The consolidated fiscal statements include the accounts of Wal-Mart Stores, Inc. and its subsidiaries. Significant inter saddle proceedings have been eliminated in consolidation. investments in which Wal-Mart has a 20% to 50% voting interest and which Management control atomic number 18 accounted for using the equity method. The circumspection at Wal-Mart has developed and maintains a outline of indwelling and manifestation controls, including an extensive internal audited account program. Those controls ar designed to set up logical potency that the Companys assets are protected from improper social occasion and that Wal-Marts accounting records provide a reliable basis for the set of financial statements. They continually review, bring out and modify their systems and programs in answer to changes in business conditions and employment operations and on the recomm depotations that are made by Wal-Marts internal and orthogonal auditors. They believe that the system of internal and disclosure controls provides reasonable assurance that Wal-Marts assets are safeguarded and that the financial information disclose is reliable. Wal-Mart considers investments with a matureness of three months or less when purchased to be gold equivalents. The legal age of payments due from banks for third-party credit brainpower, account plug-in and electronic put on transactions (EBT) go at heart 24-48 hours, except for transactions occurring on a Friday, which are mainly processed on Monday.
on the whole credit card, debit card and EBT transactions that process in less than seven days are class ad as hard cash and cash equivalents. Amounts due from banks for these transactions classified as cash come $866 million at the end of January 31, 2004. Their accounts receivables inhabit primarily of receivables from indemnity companies generated by their pharmacy sales, receivables from reliable body politic transactions and receivables from suppliers for marketing or inducement programs. Additionally, amount due from banks for client credit card, debit card and EBT transactions that throw in excess of seven days... If you wish to get a sufficient essay, order it on our website: Orderessay
If you want to get a full information about our service, visit our page: How it works.