Unit 2-Assignment 2-Case Study Part 1GB518 Principles and Analysis of Financial AccountingBrad FriedmanProf Leon GroveMay 20, 2014IntroductionWhen it comes to managing and managing effectively a business transaction, there are many important considerations that must be taken into account. be aware of. Whether a small business or a conglomerate, having a strong competitive advantage is essential. This basically means that there must be something that differentiates the company from the rest of the competition, such as the products and services offered. In many sectors the market is very saturated and competition is tough, such as in the accounting and tax sector. In this industry, many products and services are offered, some of which are similar. Some businesses experience major success, while others experience minimal success or go completely bankrupt. For this assignment, I used Walmart as an example of an organization that is a major player in the American economy. They have been in business since 1962 and their services are numerous, including retail, grocery, electronics and home improvement. Walmart is considered the largest among all retailers, so it truly belongs to the retail industry. However, they face many challenges from industry competitors, such as Target, Big Lots, and Costco. Mr. Sam Walton (founder of Walmart), however, has achieved incredible success for Walmart in the retail market with an ever-expanding customer base. He started his business in 1945 in a branch of Ben Franklin Stores, focusing on selling products at lower prices in order to achieve higher sales volume with lower profit margins. Walmart Inc. was officially established in 1962 as a sole proprietorship... ... middle of paper ...... as evidenced by recently reported total revenue figures. According to Walmart's February 2014 press release, "total revenue was $129.7 billion, an increase of $1.9 billion, or 1.5 percent, from last year” (Walmart Corporate, 2014). References Walmart Corporate (February 20, 2014). Walmart Corporate - Walmart Reports Fourth Quarter Underlying EPS of $1.60 and FY 2014 Underlying EPS of $5.11. Accessed May 19, 2014 from http://news.walmart. com/news-archive/investors/2014/02/20/walmart-reports-q4-underlying1-eps-of-160-fiscal-2014-underlying1-eps-of-511Wal-Mart Stores, Inc. Form 10-K ( March 21, 2014). NYSE, New York Stock Exchange > Listings > Listings Directory Wal-Mart Stores, Inc.. Retrieved May 18, 2014 from http://secfilings.nyse.com/filing.php?doc=1&attach=ON&ipage=9482653&rid=23Wild, John J. (2012): Financial accounting: information for decisions