Buffett's acquisition criteria for large purchases include businesses that earn at least $50 million annually, have consistent earnings, earn good returns with little debt, have existing management, operate simple businesses, and have an agreeable offering price. Buffett defines intrinsic value as the discounted value of cash that can be taken from a business over its life. He warns investors to beware of weak accounting, unintelligible footnotes, and exaggerated growth projections from management.

1. Module 1: Introducing Financial Accounting for MBAs

5. Business Activities

8. Examples of Company Financing

10. Breakdown of Creditor Financing

12. Breakdown of Operating and Financial Assets

13. The Accounting Equation

17. Financial Statements

19. Berkshire Hathaway’s Balance Sheet

21. Berkshire Hathaway’s Income Statement

23. Berkshire Hathaway ’s Statement of Stockholders’ Equity

25. Financial Statement Linkages

27. Buffet on MD&A

31. Market Efficiency

33. Disaggregating Return on Assets

34. Profit Margin, Asset Turnover, and Return on Assets for Selected Industries

36. Five Forces of Competitive Intensity

37. Business Context for Financial Statements