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Advanced Financial Statement Analysis

The Investor's Guide to Interpreting the Numbers

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Course overview

Warren Buffett Said it Best:

"Accounting is the language of business, and it's an imperfect language, but unless you are willing to put in the effort to learn accounting - how to read and interpret financial statements - you really shouldn't select stocks yourself."


If you don't know how to analyze financial statements, this 3-week course is here to help.


We'll show you how to find, read, and interpret financial statements like a seasoned pro.


These skills will make you a better investor and accelerate your career.

Who is this course for

01

Intermediate Investors who want to learn how to interpret financial statements like a professional analyst.

02

Executives and professionals who want to level-up their financial analysis skills.

03

Entrepreneurs who want to see their business through the eyes of an investor.

What you’ll get out of this course

Analyze financial statements - fast

Learn how to read an income statement, balance sheet, and cash flow statement in minutes to make quick decisions.

Identify Yellow & Red Flags

Spot warning signs in financial statements that can reveal trouble on the horizon.

Calculate & Interpret Ratios

Learn how a few simple calculations will empower you to analyze financial statements in minutes.

Identify Valuation Creation

Some businesses create value as they grow. Others destroy it. We'll teach you how to identify the difference.

Master the Business Growth Cycle

Learn the six stages of the business growth cycle and how to tell which phase a company is in.

Profitability Analysis

Master the differences between Free Cash Flow, Net Income, EBITDA, NOPAT, and Owner Earnings.

Capital Allocation Analysis

A CEO's #1 job is capital allocation. Learn how to use ratios such as Return on Invested Capital (ROIC), Return on Assets (ROA), and Return on Equity (ROE) to ensure they are doing a good job.

What’s included

Live sessions

Learn directly from Brian Feroldi & Brian Stoffel in a real-time, interactive format.

Lifetime access

Go back to course content and recordings whenever you need to.

Community of peers

Stay accountable and share insights with like-minded professionals.

Certificate of completion

Share your new skills with your employer or on LinkedIn.

Maven Guarantee

This course is backed by the Maven Guarantee. Students are eligible for a full refund up until the halfway point of the course.

Course syllabus

Week 1

Mar 4—Mar 10

    📺 Prework #1 - How to Analyze Unprofitable Businesses

    • 📄

      📺 How to Analyze Unprofitable Businesses Webinar

    📺 Prework #2 - Warren Buffett's Rules of Thumb

    • 📄

      📺 Warren Buffett's Rules of Thumb Webinar

    📚 Introduction to the course

    • 📄

      Course Overview and Q&A

    🔎 Financial Statement Fast Analysis Boot Camp - Self-paced lessons

    We'll start by covering the balance sheet in detail. We'll teach you how to analyze it quickly, calculate useful ratios, and practice spotting yellow & red flags.

    • 📄

      Balance Sheet - 🔎 Fast Analysis

    • 📄

      Income Statement - 🔎 Fast Analysis

    • 📄

      Cash Flow Statement - 🔎 Fast Analysis

    🔎 Fast Analysis - Boot Camp Review

    • 📄

      Boot Camp Review

Week 2

Mar 11—Mar 17

    Business Cycle - 🔎 Analysis

    We kick off week 2 by discussing the six stages of the business growth cycle. We'll cover how to tell which stage a business is currently in and the key metrics in each stage.

    • 📄

      Business Cycle - 🔎 Analysis

    Survival 🔎 Analysis

    Next, we'll talk about how to analyze companies that are currently losing money, how they will raise capital, and the key metrics for investors to watch.

    • 📄

      Survival 🔎 Analysis

    Cash 🔎 Analysis

    Week 3 starts with a deep dive into the cash dynamics of a business. We'll talk about the importance of the cash conversion cycle and how growth can either create or consume cash.

    • 📄

      Cash 🔎 Analysis

    Office Hours: 🗣️ Ask us anything

    No module content yet

Week 3

Mar 18—Mar 20

    Operating Leverage 🔎 Analysis

    We'll next learn how to analyze the financial statements of companies that are growing rapidly but not yet fully optimized for profit.

    • 📄

      Operating Leverage 🔎 Analysis

    Capital Allocation 🔎 Analysis

    Capital allocation is a CEOs #1 job. We'll show you how to calculate and use advanced metrics like Return on Equity, Return on Assets, and Return on Invested Capital to tell whether or not management is doing a good job.

    • 📄

      Capital Allocation 🔎 Analysis

    🎓 Practice & Graduation

    It's time to put your new skills to the test! We'll end the course with a full day of practice. You'll analyze the financial statements from companies in different stages of the business growth cycle and tell us what YOU think.

    • 📄

      🎓 Practice & Graduation

Bonus

    Office Hours: 🗣️ Ask us anything

    Join us for a bonus 1-hour session.

