Financial Statement Analysis

Exam Questions: 100
Course Level: Basic
Pages: 400 | Content: 368, Supplemental: 32
NASBA Area of Study: Accounting
Not Acceptable for: Enrolled Agents
Version: 8105

This course will serve as your guide to interpreting and unpacking GAAP and non-GAAP financial statements. It provides the analytical framework you need to scrutinize a company's financial statements. You'll learn practical and straightforward techniques for uncovering the reality behind the numbers in a financial statement. This course includes current information relevant to today's volatile markets and uncertain economy. PLEASE NOTE: Not accepted for Enrolled Agents. All course material provided. No prerequisites. Course level: Basic.

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Course Information

Table of Contents
  • The Adversarial Nature of Financial Reporting
  • The Balance Sheet
  • The Income Statement
  • The Statement of Cash Flows
  • What Is Profit?
  • Revenue Recognition
  • Expense Recognition
  • The Applications and Limitations of EBITDA
  • The Reliability of Disclosures and Audits
  • Mergers-and-Acquisitions Accounting
  • Is Fraud Detectable?
  • Forecasting Financial Statements
  • Credit Analysis
  • Equity Analysis
  • To recall the characteristics of the Sarbanes-Oxley Act of 2002
  • To identify the basis for valuing nonfinancial assets
  • To recall the ways in which management can boost sales through techniques that qualify as corporate finance
  • To recognize the financial planning requirements of public companies
  • To identify the costs that should be deducted when calculating bona fide profits
  • To recall the characteristics of Bristol-Myers Squibb's financial reporting gimmicks
  • To recall the types of accounting scandals associated with Diamond Foods, Nortel Networks, and General Motors
  • To identify the items included in William Beaver's definition of cash flow
  • To recognize the criticisms associated with the Wirecard audit
  • To recall the requirements of Financial Accounting Standard No. 141
  • To recall the fallout from the Enron scandal
  • To identify the steps in the financial forecasting process
  • To identify various ratios used in financial statements
  • To recognize the simplified version of the valuation formula

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.