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Financial Statement Applications

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3.9

Based on 12 ratings

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Michael Rybak

This course is designed for students to develop an advanced financial analysis skill set. Throughout this course, students will be exposed to various quantitative tools and qualitative methods to determine the financial health and risk of selected U.S. public companies. The skills developed in this course will have direct application to credit analysis, financial analysis, and investment analysis.

Pre-Requisites: N/A

Required Textbook: International Financial Statements Analysis (4th Edition)

Software Requirements: Word, Excel, PowerPoint

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What's inside

Syllabus

Module 1: Course Introduction and U.S. GAAP Framework

Welcome to Financial Statement Applications! This module allows students to build a foundational understanding of basic accounting concepts essential for financial analysis, delve into the accrual process under U.S. GAAP, and learn the steps of the accounting transaction process. Furthermore, the course clarifies how journal entries are effectively posted to the chart of accounts and subsequently reflected in financial statements, establishing a solid base for more advanced financial studies.

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Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Develops the advanced financial analysis skill set needed for credit analysis, financial analysis, and investment analysis

Taught by Michael Rybak, an instructor recognized for their work in the topic that the course teaches

Teaches how to use quantitative tools and qualitative methods to determine the financial health and risk of selected U.S. public companies

Uses the International Financial Statements Analysis textbook, often used in industry and in academic settings

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Reviews summary

Practical financial statement applications

According to learners, this course provides a comprehensive and practical deep dive into financial statement analysis, widely praised for its clear instruction and real-world applicability. Students consistently highlight the instructor's ability to simplify complex financial concepts and the useful Excel exercises that facilitate hands-on learning. While the course offers a solid foundation for roles in credit, financial, and investment analysis, some suggest that a prior accounting background is beneficial despite the stated prerequisite. Recent reviews indicate the instructor has been responsive to feedback, making updates that further enhance the learning experience. Overall, it's a highly recommended course for career-focused individuals.

Beneficial to have basic accounting background despite prerequisites.

"Despite the 'N/A' prerequisite, it definitely helps if you have some basic accounting knowledge coming in."

"I struggled a bit with the pace and some explanations without a strong accounting background."

"I felt more comfortable with concepts having some prior finance classes, so I think a basic understanding helps."

Instructor actively updates content based on feedback.

"The instructor updated some parts recently, making it even better and more relevant to current practices."

"I appreciate the instructor's responsiveness on the forum and their continuous efforts to enhance the course."

"It's great to see the course evolve; the instructor seems to be taking past feedback seriously to improve."

Provides a wide-ranging understanding of financial statements.

"It offers a comprehensive overview of financial statements, with excellent deep dives into cash flow analysis."

"The course solidified my understanding of financial health and risk, covering everything from GAAP to solvency."

"I found the detailed modules on profitability analysis and inventory valuation surprisingly useful and thorough."

Focuses on real-world financial analysis skills.

"The practical Excel applications were invaluable for applying ratios and analysis techniques."

"This course prepared me exceptionally well for my job in credit analysis; the skills are directly applicable."

"I gained concrete skills to analyze company financials effectively and apply them immediately at work."

Instructor excels at simplifying complex financial topics.

"The instructor is outstanding, consistently breaking down complex topics into easily digestible modules."

"The instructor is superb, making complex concepts understandable and engaging."

"I found the instructor's explanations spot on, making even difficult topics like earnings manipulation clear."

Pacing varies; some learners desired more advanced content.

"While a solid foundation, some modules felt a bit rushed, and I wished for more in-depth case studies."

"The content was good but felt basic in certain areas if you already possess prior finance knowledge."

"I was hoping for more advanced quantitative methods; some explanations could have gone deeper for my level."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Financial Statement Applications with these activities:

Tutorial on using financial ratios for analysis

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Develop a strong foundation in using financial ratios to analyze and assess a company's financial health and performance.

Browse courses on Financial Ratios

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Identify and define key financial ratios used in financial analysis.
Learn how to calculate and interpret these ratios to gain insights into a company's profitability, liquidity, solvency, and efficiency.
Explore the limitations of financial ratio analysis and strategies to mitigate these shortcomings.

Practice inventory valuation formulas

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Gain proficiency in applying inventory valuation formulas to accurately assess a company's inventory and cost of goods sold.

Browse courses on Inventory Valuation

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Review the four inventory valuation methods recognized under U.S. GAAP: FIFO, LIFO, Average Cost, and Specific Identification.
Apply the general inventory valuation formula to analyze a company's inventory and cost of goods sold.
Understand the implications of a LIFO liquidation.
Calculate and compare the results of different inventory valuation methods on a company's profitability, asset values, and after-tax cash flows.

Group discussion on cash flow analysis

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Engage in peer discussions to deepen your comprehension of cash flow analysis and its significance in financial management.

