Fundamentals of Financial Reporting

with Antoniya Baltova

This course is designed to equip you with the knowledge and skills necessary to effectively read, analyze, and interpret financial statements. You will learn to confidently navigate the complex world of financial reporting, evaluate a company's financial health, identify potential risks, and make strategic financial decisions.

7 hours 61 lessons
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61 High Quality Lessons
3 Practical Tasks
7 Hours of Content
Certificate of Achievement

Course Overview

True and fair financial reports are crucial for the financial operations of companies from all industries. They provide valuable business performance information to a wide range of stakeholders, including the firm’s internal management and external investors. In the Fundamentals of Financial Reporting course, you will learn how to read, understand, and analyze the core financial statements (Income Statement, Balance Sheet, Statement of Changes in Equity, and Cash Flow Statement) and the supplementary financial information (Management Discussions and Analysis, Audit Reports, Notes to the Financial Statements, etc.) published in the Annual Report of a company. We examine the key aspects of revenue and expense recognition, learn how to calculate EPS and DEPS, distinguish between operating and non-operating components of the Income Statement, and much more. The Fundamentals of Financial Reporting course covers the specifics of the major current and non-current assets and liabilities and how to evaluate a company’s liquidity and solvency positions. You will learn to construct a Cash Flow Statement in Excel, convert cash flows from the Indirect to the Direct method, and the difference between Free Cash Flow to the Firm (FCFF) and Free Cash Flow to Equity (FCFE). We also introduce the concept of “quality” of financial reporting and discuss the possible motivations for low-quality financial reports, the Fraud Triangle, and the most common accounting warning signs. Sign up now to master your financial reporting skills and take you finance career to the next level!

Topics covered

Financial AccountingFinancial ReportingIFRSInvestment Analysis

What You'll Learn

In The Fundamentals Financial Reporting course, we examine various aspects of financial reporting and analysis, including:

The importance of financial reporting standards and the quality of published financial information
The IASB Conceptual Framework for Financial Reporting
Financial reporting and measurement basis for the main Balance Sheet elements
Profitability measures at different Income Statement levels
Preparing Cash Flow Statements under the direct and indirect methods
Common-size analysis, accounting warning signs, and fraud motivations


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This course gives a detailed orientation of financial accounting. Though I have done some of the basic in my bachelor, details explanation given here with practical example helps me to clear some confusion I have previously.
Excellent overview of financial statements! It's updated with recent adoption of reporting standards. Essential course for CPA.
Hard to navigate from course to exams. Reaction time of application is lacking. Timed exams does not allow for learning.
The Course is very well thought out. The tutor is very engaging... almost feels you're in the classroom with her
every time I have to change the playback speed. it should be fixed. course is nice.
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Antoniya Baltova

“Being able to understand the financial statements of a company means that you can read the story of its business operations.”

Antoniya Baltova

Chief Financial Officer at 365

Fundamentals of Financial Reporting

with Antoniya Baltova

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