FinanceXplained
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Financial Statements & Performance Analysis
Available Online
The first upcoming dates or use "All Dates"

English 29 & 30 November 2021 - ONLINE Training (Price: 1340 Euro )
Dutch 9 & 10 December 2021 - Marriott Hotel BE- GHENT (Price: 1460 Euro )
Dutch 10 & 11 February 2022 - Pillows Grand Hotel Reylof BE - Ghent (Price: 1460 Euro )
English 30 & 31 May 2022 - Agoria Bluepoint Brussels BE - Brussels (Price: 1460 Euro )
Ask us a question about this course or request In-Company information


PROGRAM OUTLINE for this 2 day course in English

A thorough insight into the annual accounts is extremely important in order to decipher the actual state, the results, the creditworthiness, and the price valuation on the markets.

Develop in 2 days these crucial insights

  1. Develop a systematic approach of analysis with absolute figures and in percentages.
  2. Make decisions about the creditworthiness, solvency, price valuation, its performance and make comparisons with comparable companies.
  3. Draw up management recommendations to adjust financial performance, avoid potential risks and increase profits.
  4. Evaluate the growth of equity compared to (market) expectations.
  5. Determine how solvent the company is and its debt ratio.
  6. Analyse the impact of tangible and intangible assets.
  7. How well is treasury managing liquidity; is there enough working capital and what is the operational efficiency.
  8. What is the best indicator for profit? The profit for the financial year, EBIT or EBITDA, and what are the differences?
  9. How much profit evaporates due to interest liabilities?
  10. Are the operational cash flows growing in line with expectations?
  11. How much does the company invest in its future?
  12. How does the company finance itself and what is the reward for the shareholders of the risk taken?
  13. How to calculate the return on capital and the return on equity.
  14. What does a downward trend in the return on sales mean?
  15. How does management see the future performance and growth of the market?
  16. What are the average market expectations for small, medium, and large companies?
  17. Where does the company position itself in relation to its competitors?
  18. Understand why listed companies maintain two sets of accounts.
  19. Learn the difference between the national accounting practices (GAAP) versus IFRS.

 

The course and the learning outcome

In these two days we take you through the annual accounts of a listed international company and learn, step by step, the importance of this report and the strengths and weaknesses of the company.

Participants will learn how to read and interpret income statements, balance sheets, and cash flow statements. By understanding these three principal financial reports, you will be able to conduct advanced analysis of your own or an external organisation financial performance. You will also learn the major financial ratios and their application, which reveals the relationships that exist between various items of information within the accounts.

  • The nature of financial statements and the accounting methods (GAAP & IFRS)
  • How a company's business and financing activities are reflected in its financial statements?
  • The components of financial statements, namely the balance sheet, the income statement and the cash flow statement.
  • The distinction between cash flow and profits and the importance of the three documents.
  • How to use the statements to forecast future performance.
  • How to measure operating, investing and financial performance using ratios.
  • Analyse the different types of profitability ratios.
  • Understand the liquidity and solvency of the organisation.
  • Learn how well the operations are efficient.
  • Review and interpret the key impacts of the "Notes of the Accounts". 

 

You will be able to appreciate the strategic context behind modern financial statement analysis, gain practical and intuitive insights through accounting analysis into what is going on in the accounts and how to interpret them.  Understand through practical financial analysis how to analyse accounts through ratio, cash flow, and liquidity analysis.  Develop the ability to look into the future through financial statement forecasting and gain an understanding of how all these pieces of the puzzle fit together.

 

Recommended background

This course is designed for all professionals directly or indirectly involved with financial reports, analysis and decision making internally or externally. You could be working either as a new recruit or as experienced staff with new responsibilities, wanting to broaden your perspectives by adding the financial statements, ratio analysis and wider management skills.

Course format (Residential and Online)

This course will be taught using a combination of formal instructions, combined with practical and interactive exercises and case studies used to reinforce the concepts taught in each section of the course.   Practice-based learning and critical engagement is a key theme through all our courses allowing delegates to acquire the needed skills and techniques to be applied as soon as they are learned and developed.

