Explain the meaning of the quote and the terms used in it

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The following quote was taken directly from the audit report written by Pricewaterhouse Coopers on the 2009 financial statements of Kroger. In our opinion, the accompanying consolidated balance sheets and related consolidated statements of operations, cash flows and changes in shareholders' equity present fairly, in all material respects, the financial position of Kroger Co. and its subsidiaries at January 31, 2009 and February 2, 2008, and the results of their operations and their cash flows for each of the three years in the period ended January 31, 2009 in conformity with accounting principles generally accepted in the United States of America.

Explain the meaning of the quote and the terms used in it.

Reference no: EM131415883

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