Financial Statements

Income statement, balance sheet and cash flow.

1. The Income Statement — How to read the income statement from the top line to the bottom line, what earnings per share really means, and the adjusted numbers and one-time items to watch.
2. The Balance Sheet — How the balance sheet shows what a company owns and owes on a single date, the key lines to read, and how to spot a strong or stretched financial position.
3. The Cash Flow Statement — Why cash matters more than accounting profit, the three sections of the cash flow statement, how to calculate free cash flow, and the warning signs to watch.
4. Debt & Liquidity — How to judge whether a company can pay its bills and handle its debt, the key coverage and liquidity ratios, and why rising interest rates change the picture.
5. Reading a 10-K & 10-Q — What the main company filings are, where to find them, which sections to read first and a practical 30-minute routine for getting real answers from them.