Browse courses on Cash Flow Analysis

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Identify and discuss the three primary sections of the statement of cash flows: operating activities, investing activities, and financing activities.
Analyze and interpret key cash flow metrics such as EBITDA and free cash flow.
Identify and discuss the limitations of cash flow analysis.
Present the findings and insights gained from the group discussion.

One other activity

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Presentation on the impact of earnings manipulation

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Enhance your understanding of earnings manipulation techniques and equip yourself with skills to detect and analyze their impact on financial statements.

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Research and identify common earnings manipulation techniques
Develop a presentation that explains these techniques and their impact on financial statements
Present the findings to your peers or instructors

Career center

Learners who complete Financial Statement Applications will develop knowledge and skills that may be useful to these careers:

Financial Analyst

Financial Analysts study financial data to make informed investment decisions for their clients. They provide insights into a company's financial health and performance, helping clients make profitable investment decisions. The Financial Statement Applications course provides a solid foundation in financial analysis tools and techniques, including ratio analysis, cash flow analysis, and profitability analysis. These skills are essential for understanding financial statements and making informed investment decisions, making this course highly relevant for aspiring Financial Analysts.

See salaries and explore the career path for Financial Analyst

Credit Analyst

Credit Analysts assess the creditworthiness of individuals and businesses to determine their ability to repay borrowed funds. They use financial analysis techniques to evaluate the financial health and risk of potential borrowers. The Financial Statement Applications course provides a deep dive into financial analysis tools and techniques, including financial ratio analysis and cash flow analysis. These skills are essential for understanding and interpreting financial statements, making this course a valuable asset for aspiring Credit Analysts.

See salaries and explore the career path for Credit Analyst

Investment Banker

Investment Bankers advise companies on mergers and acquisitions, capital raising, and other financial transactions. They use financial analysis techniques to evaluate the financial health and risk of potential clients and to develop financial models to support their recommendations. The Financial Statement Applications course provides a comprehensive overview of financial analysis tools and techniques, including financial ratio analysis, cash flow analysis, and profitability analysis. These skills are essential for understanding financial statements and making informed investment decisions, making this course highly relevant for aspiring Investment Bankers.

See salaries and explore the career path for Investment Banker

Portfolio Manager

Portfolio Managers oversee investment portfolios for their clients, making investment decisions based on financial analysis and market research. They use financial analysis techniques to evaluate the financial health and risk of potential investments. The Financial Statement Applications course provides a thorough understanding of financial analysis tools and techniques, including financial ratio analysis, cash flow analysis, and profitability analysis. These skills are essential for understanding financial statements and making informed investment decisions, making this course a valuable asset for aspiring Portfolio Managers.

See salaries and explore the career path for Portfolio Manager

Auditor

Auditors examine financial records to ensure their accuracy and compliance with regulations. They use financial analysis techniques to identify potential errors or irregularities in financial statements. The Financial Statement Applications course provides a solid foundation in financial analysis tools and techniques, including financial ratio analysis and cash flow analysis. These skills are essential for understanding and interpreting financial statements, making this course a valuable asset for aspiring Auditors.

See salaries and explore the career path for Auditor

Financial Planner

Financial Planners help individuals and families plan for their financial future. They use financial analysis techniques to assess their clients' financial needs and develop personalized financial plans. The Financial Statement Applications course provides a comprehensive understanding of financial analysis tools and techniques, including financial ratio analysis, cash flow analysis, and profitability analysis. These skills are essential for understanding financial statements and making informed financial decisions, making this course a valuable asset for aspiring Financial Planners.

See salaries and explore the career path for Financial Planner

Accountant

Accountants prepare and examine financial records to ensure their accuracy and compliance with regulations. They use financial analysis techniques to identify potential errors or irregularities in financial statements. The Financial Statement Applications course provides a solid foundation in financial analysis tools and techniques, including financial ratio analysis and cash flow analysis. These skills are essential for understanding and interpreting financial statements, making this course a valuable asset for aspiring Accountants.

See salaries and explore the career path for Accountant

Budget Analyst

Budget Analysts develop and manage budgets for organizations. They use financial analysis techniques to forecast revenue and expenses, and to identify areas where spending can be optimized. The Financial Statement Applications course provides a comprehensive understanding of financial analysis tools and techniques, including financial ratio analysis, cash flow analysis, and profitability analysis. These skills are essential for understanding financial statements and making informed financial decisions, making this course a valuable asset for aspiring Budget Analysts.

See salaries and explore the career path for Budget Analyst

Financial Consultant

Financial Consultants provide financial advice to individuals and businesses. They use financial analysis techniques to assess their clients' financial needs and develop personalized financial plans. The Financial Statement Applications course provides a comprehensive understanding of financial analysis tools and techniques, including financial ratio analysis, cash flow analysis, and profitability analysis. These skills are essential for understanding financial statements and making informed financial decisions, making this course a valuable asset for aspiring Financial Consultants.

