The Complete Financial Statement Analysis Course

Learn how the best investors read financials, search SEC filings for key information, and perform financial analysis!
4.4 (8 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.
834 students enrolled
Instructed by Andrew Li Business / Finance
$150
Take This Course
  • Lectures 37
  • Length 3 hours
  • Skill Level Beginner Level
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
Wishlisted Wishlist

How taking a course works

Discover

Find online courses made by experts from around the world.

Learn

Take your courses with you and learn anywhere, anytime.

Master

Learn and practice real-world skills and achieve your goals.

About This Course

Published 1/2017 English

Course Description

Ever wonder how the world’s most successful investors (such as Warren Buffett, David Einhorn, or Jim Chanos) are so successful? It’s because they employ industry leading financial statement analysis skills to root out opportunities.


A lot of courses simply teach you how to perform a few financial ratios. That’s important, but it is only a small part of successful financial statement analysis. True financial statement analysis requires in-depth reading, research, and other analytical strategies that will give you a real investing edge.


I will teach you the tricks of the trade that many successful investors use on a daily basis. By the end of this course you will learn how to read and analyze a company’s SEC filings like a pro!


If you want to be a successful Financial Analyst, Investor, Investor Relations Manager, Private Equity Analyst, Investment Banker, Hedge Fund Analyst, or Sell Side Research Analyst, then this course will is perfect for you!


3 BIG reasons why you should take this course:

  • Great future: There is always a need for financial analysts to perform research.
  • Big money: A financial analyst role typically leads to a high paying career ($100,000+).
  • Manage your own investments: Achieve long-term wealth by managing your own stock portfolio.


What makes this the best financial statement analysis course out there?

  • Knowledgeable instructor: I have a Bachelor’s degree in accounting and finance. I have years of equity research experience where I have provided detailed financial statement analysis services to many blue chip hedge funds.
  • Complete training: This course contains the main topics you will need to be a successful financial analyst and analyze financials. Unlike most courses, our training will include a walk-through of how to read SEC filings and what information to look out for.
  • Real world examples: The course contains many real world case studies. Everything you learn will be applicable RIGHT AWAY towards you career or investing goals.
  • Excellent support: If you don’t understand a concept or simply want to ask a question, you’ll receive an answer as soon as possible.
  • Industry tricks and tips: You will learn many of the industry’s best tricks and tips to be successful. Some of these strategies are not well known to even veterans.  You will find strategies to get an informational edge over other investors.  


Don’t forget, this course comes with Udemy’s 30-day unconditional money-back full guarantee! If you don’t learn anything from the course, return it and get your money back.

What are the requirements?

  • Absolutely NO experience/understanding of financial statements or accounting is required. We will start from the basics towards more advanced topics.
  • You will need a notebook and pen/pencil.

What am I going to get from this course?

  • Understand the mechanics of financial statements (balance sheet, income statement, and statement of cash flow).
  • Understand key earnings ratios including earnings-per-share (EPS).
  • Calculate profitability metrics and how to properly analyze them.
  • Calculate activity and turnover ratios.
  • Understand the components of return on assets and return on equity.
  • Understand the key ratios used to evaluate liquidity, solvency, and leverage.
  • Use key valuation metrics (P/E, EV/EBITDA, P/B, P/S, etc) to determine how cheap or expensive a stock is.
  • Understand the key financial filings US companies file with the Securities and Exchange Commission (SEC).
  • Navigate through financial statements like the back of your hand.
  • Understand how to read 10-K/10-Q filings and what sections to watch out for.
  • Interpret and understand audit opinions.
  • How to read 8-K filings and learn how to search for important information.
  • Read and analyze Proxy Statements and Form 4 filings.
  • Understand how to interpret and analyze quarterly results.
  • Evaluate company guidance.
  • Know the importance of non-GAAP results and metrics.
  • Understand importance of Conference Calls and related presentations.
  • Understand and calculate various key performance indicators for a number of industries.
  • Navigate the SEC EDGAR database to search for filings and other information.
  • Perform financial statement analysis.
  • Understand where to look to dig up information about a company.

Who is the target audience?

  • People who want a successful career (or get ahead) in investing, finance, or accounting.
  • Business professionals who want to enrich their knowledge of finance and financial analysis.
  • Beginning investors who want to manage their own portfolio of stocks.
  • Aspiring students who want to major in finance or enter the field.
  • Aspiring financial analysts, investor relation managers, private equity analysts, investment bankers, traders, hedge fund analysts, and sell side equity research analysts.

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Course Introduction
02:21

An introduction to the course. We will discuss the important topics the course will cover. 

