In the United States (US), a public company’s financial statements must be according to Generally Accepted Accounting Principles (GAAP). These principles are cost, revenue recognition, and matching principles. Examine the financial statement and notes of WALMART Company. Write a paper of 6 pages (double-spaced) discussing the
following: GAAP and description of the accounting principles: Cost, revenue recognition, and matching.
1. Introduction/background information about the selected company.
2. Selected company’s application of GAAP in cost recording, revenue recognition, and matching of expenses and revenues.
3. Description of recent accounting standard(s) and pronouncement(s) that affect the selected company’s financial statements.
4. Description of assertions of internal controls in the notes to the financial statements.
Pre-Written Pages: 6
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