In the world of business, it is important to be able to understand the language of business which is represented by the financial statements of companies (Balance Sheet, Income Statement and Statement of Cash Flow). We will cover the components of financial statements, how they are created and how they can be interpreted. Besides we will review the main challenges of investing and financing decisions and we will apply some financial ratios. As financial information could not be isolated from the strategy of companies, the framework for making strategic and financial business decisions using financial statements will be also covered. The seminar will have a practical approach and we will apply all the concepts to the cases of the club Real Madrid and the leading fashion group of Zara (Inditex Group).