In an attempt to provide more information to lenders and investors financial statements and associated notes are often lengthy.However, the volume of information and the way in which it is presented can be confusing, particularly with groups with complex ownership structures and substantial intragroup transactions. Even worse, as there is scope for how the items in the financial statements are recognised within the accounting rules, there is the ever present risk of creative accounting. A risk that increases when we are a late stage in an economic cycle. A very recent example of alleged creative accounting is well illustrated by the problems facing  Patissserie Valerie https://www.bbc.co.uk/news/business-46965761

For a refresher on the structure of financial statements and indicators of potential creative accounting please take a look at the video on this post and subscribe to the webinar series on Essential elements of financial and qualitative risk assessment at a time of rapid and disruptive change. Here is a link to  a free download  introducing the the webinar  https://m-training.thinkific.com/courses/corporate-financial-analysis-free-introductory-session

You can also download a brief summary of the webinar content via this link Course brochure, 01.19- Final