Enrolled: 1 student
Duration: 3 Hours
Lectures: 17
Video: 3 Hours
Level: Intermediate

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financial statements analysis, annual reports, listed company financial statements, USALI

What are Annual Reports?

Annual reports are a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. The front part of the report often contains an impressive combination of graphics, photos, and an accompanying narrative, all of which chronicle the company’s activities over the past year and may also make forecasts about the future of the company. The back part of the report contains detailed financial and operational information.

Listed companies are bound by duty to provide all necessary information to stakeholders through annual reports, in order to let investors understand companies’ performance. Some stock exchanges have dedicated formats and requirements while others have broad guidelines.

Reporting requirements in Annual Reports, however, includes a minimum of

– Companies product information, competitors, market risks, and road strategies
– Management report explaining key aspects of companies performance (management, however, may not report all issues and materiality definition is vague)
– Audited financial statements.

Annual reports are quite large documents with a full load of information. Investors and stakeholders can not trust all information and disclosure prima facie. hence they need to understand the structure of annual reports, what section contains what kind of information.

Typically, an annual report will contain the following sections:

  • General corporate information
  • Operating and financial highlights
  • Letter to the shareholders from the CEO
  • Narrative text, graphics, and photos
  • Management’s discussion and analysis (MD&A)
  • Financial statements, including the balance sheet, income statement, and cash flow statement
  • Notes to the financial statements
  • Auditor’s report
  • Summary of financial data
  • Accounting policies

Users need a logical approach in getting around with the annual report, in this course, we will teach you that approach with practical example and follow along the process.

We used APPLE inc as a case study and South West airlines as an example.

What you will learn in this course to understand annual reports?

  • structure of annual reports
  • stock exchange regulatory requirements
  • how to read annual reports
  • how to analyze annual reports
  • what information is found and what is usually missing from reports and where to find missing information
  • using analysis techniques to understand what the company is hiding
  • financial statement analysis of APPLE and Southwest airlines

Author of this course is Mr Manish Gupta, a passionate hotelier and finance expert

Other courses taught by Mr Manish are

Analyze Hotel Financial Statements steps you must learn for Rooms Dept

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learn how to Analyze Hotel Financial Statements to improve profitability in 2021

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Fundamentals of Annual Reports

1
Introduction to the annual Reports
2
Annual Report information requirements from stock exchanges
3
Sample of Annual Reports
4
How to Download reports
5
How to Download reports from Company Websites
6
Overview of annual report downloaded in previous video
7
Explaining Structure of 10K and annual reports

Steps in Analyzing Annual Reports

1
Key Steps in getting around with Annual Reports
2
Step 1 – Understanding Company and its business
3
Step 1 – Understanding Risks related to company
4
Step 2 – Understanding market news and development to understand risks management may not tell users
5
Step 3 – Reading Management Discussion and Anlysis
6
Step 4 using vertical analysis and horizontal analysis to identify area of concern
7
Step 4 Understanding balance sheet and using Ratio analysis, cash flow to understand concerns
8
Completed Example of SouthWest Airlines
9
Final Video on presentation and assignment

Additional Resources

1
Additional Resources for annual reports

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Master Annual Reports to evaluate Company Performance in 2021
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