Financial Statements Explained

Name: Financial Statements Explained
Rating: 4.4 (57 reviews)

Balance Sheets, Income Statements, Cash Flow Statements, Financial Analysis Made Easy

Created byHolly Zhang

Last updated 12/2023

English

What you'll learn

Understand the basics of financial concepts
Know financial reporting standards and regulators
Analyze items on financial statements
Conduct variance analyses of companies

Course content

8 sections • 23 lectures • 2h 0m total length

Course Preview4:14
This video introduces the course on financial statements. It goes over the curriculum, structure, as well as additional resources.
On Finance0:30

Introduction to Financial Statements4:24
This video introduces the three types of financial statements: Balance sheet, income statement, and cash flow statement.
GAAP: Matching Principle and Revenue Recognition6:39
This video introduces two of the most important principles in GAAP, the Generally Accepted Accounting Principles: Revenue Recognition and Matching Principle.
GAAP: Matching Principle and Revenue Recognition

Income Statement Components7:47
This video analyzes Amazon's recent Q3 income statement, analyzing and explaining its line items. It also introduces the concepts of EBITDA and EV/EBITDA.
EBITDA Exercise
Depreciation8:44
Correction: This is a continuation of Lesson 5, the Income Statement, not Lesson 4.
This video explains the types of depreciation and the impact on the income statement.
Depreciation Exercise
Mastercard's 2021 Variance Analyses (Mark-to-Market Explained)5:52
This video analyzes Mastercard's income statement and balance sheet, explaining the concept of MTM.

On GAAP0:22
GAAP vs. IFRS3:04
This video highlights the key differences between GAAP, the Generally Accepted Accounting Principles, and IFRS, the International Financial Reporting Standards.
Differences between GAAP and IFRS
OPTIONAL: Inventory Valuation9:28
This video covers the impact of different inventory valuation methods on the income statement and balance sheet. It also covers the concept of lower cost of or net realizable value.
Inventory Valuation Calculations

Introduction to Cash Flow7:03
This video introduces the concept of cash flow and its importance in decision-making.
Cash Flow Statement13:25
This video breaks down the three activity types on the cash flow statement and analyzes Amazon and Apple's Q3 cash flow statements.
Free Cash Flow Exercise
Time Value of Money6:25
This video explains the time value of money.
Net Present Value6:22
This video introduces the concept of net present value and discounted cash flow.

Requirements

No financial knowledge required. This is an introductory course!

Description

By the end of this course, you will not only understand how to read and analyze the three types of financial statements, but you will know the applications of this beyond work and school. The purpose of this course is to acquit you with knowledge that can prepare you for the many instances in which you will require an understanding of finance and financial statements.

Finance is an industry you will undoubtedly come across, and this course is designed to prepare you for that. I made this course because I believe in the art of simplification. I hope you enjoy it as much as I did when creating.

The learning objectives of the course are as follow:

Understand the purposes and types of financial statements
Navigate SEC's EDGAR database and learn about the 8k, 10q, and 10k
Define the purposes of the Generally Accepted Accounting Principles and the International Financial Reporting Standards and identify their role in finance and accounting
Identify the types of line items on the balance sheet, income statement, and cash flow statement
Explain the financial metrics and ratios used to gauge the financial position of a company
Conduct and follow variance analyses of companies using Excel

Who this course is for:

High school and post-secondary students interested in business pathways

Financial Statements Explained

What you'll learn

Explore related topics

Course content

Introduction to the Course2 lectures • 5min

Introduction to Financial Statements and GAAP2 lectures • 11min

Balance Sheet3 lectures • 19min

Income Statement3 lectures • 22min

Financial Ratios5 lectures • 18min

Accounting Standards3 lectures • 13min

Cash Flow Statement4 lectures • 33min

RECAP1 lecture • 1min

Requirements

Description

Who this course is for: