliers, the cost of transportation from the Company’s distribution facilities to the stores,clubs and
customers and the cost of warehousing for the Sam’s Club segment and import distribution centers.
Advertising Costs
Advertising costs are expensed as incurred, consist primarily of print, television and digital advertisements and are
recorded in operating, selling, general and administrative expenses in the Company’s Consolidated Statements of
Income. Advertising costs were $2.5 billion
for fiscal 2016 and $2.4 billion for both fiscal 2015 and fiscal 2014
Amounts reclassified from accumulated other comprehensive income (loss) for derivative instruments are recorded
in interest, net, in the Company’s Consolidated Statements of Income, and the amounts for the minimum pension
liability are recorded In operating, selling, general and administrative expenses in the Company’s Consolidated
Statements of Income.
Short-term borrowings consist of commercial paper and lines of credit. Short-term borrowings outstanding at
January 31, 2016 and 2015 were $2.7 billion and $1.6 billion, respectively
13. CONCLUSION:
This report is very helpful in learning many things,
It is helful to gives the report to shareholders about the company’s progress, their profit ,
loss and futrure decisions which it have to take
It is a useful presentaion for company dettails