Financial Statement Analysis Professional Program
Learning to read financial statements properly takes time. Most people look at numbers without understanding what drives them or why they matter. We've built this program around that reality.
Over nine months, you'll work through real company reports, spot warning signs that analysts miss, and build skills that matter when evaluating businesses. Our autumn 2025 intake focuses on practical analysis rather than theory you'll never use.
You won't become an expert overnight. But you will understand how to assess financial health, compare competitors meaningfully, and ask better questions about business performance.
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How The Program Builds Your Skills
Each module connects to the next. We start with fundamentals and gradually add complexity as you get comfortable with basic concepts.
Foundation Reading
8 weeksMost people skip straight to ratios without understanding what they're actually measuring. We don't do that. You'll spend two months learning to read the three core statements properly.
- What balance sheets actually show (and what they hide)
- Income statement patterns that signal problems
- Cash flow statement basics that matter
- How accounting choices affect reported numbers
By week eight, you should be able to pick up any annual report and understand the story it's telling.
Ratio Analysis
10 weeksRatios mean nothing without context. We teach you which ones matter for different industries and how to spot when numbers look suspicious.
- Profitability metrics that reveal efficiency
- Liquidity ratios that predict cash problems
- Leverage analysis for debt assessment
- Operating efficiency indicators
You'll work through case studies where companies with decent ratios still failed. Understanding why matters more than memorizing formulas.
Comparative Assessment
8 weeksComparing companies sounds simple until you realize they report things differently. This module teaches you to adjust for those differences.
- Industry-specific benchmarks that matter
- Adjusting for different accounting methods
- Seasonal business patterns
- Size and scale considerations
You'll analyze competing businesses in the same sector and learn why raw comparisons often mislead.
Risk Identification
10 weeksThe final module focuses on what can go wrong. You'll learn to spot early warning signs in financial data before problems become obvious.
- Cash flow versus profit disconnects
- Working capital deterioration patterns
- Aggressive revenue recognition
- Footnote analysis for hidden liabilities
We use real examples of companies that collapsed despite clean audits. Learning to question the numbers matters as much as calculating them.
Who Teaches This Program
Both instructors have analyzed thousands of companies over the years. They've seen patterns repeat and watched businesses succeed or fail based on financial decisions.
Freya Lindström
Freya spent twelve years evaluating companies for institutional investors. She's particularly good at explaining why accounting standards matter and how different industries manipulate their numbers legally. Her module on cash flow analysis changed how I look at quarterly reports completely.
Siobhan Rafferty
Siobhan worked in corporate restructuring before teaching. She's seen what happens when companies ignore warning signs in their financials. Her approach focuses on practical assessment rather than academic theory. Students say her case studies feel uncomfortably real because they are.
Real Reports Only
You'll work with actual published financial statements from ASX-listed companies. No simplified examples or sanitized case studies. Real data means real complexity and genuine learning.
Weekly Discussion
Tuesday evening sessions let you talk through what you're finding with other participants. Sometimes their questions reveal things you missed. The collaborative analysis often matters more than solo work.
Written Analysis
Each module requires a written assessment of a company you choose. Articulating what you found and why it matters builds analytical clarity. You'll submit four detailed reports throughout the program.