Wal-Mart is a leading listed US based Company that serves in the consumer services industry. The company has a phenomenal growth rate and has successfully managed to power revenue and profit growth and consequently increase shareholder’s wealth. The company’s audited revenue figure during the year ended 31st, January, 2015 was $476,294 million that makes Wal-Mart become part of the leading revenue generating companies of the US and the world.
The company has a huge portfolio of assets and is being managed by the leading experts in the Asset Portfolio Management Industry. There have been several adjustments done with the balance sheet items during the year ending on January, 31, 2015. The changes/adjustments have been made in case of Current Assets, Total Assets, Current Liabilities, Total Liabilities, Stockholder’s equity and finally the reported income.
Historical cost method has been used to prepare the financial statements of Wal-Mart that included preparation of Income Statement, Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Stockholders’ Equity and Statement of Cash Flows. The main adjustment made with the Current assets of the company is that the Current Asset figure has been reduced by $728 which has booked as Current Deferred Tax Assets and included in the Prepaid Expenses and Other. In case of Total assets Operating leased assets worth $9688 million has been added to this Year’s Opening balance of Total Assets. Both Current and Non Current deferred tax assets have also been deducted from the opening figure to arrive at this Year’s closing figure of $211,633 million for the Total Assets. (Lichtenstein, Nelson (July 21, 2009).
In case of Liabilities payable by Wal-Mart, the opening figure of $117,769 million has been adjusted by Operating lease obligations and deducting current and non-current deferred tax liabilities to arrive at the final figure of $122,730 for the Total Liabilities payable by Wal-Mart at the Year End January, 31, 2015.