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Essay / Research Paper Abstract
This 30 page paper examines the performance of the wards largest to supermarket chains; Wal-Mart and Carrefour. The paper starts by examining the financial performance between 2005 and 2009 comparing and contrasting profitability, efficiency and liquidity through ratio analysis. The second part of the paper looks at the strategies and approaches adopted towards business by each company and at some of the influences which have been felt during the period for which the financial ratios were prepared. The last part of the paper considers the differences of the two accounting regimes under which the annual accounts for both companies are prepared, US GAAP and IFRS, discussing the similarities and differences. All calculations are shown for the ratio analysis. The bibliography cites 30 sources.
Page Count:
30 pages (~225 words per page)
File: TS14_TEwalcarre.doc
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Unformatted sample text from the term paper:
instances one particular company may well be substituted easy for a competitor (Kotler and Keller, 2008). However, only a few of the supermarket chains that are competing across the globe
have been able to transform themselves into international or multinational organizations due to many of the different barriers that exist between different countries, due to divergent consumer needs (Hooley et
al., 2007). Wal-Mart is known to be not only the worlds largest supermarket, but the worlds largest company, entering 2011 with 8,833 retail units, located in 15 different countries (Wal-Mart,
2010). The second largest global supermarket is the French chain Carrefour (Official Spin, 2010), an organization it has 15,500 stores located across 34 countries (Carrefour, 2011). In order to assess
the performance of both companies the financial performance can be considered utilizing a ratio analysis. As the companies report in different currencies, Wal-Mart in US dollars, and Carefour in euros,
the utilization of a ratio analysis will allow for a direct comparison of performance. This will be examined with a range of different ratios in section 2. The ratios themselves
will reflect the different influences that have been felt by the firms, which we discussed in section 3. However, it is also notable that the results may not be directly
comparable due to the different accounting regulations in which the annual reports are prepared, with the US Wal-Mart coming and the US GAAP (Generally Accepted Accounting Principles) and Carefour complying
with IFRS (International Financial Reporting Standards). Therefore, the last section of this paper, section 4, will consider the differences between these two frameworks. 2. Ratio Analysis In order to compare
the two companies the last five years of annual accounts which are available will be utilized in order to produce ratios, facilitating both a practical and a horizontal analysis of
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