AC114 Unit 5 Discussion Critical Analysis of Financial Statement Data
As an accountant, it is not only important to be able to construct financial statements but you must be able to critical analyze their content. This discussion will provide you an opportunity to review actual statements and provide comments on their content.
Topic 1: Critical Analysis of Financial Statement Data
In this week’s Discussion, you will be comparing the financial statements of two companies. Please select from the following list:
- Wal-Mart®
- Kmart®
- Target®
- Carrefour Group®
- Tesco ® plc.
To locate the financial statements, go to the Investors section of the company website and access the most recent annual report. Be sure when you are comparing the companies, the annual report selected is for the same year. Once you have made your selection, please answer the following:
- What are the differences and similarities between their income statements?
- What are the differences and similarities between their balance sheets? What classifications are presented?
- Locate the notes to the financial statements and highlight some of the notes you found that would be of interest to investors about each company.
AC114 Unit 5 Discussion Critical Analysis of Financial Statement Data Answer
Hello everyone, the two companies I chose were Target and Walmart.
What are the differences and similarities between their income statements?
The differences between Walmart and Target income statements are Walmart had accessible information for up to 2021 and Target last available income statements were from 2019. Targets income statements seem a little more complicated to follow versus Walmart’s. Target seems to break down its revenues in more specific detailing versus Walmart. They both also label them differently. The similarities are they both also use fiscal years instead of calendar years. They both start their fiscal year on February 1st and ends on January 31.
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