Summary Course Note - WSO Financial Statement Analysis

A textbook-style refresher built on the WSO Financial Statement Modeling curriculum. Structured for front-office IB recruiting (Hong Kong I UK I Europe summer internships). How to use this note: The WSO course is, at heart, a single extended exercise: build a fully integrated threestatement model from scratch and make it balance - even when every line feeds into every other line. Each module adds one more piece of the machine. This note follows the same build order, because the order is itself the lesson: you cannot project the cash flow statement until you have the income statement and the balance-sheet schedules, and you cannot finish the income statement until you have solved the debt schedule's interest figure. Read it in two passes. First pass: read the prose to rebuild your intuition for why each line exists and how the three statements talk to each other. Second pass: drill the sign conventions and the interview prompts at the end of each chapter, because those are where candidates actually lose points.