Advanced Financial Statements Analysis
Read beyond the headline numbers: analyse performance, cash quality, balance-sheet risk and accounting choices in IFRS statements.
- 5 days
- Classroom · Live virtual · In-house
- Afriskora Certificate of Completion
Course overview
Lenders, investors, regulators and boards all depend on financial statements, yet the warning signs are often buried in the notes. This course builds the analytical skills to assess profitability, liquidity, solvency and cash-flow quality, adjust reported figures for aggressive accounting, and compare companies across sectors and African markets. Participants work through annual reports of listed companies and state-owned entities.
Who should attend
- Credit and investment analysts
- Finance managers and financial controllers
- Auditors and regulators
- Board and audit committee members
What you will be able to do
- Analyse profitability, efficiency, liquidity and solvency with confidence
- Assess the quality and sustainability of earnings and cash flows
- Identify aggressive accounting and disclosure red flags
- Normalise and compare companies across sectors and currencies
- Write a clear, evidence-based credit or investment opinion
Course outline
Day 1The statements and how they connect
- • Linking the income statement, balance sheet and cash flow
- • Key IFRS judgements that shape the numbers
- • Reading the notes and segment information
- • Common-size and trend analysis
Day 2Performance and returns
- • Margin and return analysis (ROE, ROCE, DuPont)
- • Working-capital efficiency
- • Revenue recognition under IFRS 15
- • Comparing peers across markets
Day 3Cash flow and earnings quality
- • Operating cash flow versus profit
- • Accruals and earnings management
- • Capital expenditure and free cash flow
- • Hyperinflation and currency effects
Day 4Balance-sheet risk
- • Debt, leases (IFRS 16) and off-balance-sheet exposure
- • Impairment and expected credit losses
- • Provisions and contingent liabilities
- • Solvency and covenant analysis
Day 5Forming an opinion
- • Red flags and forensic indicators
- • Normalising earnings for valuation and credit
- • Writing the analyst's report
- • Case study: a state-owned enterprise in distress
Frequently asked questions
How long is the Advanced Financial Statements Analysis course?
The course runs for 5 days. Daily start and finish times are confirmed in your joining instructions. Live virtual sessions cover the same programme.
Do I receive a certificate?
Yes. Every participant who completes the course receives an Afriskora Certificate of Completion with a unique code that employers can verify online.
Can this course be delivered in-house for our team?
Yes. We can run it at your premises or online for your team, on dates that suit you, and adapt examples and case studies to your sector.
How do I book and pay?
Request dates and we'll send available sessions and a quote. Bookings are confirmed by invoice and paid by EFT. South African clients can include the course in their Workplace Skills Plan.
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