Financial statements don’t have to be intimidating

Financial statements are the endpoint of financial accounting—Warren Buffett calls it the language of business because it communicates a company’s operations and financial position to investors and creditors. In this course, you’ll learn that language so you can read statements with clarity and confidence.

Who this course is for?

This course is designed for investors who want to confidently read and interpret financial statements when analyzing a company for investment decisions. It’s ideal for beginner and early-stage investors who want to understand what financial statements actually reveal about a company’s performance, financial strength, and cash generation. This course is also helpful for investors who have reviewed balance sheets, income statements, or cash flow statements in the past but felt uncertain about how to connect the numbers or use them in analysis.

What You'll Learn

You’ll learn how business transactions become financial statements and why those statements are the foundation for analyzing a company. You’ll understand what the balance sheet reveals about a company’s resources and obligations, and how to interpret its financial position. You’ll learn how the income statement explains performance over time and what profits actually represent. You’ll see how the cash flow statement explains where cash comes from and how it’s used across operating, investing, and financing activities. You’ll learn how financial ratios bring these statements together to evaluate performance, liquidity, and financial risk.

Curriculum

9 Chapters · 74 Lessons

  1. 1

    Introduction

    1. (Included in full purchase)

      Course Welcome and Overview

    2. (Included in full purchase)

      How to Use This Course

    3. (Included in full purchase)

      What You'll Learn in this Course

  2. 2

    Module 1: Recording Business Transactions

    1. (Included in full purchase)

      Introduction to Module 1

    2. (Included in full purchase)

      Overview of Module 1

    3. (Included in full purchase)

      What You’ll Learn in Module 1

    4. (Included in full purchase)

      Lesson 1: The Accounting Equation

    5. (Included in full purchase)

      Lesson 2: Recording Transactions in a Journal

    6. (Included in full purchase)

      Lesson 3: Accrual Accounting

    7. (Included in full purchase)

      End of Module 1

    8. (Included in full purchase)

      Quiz Module 1

    9. (Included in full purchase)

      Key Takeaways

  3. 3

    Module 2: The Accounting Cycle

    1. (Included in full purchase)

      Introduction to Module 2

    2. (Included in full purchase)

      Overview of Module 2

    3. (Included in full purchase)

      What You'll Learn in Module 2

    4. (Included in full purchase)

      Lesson 1: The Journal and the Ledger

    5. (Included in full purchase)

      Lesson 2: From Entries to Statements

    6. (Included in full purchase)

      End of Module 2

    7. (Included in full purchase)

      Quiz Module 2

    8. (Included in full purchase)

      Key Takeaways

  4. 4

    Module 3: The Balance Sheet

    1. (Included in full purchase)

      Introduction to Module 3

    2. (Included in full purchase)

      Overview of Module 3

    3. (Included in full purchase)

      What You'll Learn in Module 3

    4. (Included in full purchase)

      Lesson 1: Assets

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      Lesson 2: Liabilities and Equity

    6. (Included in full purchase)

      Lesson 3: Accounts

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      Lesson 4: Example

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      End of Module 3

    9. (Included in full purchase)

      Quiz Module 3

    10. (Included in full purchase)

      Key Takeaways

  5. 5

    Module 4: The Income Statement

    1. (Included in full purchase)

      Introduction to Module 4

    2. (Included in full purchase)

      Overview of Module 4

    3. (Included in full purchase)

      What You'll Learn in Module 4

    4. (Included in full purchase)

      Lesson 1: Structure of the Income Statement

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      Lesson 2: Revenues

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      Lesson 3: Cost of Sales and Gross Profit

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      Lesson 4: Operating Expenses and Operating Profit

    8. (Included in full purchase)

      Lesson 5: Nonoperating Items and Net Income

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      Lesson 6: Example

    10. (Included in full purchase)

      End of Module 4

    11. (Included in full purchase)

      Quiz Module 4

    12. (Included in full purchase)

      Key Takeaways

  6. 6

    Module 5: The Cash Flow Statement

    1. (Included in full purchase)

      Introduction to Module 5

    2. (Included in full purchase)

      Overview of Module 5

    3. (Included in full purchase)

      What You'll Learn in Module 5

    4. (Included in full purchase)

      Lesson 1: Structure of the Cash Flow Statement

    5. (Included in full purchase)

      Lesson 2: Cash Flow Sources and Uses

    6. (Included in full purchase)

      Lesson 3: Operating Cash Flow

    7. (Included in full purchase)

      Lesson 4: Example

    8. (Included in full purchase)

      End of Module 5

    9. (Included in full purchase)

      Quiz Module 5

    10. (Included in full purchase)

      Key Takeaways

  7. 7

    Module 6: Financial Ratios

    1. (Included in full purchase)

      Introduction to Module 6

    2. (Included in full purchase)

      Overview of Module 6

    3. (Included in full purchase)

      What You'll Learn in Module 6

    4. (Included in full purchase)

      Lesson 1: Introduction to Ratios

    5. (Included in full purchase)

      Lesson 2: Activity Ratios

    6. (Included in full purchase)

      Lesson 3: Liquidity Ratios

    7. (Included in full purchase)

      Lesson 4: Solvency Ratios

    8. (Included in full purchase)

      Lesson 5: Profitability Ratios

    9. (Included in full purchase)

      End of Module 6

    10. (Included in full purchase)

      Quiz Module 6

    11. (Included in full purchase)

      Key Takeaways

  8. 8

    End of Course

    1. (Included in full purchase)

      End of Course

    2. (Included in full purchase)

      End of Course Wrap-Up

    3. (Included in full purchase)

      Continue Your Learning

  9. 9

    Supplementary Material

    1. (Included in full purchase)

      Understanding Financial Statements Companion

    2. (Included in full purchase)

      Glossary

    3. (Included in full purchase)

      Transcript Module 1

    4. (Included in full purchase)

      Transcript Module 2

    5. (Included in full purchase)

      Transcript Module 3

    6. (Included in full purchase)

      Transcript Module 4

    7. (Included in full purchase)

      Transcript Module 5

    8. (Included in full purchase)

      Transcript Module 6

Led by Fundamental Investing Institute

Matt DePaola is the co-founder of the Fundamental Investing Institute and host of the Fundamentals Unfiltered podcast. He teaches practical, fundamentals-first investing with a focus on intrinsic value, cash-flow-based analysis, and long-term thinking. His mission is to make high-quality financial education accessible and clear for beginners, early investors, and business owners.

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