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AF-003

Advanced Financial Analysis

Intensive 5-day course · English, Arabic & European languages

Chief accountants, finance managers, and credit risk analysts will find this five-day programme valuable. Delegates learn to interpret financial statements, read annual reports, and examine an industry using Michael Porter's Five Forces. The programme covers financial ratio analysis in Excel, the Altman Z-score for bankruptcy risk, and forecasting techniques based on historical performance.

Classroom

Public courses in our cities

  • 26–30 Oct 2026Doha£4,200 + VAT
  • 9–13 Nov 2026Frankfurt£2,600 + VAT
  • 23–27 Nov 2026Abu Dhabi£4,200 + VAT
  • 14–18 Dec 2026Barcelona£3,080 + VAT
  • 28 Dec – 1 Jan 2026Jeddah£4,200 + VAT
  • 4–8 Jan 2027Vienna£3,400 + VAT
Show 23 more dates
  • 18–22 Jan 2027Singapore£4,200 + VAT
  • 1–5 Feb 2027Barcelona£3,080 + VAT
  • 15–19 Feb 2027Muscat£3,080 + VAT
  • 8–12 Mar 2027Paris£3,600 + VAT
  • 22–26 Mar 2027Casablanca£2,280 + VAT
  • 12–16 Apr 2027Frankfurt£2,600 + VAT
  • 26–30 Apr 2027Manama£3,080 + VAT
  • 10–14 May 2027Barcelona£3,080 + VAT
  • 24–28 May 2027Amman£3,400 + VAT
  • 7–11 Jun 2027Vienna£3,400 + VAT
  • 21–25 Jun 2027Madrid£3,400 + VAT
  • 5–9 Jul 2027Barcelona£3,080 + VAT
  • 19–23 Jul 2027Berlin£3,400 + VAT
  • 9–13 Aug 2027Paris£3,600 + VAT
  • 23–27 Aug 2027Milan£3,400 + VAT
  • 13–17 Sep 2027Frankfurt£2,600 + VAT
  • 27 Sep – 1 Oct 2027Malaga£3,080 + VAT
  • 11–15 Oct 2027Barcelona£3,080 + VAT
  • 25–29 Oct 2027Sarajevo£3,400 + VAT
  • 1–5 Nov 2027Vienna£3,400 + VAT
  • 15–19 Nov 2027Dubai£4,200 + VAT
  • 6–10 Dec 2027Barcelona£3,080 + VAT
  • 20–24 Dec 2027Riyadh£4,200 + VAT

Group discount: 2 delegates 20% · 3 delegates 35% · 5 or more delegates 50%

Can't make these dates? We can run this course for your team on dates that suit you. Ask for custom dates · In-house options

Online (live)

With a trainer, on dates to suit your team

This course can be taught live online by a trainer, in English, Arabic or any European language, for one person or a whole team.

£1,850 + VAT

Group discount: 2 delegates 20% · 3 delegates 35% · 5 or more delegates 50%

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Course overview

Accounting choices affect reported financial performance. Analysts on this five-day programme examine those choices and practise questioning business results, using published statements and interactive cases to assess financial health for management. Work covers the statements themselves and the accompanying annual report, including its non-financial content and external audit opinions.

Country exposure and industry competition form part of the analysis. Delegates examine economic indicators and Michael Porter's Five Forces before using Excel ratios to assess profitability, liquidity and efficiency, together with working capital and the risks associated with financing. DuPont analysis and the Altman Z-score provide further approaches to evaluating performance and possible bankruptcy.

Reporting quality receives a separate day. The Beneish M-score is used to examine possible earnings manipulation, alongside assessments of cash flow and financial position quality. Forecasting work then uses historical performance to model statements, including revenue and costs, fixed assets, retained earnings and the effect of dividend policy.

Course objectives

By the end of the course, delegates will be able to:

  1. Explain how accounting methods change the figures in financial statements
  2. Analyse industry competition through Porter's five forces model
  3. Calculate financial ratios with Excel and report recommendations from the analysis
  4. Assess reporting quality alongside the quality of earnings and cash flows
  5. Use a company's historical performance to forecast its financial statements

Target competencies

  • Interpreting financial statements
  • Reading annual reports
  • Financial analysis
  • Credit analysis
  • Financial forecasting and modelling

Who should attend

This course suits:

  • Chief accountants and accounting managers
  • Senior accountants
  • Finance directors and finance managers
  • Financial analysts and controllers
  • Financial accounts managers and heads of finance
  • Credit controllers and credit risk analysts
  • Bankers and relationship managers

Training methodology

  • This course uses brief presentations by the consultant.
  • Delegates participate in group exercises.
  • Published company statements provide material for practical analysis in Excel.

