Essay On Financial Accounting Principles And Analysis

1311 Words6 Pages
Unit 2-Assignment 2-Case Study Part 1 GB518 Financial Accounting Principles and Analysis Brad Friedman Prof Leon Grove May 20th, 2014 Introduction When it comes to running and managing an effective business operation, there are many important considerations to be mindful of. Whether it’s a small business or a conglomerate, it’s crucial to hold a strong competitive advantage. This basically means that there needs to be something that differentiates the business from the rest of the competition, such as the products and services that are offered. In many industries, the market is highly saturated with stiff competition, such as the accounting/tax industry. In this industry, there are many products and services offered, of which, are similar. Some companies have major success, while others have minimal success or go completely out of business. For this assignment, I used Walmart as an example for an organization that is a major player in the U.S. economy. They have been in operation since 1962, and their services are many, including retail, groceries, electronics, and home improvement. Walmart is considered the largest among all retailers, so it truly belongs to the retail industry. They do, however, face many challenges from industry competitors, such as Target, Big Lots, and Costco. Mr. Sam Walton (Walmart’s founder), however, has earned incredible success for Walmart in the retail market with an ever-expanding customer base. He started his business back in 1945 from a branch of Ben Franklin Stores, with a focus on selling products at lower prices to get higher-volume sales at lower-profit margins. Walmart Inc. was officially established in 1962 as a proprietorship... ... middle of paper ... ... evidenced by recently reported total revenue figures. According to Walmart’s February 2014 news release, “total revenue was $129.7 billion, an increase of $1.9 billion, or 1.5 percent, over last year” (Walmart Corporate, 2014). References Walmart Corporate (2014, February 20). Walmart Corporate - Walmart reports Q4 underlying EPS of $1.60, Fiscal 2014 underlying EPS of $5.11. Retrieved May 19, 2014, from http://news.walmart.com/news-archive/investors/2014/02/20/walmart-reports-q4-underlying1-eps-of-160-fiscal-2014-underlying1-eps-of-511 Wal-Mart Stores, Inc. Form 10-K (2014, March 21). NYSE, New York Stock Exchange > Listings > Listings Directory Wal-Mart Stores, Inc.. Retrieved May 18, 2014, from http://secfilings.nyse.com/filing.php?doc=1&attach=ON&ipage=9482653&rid=23 Wild, John J. (2012): Financial Accounting: Information for Decisions
Open Document