Master Financial Statement Analysis Through Real-World Practice
Financial statements tell stories that numbers alone can't reveal. We help accountants, business analysts, and finance professionals read between the lines and spot what matters before decisions get made.
Our approach focuses on the patterns you'll actually encounter when reviewing statements, not just textbook scenarios that rarely appear in practice.
View Our Programs
How We Build Your Analysis Skills
Foundation Assessment
We start by looking at what you already know. Some participants come from bookkeeping backgrounds, others from audit or management roles. This helps us tailor examples to situations you're likely to face. Takes about 90 minutes and includes reviewing actual anonymized statements from various industries.
Ratio Analysis Deep Dive
Ratios are useful, but context matters more than formulas. We spend three weeks exploring liquidity, profitability, and efficiency metrics with emphasis on what different industries consider normal. You'll work through cases where ratios looked fine but problems lurked underneath.
Cash Flow Pattern Recognition
Cash flow statements reveal operational realities that income statements can mask. This module teaches you to spot sustainability issues, recognize aggressive revenue recognition, and identify when working capital changes signal trouble ahead. Includes six practical workshops.
Comparative Analysis Projects
You'll analyze three companies in the same sector over five-year periods. This hands-on work builds pattern recognition skills and shows how business cycles, management decisions, and industry shifts appear in financial data. Most participants find this the most valuable part of the program.
What Sets Our Analysis Training Apart
Many programs teach ratio calculations. We focus on interpretation, context, and the judgment calls that make analysis valuable. Here's what makes our approach different from standard courses.
| Learning Element | zironatava Approach | Traditional Courses |
|---|---|---|
| Statement Sources | Real anonymized statements from various industries with actual complexities | Simplified textbook examples with clean numbers |
| Industry Context | Detailed sector analysis showing normal ranges and red flags specific to retail, manufacturing, services | Generic benchmarks without industry nuances |
| Problem Identification | Cases where statements looked acceptable but issues emerged later | Obvious problems designed for easy detection |
| Group Work | Collaborative analysis sessions with professionals from different backgrounds | Individual assignments with minimal peer interaction |
| Assessment Method | Complete analysis reports with reasoning and alternative interpretations | Multiple choice tests on ratio calculations |
| Practical Application | Six months of optional project review where we examine your workplace analyses | Course ends when last lesson completes |
Meet Your Instructors
Elspeth Viljoen
Senior Financial AnalystSpent fourteen years analyzing statements for lenders and investors. Elspeth knows which warning signs appear months before problems surface and teaches participants to recognize these patterns across different business models.
Rhiannon Swart
Industry SpecialistWorked in audit for manufacturing and retail sectors before transitioning to advisory work. Rhiannon brings practical knowledge about what financial statements reveal about operational efficiency and market positioning.
Program Investment
Our courses run twice yearly with limited enrollment to maintain quality interaction. Next session begins July 2026. Prices shown in South African Rand.
Foundation Level
R 12,500 12 weeks- Core ratio analysis techniques
- Cash flow interpretation basics
- Industry comparison methods
- Eight practical case studies
- Weekly group sessions
- Course materials included
Advanced Analysis
R 18,900 16 weeks- All foundation content included
- Complex financial structure analysis
- Trend and pattern recognition
- Twelve comprehensive case studies
- Individual project review sessions
- Six months post-course consultation
Custom Corporate
R 95,000 Tailored schedule- Team training for up to 12 people
- Content adapted to your industry
- Analysis of your actual statements
- Flexible delivery schedule
- On-site or virtual delivery
- Ongoing support package available
Real Analysis in Practice
Working Through Complex Scenarios
Our workshops use actual financial statements with names removed. You'll encounter the same ambiguities and judgment calls that arise in professional practice.
One recent case involved a retail company with decent ratios but concerning inventory turnover patterns. Participants debated whether seasonal factors or deeper problems explained the numbers. Three months after that workshop, the company announced restructuring.
These discussions teach you to ask better questions and consider multiple interpretations before reaching conclusions.
Learning From Peer Perspectives
Our cohort model brings together professionals with different backgrounds. Auditors notice different things than credit analysts. People with industry experience add operational context that pure finance professionals might miss.
This diversity makes group analysis sessions valuable. You learn to see statements through multiple lenses and understand how different stakeholders interpret the same data.
Many participants say these discussions changed how they approach analysis work more than any individual technique we taught.