About this course
Learn techniques we teach around the world...
Oriented around interpreting financial results of companies to gain a solid understanding of financial statements, the goal is to demystify financial disclosures and use practical tools to efficiently unpack the numbers. This turn-key perspective combined with TTS’s teaching expertise, provides the optimal blend of accounting instruction needed to prepare participants for success—not just as accountants but as well-rounded financial professionals.
These course weave together classroom lecture, in-class exercises, and critical thinking skills providing the real world, practical applications of the standards and methods that a professional needs.
Led by our experienced instruction team of former practitioners, you get a unique blend of industry insight combined with a passion for teaching. The average TTS instructor has been part of the team for 8.5 years.
What’s Included
Instructor-led classroom training
Ongoing instructor support
One-year online access to course materials and related self-study courses for additional reference and review:
- Full Accounting Video Library
Schedule
9:00 am to 5:00 pm each day with an hour lunch around noon and shorter breaks throughout the day.
Prerequisites
Days 2&3 assume a basic knowledge of financial accounting. Interpreting Financial Statements (Day 1) will fulfill this requirement.
What you will learn
Day 1 - Interpreting Financial Statements
Fundamental Concepts:
- Generally accepted accounting principles
- Matching principle
- Historical cost vs. fair value
- A= L+ E
- Three-statement relationships
- Footnotes
Balance Sheet:
- Assets and liabilities (detailed discussion of flow and terms)
- Debt features and terms
- Introduction of related period expenses (depreciation, amortization, interest expense, etc.)
- Equity (detailed discussion of flow and terms)
Income Statement:
- Income statement (detailed discussion of flow and terms)
- EBIT
- Relationships with the balance sheet
Supporting Information:
- Footnotes and management’s discussion
Evening Assignment:
- Optional exercises to reinforce learning objectives: self-paced
Day 2 - Advanced Accounting
Advanced Income Statement:
- Revenue recognition
- Unusual items
- Interest expense and capitalized interest
- Discontinued Operations
- Restructuring Charges
- EPS including primers on options and convertible securities
Cash Flow Statement:
- Mechanics and flow
- Detailed construction
- EBITDA
Other Topics:
- Sources of public information
- Ratio analysis and case study
- Normalizing results – an introduction
Evening Assignment:
- Ratio analysis: optional, self-paced
Day 3 - Accounting Complexities
Leases (finance vs. operating):
- Finance and operating leases
- Balance sheet and income statement presentation
- Impacts of lease classification on EBIT, EBITDA and EBITDAR
M&A Accounting:
- Purchase accounting
- Calculating goodwill and gains on bargain purchases
- Goodwill impairment
Intercorporate Investments:
- Consolidations and levels of ownership
- Equity method investments
- Noncontrolling interests
Income Taxes:
- Permanent differences and effective tax rates
- Temporary differences and deferred tax asset and liabilities
- Discussion of timely issues such as tax law changes (time permitting)
Share-based Compensation:
- Options and restricted shares
- Amortization of share-based compensation expense
Recent reviews
Great course to learn and remember key concepts from accounting to read and understand financial statements from a valuation perspective
I really enjoyed learning from Ben and how he taught the course.
On the venue: Overall, I thought the class size and setup was great, my only point would be on the chairs, which were pretty uncomfortable especially for our backs. On the instructor: very rarely in life we come across professors/teachers/instructors who can really connect to the class and who we can genuinely sense that cares about the subject and each student's learning process - but Wayne Stallings is one of those people. Wayne provided a great experience, being extremely attentive and forthcoming, always adressing any of our questions with extreme respect and in a very didactive way. Wayne combines a fun and educational personality to help us make the most of the classes, and although it was a very short course (3 days), Wayne's way of conducting the classes made me (and others) get the most out of it.