What You Will Learn:
- Analyzing Financial Statements
- Understanding Financial Modeling Best Practices
- GAAP to Non GAAP Reconciliation
- Restating the Income Statement
- Identifying Revenue Drivers
- Assessing Cost Drivers
- Understanding Operating Leverage
- Forecasting Revenue and Operating Cost
- Forecasting Income Statement and Balance Sheet
- Balancing the Financial Model
- Calibrating Estimates with Consensus
- Using Scenario Analysis
Students will learn the different methods of analyzing financial statements, including how to use financial ratios effectively to identify possible anomalies in company financial statements.
Students will learn the best practices to adopt to minimize the potential for errors when building an earnings model. Key concepts include a discussion on financial model structure and formula complexity.
Students will learn the common non-recurring items reported by companies, as well as how to identify such items in company filings, and adjust for them to derive the recurrent earnings for the company.
Students will be taken through the steps of restating the income statement reported in a company filing to a standardized format that allows for the calculation of EBITDA and recurrent earnings.
Students will learn the importance of identifying detailed drivers for revenue for companies operating in various industries. The course also includes a case study for students to identify revenue drivers for an assigned company.
Students will learn the importance of identifying detailed drivers for the operating costs for companies operating in various industries. The course also includes a case study for students to identify cost drivers for an assigned company.
Students will be taken through the basics of operating leverage, as well as the methods that could be adopted to understand the cost structure of a company. In addition, students will learn how the factors driving revenue growth could impact the earnings of the company.
Students will be taken through a simple two-step approach to lessen the complexities of forecasting the earnings for a company. In addition, students will be provided general guidelines on information to research for the purpose of arriving at defensible forecasts.
Students will learn how to analyze, model, and forecast key line items in the income statement and balance sheet, such as working capital, property and equipment, intangible assets, borrowings, and share repurchases.
Students will learn the step-by-step process by which they can balance any financial model. This 11-step process can also be used to critique and identify errors in a financial model that prevent it being balanced.
Students will learn the importance of calibrating their own forecasts with those of consensus, and how to source the data for consensus and broker-specific estimates.
Students will learn the importance of conducting a scenario analysis, as well as building a detailed scenario analysis sheet in and earning model template.
|Approximate Hours of Study**|
|Hours of Study||15 hours|
|Question Format||Multiple Choice|
|Questions Per Quiz||30 questions|
|Enrolment Period||6 months|
Continuing Education (CE) Credits
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