Advanced Financial Accounting
Financial reporting and analysis from the user's perspective — the full CFA Level 1 Financial Statement Analysis syllabus. Each lesson develops the accounting standard, then turns it on its head to ask how the choice of policy distorts the ratios and what that tells you about a company's real performance and earnings quality.
Financial Reporting & Analysis: Balance Sheet and Income Statement
The analyst's toolkit — DuPont decomposition of ROE, profitability and operating leverage, activity ratios and the cash conversion cycle, liquidity and solvency, and how to benchmark using segment disclosures.
Financial Reporting & Analysis: Cash Flow Statement
Classifying flows into CFO/CFI/CFF under IFRS vs US GAAP, the direct and indirect methods with a fully worked reconciliation, cash flows across the corporate life cycle, CFO manipulation, and free cash flow.
Revenue Recognition
The five-step model (IFRS 15 / ASC 606), principal vs agent, long-term contracts and percentage-of-completion, receivables and the bad-debt allowance, factoring and channel stuffing, and deferred revenue.
Tangible Assets and Inventory
PPE recognition and depreciation, the IFRS revaluation model and investment property, impairment under IFRS vs US GAAP, derecognition, inventory cost, FIFO/LIFO/weighted-average, the LIFO reserve, and write-downs to net realisable value.
Financial and Intangible Assets
Classifying and measuring financial assets (amortised cost / FVOCI / FVPL), intangibles under IAS 38, the R&D research/development split, expensers vs purchasers, goodwill, and goodwill impairment.
Liabilities and Provisions
Bonds and the effective-interest method, debt extinguishment and the fair-value option, lease accounting under IFRS 16 and US GAAP, defined-benefit pensions, and provisions, contingent and environmental liabilities.
Deferred Tax
Temporary differences, deferred tax liabilities and assets, taxable vs deductible differences, recognition and valuation allowances, tax-rate changes, statutory vs effective tax rates, and deferred tax in equity.
Shareholders’ Capital and Employee Compensation
Components of equity and OCI, dividends and treasury shares, basic and diluted EPS (if-converted and treasury-stock methods), and share-based compensation including the expensing debate.
Business Combinations and Investments in Associates
Subsidiaries, associates and joint arrangements; control vs interest; full consolidation, goodwill and non-controlling interests; the equity method; and whether goodwill is an asset and M&A creates value.
Financial Reporting and Earnings Quality
Standard setters and regulators, the IFRS framework and conservatism, reporting vs earnings quality, aggressive/conservative earnings management, the CFO/earnings diagnostic, and the quality of non-GAAP exclusions.
From Financial Reporting to ESG Reporting
The ISSB and IFRS S1/S2, why investors demand ESG data, the four disclosure pillars, climate physical vs transition risk, Scope 1/2/3 emissions, and the EU CSRD with double materiality.