Finance Fundamentals: From Statements to Valuation

About this course

This course takes you from never having opened an annual report to building a simple valuation you can defend. Every lesson works from real-world style statements, so the skills carry straight into a job, an investment decision or your own business. No prior finance knowledge needed; comfort with basic spreadsheets helps.

What you’ll work through

1. Part 1Reading the three statements4 lessons, 1h 3m

   • How the income statement tells the story of a year14 min
   • The balance sheet: what you own, what you owe16 min
   • The cash flow statement and why profit isn't cash18 min
   • How the three statements connect15 min
2. Part 2Ratios that tell the truth4 lessons, 50m

   • Profitability: margins that matter12 min
   • Liquidity and solvency13 min
   • Efficiency: how hard assets work11 min
   • Ratios that mislead, and how to spot them14 min
3. Part 3Cash is king3 lessons, 48m

   • Free cash flow from first principles16 min
   • Working capital: the hidden cash drain14 min
   • Building a simple cash forecast18 min
4. Part 4Valuing a business: DCF and comparables3 lessons, 51m

   • Time value of money and discount rates15 min
   • Your first discounted cash flow model22 min
   • Valuation by comparables14 min

Your tutor