Introduction to Finance, Accounting, Modeling and Valuation
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Introduction to Finance, Accounting, Modeling and Valuation

Learn Finance & Accounting from Scratch by an Award Winning MBA Professor, Ivy Grad, worked @ Goldman & VC
Bestselling
4.6 (1,358 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
12,946 students enrolled
Last updated 8/2017
English
English
Current price: $40 Original price: $200 Discount: 80% off
30-Day Money-Back Guarantee
Includes:
  • 4.5 hours on-demand video
  • 6 Articles
  • 14 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Analyze and understand an income statement (even if you have no experience with income statements).
  • Analyze and understand a balance sheet (even if you have no experience with balance sheets).
  • Analyze and understand a cash flow statement (even if you have no experience with cash flow statements).
  • Understand and use modeling best practices so you can create financial models.
  • Know where to get data in order to build a financial model (in depth understanding of identifying and using/navigating the best free websites and sources to build your financial model)!
  • Create a financial model (projecting the future) for an income statement.
  • Create a financial model (projecting the future) for a balance sheet.
  • Create a financial model (projecting the future) for a cash flow statement.
  • Understand valuation best practices so you can create target prices based on your financial models.
  • How to use Discounted Cash Flow (DCF) and how to create the Weighted Average Cost of Capital and Terminal values in order to pick target prices.
  • How to use P/E in order to pick target prices.
  • How to use P/R in order to pick target prices.
  • Other valuation methodologies, including EV/Sales, EV/EBITDA, P/B, EV/FCF, etc.
  • Come up with a target price based on an average of several different valuation methodologies.
  • Analyze the total addressable market for a company you are doing research on.
  • Analyze financial statements using profitability ratios: Gross Margin (Cost of Goods Sold / Revenue), Operating Margin (EBITDA/ Revenue), Net Profit Margin (Net Income / Revenue), Return on Assets (Net Income / Assets) and Return on Equity (Net Income / Equity).
  • Analyze financial statements using debt and inventory formulas: Debt to Assets (Total Liabilities/ Total Assets), Debt to Equity (Total Liabilities/ Total Equity), Interest Coverage Ratio (EBITDA / Interest) and Inventory Days on Hand (Inventory / Cost of Good Sold) * 365.
  • Analyze and compare companies using the following formulas: Price / Earnings, PEG (P/E / Growth), Price / Revenue, EV/EBITDA, EV/Sales, Price/Free Cash Flow and Price / Book.
  • We will do an extremely in depth professional accounting, finance, modeling and valuation analysis of LinkedIn using the accounting and finance methodologies used in this course (you will also have many exercises to complete that will help you understand accounting, finance, valuation and modeling).
View Curriculum
Requirements
  • You don’t need to have any accounting or finance experience as we will cover all of the concepts from scratch. A requirement is that you have access to and a very basic understanding of how to use Microsoft Excel as we will use Microsoft Excel in the course as we will be analyzing and creating a Balance Sheet, Income Statement and Cash Flow Statement. We will also learn how to create the following from scratch using Microsoft Excel: financial models so we can come up with target prices using Discounted Cash Flow, the Weighted Average Cost of Capital, Price to Earnings, Price to Revenue, etc. – again all from scratch (assuming you have no or some accounting/finance knowledge).
Description

** ACCORDING TO BUSINESS INSIDER: "Haroun is one of the highest rated professors on Udemy, so you can expect to be in good hands through the course of your education." **  He is the author of the best selling business course on Udemy this year called 'An Entire MBA in 1 Course'

This course will help you understand accounting, finance, financial modeling and valuation from scratch (no prior accounting, finance, modeling or valuation experience is required).

After taking this course you will understand how to create, analyze and forecast an income statement, balance sheet and cash flow statement. 

By the end of his course you will also know how to value companies using several different valuation methodologies that I have used during my Wall Street career so you can come up with target prices for the companies that you are analyzing.

By the end of this course you will also know how to analyze financial statements using many different financial ratios/formulas that I have used in my hedge fund, Goldman Sachs and venture capital career.

Lastly, I am teaching this course in a much more visual and entertaining way; I hope you  enjoy the course as I always use an 'edutainment' and visualization teaching approach to make complex topics simple/easy to understand. 

