Module 6
Financial Statement Analysis
How to read, analyze, and pressure-test the financial statements of target companies.
Lessons
Lesson 1
Income Statement Deep Dive
Revenue recognition, margins, EBITDA, and the art of normalization
~20 min
Lesson 2
Balance Sheet Analysis
Working capital, asset quality, and the items that hide off the balance sheet
~20 min
Lesson 3
Cash Flow Statement
Free cash flow, capex, and why cash matters more than earnings in PE
~20 min
Lesson 4
Quality of Earnings
The QoE report: validating adjusted EBITDA and stress-testing management's numbers
~20 min
Lesson 5
Working Capital Analysis
DSO, DIO, DPO, and the cash conversion cycle in PE due diligence
~20 min
Lesson 6
Red Flags & Forensics
Detecting revenue manipulation, channel stuffing, and accounting irregularities
~20 min