Advanced Financial Statements Analysis

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Advanced Financial Statements Analysis

Advanced Financial Statements Analysis course aims to give delegates the opportunity to examine the various means to assess the operational and financial performance of their organizations as well as their competitors, suppliers, and clients.

Ensuring that the basics are in place, this course will quickly go on to look at some of the more advanced ratios for assessing the financial health of an organization – both from an internal perspective as well as an external ‘asset valuation’ perspective. We will consider industry-specific ratios during the course and believe what information they tell us. Delegates are encouraged to bring with them the financial statements of their organizations, their competitors, their suppliers and their clients to ensure that the concepts covered can be applied to their own specific companies.

Whether assessing current performance, developing Key Performance Indicators (KPIs) or merely developing a forecast budget, do you understand the story behind your company’s financials? Can you read the warning signs or identify when and where numbers don’t make sense? How does your business compare to its competitors, shareholders, employees and other stakeholders? Is there an expectation gap? Increase your financial literacy: become a competent manager as you understand how your business is viewed and learn how to sway perception rather than react to perceived shortfalls.

The course is essential for all those who have to read, understand and analyze financial statements. The tools and techniques you will gain from this highly informative course will be readily transferable to the workplace, enhanced through a combination of interactive case studies, exercises and examples.

Ever wonder how the world’s most successful investors (such as Warren Buffett, David Einhorn, or Jim Chanos) are so successful? It’s because they employ industry-leading advanced financial statement analysis skills to root out opportunities.

You might be interested in another Finance and Accounting programs as a next step.

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  • View Schedule
  • COURSE TYPE Advanced
  • DURATION 5 days
  • COURSE ACCREDITED BY Local Certificate


This programme reviews the content and purpose of the three fundamental financial statements, the Income Statement, the Balance Sheet and the Cash Flow Statement. Through various hands-on class exercises and discussions, the interplay between each is demonstrated and highlights why good financial statement analysis takes time. Attendees are also encouraged to use Excel to undertake analytical exercises, such as capex smoothing, ratio analysis, and break-even analysis.

A lot of courses directly teach you how to perform a few financial ratios. That’s important, but it is only a small part of successful financial statement analysis. Correct financial statement analysis requires in-depth reading, research, and other analytical strategies that will give you a real investing edge.

Strategic Axis will teach you the tricks of the trade that many successful investors use on a daily basis. By the end of this course, you will learn how to read and analyze a company’s SEC filings like a pro!

If you want to be a successful Financial Analyst, Investor, Investor Relations Manager, Private Equity Analyst, Investment Banker, Hedge Fund Analyst, or Sell Side Research Analyst, then this course will is perfect for you!


Participants who fully attend this course and complete the test on the last day will receive a Strategic Axis Professional Certificate (SAPC). SAPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.



Module 1: Introduction To Advanced Financial Analysis

Why analyze financial data?

Who are the users of financial information?

Sources of financial information

Published annual report and accounts – what is their purpose?

The structure and contents of an annual report and accounts in the UK and other countries

Creative accounting, financial scandals, and the agency problem

Corporate governance and corporate social responsibility (CSR) reporting

The three main financial statements: income statement; balance sheet; statement of cash flows

Module 2: Analyzing The Annual Report And Accounts

Using ratio and other analyses of the annual report and accounts to assess financial position and financial performance

Profitability and cost-volume-profit (CVP) analysis

Efficiency and working capital

Liquidity and the short-term solvency

Investment and growth

Financial structure and long-term solvency

Ratio analysis using Excel

Excel trend analysis using common-size horizontal analysis and vertical analysis for comparability

Module 3: Analytical Tools, Cash Versus Profit, And The Cash Forecast

The Dupont system of ratio analysis, and pyramids of ratios

Segmental analysis and value-added summary of the annual report and accounts

The fundamental statistical tools and graphical representations

Using statistical techniques to analyze and forecast financial data

The impact of alternative asset valuation methods on the balance sheet and profitability

Cash flow versus profit – the best measure of financial performance?

Working capital and the cash flow operating cycle

Direct and indirect cash flow analysis and the cash flow forecast

Module 4: Financing The Business, Capital Investment Project And Business Valuation

Analysis of the balance sheet to identify long-term debt and equity, and short-term financing

Capital cost models: cost of equity using dividend growth and capital asset pricing model (CAPM); loss of debt

Weighted average price of capital (WACC)

Optimal capital structure models to minimize WACC

Future values, present values, and discounted cash flow (DCF)

Using net current value (NPV), internal rate of return (IRR), modified internal rate of return (MIRR) and equivalent annual cost (EAC) to analyze and evaluate capital projects

The reasons for business valuations

Business valuation models

Module 5: Analyzing And Predicting Corporate Failure, Business And Financial Risk

Predicting financial distress and corporate failure – the Altman Z-score model

Risk and uncertainty

Risk analysis using expected values, standard deviation, and coefficient of variation

Sensitivity, simulation, scenario and break-even analysis techniques

The analytical tools to manage risk

Systematic risk, unsystematic risk, business risk and financial risk

Financial risk – interest rate and foreign currency exchange rate exposures

Using insurance, hedging, and derivatives to mitigate and minimize risk

  • In The Classroom

  • Live, Online

  • Private Team Training

  • Indiviual Private Session

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