January 28th, 2020 
Questions:
A. Accounting Questions
Answer the questions below from Accounting and Financial Fundamentals for NonFinancial Executives Chapters 1-5 in one or two sentences for each question:
1. a. What is an Asset?
b. What is a Liability or Equity?
c. What are the two types of equity?
2. What is the Matching or Dual Aspect Principle? Explain double entry bookkeeping?
3. Compare and contrast the accrual and cash methods of accounting. What is the difference between changes in revenues and expenses and increases or decreases in cash? Why cant profit be managed by cash flows? Why is cash flow important?
4. What are the following accounting principles?
a. Money Measurement Principle,
b. Business Entity Principle,
c. Going Concern Assumption, and
d. Realization Principal
5. What are the following accounting conventions?
a. Convention of Consistency,
b. Convention of Conservatism, and
c. Convention of Materiality?
B. Walmart
1. Compare the current Walmarts 10-K form with its current Annual Report. What do they share in common and what are the differences? (Note: more than 2 sentences will be required here..)
2. Using Wal-Mart 10-K, read the following sections:
ITEM 1 The Business
ITEM 2 The Properties
ITEM 7 MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Notes to Consolidated Financial Statements
Reports of Independent Auditors
Please answer in 1 or 2 sentences:
a. What are major operating segments and what distinguishes them?
b. What measures does management focus on in judging business segment success?
c. What programs are designed to meet competitive pressures within the industry?
d. Internationally, where does Walmart own the most stores and where does it have the greatest square footage?
e. Is Walmart growing (include a statement as to what you mean by growing)?
f. What is Walmarts digital and on-line strategy and why would it be important?
g. How many employees does Walmart have globally and in the U.S?
h. How many employees are covered by collective bargaining agreements in North America?
C. Mergent Database
Access Mergent Online through Rutgers University Libraries website: http://www.libraries.rutgers.edu/indexes/mergent_online
Log in
Search for Walmart Inc. by entering its ticker symbol of WMT or its name
Select the Tab Competitors
1. Who are Walmart’s competitors?
2. Select Tab Company Financials
Select the tabs: Annuals; Balance Sheet; Three Years/Quarters.
Check the box Show Footnotes; then Select Refresh
Please answer in 1 or 2 sentences:
a. Look at the balance sheet for Walmart. What dates does it reflect?
b. What are the main current asset accounts? What makes them current assets?
c. Distinguish between accounts payable and accounts receivable.
d. What are total current assets and what does this mean?
e. What is Goodwill and what does this mean?
f. What are intangible assets and what does this mean?
g. What are current and long-term liabilities? What distinguishes them?
h. What is the difference between shareholders equity on the balance sheet and that reflected by the stock market in market capitalization (share price times outstanding shares)?
i. What are Walmarts obligations in Accrued liabilities and Accrued Income Taxes?
j. Is Total Walmart Shareholders Equity increasing or decreasing? What does that mean for Walmarts future?
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