The IFB Equity Accounting Course
A deep dive into the toughest concepts in finance.
Accounting and valuation have real-world applications, it should be taught that way. The IFB Equity Accounting Course provides video lessons using real life examples pulled straight from company 10-k's, so that students can follow along and learn the advanced material by doing.
With the endless stream of financial information and seemingly countless details that investors and analysts need to master in public financial statements, a course like this should be a prerequisite to the stock market and all of its potential-- both personal and career-wise.
The IFB Equity team has narrowed down the toughest concepts in finance to provide an easily digestible curriculum.
It is meant to guide students regardless of previous experience; learning from some of the most influential case studies, prolific investors, and adroit professors alike.
We're confident that you'll find this course immensely valuable. It contains lessons that you'll take with you for the rest of your life. And like investments, education and knowledge compound over time and can provide indispensable value for those who seize it.
Your Instructor
Andrew Sather
As the founding publisher of the stock market newsletter The Sather Research eLetter, Andrew spends most of his days analyzing financial statements to find companies trading with a margin of safety, emphasis on the safety. Recognizing that valuation is important, he also strives to find companies with sizeable growth potential and is willing to "pay up" for compounding free cash flows.
Dave Ahern
A former banker, Dave is passionate about teaching people the merits of investing for a dream retirement. Heavily influenced by business school professors Aswath Damodaran and Benjamin Graham, Dave’s valuation focus is all about a margin of safety. He is happy to wait for the "fat pitch" when it comes to the stock market, and wants to buy quality companies at cheap prices.
Cameron Smith, CPA
Through his own studies for the CFA Exam, Cameron has become an expert at mastering and teaching the most intricate details with financial statement analysis. Craving a tool to help with his efforts in the stock market, Cameron created the IFB Equity Model spreadsheet for automated 10 year forecasts and adaptive valuation models all in one convenient place.
Course Curriculum
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StartWhat is EBITDA? (7:26)
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StartEBITDA Margin (16:23)
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StartNet Debt to EBITDA (9:49)
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StartInterest Coverage Ratios (7:29)
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StartDays Sales Outstanding (DSO) (6:47)
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StartDays Sales in Inventory (DSI) (8:09)
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StartOperating Cycle & Cash Conversion Cycle (5:47)
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StartCash Flow Analysis Ratios (18:47)
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StartFree Cash Flow (9:44)
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StartMaintenance Capital Expenditures (13:49)
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StartChanges in Working Capital (12:19)
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StartNOPLAT for Operating ROIC (9:03)
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StartCombined Ratio (13:12)
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StartOperating Income & Expenses (6:43)
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StartCost of Goods Sold (COGs) (8:07)
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StartProperty, Plant, and Equipment (PPE) (6:14)
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StartSoftware Depreciation (7:01)
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StartStatement of Cash Flows (10:24)
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StartCapital Expenditures (8:56)
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StartOperating Leases (5:57)
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StartDeferred Revenue (11:06)
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StartDeferred Tax Liabilities (6:43)
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StartNet Operating Losses (NOLs) (10:03)
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StartShort term debt (14:18)
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StartContractual Obligations (6:30)
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StartHow to Read a 10-k (17:05)
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StartMD&A (7:40)
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StartAuditor's Opinion (5:48)
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StartInsider Ownership (8:44)
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StartRelated Party Transactions (5:20)
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StartRetained Earnings (16:29)
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StartOther Comprehensive Income (OCI), AOCI (12:52)
Frequently Asked Questions
This course is closed for enrollment.
BONUS: The IFB Equity Model spreadsheet is now included with your enrollment (a $49 value).