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Understanding Financial Statements and Company Performance: Finance for Non-Finance People

This course provides a comprehensive exploration of financial statements, their structure, and the underlying double-entry accounting system that links each business transaction to specific parts of the financial reports. Participants will develop practical skills to analyze historical financial performance and make informed decisions regarding a company’s future economic and operational sustainability. Additionally, the course covers essential aspects of monitoring corporate performance through budget execution and the implementation of long-term strategic goals.

Closest course start

14.10.2026

Course Times

  • October 14, 2026, from 1:00 PM to 5:00 PM
  • Riga Busness School, Ķīpsalas Street 6, Riga

Course Goals

This course is designed for non-financial professionals seeking a solid understanding of corporate financial statements — their structure, content, and key components. Participants will learn how to analyze a company's financial position, performance, and cash flows, as well as evaluate its financial health, growth potential, and associated risks. The course will also enhance participants’ ability to calculate and interpret key financial ratios, including profitability, liquidity, and solvency, from both short- and long-term perspectives.

Course Learning Outcomes

  • Thorough decision-making skills based on the decomposition of financial statements and their subsequent financial analysis.
  • Identification and monitoring of liquidity, solvency, and fraud risks.
  • Evaluation of short-term performance based on budget execution and the success or failure of implementing long-term strategic plans.

Course content

1.

lecture

The Forms and Structure of Financial Statements
• Statement of Financial Position (Balance Sheet)
• Statement of Comprehensive Income
• Statement of Changes in Equity
• Cash Flow Statement
• Notes to the Financial Statements

Decomposition of Financial Statements and Their Analysis
• Key principles of the balance sheet
• Current and non-current assets
• Equity components
• Short- and long-term liabilities
• Profit and Loss Statement
• Comprehensive income and OCI (Other Comprehensive Income)
• Continuing and discontinued operations
• Classification of cash flows:
   • Operating activities
   • Investing activities
   • Financing activities

The Concept of the Double-Entry System
• Basic principles of business transactions
• The concept of debit and credit
• Accounting equation fundamentals

Financial Analysis Concepts
• Working capital and liquidity analysis
• Profitability and margin ratios
• Solvency and leverage ratios
• Monitoring credit risk
• Monitoring market risk
• Monitoring liquidity risk

Business Decision-Making Based on Financial Information
• The going concern principle
• Understanding independent auditor’s reports
• Dividend distribution decisions
• Mergers and acquisitions (M&A) basics

Edgars Voļskis

Edgars Volskis is Head of Risk and Financial Advisory Department at BDO Latvia. Edgars has 25 years of experience in international consulting in the financial sector. At the same time, Edgars is a lecturer at RBS, teaching financial and management accounting courses in the BBA, MBA and EMBA programmes, as well as involved in the RBS AI Studio development project. Edgars attended the School of Computer Science and Engineering at the University at Buffalo, USA, where he studied several computer science disciplines, including the AI Startup course.

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