Please note that if you already signed up for my course called "Hedge and Mutual Fund Careers: The Complete Guide," some of the accounting and finance topics in this course were already covered in the Hedge and Mutual Fund Careers: The Complete Guide course.

Thanks

Who is the target audience?
  • Anyone interested in how accounting works (no prior accounting experience is needed).
  • Anyone interested in how finance works (no prior finance experience is needed).
  • Anyone interested in how modeling works (no prior modeling experience is needed).
  • Anyone interested in how valuation works (no prior valuation experience is needed).
  • Anyone interested in how financial ratios works (no prior financial ratios experience is needed).
Curriculum For This Course
61 Lectures
04:21:01
+
Course Introduction
1 Lecture 03:43

This course is for:

  • anyone interested in how accounting works (no prior accounting experience is needed).
  • anyone interested in how finance works (no prior finance experience is needed).
  • anyone interested in how modeling works (no prior modeling experience is needed).
  • anyone interested in how valuation works (no prior valuation experience is needed).
  • anyone interested in how financial ratios works (no prior financial ratios experience is needed).
Preview 03:43
+
Accounting Part 1 of 3: Income Statement Analysis
5 Lectures 18:41

Why is the income statement important and how can it help you achieve your goals? Once you understand the income statement, balance sheet and cash flow statements (all explained in this course), then we can move on to the modeling and then the valuation section of this course. 

Preview 01:53

An explanation of the income statement (assumes you have no experience with this topic). 

Preview 03:56

An example of an income statement (attached is an excel version of this statement). 

Income Statement Example and Analysis
08:48

Please find attached the income statement exercise. The instructions for the exercise are listed on the first tab in the attached Excel spreadsheet. When you have completed the exercise, please watch the next lecture for an explanation of the answers. Thanks

Income Statement Analysis Exercise
01:07

A discussion of the income statement exercise results. 

Income Statement Analysis Exercise Answers Explanations
02:57
+
Accounting Part 2 of 3: Balance Sheet Analysis
5 Lectures 15:31

Why is the balance sheet important & how can it help you achieve your goals? Once you understand the income statement, balance sheet and cash flow statements (all explained in this course), then we can move on to the modeling and then the valuation section of this course. 

Why is the Balance Sheet Important & How Can It Help You Achieve Your Goals
01:10

An explanation of the balance sheet (assumes you have no experience with this topic). 

Preview 02:04

An example of a balance sheet (attached is an excel version of this statement). 

Balance Sheet Example and Analysis
08:39

Please find attached the balance sheet exercise. The instructions for the exercise are listed on the first tab in the attached Excel spreadsheet. When you have completed the exercise, please watch the next lecture for an explanation of the answers. Thanks

Balance Sheet Analysis Exercise
00:59

A discussion of the balance sheet exercise results. 

Balance Sheet Analysis Exercise Answer Explanations
02:39
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Accounting Part 3 of 3: Cash Flow Statement Analysis
6 Lectures 15:06

Why is the cash flow statement important & how can it help you achieve your goals? Once you understand the income statement, balance sheet and cash flow statements (all explained in this course), then we can move on to the modeling and then the valuation section of this course. 

Why is the Cash Flow Statement Important+How Can It Help You Achieve Your Goals
01:25

An explanation of the cash flow statement (assumes you have no experience with this topic). 

Cash Flow Statement Explanation
02:08

An example of a cash flows statement (attached is an excel version of this statement). 

Cash Flow Statement Example and Analysis
06:34

Please find attached the cash flow statement exercise. The instructions for the exercise are listed on the first tab in the attached Excel spreadsheet. When you have completed the exercise, please watch the next lecture for an explanation of the answers. Thanks

Cash Flow Statement Analysis Exercise
00:34

A  discussion of the cash flow statement exercise results. 

Cash Flow Statement Analysis Exercise Answer Explanations
02:08

How are the cash flow statement, balance sheet and income statement connected? 

Preview 02:17
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Financial Modeling Part 1 of 4: Introduction and Best Practices
2 Lectures 07:17

Why is financial modeling important & how can it help you achieve your goals? Now that we understand how to analyze and create an income statement, balance sheet and cash flow statement, we can project the aforementioned financial statements. Once we are finished with the 4 valuation sections, then we will learn how to come up with the appropriate target prices for companies we are doing research on. 