See salaries and explore the career path for Financial Consultant

Tax Accountant

Tax Accountants prepare and file tax returns for individuals and businesses. They use financial analysis techniques to identify potential tax deductions and credits. The Financial Statement Applications course provides a solid foundation in financial analysis tools and techniques, including financial ratio analysis and cash flow analysis. These skills are essential for understanding financial statements and making informed tax decisions, making this course a valuable asset for aspiring Tax Accountants.

See salaries and explore the career path for Tax Accountant

Forensic Accountant

Forensic Accountants investigate financial fraud and other financial crimes. They use financial analysis techniques to identify and analyze evidence of financial wrongdoing. The Financial Statement Applications course provides a solid foundation in financial analysis tools and techniques, including financial ratio analysis and cash flow analysis. These skills are essential for understanding financial statements and identifying potential financial fraud, making this course a valuable asset for aspiring Forensic Accountants.

See salaries and explore the career path for Forensic Accountant

Management Consultant

Management Consultants advise businesses on how to improve their operations and performance. They use financial analysis techniques to evaluate a company's financial health and to identify areas where improvements can be made. The Financial Statement Applications course provides a comprehensive understanding of financial analysis tools and techniques, including financial ratio analysis, cash flow analysis, and profitability analysis. These skills are essential for understanding financial statements and making informed business decisions, making this course a valuable asset for aspiring Management Consultants.

See salaries and explore the career path for Management Consultant

Risk Analyst

Risk Analysts assess the potential risks facing businesses and organizations. They use financial analysis techniques to identify and mitigate financial risks. The Financial Statement Applications course provides a solid foundation in financial analysis tools and techniques, including financial ratio analysis and cash flow analysis. These skills are essential for understanding financial statements and identifying potential financial risks, making this course a valuable asset for aspiring Risk Analysts.

See salaries and explore the career path for Risk Analyst

Data Analyst

Data Analysts use data to identify trends and patterns, and to make informed decisions. They use financial analysis techniques to analyze financial data and to identify potential investment opportunities. The Financial Statement Applications course provides a solid foundation in financial analysis tools and techniques, including financial ratio analysis and cash flow analysis. These skills are essential for understanding financial data and making informed investment decisions, making this course a valuable asset for aspiring Data Analysts.

See salaries and explore the career path for Data Analyst

Business Analyst

Business Analysts use data to analyze business processes and to identify areas where improvements can be made. They use financial analysis techniques to evaluate a company's financial health and to identify areas where improvements can be made. The Financial Statement Applications course may provide a useful overview of financial analysis tools and techniques, including financial ratio analysis and cash flow analysis. These skills may be helpful for understanding financial data and making informed business decisions.

See salaries and explore the career path for Business Analyst

Reading list

We've selected seven books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Financial Statement Applications.

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The Little Book of Picking Top Stocks

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Provides a practical guide to financial statement analysis, with a focus on helping readers identify and interpret key financial metrics. It valuable resource for students who want to develop their financial analysis skills.

The Little Book of Picking Top Stocks: How to Spot...

The Little Book of Picking Top Stocks: How to Spot...

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Wiley 2022 Interpretation and Application of IFRS...

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Provides a comprehensive overview of the International Financial Reporting Standards (IFRS). It valuable resource for students who want to learn about the accounting standards that are used in countries around the world.

Wiley 2022 Interpretation and Application of IFRS...

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Essentials of Financial Management

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This textbook provides a comprehensive overview of financial management. It valuable resource for students who want to gain a deeper understanding of the course material.

Essentials of Financial Management

Essentials of Financial Management

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Fundamentals of Corporate Finance

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This textbook provides a comprehensive overview of corporate finance. It valuable resource for students who want to gain a deeper understanding of the course material.

Wall Street Journal Edition, Standard Edition

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The Portable MBA in Finance and Accounting

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This textbook provides a comprehensive overview of financial management. It valuable resource for students who want to gain a deeper understanding of the course material.

The Portable MBA in Finance and Accounting

The Portable MBA in Finance and Accounting

The Portable MBA in Finance and Accounting

The Portable MBA in Finance and Accounting

Essentials of Investments

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This textbook provides a comprehensive overview of investments. It valuable resource for students who want to gain a deeper understanding of the course material.

Essentials of Investments

Essentials of Investments

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Crimes of the Powerful and the Contemporary...

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Provides a comprehensive overview of financial analysis and reporting. It valuable resource for students who want to gain a deeper understanding of the course material.

Crimes of the Powerful and the Contemporary...

Crimes of the Powerful and the Contemporary...

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Rating

3.9

Effort

85 hours to complete

Level

Introductory

Via

Coursera

Institution

Illinois Tech

Instructor

Michael Rybak

Language

English

Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Develops the advanced financial analysis skill set needed for credit analysis, financial analysis, and investment analysis

Taught by Michael Rybak, an instructor recognized for their work in the topic that the course teaches

Teaches how to use quantitative tools and qualitative methods to determine the financial health and risk of selected U.S. public companies

Uses the International Financial Statements Analysis textbook, often used in industry and in academic settings

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