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.