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Financial Statement Analysis and Forecasting

By Prof. Dhananjay Sahu, Dr. Meenakshi A. Singh, Dr. Ishi Mohan   |   Banaras Hindu University
Learners enrolled: 36
ABOUT THE COURSE:
Financial Analysis and Forecasting is a prerequisite to rational financial decision making at the end of all the stakeholders in the corporate world. Understanding the intricacies of information disseminated through income statement, balance sheet and cash flow statements and their interpretation is pivotal and serve as the premise to decisions pertaining to mobilization and utilization of funds. Analysis of financial statements delves into different techniques used to unfold the intermingled causal relationships among financial variables and also facilitate users of financial information to foresee the future. The contents of the course intend to help financial statement users to interpret the statements and appraise the financial performance to make them more comparable, consistent over time and more representative of economic reality. At the backdrop of financial analysis, different genres of stakeholders would be able to assert about financial impediments and execute decisions more cautiously which are having near and far future implications.

INTENDED AUDIENCE: UG and PG students of MBA, M.com, CA, CMA and B.com

PREREQUISITES: 10+2

INDUSTRY SUPPORT: Widely used in all industries and more rigorously used in Banking, financial services and KPO industries.
Summary
Course Status : Upcoming
Course Type : Core
Language for course content : English
Duration : 12 weeks
Category :
  • Commerce
  • Management Studies
Credit Points : 3
Level : Undergraduate/Postgraduate
Start Date : 21 Jul 2025
End Date : 10 Oct 2025
Enrollment Ends : 28 Jul 2025
Exam Registration Ends : 15 Aug 2025
Exam Date : 24 Oct 2025 IST
NCrF Level   : 4.5 — 7.0

Note: This exam date is subject to change based on seat availability. You can check final exam date on your hall ticket.


Page Visits



Course layout

Week 1:  Prologue to Financial Statement Analysis; Regulatory framework of Financial Disclosure; Users of financial information; Income Statement and Balance sheet; Adversarial to Financial Statements.

Week 2: Types and Techniques of Financial Statement Analysis; Horizontal and Vertical analysis; Common-size statement; Comparative statement; Interpretation and problem solving

Week 3: Ratio Analysis; Liquidity Ratios- Simple; Weighted and Time-adjusted Ratios; Efficiency Ratios-Current asset movement Ratios; Interpretation and problem solving.

Week 4: Ratio Analysis-Long term Solvency Ratios; General Profitability Ratios; Market based profitability Ratios; Interpretation and Problem solving.

Week 5: Predictive Models using Financial Ratios- Du-Pont Model; Altman’s Model of Bankruptcy; Interpretation and Problem solving.

Week 6: Fund Flow Analysis- Concept; Flow of funds; Schedule of Chanes in working Capital; Funds from Operations; Funds flow statement; Problem solving and implications.

Week 7: Cash Flow Analysis; Introduction and Steps in Cash Flow Analysis- Operating Cash flow; Investing Cash flow; Financing Cash flow.

Week 8: Preparation of Cash Flow Statement; Interpretation and Problem solving; Free cash flow.

Week 9: Financial Forecasting; Introduction and framework, Forecasting Sales, Cost and Funds.

Week 10: Forecasting Income Statement-Methods and Procedures; Problem solving.

Week 11: Forecasting Balance sheet and Cash Flow Statement; Procedures; Preparation of Proforma Balance sheet and Proforma Cash flow Statement.

Week 12: Business Valuation-Overview of models; Asset based valuation models; Discounted Cash flow Valuation model; Abnormal Earning Model; Interpretation and comments

Books and references

  • Financial Statement and Analysis, M.S. Narsimhan, Cengage Publishing.
  • Financial Statement Analysis, K.R. Subramanyam, McGraw-Hill.
  • Management Accounting, Sharma and Gupta, Kalyani Publications.
  • How to Analyze Financial Statements, Ramachandran and Kakani, McGraw-Hill.
  • Financial Statement Analysis and Security Valuation, Stephen Penman, McGraw-Hill.
  • Financial Statement Analysis, Fernando Alvarez, Wiley Finance.

Instructor bio

Prof. Dhananjay Sahu

Banaras Hindu University
Prof. Dhananjay Sahu a professor in the area of finance in Faculty of Commerce, Banaras Hindu University is M.Com, Ph.D and D.Litt. in finance from Utkal University, Bhubaneswar. He is working at BHU since 2006 and has more than 28 years of teaching experience. He has to his credit of public shing research papers in different domains of finance in journals of repute and has guided more than 10 Thesis.


Dr. Meenakshi A. Singh

Dr. Meenakshi A. Singh an Assistant Professor in the area of Finance & Accounting in Faculty of Commerce, Banaras Hindu University is M.Com from Punjab University, Chandigarh and Ph.D in finance from MGKVP, Varanasi. She is working at BHU since 2014 and has more than 18 years of teaching experience. She has to her credit of publishing research papers in different domains of finance in journals of repute.


Dr. Ishi Mohan

Dr. Ishi Mohan an Assistant Professor in the area of Finance & Accounting in Faculty of Commerce, Banaras Hindu University is M.Com and Ph.D in finance from Banaras Hindu University, Varanasi. She is working at BHU since 2014 and has more than 10 years of teaching experience. She has to her credit of publishing research papers in different domains of finance in journals of repute.

Course certificate

The course is free to enroll and learn from. But if you want a certificate, you have to register and write the proctored exam conducted by us in person at any of the designated exam centres.
The exam is optional for a fee of Rs 1000/- (Rupees one thousand only).
Date and Time of Exams: 25 October 2025 Morning session 9am to 12 noon; Afternoon Session 2pm to 5pm.
Registration url: Announcements will be made when the registration form is open for registrations.
The online registration form has to be filled and the certification exam fee needs to be paid. More details will be made available when the exam registration form is published. If there are any changes, it will be mentioned then.
Please check the form for more details on the cities where the exams will be held, the conditions you agree to when you fill the form etc.

CRITERIA TO GET A CERTIFICATE

Average assignment score = 25% of average of best 8 assignments out of the total 12 assignments given in the course.
Exam score = 75% of the proctored certification exam score out of 100

Final score = Average assignment score + Exam score

Please note that assignments encompass all types (including quizzes, programming tasks, and essay submissions) available in the specific week.

YOU WILL BE ELIGIBLE FOR A CERTIFICATE ONLY IF AVERAGE ASSIGNMENT SCORE >=10/25 AND EXAM SCORE >= 30/75. If one of the 2 criteria is not met, you will not get the certificate even if the Final score >= 40/100.

Certificate will have your name, photograph and the score in the final exam with the breakup. It will have the logos of INI and BHU.

Only the e-certificate will be made available. Hard copies will not be dispatched.

Once again, thanks for your interest in our online courses and certification. Happy learning.

- INI Team


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