Dive deeper: free cash flow, common-size cash flows, and liquidity ratios.

• Evaluate sources & uses across operations, investing, financing.
• Calculate FCFF, FCFE and coverage ratios.
• Spot cash-flow red flags before the income statement does.

Trace cash through operations with direct vs. indirect methods and statement linkages.

• Link income statement & balance sheet to CFO, CFI, CFF.
• Build direct and indirect operating cash flows.
• Convert indirect to direct and IFRS vs. GAAP presentation quirks.

Assets, liabilities, equity—learn placement, measurement and ratio signals.

• Intangibles vs. goodwill impairment tests.
• Financial instruments: cost vs. fair value.
• Key leverage & liquidity ratios and common-size BS hacks.

From topline to EPS, decode how revenues, matching, and non-recurring items reshape the story.

• 5-step revenue test (IFRS 15/ASC 606).
• Capitalize vs. expense costs.
• Basic vs. diluted EPS math.
• Common-size & margin radar.

Kick-start Season 4 by mapping the six-step framework analysts use to turn raw filings into insight.

• Purpose & context: set the question first.
• Collect → process → interpret data like a pro.
• Regulated vs. alternative info sources.
• How IFRS & US GAAP differences trip your comps.

Strip a company to its DNA: who it serves, what it sells, how it captures value.

• Revenue logic, cost structure, moat and network effects.
• Classic vs. platform vs. subscription plays.
• Innovation, disruption & why some models age fast.
• Checklist: test any issuer’s model in five quick questions.

Debt or equity? Peek inside the Modigliani–Miller lab and the real-world frictionsthat bend theory.

• WACC, target weights, pecking-order & agency costs.
• MM props I & II—tax shields, distress costs, optimal leverage.
• Market timing & hybrid instruments (convertibles, prefs).
• Signals management sends when it sells stock or borrows big.

From factory floors to fintech apps—learn how issuers vet and fund projects.

• NPV vs. IRR vs. ROIC and why NPV rules.
• Expansion, compliance, new-line & option-embedded projects.
• Capital budgeting pitfalls and behavioral traps.
• Real options: delay, grow, abandon decisions that flex with uncertainty.

Cash is the fuel—learn to measure it, speed it and never run dry.

• Decode the cash-conversion cycle (DIO + DSO − DPO).
• Distinguish conservative vs. aggressive WC policies.
• Primary vs. secondary liquidity sources when crisis hits.
• Spot drags (bad A/R) and pulls (tight credit) before ratios scream.

Zoom in on boards, committees and incentives that make—or break—value creation.

• Principal–agent conflicts & classic agency costs.
• Audit, nom-gov & comp committees—what great ones do daily.
• Activism, poison pills, dual-class shares: protecting or harming owners?
• Governance failures (Theranos, Dieselgate) and the lessons analysts track.