1. Financial Accounts Introduction an overview of the primary financial statements and how they interact.  Fundamental accounting concepts with a focus on matching / accruals.  WE review the 4 ‘categories’ of financial transactions – Assets, liabilities. Income, expenditure.

2. Exercises on the accounting ‘flow’ a downloadable set of 3 exercises that guide you through the links of financial transactions into the P&L and Balance sheet

3. Focus on Cash Flows with a review of the structure of cash flow statements and how to reconcile the information to what is shown in the P&L. Another Excel exercise gives you the opportunity to continue building the complete picture of the links between the P&L, Cash Flow and balance sheet.

4. Income Statement analysis this module starts off with a simple ‘breakdown’ of the different layers of profit (Gross, Operating, pre-tax, Net) and some non-official definitions such as EBITDA, and then starts to go into the matching concept in more detail – for example, looking at revenue recognition, CoGS and key non-cash items.

5. Balance Sheet overview we start off with a broad overview of the valuation concepts (Cost or Value?) and then start the treatment and review of Current Assets, and into Non-Current (including Intangibles) and Liabilities (debt). The slightly more blurred topic of Provisions is covered. Of course, there are excel exercises to work through and follow.

6. Accounting for Leases We look at some ‘bigger’ slightly more advanced issues now – starting with Lease accounting and how accounting rules can be used to ensure companies do not hide financial obligations by keeping them ‘off balance sheet’.

7. Pension obligations Another significant area of analysis is company obligations relating to post-retirement payments (pensions and healthcare) How are these measured and treated and how does it impact on the P&L, Cash flow and Balance sheet?

8. JVs, Associates and Subsidiaries Section 8 turns to how inter-group ownership is defined and treated in the statements, covering treatment of investments, JVs, Associate companies and Subsidiaries.  This will introduce a deeper understanding of Non-controlling Interests (NCI) and Goodwill and its treatment.

9. Cleaning up the P&LFor analysis and forecasting it is common practice to ‘clean up’ a set of financial statements to remove non-recurring / unusual items (ones that either will not recur or will be hard to forecast due to their nature).  This practical session sets the scene, asks you to have a go on a set of financials and then reviews the results.  It’s a good way to finish off the program, pulling together all aspects of what you have learned along the way, with a focus on the P&L.