 

Syllabus

Day 1:

 

  Financial Statements Introduction

  • Introducing the key source of information for stakeholders of the organisation and the importance of them.
  • Learn the importance of the management commentary
  • The balance sheet: content & structure and the linkages.
  • The income statement: content & structure and the linkage with the balance sheet.
  • Cash flow statement: The importance and creation and evaluation of the cash flow statement.   
  • Evaluation of the notes on the accounts and audit report.

 

  Introduction to our Case Study

  • The case study is used throughout the 2-day presentation assessing the full complexity of an annual report. 
  • After each topic participants apply the techniques learned and put them into practise.  

 

  The Nature of Financial Statements

  • Who needs financial statements and analysis of the external stakeholders?
  • The reporting to external stakeholders

 

  The Balance Sheet

  • Learn how the balance sheet is structured.
  • Critical analysis of the items
  • Analysis of Current and Non-Current assets
  • Analysis of Tangible and Non tangible items

 

  The Income Statement

  • Learn the structure of the income statement
  • Determine what is recorded in the income statement
  • Analyse the different levels of profit
  • Assumptions and their impact.

 

  The Cash Flow statement

  • What is cash Flow
  • What is reported in the cash flow statement
  • How is a cash flow statement organised?
  • Cash flow from operating activities
  • Cash flow from investing activities
  • Cash flow from financing activities

 

Day 2:

 

  Ratio and performance analysis an Introduction

  • Interpreting the figures and business trends as provided in the balance sheet, the income statement and the cash flow statement.
  • Who needs and why do we need ratio's
  • Ratio historical analysis, peer and industry comparison

 

  Evaluation and analysis of profitability ratios

  • Profitability ratio's introduction
  • Return on sales (ROS) and analysis of efficiency
  • Asset utilisation ratio (AUR) and analysis of effectiveness
  • Return on capital employed (ROCE) and profitability performance assessment

 

  Liquidity and Solvency

  • Determine the sources offFinance
  • Liquidity introduction
  • The use of the current ratio
  • The use of the quick ratio and difference
  • Working capital and the importance of managing working capital 
  • Solvency
  • Leverage and gearing
  • Asses the capital employed in a business

 

  Operating Efficiency

  • Learn about the cycle of production
  • Creditor days and what is acceptable 
  • Stock days and managing inventory
  • Trade receivable days and managing the number of days

 

  Investor Ratio's

  • Return on equity
  • Pay-out ratio
  • Interest cover
  • Earnings per share
  • Residual Income

 

  A critical review and conclusion on our case

  •  Advantages and limitations of ratio's

 

 

All Course Dates

 

LANGUAGE: English

When: 29 & 30 November 2021

Where: ONLINE , Training, Course
Financial Statements & Performance Analysis in: English

Timing: From 09:00 till 17:00
Price: 1340 Euro  (VAT Exclusive)
Early booking discount: A 10%  discount will be applied if you register before or on 30/09/2021


LANGUAGE: Dutch

When: 9 & 10 December 2021

Where: Marriott Hotel Korenlei 10, 9000 BE- GHENT, Belgium
Inzicht in de Jaarrekening & Analyse van de Performantie in: Dutch

Timing: From 09:00 till 17:00
Price: 1460 Euro  (VAT Exclusive)
Early booking discount: A 10%  discount will be applied if you register before or on 10/10/2021


LANGUAGE: Dutch

When: 10 & 11 February 2022

Where: Pillows Grand Hotel Reylof Hoogstraat 36, 9000 BE - Ghent, Belgium
Inzicht in de Jaarrekening & Analyse van de Performantie in: Dutch

Timing: From 09:00 till 17:00
Price: 1460 Euro  (VAT Exclusive)
Early booking discount: A 10%  discount will be applied if you register before or on 12/12/2021


LANGUAGE: English

When: 30 & 31 May 2022

Where: Agoria Bluepoint Brussels Boulevard Auguste Reyers 80, 1030 BE - Brussels, Belgium
Financial Statements & Performance Analysis in: English

