Analysis of Wal-Mart Financial Statement for Year Ended January 31, 2004 <Tab/>The consolidated financial statements include the accounts of Wal-Mart Stores, Inc. and its subsidiaries. Significant inter company transactions have been eliminated in consolidation. investments in which Wal-Mart has a 20 per cent to 50 percent voting interest and which Management control are accounted for using the equity method. The management at Wal-Mart has developed and maintains a system of internal and disclosure controls, …showed first 75 words of 480 total…

…showed last 75 words of 480 total…LIFO by a significant amount. <Tab/>The management of Wal-Mart Stores, Inc is responsible for the integrity and objectivity of the financial statements and other information presented in their reports, The financial statements were prepared in conformity with accounting principles generally accepted in the United States. The preparation of financial statements requires certain estimates and judgments, which are based upon currently available information and management's view of current conditions and circumstances.