HOW TO READ A BALANCE SHEET

Description

Knowing how to read a balance sheet is an essential skill for anyone looking to become a better investor. A crash course in understanding a company’s report and accounts, this programme is ideal for anyone wanting to get more comfortable with the art of dissecting balance sheets and accounts more generally.

How to Read a Balance Sheet is an ideal course for anyone wanting to understand a company’s report and accounts. Whether you’re:

We’re here to translate the jargon that dominates the investment sector into a language that anyone — whether they’re an experienced pro or a newcomer — can understand: we never mention debts or credits (promise), and we’ll show you how to interpret a set of accounts (because you don’t really need to know how to prepare them).

When you have completed this course, you’ll be able to understand the jargon, tell the difference between a pension liability and a provision, and know whether a company is truly profitable and a quality business.

What will you learn in the How to Read a Balance Sheet course?

• How to Approach the Accounts
• Audit Report
• Fixed Assets
• Goodwill
• Other Long Term Assets
• Current Assets
• Current Liabilities
• Pensions
• Other Comprehensive Income Statement

• Revenue
• Gross Margin
• Expenses
• Margins
• Interest
• Other P&L Issues
• Non-GAAP Measures

• Introduction
• Structure of Cash Flow
• Operating Cash Flow
• Depreciation
• Cash from Investing
• Cash from Financing
• Capex outside the Cash Flow
• Amazon’s Cash Flow – A Critical Review
• Acquisitions in the Cash Flow

• Accounting Policies Module, Policy Changes
• FX Rates and Similar
• Revenue Recognition
• APMs
• Accounting Shenanigans Module
• Revenue Recognition Tricks, Cash Flow Manipulation, Tricks with Expenses
• Financial Ratios Module, Approach, P&L Ratios
• RoCE, ROIC, ROIC and CROCI
• Working Capital Ratios, Liquidity Ratios, Solvency Ratios
• Introduction to Analysis Module: Internal Analysis, Revenue Analysis
• Gross Margin, EBIT Margin, Peer Margins
• Adjusted Earnings
• Balance Sheet
• Returns

What to expect from this course- video

Free lecture previews: 

Amazon's Cash Flow

Goodwill

“After 10 years in Investment Management, I decided I wanted to take my analysis skills to the next level and was recommended the course by our Head of European Strategy. It gave me a fantastic insight into how to approach and analyse a set of accounts which I now use on a daily basis. I found it easy to follow and Steve was happy to help in any way possible. My only regret is that I couldn’t have taken it sooner in my career!”

Paul, England, Chartered Wealth Manager

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