Executive Summary: Wal Mart, Inc Essay

3129 words - 13 pages

I. Introduction
II. History
III. Chain of Command
IV. Audit Procedures
V. Stock Exchange Information
VI. Assets
VII. Accounts Payable
VIII. Liabilities
IX. Net Revenues
X. Net Income
XI. Conclusion
XII. References
XIII. Finance Statements
A. Illustration (1) - Balance Sheet
B. Illustration (2) - Income Statement
C. Illustration (3) - Cash Flow Statement

Executive Summary: Wal-Mart, Inc.
Team “B” has chosen to write our Executive Summary on the Wal-Mart, Inc. because they

is an irresistible retail force that has yet to meet any immovable objects. Wal-Mart Stores, Inc.

is not only the largest retailer in the world; it now also ...view middle of the document...

You can see Wal-Mart’s focus shift into a bigger is better mentality as they increase their client base with their first Warehouse Club, Sam’s Club, in 1983. Based in Bentonville, Arkansas, Wal-Mart is best known as a discount retailer. The company's distinctive blend of low prices and large stores with very wide selections has moved it into a dominant position among retailers (Wal-Mart: About Us, 2010). The next topic to discuss will be Wal-Mart’s chain of command structure.
Chain of Command
Mr. S. Robson Walton currently serves as the Chairman of the Board of Directors of Wal-Mart Stores, Inc. and has been a member of the Board since 1978. He joined the company in 1969 and, prior to becoming Chairman in 1992, held a variety of positions with the company, including Senior Vice President, Corporate Secretary, General Counsel and Vice Chairman. Next in line is Mr. Michael T. Duke as the President, Chief Executive Officer. Mr. Duke is President and CEO of Wal-Mart since February 1, 2009. Under him is Mr. Eduardo Castro-Wright as the Vice Chairman, Wal-Mart Stores, Inc; President and Chief Executive Officer, Global.com and Global Sourcing of Wal-Mart Stores, Inc. Finally, Mr. Charles M. Holley, Jr., who has just recently been appointed as Chief Financial Officer, Executive Vice President of Wal-Mart Stores, Inc., effective December 1, 2010 (Wal-Mart: Facts & News, 2010). The next topic to discuss will be Wal-Mart’s auditing firm.
Audit Procedures
The Independent Registered Public Accounting Firm has audited Wal-Mart Stores, Inc.’s internal control over financial reporting as of January 31, 2007, based on criteria of the Public Company Accounting Oversight Board. Their audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. They also audited the consolidated balance sheets of Wal-Mart Stores, Inc. as of January 31, 2009, 2008, and 2007, and the related consolidated statements of income, shareholders’ equity, and cash flows for each of the three years in the period ended January 31, 2009 (Wal-Mart: Facts & News, 2010). The next topic to discuss will be Wal-Mart’s stock exchange information.
Stock Exchange
Wal-Mart is a publicly traded corporation currently listed on the New York Stock Exchange and uses the stock ticker symbol WMT. Use the stock symbol to locate price quotes and to find financial analysis and information on websites. You can purchase Wal-Mart stock through a brokerage account or by enrolling in Wal-Mart’s direct stock purchase program (NYSE, 2010). The next topic to explore will be Wal-Mart’s assets.
Total assets are the combined value of all items of monetary value owned by an individual or business. A...

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