Businesses keep various types of financial records, and it is the responsibility of managers to ensure that the records are maintained and resolved at the end of the fiscal year. Most companies have shareholders who want a year-end report on how the company did and with a projection of what the company is capable of doing in the future. Shareholders have a vested interest and want to be informed about the financial performance of the company. The financial records of major companies are in the public domain and this document compares Target and Wal-Mart and their financial positions. Wal-Mart Corporation Wal-Mart Stores, Inc. operates retail stores in various formats throughout the world. Wal-Mart is committed to growing by improving the standard of living of our customers around the world. Wal-Mart earns the trust of its customers every day by providing a broad assortment of quality products and services at low everyday prices, while fostering a culture that rewards and embraces mutual respect, integrity and diversity. Net sales in 2006 were $312.4 billion, compared to $285 billion in 2005. The following chart shows key financial data for fiscal years 2006 and 2005. Financial Summary Fiscal Year 2006 Fiscal Year 2005 Operating Results Sales Net 312427 285222 Net Sales Increase 9.5% 11.3% Comparative U.S. Store Sales Increase 3% 3%Cost of Sales 240391 219793 Operating, Selling, and General Expenses 56733 51248Net Interest Expense 1172 986Income from Continuing Operations 11231 10267 For common stockIncome from continuing operations 2.68 2.41Diluted net income 2.68 2.41Dividends .6 .5 2Financial positionsCurrent assets 43824 38854Inventories 32191 29762Property...... middle of paper ......are liable to a board of directors and shareholders and publish annual reports that are in the public domain so as to ensure that financial standards are always higher. Conclusion Financial records are very important aspects for any company and it is essential to ensure that the records are accurate. Determining a company's performance is a guess, but it is based on the previous year's financial statements and this is why financial records are so important. Making a profit is a goal for any business. References Anderson, L. (2000). Retail and wholesale industry. Retrieved January 31, 2007, from http://hoovers.comTarget Corporation, (2006). Financial Summary, Continuing Operations, Retrieved January 31, 2007, from http://moneycentral.msn2006 Wal-Mart Annual Report. Retrieved from http://walmartstores.com/Files/2006_annual_report.pdf in February 2, 2007.