Walmart, Inc 2017

timer Asked: Mar 4th, 2018
account_balance_wallet $20

Question description

After researching the industry for the public company you have selected for your final project, review the footnotes accompanying the financial statements. Find all relevant footnote disclosures that discuss the firm’s revenue recognition policies and strategies. You may also find relevant information about revenue recognition in other sections of the annual report. Using the information provided, as well as your knowledge and research of the challenges of revenue recognition rules, discuss the challenges and risks associated with auditing this section of your firm’s financial statements.

Tutor Answer

School: UCLA


Running Head: WALMART INC.


Walmart, Inc. Revenue Recognition


Financial recognition refers to involve the conditions and terms under which revenue
should be adjusted depending on the laid down accounting standards and policies of the
particular company. Financial matters are prudent for any organization. This paper discusses
Walmart, Inc. financial statements. Financial viability is prudent in decision making for this
company. There are well organized and prepared financial statements. Financial recognition is
discussed at length. Also, challenges and risks involved in it are well articulated. As discussed
below, it's clear that there exist various challenges as well as risk whenever there is auditing for
the above mentioned.
Associated risks
Strategic risks.
These are risks arising from managemen...

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