Wal-Mart In Appendix A at the back of this text is Wal-Mart’s Form 10-K for the year ended January 31, 2006. Review the Form 10-K and identify its major areas. How many pages of the Form 10-K are devoted to a narrative of the prior three years’ performance? How many pages focus on explaining technical accounting and business-related issues and procedures?

In your opinion, given your limited knowledge of accounting, what is the most interesting part of the Form 10-K? What is the least interesting?