Financial Statement Analysis - Course

Financial Statement Analysis



Financial Statement Analysis

For group bookings, to discuss tailored delivery or for any questions about this course, please get in touch:

Course Overview


This course is designed to provide a deep dive into the essentials of financial analysis, blending theory with practical Excel-based applications.


Starting with a quick review of accounting elements, the course sets the stage by discussing market benchmarks, value creation for company managers, and dissecting the balance sheet, income statement, and statement of cash flows through hands-on accounting exercises. It progresses into advanced Excel modelling, teaching participants essential tips, tricks, and shortcuts for efficient model construction, including three-statement modelling and the dynamics of circular referencing.


The course emphasises ratio analysis, offering a thorough review and application of financial performance, liquidity, activity, leverage, profitability, growth, and risk metrics, incorporating the DuPont model for a detailed understanding of corporate risk.


Forecasting methodologies and financial modelling techniques are covered to prepare participants for generating probabilistic forecasts and valuations. The journey continues through valuation techniques to understand enterprise value from fundamental and market perspectives, diving into trading comparables, discounted cash flow, and transaction comparables.


The programme concludes with a critical examination of credit analytics and rating processes, providing insights into the role of credit in financing the economy, the dynamics of credit risk, and an evaluative look at the performance and methodologies of credit rating agencies.




Learning Objectives


  • Master Financial Statement Analysis: Learn to navigate through financial statements with confidence, understanding the implications of balance sheet items, income statements, and cash flow statements.
  • Excel in Excel Modelling for Finance: Gain proficiency in Excel, mastering essential functions, shortcuts, and modelling techniques that enhance efficiency in financial analysis.
  • Deep Dive into Ratio Analysis: Become equipped to conduct comprehensive ratio analysis using historical data and forecast models.
  • Forecast Financial Performance with Accuracy: Learn methods for forecasting financial statements, exploring various sources for sales forecasts, and developing probabilistic outputs for better forecasting and valuation accuracy. Differentiate between fixed and variable costs and to develop forecasting relationships based on historical financial statement decomposition.
  • Understand and Apply Valuation Techniques: Learn to calculate and understand enterprise value through fundamental analysis and market values, exploring the components of enterprise value calculations and the major valuation methods.
  • Navigate the Landscape of Credit Analytics and Rating Processes: Gain insights into the role of credit in the economy, the workings of credit rating agencies, and the accuracy of credit ratings, especially in light of the 2008 financial crisis. Explore credit risk parameters and the significance of liquidity risk, preparing them to assess and manage credit risk effectively.

Course Modules


  • Quick Review of Accounting Elements
  • Three Statement Modelling
  • Review of Ratio Analytics
  • Using Ratio Analytics
  • Forecasting Methodologies
  • Financial Modelling Techniques
  • Valuation – Arriving at Enterprise Value
  • Liquidity and Credit Risk
  • Credit Analytics – Credit Rating Agencies – framed via 2008
  • Credit Rating Processes

For group bookings, to discuss tailored delivery or for any questions about this course, please get in touch:

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Financial Statement Analysis

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