Even if you study financial statements and know various financial ratios, when you actually open a real company’s financial statements, it is not easy to answer questions like “What should I look at first?”, “Why did this number change?”, and “So what are this company’s risks?”
This course is not about simply memorizing financial statement account items or financial ratios. It is a corporate analysis course where you learn how to identify the causes behind changes in the numbers shown on financial statements and connect them to a company’s business structure and risks for interpretation.
This course on corporate analysis draws on extensive practical experience analyzing and evaluating companies at financial institutions over many years, along with the perspectives on corporate analysis developed while writing “Financial Statement Analysis by 11 Industries”. It examines step by step how a company’s business environment and decisions lead to changes in its asset structure, capital structure, and cost structure, and how these changes are reflected in financial statement figures such as revenue and profit.
In particular, we analyze a company’s risks by distinguishing between business risk and financial risk. You will understand why a company’s key risks differ depending on its industry and business structure, and which financial information should therefore be examined closely. You will also learn how to assess a company’s financial risk and borrowing capacity through EBITDA and cash generation, as well as how its cost structure—including fixed and variable costs—and operating and financial leverage affect its earnings and risk.
Through this course, you will learn how to analyze companies by thinking for yourself about why the numbers changed → what caused them → what risks they lead to → what you should check going forward, going beyond simply explaining figures as “sales increased,” “the operating profit margin declined,” or “the debt ratio is high.”
If you have studied financial statements at least once but felt unsure how to apply them to actual company analysis, or if you want to analyze a company's performance and financial statements more systematically while investing in stocks, this course will help you go beyond “looking at financial statements” to learn “how to read a company through its financial statements.”
Numbers → Causes → Risks → Future. Rather than memorizing numerous financial ratios, it is more important to understand which numbers to look at and why.
This is the core of corporate analysis that this course aims to convey.
Hanyang University, Department of Business Administration (Adjunct Professor)
Korea Banking Institute (Adjunct Professor)
National Pension Service Fund Management Department
Korea Financial Investment Association Financial Investment Education Institute
Korea Federation of Savings Banks
Korean Standards Association
※ Conducted numerous B2B and group training sessions primarily for financial institutions, pension funds, and associations.
