How to transform the tremendous amount, Accounting Basics

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How to transform the tremendous amount

How Does Wal-Mart (and Other Companies) Do It?

Response to the following problem:

Wal-Mart's revenues exceeded $312 billion in 2005. These revenues were generated by millions of transactions all over the world: in the United States, Canada, Europe, South America, and Asia. What is the process used by Wal-Mart to transform this tremendous amount of transaction data into summarized information reported to the general public in the form of financial statements?

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Accounting Basics: How to transform the tremendous amount

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