Corporate Analysis and Reading Financial Statements for Stock Investment: Business Risks and Financial Risks Read Through Numbers

Will performance improve going forward as new orders increase and the order backlog accumulates? Is an increase in contract assets and contract liabilities a positive sign? And when will the orders received now show up as revenue and profit? Even if you have studied financial statements, you may often find yourself stuck when analyzing an actual company, unsure how to connect the current numbers to future performance. For more than 15 years, I have analyzed numerous companies across various industries in corporate finance and credit evaluation. In the process of assessing companies’ business structures and financial risks, I have learned that it is more important to track how changes in a business flow through to the numbers in its financial statements than simply to calculate financial ratios. Based on this experience, this course analyzes the business reports and financial statements of actual companies, including HD Hyundai Heavy Industries, Doosan Enerbility, and HD Hyundai Electric. We will connect changes in new orders and order backlogs, contract assets and contract liabilities, production lead times, ship prices and costs, operating profit margins, and cash flows to trace step by step how orders are converted into actual results. Through case studies of construction companies, we will also examine the reliability of recognized revenue and profit by analyzing contract assets, estimated costs, cost ratios, and cash flows. The important thing is not to memorize any single indicator like a formula. Even the same contract liability multiple can have a different meaning depending on a company’s business structure and production lead time, and even if the order backlog increases, whether this leads to an actual improvement in profitability must be verified separately. Therefore, in this course, through real-world case studies, you will learn which numbers to examine first for each company, what to review alongside them, and how to verify whether those changes actually lead to revenue and profit. By the end of the course, the goal is for you to move beyond simply confirming that “new orders have increased” or “contract liabilities have risen.” Instead, you will develop a framework for analyzing companies that enables you to independently assess and verify the direction of future performance from current numbers by following the flow of work → revenue → profit → cash.

Have you ever found it difficult to know which numbers to look at first when reviewing financial statements and business reports, or to interpret why revenue and profit have changed? For more than 15 years, I have analyzed companies across a wide range of industries in the corporate finance field, and I have learned that even when looking at the same financial statements, the numbers that matter most differ depending on the industry and business model. Corporate analysis is not simply about calculating financial ratios; it is the process of understanding what a company sells to make money, what costs it bears, and how industry risks appear in the numbers. This course begins with finding the information needed for analysis in the “Business Overview” section of a business report and in the notes to the financial statements. We examine the causes of growth by breaking revenue down into selling price (P) × sales volume (Q), and assess pricing power and bargaining power by comparing raw material prices with product prices. We then classify key costs into fixed and variable costs and connect CAPEX, depreciation, capacity utilization, and cost ratios to analyze how a company’s profitability and risks differ. We also examine what needs to be reviewed differently in business reports across industries such as manufacturing, food, semiconductors, secondary batteries, shipbuilding, construction, pharmaceuticals and biotechnology, and rentals. Through real-world company examples, you will learn how to connect numbers with business structures. The goal of this course is not to memorize the many numbers in a business report. It is to learn the flow of analysis—from industry and business structure → revenue structure → cost structure → profitability and risk—and establish a framework for analyzing companies independently.

From asset management using proptech to AI-based intelligent logistics and transportation system analysis, and even profitable smart home models, we provide practical know-how to design real business revenue models using technology as a tool.

This is Part 1 of the Financial Accounting course for the nationally accredited Financial Manager certification exam. It covers financial reporting, International Financial Reporting Standards, and the presentation of financial statements. Learners will study the theories and conceptual framework of financial accounting under the Korean International Financial Reporting Standards (K-IFRS), along with key topics such as financial statement presentation and events after the reporting period. This course is suitable for learners seeking to build practical skills in financial management and prepare for the certification exam.

The first step to becoming rich is to understand your assets and cash flow! Learn from accountant Andrew Kim how to use financial statements used in companies for personal financial management.

This course analyzes the US-China currency hegemony competition, centered on dollar-based stablecoins and China's digital yuan. By systematically studying how changes in the global financial order in the digital currency era affect the domestic economy, financial markets, and individual asset strategies, it provides insights that can be immediately applied to practical work.