Preview 02:04

Please find attached a 1 page document containing 25 of my modeling and valuation best practices. Thanks

Financial Modeling Best Practices
05:13

Financial Modeling Introduction & Best Practices Quiz
5 questions
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Financial Modeling Part 2 of 4: Where Do I Get Historical Data From?
5 Lectures 29:57

An introduction to 3 crucial (and free) sources where we can get data to create our financial model forecasts. 

Why is Investor Relations+SEC.Gov Important & How Can It Help Me Build Models?
01:46

What is investor relations and how can the investor relations function help us to better understand companies we are considering investing in? 

Introduction to Investor Relations (A Great Model Data Source)
11:01

All investors can now get access to information at the exact same time. This lecture will explain exactly where to get this information and how to navigate several online documents, including the 10-K, 10-Q, S-1 IPO filings etc. 

SEC.gov is Another Great Model Resource
07:07

I used to pay thousands of dollars per month/year for Bloomberg access. I will teach you how to get almost all of that information for free!

Yahoo Finance is Also a Great Model Resource
05:28

Learn what a quarterly earnings call is and how it can help you understand investment ideas better. 

What Quarterly Earnings Call & Why Is It Important for Modeling Purposes?
04:35

Financial Modeling Data Sources Quiz
6 questions
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Financial Modeling Part 3 of 4: Case Study: Building a Model for LinkedIn
6 Lectures 49:03

This section is an extremely in depth overview of how I analyze LinkedIn (ticker: LNKD), including creating financials, forecasting financials and several different valuation methodologies, including discounted cash flow (DCF), P/E, P/R, terminal value calculation, weighted average cost of capital calculation, total addressable market analysis and more. 

Preview 01:55

How can I research what a company does? What are the best resources?

Qualitative Analysis on LinkedIn
02:22

How do I calculate the size of the total addressable market for LinkedIn's products, what does this mean and why is this important when analyzing a company or creating a financial model? 

What is the Total Addressable Market for LinkedIn and Why is this Important?
06:10

This lecture explains how to navigate and set up a professional financial model. 

Preview 04:15

Please open the attached PDF of the LinkedIn earnings press release before viewing this lecture. Thanks

LinkedIn Model Discussion in More Detail (Historical Data Only)
17:47

Basics on how to forecast the income statement, cash flow statement and balance sheet for my LinkedIn model. 

Forecasting the LinkedIn Model
16:34
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Financial Modeling Part 4 of 4: Financial Model Exercise
3 Lectures 14:32

An introduction to financial modeling (used so we can come up with target prices for the companies we analyze). 

Financial Modeling Exercises Introduction
00:51

Please find attached the financial modeling exercise. The instructions for the exercise are listed on the first tab in the attached Excel spreadsheet. When you have completed the exercise, please watch the next lecture for an explanation of the answers. Thanks

Financial Modeling Exercise
03:33

An in depth discussion of the answers to the financial modeling exercise. "Learn to read financial statements like a good book!"

Modeling Exercise Answer Explanations
10:08
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Valuation Part 1 of 6: Introduction and Best Practices
3 Lectures 05:45

Now that we know how to create and model financial statements, we can learn how to value companies based on the financial statements that we created. 

Introduction to Valuation
01:18

It is crucial that we understand what kind of investors we are or work for as growth investors value companies in different ways than value investors do. 

Preview 04:21

Please find attached the 25 Valuation and Modeling Best Practices PDF. Thanks

25 Valuation and Modeling Best Practices
00:06

Exercise: Valuation Best Practices Quiz
3 questions
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Valuation Part 2 of 6: Discounted Cash Flow (DCF)
7 Lectures 55:01

What does discounted cash flow (DCF) mean and why is it important to helping us value companies? How can we create a DCF? 

Preview 06:17

What is the terminal value and why is it crucial for us in order to value a company based on discounted cash flow analysis?

Calculating the Terminal Value
02:42

How can we calculate what rate to discount our future cash flows at? We will discuss the cost of equity and the cost of debt as part of the W.A.C.C. (weighted average cost of capital) for our target price analysis. 

Calculating the Weighted Average Cost of Capital (WACC)
06:23

An example of DCF valuation applied to my LinkedIn model. 