Daily agenda

  1. Day 1

    Financial Statements and the Annual Report

    • Analysing the income statement, balance sheet, and cash flow statement
    • Examining OCI components
  2. Day 2

    Accounting considerations in financial analysis

    • Receivables and the Expected Credit Loss (ECL) provision
    • Fixed asset models comparing Cost against Fair Value
    • Capital expenditures and impairment accounting
    • Lease accounting impacts
    • Investment accounting variables
    • Goodwill accounting treatments
    • What an annual financial report contains
    • Non-financial aspects of an annual report
    • External audit opinion types
    • Management Discussion and Analysis (MD&A)
    • Introduction to macroeconomic and industry analysis
    • Assessing country exposure via macroeconomic factors
    • GDP, unemployment rate, inflation, and interest rate indicators
    • Growth in GDP and deficit-to-GDP and debt-to-GDP ratios
    • Michael Porter's Five Forces for industry competitiveness
    • New entrant threats
    • Substitute threats
    • Buyer bargaining power
    • Supplier bargaining power
    • Competitor rivalry
    • Annual report segment reporting
  3. Day 3

    Financial Ratios Analysis Using Excel

    • Improving comparability through common size analysis
    • Working out trends and growth patterns
    • Assessing company performance using ratio analysis
    • Measuring profitability
    • Measuring liquidity
    • Working capital management and efficiency
    • Risk and financing structure
    • Applying DuPont analysis
    • Assessing bankruptcy potential with the Altman Z-score
    • Graphical representation methods
  4. Day 4

    Assessing the Quality of Financial Reports

    • Comparing financial reporting quality against earnings quality
    • Assessment frameworks for financial report quality
    • Problems affecting financial report quality
    • Using the Beneish M-score model to spot manipulated earnings
    • Judging a firm's earnings quality
    • Judging a firm's cash flow quality
    • Financial position quality indicators
    • Finding information on risk
  5. Day 5

    Financial Forecasting Techniques for Analysts

    • Revenue forecasting: bottom-up versus top-down
    • Forecasting the cost of goods sold
    • Forecasting fixed and variable costs
    • Forecasting financial position accounts
    • Working capital: accounts receivables, inventory, and payables
    • Fixed assets forecasting
    • Retained earnings and dividend pay-out policy
    • Modelling financial statements forecast

Certificate

Every delegate who completes the course receives an ARUK Training Certificate of Attendance.

Frequently asked questions

How do I register?

Choose a date and city in the schedule and press Register, or send us an enquiry. Our team confirms your place and sends an invoice.

Are fees shown with VAT?

Fees are shown per delegate and exclude VAT, which is added to the invoice where applicable.

Can this course be delivered for our team only?

Yes. Any ARUK course can be delivered in-house at your premises, in a meeting room we book for you, or 1-to-1.

Is this course available online?

Yes. We run it live online with a trainer, on dates that suit your team, for £1,850 + VAT per delegate.

Is there a group discount?

Yes. 20% for 2 delegates, 35% for 3 delegates and 50% for 5 or more delegates on the same course.

Can the course be delivered in Arabic or another language?

Yes. Our courses can be delivered in English, Arabic or any European language, by a trainer who teaches in that language. Mention your preferred language when you register or enquire.

What certificate will I receive?

An ARUK Training Certificate of Attendance.

Related courses

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Advanced Financial Analysis

Key booking terms (read before you register)
  • The full fee is paid in advance, before the course starts.
  • Cancel in writing 30 or more days before the start date (45 for in-house) for a refund. Later than that, the full fee is payable.
  • No refund for non-attendance or partial attendance.
  • Places are for the named delegate only; another person cannot attend instead.
  • Moving to another date or city is only possible if ARUK agrees in writing.
  • Travel, accommodation and visas are your responsibility. A refused visa does not change the cancellation terms.

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Advanced Financial Analysis