Investment Analyst Prep
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All learning paths
Financial Statement Analysis
18 Lessons
Level 1
Read an annual report with a purpose
Read an annual report with a purpose
Foundations
Beyond the audited statements
Foundations
Level 2
From revenue to shareholder earnings
Revenue, expenses and margins
Core
Basic and diluted earnings per share
Exam-ready
Level 3
Understand what the balance sheet measures
What the balance sheet measures
Foundations
Intangibles, goodwill and liquidity
Core
Level 4
Reconcile profits with actual cash
Reconcile profit with cash
Core
Level 5
Test cash generation and coverage
Free cash flow and coverage
Core
Level 6
Trace inventory accounting into ratios
Inventory cost flows and write-downs
Core
Level 7
Asset spending, impairment and disposal
Capital spending, depreciation and impairment
Core
Level 8
Leases, employee benefits and owners' claims
Leases, pensions and equity
Core
Level 9
Reconcile book tax and cash tax
Book tax, cash tax and deferred tax
Core
Level 10
Question the quality of reported numbers
Reporting quality versus earnings quality
Core
Warning signs and accounting choices
Exam-ready
Level 11
Turn statements into comparable signals
Ratios that compare companies
Core
DuPont analysis of return on equity
Exam-ready
Level 12
Link statements in a forecast
Forecast revenue and costs
Core
Link the statements in a forecast
Exam-ready