Reading Financial Statements Without the Headache

Balance sheets don't have to be intimidating. We teach Bangkok professionals how to spot real opportunities and risks hiding in annual reports. Our October 2025 program focuses on practical skills you'll actually use.

View Program Details

Financial analysis workspace showing trading charts and market data

What Students Tell Us After Three Months

We asked recent graduates what changed. Here's what they said about analyzing company financials in Bangkok's market.

I can now look at a SET-listed company's quarterly report and understand whether the growth story makes sense. That wasn't possible before.

Apinya Srisombat, Investment Analyst

The cash flow section used to be this mysterious part I'd skip. Now it's the first thing I check because it tells you what's really happening.

Thanat Wongsuwan, Portfolio Manager

Learning to spot red flags in footnotes has saved me from at least two bad stock picks this year. Those details matter more than I realized.

Siriporn Chaiyo, Private Investor

My boss noticed I was asking better questions during earnings calls. The program helped me understand what metrics actually drive our sector.

Kritsada Phongsri, Financial Analyst

What You'll Learn to Do

Income Statement Reality Check

Revenue looks impressive, but where's it coming from? We teach you to dig into segment reporting and recognize when growth might not be sustainable.

Balance Sheet Deep Dive

Assets minus liabilities equals... complexity. Most people stop there. We show you what assets are actually liquid, which debts need attention, and how to read the working capital story.

Current ratio calculations that matter
Debt structure analysis for SET companies
Asset quality assessment techniques
Understanding Thai corporate governance notes

Cash Flow Analysis

Operating cash flow tells one story. Investing activities tell another. We connect these dots so you understand where money actually moves.

Ratio Analysis That Works

ROE, ROA, EBITDA margins—these only mean something in context. Learn which ratios matter for which industries and how to spot unusual patterns.

Reading Between the Lines

Management discussion sections contain clues. Auditor notes raise flags. Related party transactions need scrutiny. We practice identifying what deserves your attention.

Footnote analysis strategies
Management tone assessment
Risk disclosure interpretation

Thai Market Context

SET reporting has its own quirks. Family business structures affect statements differently. We cover what makes analyzing Thai companies unique.

How Our Sessions Actually Work

Forget lecture halls. Each week you get real financial statements from companies operating in Thailand. Sometimes these are well-managed firms. Sometimes they're heading for trouble.

Your job? Figure out which is which. We spend two hours analyzing together, comparing notes, and discussing what the numbers reveal. You'll work through balance sheets from property developers, retailers, manufacturers—companies with actual stories.

By month three, you're presenting your own analysis to the group. It's uncomfortable at first. But that's when real learning happens—when you have to defend your interpretation of the cash flow statement or explain why you trust (or don't trust) management's guidance.

Classes run Tuesday and Thursday evenings starting September 2025, with weekend workshops once monthly for deeper case studies.

Financial trading platform displaying real-time market analysis and stock charts

Woravit Laohapoonrungsee

Senior Financial Educator

Spent eleven years as an equity analyst covering Thai listed companies before moving into education. Still consults for two investment firms, which keeps the course material current.

What I've noticed: most people can calculate ratios just fine. The hard part is knowing what questions to ask when something looks off. That's what I focus on teaching—the investigative mindset that makes you a better analyst.

Outside of finance, I restore vintage motorcycles. It's surprisingly similar work—diagnosing problems requires the same systematic approach whether you're reading a balance sheet or troubleshooting an engine.

Ready to Stop Guessing?

Our next program begins October 7, 2025 in Bangkok. Sixteen weeks, thirty-two sessions, countless financial statements. Space limited to eighteen participants because group discussion matters.

See Full Curriculum Ask Questions