Wal-Mart Stores

I. INTRODUCTION

The study relates to Wal-Mart Stores, which belongs to retail sector in particular, Department Stores/ General Merchandise. Wal-Mart Stores operates retail stores in various formats. The operations of company comprise of three business segments that are Walmart United States which operates retail stores in various formats in all 50 states in the Puerto Rico and United States and also its online retail operations; Walmart International which comprises of retail operations in 26 countries and includes numerous formats of wholesale clubs, retail stores, restaurants which entail Sam's Clubs and various websites of retail that works from the outside of United States which consists of membership warehouse clubs operated in 47 states in the United States and Puerto Rico as well as the online retail operations segment.

II. IFRS

Implementation of IFRS is a long process that has several stages and requires careful project management at Wal-Mart Stores. Management of Wal-Mart Stores determines their strategy which is based on short term and long term goals, plans for the implementation of these goals and support for implementation of each step.

Wal-Mart Stores understand the concept of IFRS and its fundamental differences from the accounting regulations and practices. In creating a project team should be clearly defined responsibilities and rules for the management of individual workers. The challenge is to create a budget costs associated with the transition to IFRS and identify potential problems. IFRS bring with it changes in internal accounting rules, which must be prepared. It is necessary for Wal-Mart Stores to:

Consider the possibility of the enterprise information system

Consider the use of external advisors and consultants

Verify the readiness audit

Inform the prepared changes

Coordinate procedures

Obtain information on the progress of partner companies

III. IFRS future

The preparation of financial statements in conformity with IFRS, Wal-Mart Stores requires knowledge of all applicable standards. The financial statements must include transparent and comparable data reported in accordance with IFRS. The concept of "first use IFRS" means the entity first clearly and without exceptions and other constraints publish the statements are prepared in accordance with IFRS, regardless of the fact that the earlier statements of operation in accordance with IFRS prepared, but only for internal purposes or such statements are not in full compliance with all IFRS etc.

The analysis of financial statements at Wal-Mart Stores is a technique that performs decomposition, comparison and interpretation of financial statements of Wal-Mart Stores aiming to extract information for an assessment of the economic and financial situation at a given time and in comparison with competitors. When analyzed, accounting and financial statements of Wal-Mart Stores are shall be such value information and are not merely a gathering of data. Due to the importance of the information from these analyzes, many studies have been conducted with the financial statements disclosed by the companies (Ball, 5-27). This technique is extremely important for Wal-Mart Stores, but some aspects of the companies that are not quite clear to these analyzes may exist, and then needed a further study of Wal-Mart Stores to clarify all obscure ...