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We approach cost accounting and management analysis, which you may have found difficult, in a very practical and easy way using Excel. This course covers the following topics: - Cost Calculation from Basics to Practice: Step-by-step learning from cost concepts, standard costs, actual costs, to indirect cost allocation - Understanding Financial Statements and Accounting Flow: From manufacturing cost flow to accounting processing and financial statement creation process - Strategic Pricing Methods: Pricing strategies by market type and profitability analysis by product - Analyzing Management Indicators with Excel: Break-even point analysis and financial ratio analysis practice - Management Decision-Making Based on Management Accounting: Short-term/medium-to-long-term business planning and business feasibility analysis practice

This course covers inventory, tangible assets, and intangible assets in the financial accounting section of the Certified Financial Manager exam. It addresses the accounting principles and calculation methods for each asset under Korean International Financial Reporting Standards (K-IFRS). It will help accounting professionals who hold an Accounting Manager certification and candidates preparing for the Certified Financial Manager exam strengthen their financial accounting skills.

A patent attorney with 20 years of experience shares intellectual property strategies for startups, based on hands-on experience at major corporations like Samsung SDI and Celltrion, as well as domestic and international patent dispute cases. You will systematically learn essential practical knowledge that must be known from the early stages of founding, ranging from patent applications to building an IP portfolio and preventing disputes.

We take a practical and easy approach to cost accounting and business analysis—topics that often feel difficult—by utilizing Excel. This course covers the following topics: - From Cost Accounting Basics to Practice: Step-by-step learning from cost concepts to standard costing, actual costing, and overhead allocation. - Understanding Financial Statements and Accounting Flows: From manufacturing cost flows to accounting treatments and the financial statement preparation process. - Strategic Pricing Methods: Pricing strategies by market type and profitability analysis by product. - Analyzing Business Indicators with Excel: Hands-on practice with break-even point (BEP) analysis and financial ratio analysis. - Management Decision-Making Based on Managerial Accounting: Hands-on practice with short-term/long-term business planning and feasibility analysis.

The fact that you can analyze data more easily and effectively with Python Pandas instead of Excel! Learn the basic functions of the Pandas library and how to use it in practice through financial data analysis.

We will examine the changes that AI technology has brought to the entire financial industry through various cases such as fintech, investment, credit risk, and fraud detection. Through hands-on practice using Python libraries, you will understand the application methods and strategic insights of financial AI and learn how to safely integrate generative AI into financial services.

We'll take a very practical and easy approach to cost accounting and management analysis using Excel, which you may have found difficult before. This course covers the following topics: - Cost Accounting from Basics to Practice: Step-by-step learning from cost concepts, standard costs, actual costs, to indirect cost allocation - Understanding Financial Statements and Accounting Flow: From manufacturing cost flow to accounting treatment and financial statement generation process - Strategic Pricing Methods: Pricing strategies by market type and profitability analysis by product - Analyzing Management Indicators with Excel: Break-even point analysis and financial ratio analysis practice - Management Decision-Making Based on Management Accounting: Short-term/long-term business planning and business feasibility analysis practice

For those who want to generate income through tutoring, I have organized the methods for creating profit step-by-step and incorporated them into this lecture.

Why do project proposals get rejected? With the know-how of a 10-year veteran planner, I will teach you how to design business logic, the core of decision-making.

Automated trading program, source code ready-to-use! Deploy to production with Oracle Free Tier server!

This is an introductory real estate auction course where auction expert Bugatti Kim teaches in an easy and practical way without complex legal jargon. You will learn the entire process—from searching for properties to winning bids, eviction, and monetization—through core tips based on real-world experience, helping you overcome the fear of real estate investment through auctions and gain confidence.

We have selected essential topics that must be understood in the flow of economics, structured to be easily and clearly comprehensible together with economics expert Kim Gwang-seok. This enables understanding of the structure connecting from small-scale regional economies to global economic systems, and allows for realistic learning of the essence of the economic field.

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