Timing: From 09:00 till 17:00
Price: 1460 Euro  (VAT Exclusive)
Early booking discount: A 10%  discount will be applied if you register before or on 31/03/2022






Participant feedback

  • A very structured training and I have taken a lot out of it. It was very practical; I learned many techniques and most important the financial concepts and method of analysis. I rate this course 100%.
  • The announced financial results to the market are indeed not always what they seem! I learn a systematic approach to detect what is really going on and where the company is heading for. Thanks a lot!   
  • The trainer responded to the different needs of the participants. Perfect examples and he helped us to think about how we can best tackle the issues.
  • The training provided a clear insight into the possibilities and pitfalls when analyzing financial statements and the annual report. Gaining insight into the techniques was uttermost valuable for the job I'm doing.
 

Learn the way that suits you most!

Course Lecturers



Maureen Whitehead-Lausman, MBA

19 years associate lecturer in Financial Strategy and Corporate Strategy for a triple accredited global business school. 20 years’ experience developing and delivering training programs for large and medium sized companies including in Germany, China, USA, Singapore, Ethiopia, South Africa, Russia and Romania. Corporate finance, value based management and finance for non-financial managers at middle and senior management level are a particular interest.  


Mag. Johannes Hofinger, MBA, FRM

Johannes Hofinger is specialized in Risk Management, Basel III, IFRS and regulatory reporting. His professional skills are reinforced by strong academic roots. He lectures for global business schools in corporate finance, managerial accounting and financial reporting. The main roles undertaken are lecturing, consulting and project management.  


OUR INTERNATIONAL EXPERIENCE

Books we studied for you



International Financial Statement Analysis Workbook (CFA Institute Investment Series)
International Financial Statement Analysis Workbook (CFA Institute Investment Series)

To enhance your understanding of the tools and techniques presented in International Financial Statement Analysis, pick up the International Financial Statement Analysis Workbook. This companion study guide contains carefully constructed problems with detailed solutions as well as concise learning outcome statements and summary chapter overviews  


Financial Statements: Analysis and Reporting - Felix I. Lessambo
Financial Statements: Analysis and Reporting - Felix I. Lessambo

Through a mixture of concepts and examples, this book demystifies the variety of elements of financial accounting and uncovers the need-to-know information for certification in this field. This book covers the two aspects of financial statement analysis, namely quantitative and non-quantitative analysis. Concluding with helpful case studies, the book will appeal to students and academics of financial accounting.  


Financial statement analysis workbook - Martin S Fridson, Fernando Alvarez
Financial statement analysis workbook - Martin S Fridson, Fernando Alvarez

The companion Workbook to Financial Statement Analysis, Fourth Edition Whether you're evaluating a company's stock price, assessing its credit quality, or determining valuations for a merger or acquisition, deciphering the messages embedded within a company's financial statements is critical, especially after the recent financial crisis.  




Companies who attended our courses

 

 
AG Insurance
Allianz Benelux
Argenta NV
AXA Belgium
Baloise Insurance
Banca Monte Paschi Belgio S.A.
Bank De Groof
Banking Association (Kosovo)
Belfius Investment Partners
BNP Paribas Fortis
Bpost Bank
Buy Way
CBC Bank
Cegeka
Celio Finance SPRL
Credendo
Delen Private Bank
Delta Lloyd Life
Deutsche Bank AG
DKV Belgium
Ethias SA
Euler Hermes Services
Euroclear Bank SA/NV
Euroclear Investments
Europ Assistance
European Investment Bank - EIB (Luxembourg)
European Union - EDFIMC / ElectriFI
Flanders Investment & Trade
Gras Savoye Belgium
Incofin Investment Management
ING Bank België
KBC Bank
Mastercard
Ministry of European Integration (Kosovo)
National Bank of Belgium
NN Insurance Belgium
Petercam
Record Bank
Société Générale Private Banking
SWIFT
The Royal Bank of Scotland (RBS)
Triodos Bank
VGD International -Audit & Tax
Wolters Kluwer Financial Services
Zurich Insurance plc, Belgium branch
Vanbreda International
 