Section 2: Financial Statement Overview
07:18

An introduction to the financial statements. We will learn what information is contained in the Balance Sheet, how it is prepared, and how accounts are classified. We will also take a look at Costco's Balance Sheet as a case study. 

06:37

An introduction to the Income Statement. We will learn how information is classified and presented on the Income Statement. We will also review Costco's Income Statement as a case study. 

07:49

We will learn how the Statement of Cash Flows is presented and why cash transactions are categorized into certain groups. Finally, we'll take a look at Costco's Statement of Cash Flows. 

Section 3: Ratio Analysis
03:09

Evaluating a Company's share count is key in financial analysis. We will learn the difference between basic and diluted shares. After that, we will understand how to calculate a Company's earnings on a per-share basis (EPS). 

04:21

We will go over the key profitability metrics used to analyze a business. We will understand how to compare and analyze changes in profitability. 

03:17

To further our understanding of profitability analysis, we go through a Costco excel case study.

04:57

We will learn how to use activity/turnover analysis to assess how well a business is using its assets. 

03:41

An excel case study outlining the activity/turnover metrics we learned in the prior lecture video.

03:55

An excel case study on the return on assets (ROA) metric. We will understand how to evaluate the returns a Company's assets generate. 

05:27

An excel case study on return on equity (ROE). We will understand how to evaluate the returns a Company generates with its equity. 

05:38

We will learn how to evaluate a Company's liquidity to determine the risk of a cash shortfall or bankruptcy.

Further, we will go over the most popular leverage ratios to assess bankruptcy risk. 

03:40

Learn the most popular metrics used to value Companies. You will learn to evaluate how cheap or expensive a business is based on a number of metrics. 

Valuation Ratios and Metrics (Part 2)
03:28
Section 4: How To Read Key SEC Filings
07:37

A comprehensive overview of the key filings public U.S. companies file with the SEC. Our discussion will start off with the Company's annual report filed with the SEC (Form 10-K). We will discuss why the 10-K is important reading material and what information to look out for. We will also discuss some effective 10-K reading tips. Finally, the lecture will include various case study walk-throughs. 

Reading and Analyzing the 10-K Part 2
06:38
Reading and Analyzing the 10-K Part 3
04:36
Reading and Analyzing the 10-K Part 4
05:26
Reading and Analyzing the 10-K Part 5
Preview
04:00
Reading and Analyzing the 10-K Part 6
05:15
Reading and Analyzing the 10-K Part 7
07:21
Reading and Analyzing the 10-K Part 8
04:54
04:30

We will review what important information is included in a Company's quarterly report with the SEC (Form 10-Q). 


04:51

Learn how and why Companies disclose key information through the current report (Form 8-K). 

We will go over several tips and tricks to extract key information that many do not know from the 8-K filings. The lecture will include plenty of real life examples from Costco. 

05:29

Learn what information is included in the Company's Proxy Statement (Form DEF-14A) and how to properly read this document. 

05:00

A continuation of our last Proxy Statement lecture video. We will take a look at Costco's Proxy Statement and discuss the key components. 

03:48

We will learn about the importance of Form 4 filings and how to read them.

04:12

This is a continuation of our Form 4 series. We will go through several case studies and look through/read Form 4 documents together.

Section 5: Analysis of Quarterly Results And KPIs
05:17

We will learn the importance of quarterly results, including what key information to watch out for. 

We will discuss:

  • How to evaluate earnings surprises
  • How to interpret Company-provided guidance metrics
  • How to evaluate guidance surprises
  • The important of non-GAAP metrics
04:12

A look at several quarterly results filings by different companies. 

02:42

Learn how Earnings Conference Calls are structured and how to extract key information from them. 

04:28

Learn about key performance indicators for various industries. These are important metrics to know for any investor and financial analyst. 

Key Performance Indicators You Need to Know Part 2
03:11
Section 6: BONUS Lectures
08:48

Learn how to augment your investing/financial research with powerful FREE tools.

BONUS Lecture # 2
05:22
BONUS Lecture # 3
04:23
BONUS Lecture # 4
04:45

Students Who Viewed This Course Also Viewed

  • Loading
  • Loading
  • Loading

Instructor Biography

Andrew Li, Equity Research Analyst

Hi, my name is Andrew. I received my b.s. in accounting and finance magna cum laude. I currently work as an equity research analyst performing financial statement analysis for some of the world's most well-known hedge funds. Financial statement analysis is one of my passions and I'm lucky to do it on a daily basis. My goal is to teach others about the wonderful world of accounting and finance so they can achieve their business goals. 

Ready to start learning?
Take This Course