1. Introduction to Investing and Valuation
2. Introduction to the Financial Statements

Part 1 Financial Statements and Valuation

3. How Financial Statements are used in Valuation
4. Cash Accounting, Accrual Accounting, and Discounted Cash Flow Valuation
5. Accrual Accounting and Valuation: Pricing Book Values
6. Accrual Accounting and Valuation: Pricing Earnings

Part 2 The Analysis of Financial Statements

7. Business Activities and Financial Statements
8. The Analysis of the Statement of Shareholders’ Equity
9. Analysis of the Balance Sheet and Income Statement
10. The Analysis of the Cash Flow Statement
11. The Analysis of Profitability
12. The Analysis of Growth and Sustainable Earnings

Part 3 Forecasting, Valuation and Strategy

13. The Value of Operations and the Evaluation of Enterprise Price-to-Book and Price-Earnings Ratios
14. Simple Forecasting and Simple Valuation
15. Full-Information Forecasting, Valuation, and Business Strategy Analysis

Part 4 Accounting Analysis and Valuation

16. Creating Accounting Value and Economic Value
17. Analysis of the Quality of the Financial Statements

Part 5 The Analysis of Risk

18. The Analysis of Equity Risk and the Cost of Capital
19. The Analysis of Credit Risk