Corporate Finance Analyst — Financial Statement Analysis

• Description: Investigate the intricacies of analyzing financial statements of companies with complex corporate structures, including subsidiaries, joint ventures, and variable interest entities (VIEs). Understand the principles of consolidation, minority interest, and intercompany transactions. Analyze the impact of different consolidation methods on the overall financial picture. - Resources/Activities: - Expected Outcomes: Understanding of how to navigate complex corporate structures, interpreting consolidated financial statements effectively, and recognizing the potential impact of consolidation methods on financial ratios and performance.

Beyond the Basics - Description: Explore advanced cash flow analysis techniques, including free cash flow (FCF) modeling, cash flow forecasting, and the use of cash flow statements for valuation purposes. Analyze the quality of earnings by comparing net income to cash flow from operations (CFO) and identifying potential manipulations. - Resources/Activities: - Expected Outcomes: Mastery of cash flow modeling techniques, ability to assess the quality of earnings, and a deeper understanding of how to use cash flow statements for valuation, investment decisions, and financial analysis.

• Description: Learn how to use financial statement analysis to identify fraud, earnings manipulation, and other forms of financial misreporting. Examine common red flags, analytical techniques, and fraud detection methodologies. Explore techniques to evaluate management credibility and risk. - Resources/Activities: - Expected Outcomes: Ability to identify red flags in financial statements, assess the likelihood of fraud, and understand the analytical techniques used in forensic accounting. Enhanced ability to identify risks associated with management actions.

• Description: Focus on the use of financial statement analysis for credit risk assessment. Analyze a company's ability to service its debt obligations, identify potential credit defaults, and assess credit ratings. Learn about different credit scoring models and how to use them. - Resources/Activities: - Expected Outcomes: Ability to assess credit risk, perform debt capacity analysis, and understand the methodologies used in credit rating. Development of strong ability to evaluate companies' ability to service their debt.

Discounted Cash Flow and Relative Valuation - Description: Apply financial statement analysis to valuation techniques, including discounted cash flow (DCF) and relative valuation methods. Estimate intrinsic value based on future cash flow projections and compare a company's valuation to its peers. - Resources/Activities: - Expected Outcomes: Ability to perform company valuation based on DCF and relative valuation methods, and generate an overall valuation based on financial statement analysis.

• Description: Integrate the learned skills into the broader context of investment decision-making and corporate strategy formulation. Learn to communicate findings effectively and make informed recommendations. Consider the relationship between financial statements, business strategy, and overall financial health of a company. - Resources/Activities: - Expected Outcomes: Ability to integrate financial statement analysis into investment decisions and corporate strategy. Ability to articulate findings persuasively. Mastery of communication skills as they relate to financial statement analysis.