Income Statement Red Flag Analyzer

This Excel workbook is the perfect companion to the article “Techniques to Analyze Income Statements.” Designed to bring theory into practice, it helps you identify red flags hidden within financial statements—just like a forensic analyst would.

With built-in logic, color-coded alerts, and commentary fields, this tool allows you to:

• Compare revenue vs. accounts receivable growth
• Flag rising DSO, inventory spikes, and suspicious margin changes
• Diagnose quality of earnings and cash flow mismatches
• Apply investigative thinking to real-world scenarios

Whether you're a student, analyst, or just finance-curious, this workbook helps you analyze income statements with structure, clarity, and a hint of detective flair.