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30-Day Money-Back Guarantee

This course includes:

  • 8 hours on-demand video
  • Full lifetime access
  • Access on mobile and TV
Finance & Accounting Finance Corporate Finance

Corporate Finance 101: Financial Statement Analysis & Ratios

A zoom-in, zoom-out, connect-the-dots guide to understanding financial statements, and analysing companies
Rating: 4.3 out of 54.3 (129 ratings)
3,219 students
Created by Loony Corn
Last updated 8/2016
English
30-Day Money-Back Guarantee

What you'll learn

  • Interpret financial statements - the Balance Sheet, Income Statement and Statement of Cash Flows
  • Parse SEC filings such as the 10K and 10Q to understand the business model of any company entirely from its investor filings
  • Calculate ratios in all major categories: liquidity, leverage, turnover, profitability and valuation
  • Apply Dupont's Identity to see whether a company's stock returns are driven by operational efficiency, asset efficiency or leverage
  • Calculate the sustainable rate of growth at which a company can grow without external financing

Requirements

  • This course assumes no prior knowledge of accounting or finance
  • The investor relations sections of Facebook, Twitter and LinkedIn will be used, but the course will discuss how to access and use these public sites

Description

This is a zoom-in, zoom-out, connect-the-dots tour of Financial Statement Analysis

Let's parse that

  • 'connect the dots': Financial Statement Analysis gets a bad rep because its hard to connect the nitty-gritty of the financial statements to the company as a whole. This course makes a serious effort to do exactly that.
  • 'zoom in': Getting the details is very important in corporate finance - a small typo, or a minor misunderstanding can cost a company big. This course gets the details right where they are important.
  • 'zoom out': Details are important, but not always. You probably don't care about the nitty gritty of accounting for contingent liabilities if you don't know what accounts payable are. This course knows when to switch to the big picture.

What's Covered:

  • Corporate Finance Introduced: partnerships, proprietorships and the corporation
  • The Agency Problem: How auditors, the board of directors and the capital markets regulator play a role
  • Financial Statements: Balance Sheet, Income Statement, Statement of Comprehensive Income and Cash Flow Statement at exactly the right level of detail
  • Ratios: Five important types of ratios: liquidity ratios, leverage ratios, turnover ratios, profitability ratios and valuation ratios
  • Dupont's Identity: Return-on-equity can be decomposed into 3 elements: profits, asset-leanness and leverage.
  • External Financing Needed (EFN) and the Sustainable Rate of Growth: How fast can a company grow if it chooses to forgo external funding? Every startup should know this, really.
  • Common Accounting Shenanigans: The playbook of financial statement cheats has been studied by auditors and regulators - learn from history so you are not condemned to repeat it.

Case Studies:

Understanding a company entirely from its investor filings

  • Facebook: Fast-growing and profitable, this is the dream stock right now.
  • LinkedIn: Versatile, but struggling to break through - the jury seems out on LinkedIn
  • Twitter: Bleeding red and slowing growth - Twitter seems to be in trouble.

Who this course is for:

  • Yep! Business majors and aspiring MBAs
  • Yep! CFA Level I candidates
  • Yep! Entrepreneurs looking to understand basic corporate finance
  • Nope! Accountants - you'll find this course too basic

Course content

12 sections • 43 lectures • 8h 1m total length

  • Preview02:08

  • Preview09:45
  • Partnership
    06:08
  • The Corporation
    13:47
  • Public and Private
    06:37
  • Preview12:37

  • The Balance Sheet
    05:33
  • Assets
    14:54
  • Liabilities
    03:50
  • Preview10:10
  • Balance Sheet Case Studies: Facebook, Twitter, LinkedIn
    13:10

  • Income Statement
    16:18
  • Preview13:07
  • Statement of Comprehensive Income
    09:45
  • Income Statement Case Studies
    06:30

  • Statement of Cash Flows
    12:34
  • The Direct and Indirect Methods
    11:58
  • Cash Flow Statement Case Studies
    03:28
  • Working with Cash Flows - I
    15:44
  • Working with Cash Flows - II
    13:57

  • Ratios Introduced
    05:00
  • Liquidity, Leverage and Efficiency
    12:47
  • Profitability and Valuation
    05:13

  • Dupont's Identity
    09:32
  • Preview10:55
  • Common Accounting Shenanigans
    10:06

  • Facebook
    08:40
  • LinkedIn
    12:29
  • Twitter
    17:51

  • Introducing EPS
    13:30
  • Basic EPS
    13:13
  • Diluted EPS
    16:04
  • Diluted EPS (continued)
    16:54

  • Inventory Valuation
    15:19
  • Understanding Inventories
    17:07

Instructor

Loony Corn
An ex-Google, Stanford and Flipkart team
Loony Corn
  • 4.2 Instructor Rating
  • 21,414 Reviews
  • 127,509 Students
  • 73 Courses

Loonycorn is us, Janani Ravi and Vitthal Srinivasan. Between us, we have studied at Stanford, been admitted to IIM Ahmedabad and have spent years  working in tech, in the Bay Area, New York, Singapore and Bangalore.

Janani: 7 years at Google (New York, Singapore); Studied at Stanford; also worked at Flipkart and Microsoft

Vitthal: Also Google (Singapore) and studied at Stanford; Flipkart, Credit Suisse and INSEAD too

We think we might have hit upon a neat way of teaching complicated tech courses in a funny, practical, engaging way, which is why we are so excited to be here on Udemy!

We hope you will try our offerings, and think you'll like them :-)

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