Understanding Financial Stability Through Numbers
We teach practical liquidity and solvency analysis for professionals working with Bulgarian companies. Real metrics, real scenarios, and the analytical skills that help you read between the balance sheet lines.
Explore Program Details
Core Analysis Components
These aren't accounting courses. We focus on practical interpretation skills that help you assess company stability and make informed recommendations based on financial data.
Current Ratio Deep Dive
Go beyond the basic formula. Learn what different ratio levels actually mean in Bulgarian business context, when red flags appear, and how seasonal patterns affect interpretation.
Working Capital Analysis
Understand cash conversion cycles and how inventory, receivables, and payables interact. You'll analyze real company data to spot liquidity pressures before they become crises.
Debt Structure Assessment
Learn to evaluate long-term solvency through debt ratios, coverage metrics, and capital structure analysis. Each module uses actual Bulgarian SME financial statements.
Learning Through Real Company Data
Every week, you'll work with anonymized financial statements from Bulgarian companies across different sectors. The goal isn't memorization but pattern recognition and analytical judgment.
We use collaborative problem-solving sessions where small groups analyze the same dataset and compare findings. You'll see how different people read the same numbers differently and learn to justify your interpretations.
Review actual financial statements from retail, manufacturing, and service companies
Calculate key ratios and compare against industry benchmarks specific to Bulgaria
Present findings to peer groups and defend your analysis through structured discussion
Program Structure
The sixteen-week program runs from September through December 2025. Sessions happen twice weekly with independent analysis work between meetings.
Weeks 1-4: Liquidity Fundamentals
Start with current and quick ratios, then move into working capital components. You'll analyze how different business models affect liquidity needs and learn to spot warning signs in ratio trends.
Foundation PhaseWeeks 5-8: Cash Flow Analysis
Move beyond the balance sheet to understand cash generation and usage. This section focuses on operating, investing, and financing activities with emphasis on Bulgarian tax and regulatory considerations.
Practical ApplicationWeeks 9-12: Solvency Metrics
Explore long-term financial stability through leverage ratios, interest coverage, and debt service capacity. Case studies include companies facing restructuring and those managing growth financing.
Advanced TopicsWeeks 13-16: Integrated Analysis
Combine everything into comprehensive financial health assessments. Final project involves analyzing a complete financial statement package and presenting recommendations to the group.
Synthesis ProjectWho Teaches This Program
Valentin Dimitrov
Credit Risk AnalystValentin spent twelve years evaluating SME loan applications at regional banks. He brings practical experience in reading financial statements under time pressure and knows which metrics actually predict payment problems.
Elena Stoyanova
Corporate Finance AdvisorElena works with mid-sized Bulgarian companies on financial planning and capital structure decisions. She'll teach you how management teams actually use ratio analysis in strategy discussions and financing negotiations.
Fall 2025 Program Details
Classes begin September 15, 2025 and run through December 22. Sessions meet Tuesday and Thursday evenings from 18:30 to 21:00 at our Radnevo location. You'll need basic familiarity with financial statements but no advanced accounting background.
