Acc 290 Week 5 Homework

Topics: Balance sheet, Asset, Generally Accepted Accounting Principles Pages: 1 (286 words) Published: February 27, 2012
Numerous amounts of information can be found in an Annual Financial Report. Team A is again utilizing Wal-Mart’s Annual Financial Report to answer the questions for the week five assignment. The questions for week five dig a little deeper into the financial report than the questions for week four. We will analyze the annual financial report and realize the information it has to offer. This paper will address the following subjects-- assets listed in proper order, how the assets are classified, what the cash equivalents are, and the company’s total current liabilities at certain periods. Team A will answer these questions in summary form below and by analyzing the financial report will make us better understand the concepts of reading financial reports. It will also make us more knowledgeable in this area of accounting, being able to read and decipher the financial statements, so that we may apply this knowledge for possible future investment endeavors.

The assets listed on Wal-Mart’s balance sheet under Assets are, Cash and cash equivalents, Receivables, Inventories, Prepaid expenses and other, and Current assets of discontinued operations (Wal-Mart, 2011). These assets are listed in the proper order because they are listed in order of liquidity. This means that they are listed in an order from top to bottom in which the top is most likely to be converted into cash. The highest liquidity is cash, whereas something like equipment and machinery have the lowest liquidity. Wal-Mart lists their assets by liquidity from highest to lowest as do most companies.


Wal-Mart (2011). Wal-Mart 2011 Financial Report- Balance sheet and balance consolidated. Wal-Mart. Retrieved from
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