Course Update | Reading Financial Statements

This article contains the historical updates and changes to CFI's Reading Financial Statements course.

Update History:

Update History

Announcement Date Effective Date
June 1, 2024 July 1, 2024

🗓️ Updates Effective July 1, 2024

Summary of Changes

On July 1, 2024, the following changes to the Reading Financial Statements course will take effect.

  • All new exercises
  • The example company will be based on a real company with actual financial statements
  • More real-world scenarios and hands-on experience with engaging practice using an annual report
  • New course assessment
  • New branding and Subject Matter Expert

Please note: learners who have not completed the Reading Financial Statements course by July 1, 2024, will be subject to the new requirements to earn a completion certificate.

Old Course Outline

New Course Outline

Introduction Introduction
Understanding the Balance Sheet Understanding the Annual Report
Understanding the Income Statement & Cashflow Statement Understanding Financial Statements (this covers the Balance Sheet)
Qualified Assessment/Summary Income Statement and Cashflow Statement

Summary (includes Qualified Assessment)

New Course Objectives

  •  Learn the contents of an annual report.
  • Understand a company’s operations and business strategy.
  • Realize the many risk factors a company must navigate.
  • Analyze company financial statements, as well as its different business segments.
  •  Read and comprehend the Management Discussion & Analysis (MD&A) section.
  • Review the notes on the financial statements for additional details.

Old Course Objectives

  • Navigate successfully through the notes to the financial statements.
  • Read and interpret the various items in a published balance sheet.
  • Understand complex balance sheet concepts (e.g. deferred taxes, goodwill, investments, etc.)
  • Understand the different ways to present an income statement and cash flow statement.
  • Read and interpret the various items in a published income statement.
  • Identify the operating, financing, and investing activities of a company.
  • Determine what is contained in an annual report and where to find it.

Why were these updates implemented?

To significantly improve the hands-on learning components of the Reading Financial Statements course.

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