EODHD Academy

Reading Financial Statements

The three statements from scratch — balance sheet, income statement, and cash flow in full — and how they connect into one honest picture of a business.

4 units · 16 lessons · 51 min read · plus hands-on practice, at your pace

Start here

What does a balance sheet actually show?

The Balance Sheet · 3 min read · foundations

Start the first lesson

Unit 1 The Balance Sheet

  1. What does a balance sheet actually show? 3 min
  2. What counts as an asset versus a liability? 3 min
  3. What is shareholders' equity, really? 3 min
  4. How do you read a real balance sheet without drowning? 3 min
Practice Check · Unit 1 A short check · cannot be failed Start

Unit 2 The Income Statement

  1. What does an income statement actually show? 3 min
  2. How does revenue become net income? 3 min
  3. Can you trust the earnings number? 4 min
  4. How do you read a real income statement over time? 4 min
Practice Check · Unit 2 A short check · cannot be failed Start

Unit 3 The Cash Flow Statement

  1. Why does cash flow matter if we already have profit? 3 min
  2. What are the three sections of the cash flow statement? 3 min
  3. What is free cash flow and why do investors love it? 4 min
  4. How do you read a real cash flow statement? 3 min
Practice Check · Unit 3 A short check · cannot be failed Start

Unit 4 Putting It Together

  1. How do the three statements connect? 3 min
  2. How can healthy-looking statements still mislead? 3 min
  3. What do the statements NOT tell you? 3 min
  4. Reading financial statements — course checkpoint 3 min
Practice Check · Unit 4 A short check · cannot be failed Start

Last Course exam

One exam, the whole course Unlocks when you have read all 16 lessons

Passing it earns the course certificate. It also counts toward the Analyst track (course 1 of 8): pass every course exam in a track to earn its track certificate.