sam boyer acc 290 week 6.2

sam boyer acc 290 week 6.2 - Running head FINANCIAL...

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Running head: FINANCIAL REPORTING PROBLEM 1 1 Financial Reporting Problem 1 Samatha Boyer Acc/290 11/09/2014 Karen Evans
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FINANCIAL REPORTING PROBLEM 1 2 Financial Reporting Problem 1 In this paper, I am going to discuss Walmart’s balance sheet and income statement. I will continue to discuss the most recent reported total assets at the end of the most recent reporting year. Also, I will be discussing the importance of annual reporting and why using balance sheets and income statements are important. As of January 31, 2013 the total asset balance was $203,105,000. The total assets of a company is important to know because it allows the company to see where they currently stand. For example, a company can see if they are doing well or if there needs to be immediate improvement. A company will have a better understanding of what the worth of the company currently may be. Previously at the end of the year in 2012, the company had shown total assets of 193,406,000. Comparing both of the year’s total assets, Walmart had a difference of 9,699,000. (One Mission) According to the fiscal years ended January 31, 2013, the total cash or cash equivalent was determined to be 7,781,000. (VMT) It is important for a company to know what their total
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