Reading Between The Lines of Financial Statements
Most people look at numbers and see data. We'll show you how to spot the story underneath — the patterns, the warning signs, and the opportunities hiding in plain sight.
Explore Our Materials
What Makes Financial Analysis Actually Work
It's not about memorizing formulas. It's about building the instinct to ask better questions when you're staring at a balance sheet at midnight.
Cash Flow Reality
Profit on paper means nothing if the cash isn't there. We dig into operating cycles, working capital movements, and where money actually goes in growing businesses.
Ratio Context
A current ratio of 2.1 sounds fine until you learn the industry average is 3.5. Every number needs its backdrop — sector norms, historical trends, competitive positioning.
Red Flag Recognition
Sometimes it's the footnotes that matter most. Revenue recognition changes, sudden inventory buildups, or shifting depreciation methods can tell you more than the headline figures.
How We Got Here
Started With A Question
Why do accounting courses focus on compliance when most mistakes happen in interpretation? We built our first workshop around real company failures and the financial statements that should have warned investors.
Expanded Beyond The Classroom
Corporate clients kept asking for custom training after attending our public sessions. We developed industry-specific modules for retail, manufacturing, and tech sectors — each with different analytical priorities.
Built The Research Library
Our case study collection grew to over 200 Australian companies with detailed analysis of their financial reporting evolution. Real businesses, real numbers, real lessons about what works and what doesn't.
Looking Forward
We're developing advanced modules on integrated reporting, ESG metrics analysis, and the financial implications of sustainability disclosures. The field keeps changing, so we keep learning.
Deep Dives Into Statement Analysis
Our upcoming intensive runs from September through November 2025. It's designed for people who already understand basic accounting but want to develop serious analytical capability.
Each session works through complete financial statements from ASX-listed companies. You'll learn to spot earnings management, assess debt sustainability, evaluate acquisition accounting, and judge management's capital allocation decisions.
- Comprehensive ratio analysis with industry benchmarking across eight sectors
- Cash flow statement forensics and working capital cycle assessment
- Quality of earnings evaluation and adjustments for one-time items
- Segment reporting analysis and geographic revenue concentration risks
- Off-balance sheet obligations and contingent liability assessment
Who's Teaching This
Finnian Gallagher
Spent fifteen years in equity research before switching to education. Still consults for institutional investors who need second opinions on complex reporting situations. Specializes in retail and consumer goods analysis.
Lorcan Dempsey
Former CFO who discovered he preferred teaching financial analysis to actually doing it. Brings practical experience from scaling two businesses through growth phases. Focuses on cash management and capital structure decisions.
Start Building Analytical Capability
Our next program intake opens in August 2025. Spaces are limited because we keep class sizes small enough for detailed case discussion and individual feedback on analysis work.
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