Company Selection PaperTeam B's assignment this week was to select two different publicly traded companies in the same industry. The two companies will serve as a basis for the teams' future missions. The two companies chosen for the study are Wal-Mart and Target. This article will provide an overview of each of the selected companies. Date Company Founded Wal-Mart was founded in 1962 by Sam Walton. The first Wal-Mart store was built in Rogers, Arkansas. Wal-Marts were gradually established in the United States and then moved to other countries such as Japan. Marshall Fields & Company was established in 1881, then began opening the Dayton Dry Goods Store in the Dayton Co. The Dayton Co. made a deal for the world of discount merchandising starting with the first Target. Targets have sprung up across the United States. Company Products and Services Wal-Mart has two store brands, Wal-Mart Regular and Super Wal-Mart. The difference being that the Super Wal-Mart has a grocery store inside as well as all the other products. The products offered by Wal-Mart vary from automotive needs to compact discs and DVDs. Families can purchase household items for kitchens, bedrooms or patios. Wal-Mart offers products for all household needs, such as vacuum cleaners, mops and brooms. Wal-Mart is an example of a one-stop shop; parents can buy clothes for their children or for their adults. Target offers products such as housewares and sports equipment. Target and Wal-Mart are similar in items sold. Target offers family-oriented products for children of all ages, as well as adult clothing shopping. Target offers movies, CDs and DVDs. Target also offers vacuum cleaners, bed and bath items, and kitchen items. Target is another example of a one-stop shop. The auditing firms Wal-Mart and Target both had their annual audits carried out by the Ernst & Young organization. Ernst & Young has performed an audit of the consolidated balance sheets and related consolidated statements of income, stockholders' equity and cash flows for each of the three years in the period ending January 31, 2006 for Wal-Mart Stores, Inc and the January 28, 2006 for the company Target. Ernst & Young's responsibility is to express an opinion on the financial statements presented by Wal-Mart and Target, holding both companies accountable for the accuracy and truthfulness of the audited statements. Audits must comply with the standards of the Public Company Accounting Oversight Board (PCAOB), which require that the audit must have sufficient evidence that the financial statements do not contain any false material..