COMPANY BACKGROUND Wal-Mart is a global retailing corporation that operates a several hypermarkets departmental stores grocery stores. The retailing corporation is America based but operates globally that is in America Canada Argentina Mexico United Kingdom Japan and India although the company operates under a different name in some of the mentioned countries but its operations are ran by Wal-Mart. Wal-Mart operations are done in four divisions the corporation offer various retail formats to the divisions. The divisions are Walmart U.S Walmart International Sam’s Club and the Global E-commerce. Wal-Mart uses GAAP to report its transactions and it uses LIFO method of recording inventory. An analysis was done using the company’s financial statements form year 2013 to 2017. The following analytical review is based on the year 2016 and 2017.Risk Assessments Analytical Related to Company WAL-MART STORES INC (WMT) Cash Flow Flag INCOME STATEMENT 2016-2017 Fiscal year ends in January. or proved to exist. Short-term debt WAL-MART STORES INC (WMT) Cash Flow Flag BALANCE SHEET 2016-2017 Fiscal year ends in January. USD in millions except per share data. 2013-01 2014-01 2015-01 2016-01 2017-01 Change in % Short-term debt 12392 11773 6402 5453 3355 -38.47 This account is also prone to cases of fraud therefore needs to be checked. It has a percentage change of 38.47 which shows that the company paid some of its debt. Therefore this creates need to scrutinise whether the debts were actually paid. Accounts payable WAL-MART STORES INC (WMT) Cash Flow Flag BALANCE SHEET 2016-2017 Fiscal year ends in January. USD in millions except per share data. 2013-01 2014-01 2015-01 2016-01 2017-01 Change in % Accounts payable 38080 37415 38410 38487 41433 7.65 The following account has a positive increase of 7.65 there is need to find out why and whether the it actually borrowed. [...]
Create a plan for preliminary analytical procedures based on current year and prior year financial statements.