The paper "Wal-Mart Annual Financial Reporting " is a great example of a finance and accounting assignment. Wal-Mart is a well known multinational retail corporation in America. It is considered as the company earning a large amount of revenue. Wal-Mart is the largest business that is family-owned and is operated by the Walton family. The founder of Wal-Mart is Sam Walton. The vision and mission of Wal-Mart are creating value by providing various goods at low cost so that it is affordable for the customers. The company is listed on the New York stock exchange.
Wal-Mart maintains strong corporate governance and the financial performance of Wal-Mart are mainly guided by the priorities which include leverage, return and growth. Walmart mainly focuses on providing various opportunities to serve its customers in an effective and better way. Wal-Mart earns revenue of around US$ 485.651 billion. Wal-Mart is engaged in serving more than 140 million customers each week. Wal-Mart is very famous and renowned because of its wide assortment and it mainly focuses on providing the merchandise at low cost. Wal-Mart is engaged in improving and advancing its logistics and store operations, improving productivity and reducing cost.
Wal-Mart mainly deals with footwear and apparel which includes a speciality in cash and carry, discount store, super centre, supermarket, hypermarket, e-commerce, superstore. Question aLegal influence on the financial reporting of Wal-MartWal-Mart is engaged and involved in the legal proceedings and Wal-Mart has also arranged accruals in accordance with the matter or the issues which is mainly reflected in the consolidated financial statement (Abbas, 2012). The liabilities involved in the operation are disclosed in the financial statement and Wal-Mart is engaged in settling the agreements and the settlement is done on the basis of the best interest of the shareholders of the company.
Wal-Mart is of the opinion that it has various substantial factual as well as legal defences against the issue of claims. The purchase obligation of Wal-Mart generally includes the legally binding and the contracts of the firm in the form of commitment for the purchase of inventory and the capital expenditure involved in the acquisition of software and licensing of commitments towards legally binding the service contracts (Ball, 2006).
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Walmart, 2014. Annual report. Available at: http://cdn.corporate.walmart.com/66/e5/9ff9a87445949173fde56316ac5f/2014-annual-report.pdf. [Accessed on 17 March 2015].