 
 
Afton Chemical SPRL
Air Liquide
Allnex Belgium SA/NV
ANL Plastics
Ansell
ARC EUROPE SA
Arcelor Mittal ( Belgium & Luxembourg)
Axalta Coating Systems 
BASF Antwerpen
BASF Belgium Coordination Center
Beaulieu International Group
Bekaert
Borealis Polymers NV
Bridgestone Europe SA
CNH Industrial Belgium NV
Cofely Fabricom
Cytec Belgium
DOMO Chemicals (Germany)
Donaldson
Dow Corning
Electrolux Appliances AB - EMA- EMEA (SEE)
Engineered Pressure Systems International
European Owens Corning Fiberglas
Fost Plus
GDF Suez
Griffith Foods
Hamon & Cie
Heraeus Electro-Nite International NV
Jacobs Belgium
KODAK SA/NV
Milliken Europe
Niko Group
NXP Semiconductors - Prodis  (Netherlands)
SOLVAY
SPX Cooling Technologies
Synventive Molding Solutions (Germany)
TERUMO EUROPE
Tessenderlo
Vinçotte International
VPK Packaging Group NV
WABCO
Yara Belgium NV
 
 
 
 
 
Antwerp World Diamond Centre
AVEVE Biochem NV
Carrefour Belgium
Delhaize Corporate Group
Godiva
IKEA 
 
Abbott Logistics B.V. (Netherlands)
AbbVie (Canada)
Agfa HealthCare NV
Alcon
Alcon-Couvreur
Amplifon
AZ Sint-Blasius
Baxter International (Austria)
Catalent Pharma Solutions
CinnaGen (Tehran)
Datwyler Pharma Packaging International
Groep OZ ESV
Hologic
Landelijke Christelijke mutualiteit (LCM)
Mutualités Libres: MLOZ
Novartis Pharma
SA Bristol- Myers Squibb Belgium NV
Stryker (Netherlands)
Terumo BCT Europe NV
UCB
Zorgbedrijf Antwerpen
 
 
 
AW Europe
Belgacom
Belgian Nuclear Research Centre (SCK-CEN)
CISCO
Corelio Printing
De Persgroep Publishing nv
EDF Luminus
Elia System Operator
Engie Electrabel NV/SA
Eni Gas & power
Fluxys Belgium
INFRABEL
Itineris NV
KEYRUS
M-Team
NRB
ORANGE
Proximus
Siemens
Telenet
 
 
Agentschap Innoveren en Ondernemen
Europees Parlement
Ministry of European Integration
National Agency for Protection of Personal Data
Nationale Loterij
SD Diensten NV (SD Worx)
SESAR Joint Undertaking
Stad Antwerpen
Stadsbestuur Harelbeke
Syntra Brussel
UGent - FBW
Vrije Universiteit Brussel (VUB)
 
 
 
Acturus sprl
ARC Europe
BDO 
BIA Africa
Bia Overseas
Brooser BE Operations 
Capgemini
Cipal Schaubroeck
Compass-Group
Computacenter
Computer Task Group
Deloitte Accountancy
Egemin International
Enhesa International
FIS (former Clear2Pay)
Interel Group
K&L Gates
Matexi NV
Minds&More
Pricewaterhouse Coopers
PwC Tax Consultants
Securex
Toreon
Vinçotte International sa
 
 
 
Alcopa
Alstom Belgium
ARC Europe 
Brussels Airport Company
De Lijn
D'Ieteren Auto
EUROCONTROL 
Gemeentelijk Havenbedrijf Antwerpen
Globachem nv
GSC Greensea Chartering 
HONDA Motor Logistics
JBT
Neovia Logistics
NMBS
PSA Antwerp nv
Retail & Wholesale
Seatrade Reefer Chartering
Thalys International
Trimble T&L
Volkswagen Group Services
Wallenius Wilhelmsen Logistics Zeebrugge NV
Westlandia
Witzenmann Benelux nv
 
 
 

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