Review of Financial Statements Paper

Topics: Generally Accepted Accounting Principles, Balance sheet, Income statement Pages: 4 (1359 words) Published: August 31, 2009
Review of Financial Statements Paper
The following financial comparison of two publicly traded companies, Whole Foods Market Inc. and Target Corporation, will enhance the understanding of the proposal presented for a possible corporate acquisition presented to our company. This presentation will present the possible acquisition of Whole Foods Market Inc. by Target, Inc. Both companies are industry based organizations. Whole Foods Market Inc. brings financial strength to an already financially stable Target. An overview of both company’s financial statements and the accompanying information presented by the independent auditors will provide an understanding of the current financial status. A deeper analysis of the all financial statements will provide the financial information necessary to determine the possible changes in the statements and accounts after an acquisition takes place. Company Overview

Whole Foods Market Inc. is a food retailer of natural products that have been organically grown and produced. Whole Foods specializes in produce, grocery, seafood, poultry, meat and fish, fresh baked products, prepared foods and catering, whole body products, beer and wine, cheese, pet products, floral and household products. “The company is consistently ranked among the most socially responsible businesses and placed second on the U.S. Environmental Protection Agency’s Top 25 Green Power Partners.” (www.wikipedia.org August, 2008). Whole Foods was established in Austin, Texas in 1978 by John Mackey and Renee Lawson, originally as a small natural foods store called SaferWay. In 1984, Whole Foods expanded its stores, first to Houston and Dallas and finally New Orleans. Whole Foods Company was purchased in 1988 and now has over 270 stores (Hoovers.com, 2008). Target Corporation is a retailing organization that originated in Minneapolis, Minnesota in 1902. Originally known as The Dayton Dry Goods Company, the first Target store was opened in 1962. Target currently...

References: Albrecht, Stice, Stice, and Swain. (2008). Accounting Concepts and Applications, 10th edition. Mason, OH: Thomson.
Hoovers.com (2008). Whole Foods Market, inc. Retrieved August 7, 2008 from http://www.hoovers.com/Whole-Foods/--ID__10952--/free-co-factsheet.xhtml?cm_ven=PAID&cm_cat=GGL&cm_pla=HST&cm_ite=whole_foods_history
Malcarney, D. (2004). An acquirer’s financial review. ZweigWhite. Retrieved August 10, 2008 from https://www.zweigwhite.com/perspectives/perspective.asp?pageid=226
MSN Money. (2008). Target Corp: financial statement. Investing. Retrieved August 7, 2008
http://moneycentral.msn.com/investor/invsub/results/statemnt.aspx?symbol=tgt
MSN Money. (2008). Whole Foods Market Inc: Company Report. Investing. Retrieved August 7, 2008 from http://moneycentral.msn.com/companyreport?Symbol=wfmi
Target.com (2008). The people, the stores, the store. Target Corporation. Retrieved August 7, 2008 from http://sites.target.com/site/en/corporate/page.jsp?contentId=PRD03-001087
Wikepedia.com (2008). Retrieved August 7, 2008 www.wikipedia.org
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