DCF Example
07:44


Please find attached the DCF exercise. The instructions for the exercise are listed on the first tab in the attached Excel spreadsheet. When you have completed the exercise, please watch the next lecture for an explanation of the answers. Thanks

DCF Exercise
01:57

An extremely in depth discussion of the DCF valuation exercise from the previous lesson (part 1 of 2). 

Preview 19:27

An extremely in depth discussion of the DCF valuation exercise from the previous lesson (part 2 of 2). 

DCF Exercise Answer Explanations Part 2 of 2
10:31
7 More Sections
About the Instructor
Chris Haroun
4.5 Average rating
20,251 Reviews
162,059 Students
40 Courses
Award Winning MBA Professor, Venture Capitalist and Author.

** Chris teaches full-time on Udemy; he is the author of the #1 best selling business course on Udemy called "An Entire MBA in 1 Course," which has been purchased by more than 120,000 students in 11 languages in 196 countries.**  He has also published 29 other courses on Udemy.

** According to Business Insider  "Haroun is one of the highest rated professors on Udemy, so you can expect to be in good hands through the course of your education." **

Chris is also the author of the book "101 Crucial Lessons They Don't Teach You in Business School," which Business Insider wrote is "the most popular book of 2016 according to Business Insider readers." In 2015 Forbes called this book "1 of 6 books that all entrepreneurs must read right now."

Chris is also the founder and CEO of Haroun Education Ventures, which has 3 areas of focus: 

1: Online Business Education & Self Development Courses through his subsidiary Udemy publishing platform called "Complete Business Education," 

2: Education Charities and 

3: Edtech Venture Capital.

In addition he is an award winning business school professor, MBA graduate from Columbia University and former Goldman Sachs employee. He has raised/managed over $1bn in his career.

Chris is passionate about educational charities and he is on the board of directors of several tech companies and ‘The Lemo Foundation’, which offers scholarships and mentoring to East Palo Alto students where the high school graduation rate is only 40%. He is also on the board of Providing Opportunities for Women (P.O.W.) which was founded by a few of his business school students. 

He also has work experience at hedge fund giant Citadel, consulting firm Accenture & several firms that he has started, including an investment firm that had a venture capital investment in Facebook several years before the Facebook IPO.

He is a frequent lecturer at several Bay Area business schools including Berkeley, Stanford, The Hult International School of Business and San Francisco State University. Chris also has an undergraduate degree with a major in Management Information Systems and International Business from McGill University where he is a McGill University Dobson Fellow (awarded for his work mentoring McGill students with venture capital start up business models).

Chris has written numerous articles and has been interviewed or profiled in Forbes, Business Insider, Entrepreneur Magazine, VentureBeat, Wired Magazine, AlleyWatch and several television, podcast and radio interviews, including one with Radio Television Hong Kong (RTHK) which is Hong Kong's oldest and sole public service broadcaster. He has his own entrepreneurship column in Inc. magazine.

Chris Haroun's goals are:

1: Access: To help make education accessible and affordable to every person in every country (and without firewalls) by investing in disruptive edTech companies through his company (Haroun Education Ventures).

2: Give: If you work for a charity, Chris is more than happy to give you all of his online business and self development courses for free to every employee at every charity in the world; simply send him a LinkedIn message and he will send you coupons for all of his courses at 100% off. Please include your charity email address in the LinkedIn message (for example, name@charity.org).

3: Edutainment: His passion is to "make business education impactful and entertaining with no boring theory; edutainment works!"

Chris is very passionate about education, education related charities and edTech start-ups/companies as he believes that all problems in the world can be solved via education; please see his recent TEDx Talk on this topic. He lives in Hillsborough, California with his wife Christine and 3 sons who are also passionate about baseball…especially the Toronto Blue Jays! : ) 

Complete Business Education with Chris Haroun
4.5 Average rating
20,251 Reviews
162,059 Students
40 Courses
Publisher of Business and Professional Development Training

Complete Business Education (CBE) with Chris Haroun provides engaging and high quality business and professional development courses for individuals looking to sharpen their business skills and accelerate their careers.  

CBE courses on Udemy have over 130,000 students in 196 countries, including 11 language versions of the highest selling business course on Udemy, called An Entire MBA in 1 Course. 

CBE brings you courses that are affordable, current, entertaining and based on practical work experience instead of theory so that you can immediately apply the concepts taught and take your career to the next level.