    • 📄

      Office Hours: 🗣️ Ask us anything

    ♻️ Putting it all together

    It's time to put your new skills to the test! Each student will analyze the financials of a company of their choosing. We will review the submissions together and discuss the strengths and weaknesses of several businesses.

    • 📄

      ♻️ Putting it all together

What students are saying

Course schedule

4-6 hours per week

  • Monday, Wednesday & Thursdays

    12:00 PM - 1:30 PM EST

    9:00 AM - 10:30 AM PST

    5:00 PM - 6:30 PM GMT

    10:30 PM - 12:00 PM IST

  • Starts March 4, 2024

    Mon, Mar 4 - Course Kickoff

    Thur, Mar 7 - Financial Statements Bootcamp Review

    Mon, Mar 11 - Business Stage

    Wed, Mar 13 - Survival

    Thur, Mar 14 - Growth

    Mon, Mar 18 - Profitability

    Wed, Mar 20 - Capital Allocation

    Thur, Mar 21 - Graduation

  • Office Hours

    Ask us anything

    Stop by and ask us any questions you'd like on Friday, March 15th from 12:00 PM EDT - 1:00 PM EDT.

What Our Alumni Have To Say:

        Brian & Brian are genuinely fun people who love teaching and REALLY care about student outcomes."
Helena Wu

Helena Wu

Financial Statement Explained Simply Alumni
        Brian and Brian make the learning process interesting, efficient, and fun."
Sunny Sharma

Sunny Sharma

Financial Statements Explained Simply Alumni
        The "Brians" are fantastic! They LOVE to teach, and they love it when you get it!"
Ann Pearsons

Ann Pearsons

Financial Statements Explained Simply Alumni
        I enjoyed learning from "The Brians".
Julian Restrepo

Julian Restrepo

Financial Statements Explained Simply Alumni
        Brian and Brian are proof that whatever the subject matter, with the right teachers, any material will become interesting."
Adam Krupa

Adam Krupa

Financial Statements Explained Simply Alumni
        The Brians do a phenomenal job at explaining ALL concepts succinctly and clearly. They have a student-centric approach and show encouragement every step of the way."
Ernesto Estigarribia

Ernesto Estigarribia

Financial Statements Explained Simply Alumni

100% Risk Free

100% Risk Free

Money Back Guarantee

If you attend the sessions, actively participate, and still don’t find the course valuable, we’ll happily refund your payment in full. Simply let us know before the end of the 4th class, and we will issue you a full refund, no questions asked.

Meet your instructor

Brian Feroldi

Brian Feroldi

Author / Financial Educator

Brian Feroldi is a financial educator, author, speaker, and YouTuber. He has an MBA in finance and has been investing since 2004. Brian is the author of the best-selling book, Why Does the Stock Market Go Up?


Brian’s career mission statement is “to spread financial wellness.” He loves to help other people do better with their money, especially their investments. He has written more than 3,000 articles on stocks, investing, and personal finance for the Motley Fool.

Brian Stoffel

Brian Stoffel

Investor / Financial Educator

Brian Stoffel is a teacher at heart. Brian has been investing for more than a decade and he has written more than 4,000 articles for The Motley Fool.


Brian worked as a middle school teacher in Washington, DC for more than 5 years. He and his wife had a "mini-retirement" in Costa Rica and now spent a portion of their year there in a containership home. Brian plans his life and his investments around "antifragile" principles.

Frequently Asked Questions

Learning is better with cohorts

Learning is better with cohorts

Active hands-on learning

This course builds on live workshops and hands-on projects

Interactive and project-based

You’ll be interacting with other learners through breakout rooms and project teams

Learn with a cohort of peers

Join a community of like-minded people who want to learn and grow alongside you

More feedback on Brian & Brian:

        Brian Feroldi and Brian Stoffel are knowledgeable investors and amazing teachers who truly understand financial statements.
Jessica Ablamsky

Jessica Ablamsky

Investor
        Brian and Brian have done a phenomenal job. Simplifying complex tasks is hard, and they nailed it."
Wish Panda

Wish Panda

Analyst | Alumni
        Brian is super knowledgeable about stocks and breaks down concepts clearly and simply for anyone to understand."
Sharon Tseung

Sharon Tseung

Investor
        Brian Feroldi and Brian Stoffel are the most amazing educators in the financial industry. They can break down the jargon and explain it like you are 5."
Dhaval Kotecha

Dhaval Kotecha

Investor, Co-Host of Fintwit Summit
        I have followed the Brian’s for years and continue to learn new things from them. They use the perfect blend of academic principles and real-life examples that I can immediately apply to my investment process."
Austin Lieberman

Austin Lieberman

Investor
        I don't know of any duo with a more perfect combination of in-depth knowledge of financial statements paired with the ability to explain it in a simple and easy-to-understand way. Brian and Brian are the Yoda and Obi-Wan of financial statements."
Paul Essen

Paul Essen

Investor & Author