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Corporate Finance · Lessons

Corporate Finance lessons

10 sections · 60 skills · work through the full outline skill by skill — read the long-form lesson or flip through the slide-style version.
Long-form lessonsSlide-style lessons

Corporate Finance

Practice 60 skills across this outline.

Recommended next
Trade-Off Theory
Capital Structure · Leverage and Firm Value
Long-form lesson
Weighting distribution
15 categories
Problem-Solving & Corporate Finance Reasoning
10%
Financial Statements and Cash Flows
10%
Working Capital Management
10%
Corporate Valuation
10%
Dividends and Repurchases
10%
Time Value of Money
10%

Skills

The comprehensive taxonomy of corporate finance — drill into a card to work its skills.

Capital Structure · Leverage and Firm Value

4 core skills7% total weight
0/4 completed
4 skills to mastery
1
Trade-Off TheoryRecommended
Long-form
2
Pecking Order TheoryAvailable
Long-form
3
Leverage & Equity RiskAvailable
Long-form
4
Modigliani-Miller (MM) PropositionsAvailable
Long-form

Capital Structure · Financial Distress and Bankruptcy

2 core skills3% total weight
0/2 completed
2 skills to mastery
1
Bankruptcy & Priority of ClaimsAvailable
Long-form
2
Financial Distress CostsAvailable
Long-form

Cost of Capital · Weighted Average Cost of Capital (WACC)

4 core skills5% total weight
0/4 completed
4 skills to mastery
1
Leverage & WACCAvailable
Long-form
2
Computing WACCAvailable
Long-form
3
Market vs. Book Values in WACCAvailable
Long-form
4
Using WACC for ProjectsAvailable
Long-form

Cost of Capital · Cost of Capital Components

4 core skills5% total weight
0/4 completed
4 skills to mastery
1
Cost of DebtAvailable
Long-form
2
Cost of Preferred StockAvailable
Long-form
3
Flotation CostsAvailable
Long-form
4
Cost of EquityAvailable
Long-form

Capital Budgeting · Risk Analysis and Real Options

4 core skills3% total weight
0/4 completed
4 skills to mastery
1
Risk-Adjusted Discount RatesAvailable
Long-form
2
Real OptionsAvailable
Long-form
3
Project Break-Even AnalysisAvailable
Long-form
4
Sensitivity & Scenario AnalysisAvailable
Long-form

Capital Budgeting · Project Evaluation Criteria

5 core skills4% total weight
0/5 completed
5 skills to mastery
1
IRR & LimitationsAvailable
Long-form
2
Payback MethodsAvailable
Long-form
3
NPV & Decision RulesAvailable
Long-form
4
Modified IRR (MIRR)Available
Long-form
5
Profitability IndexAvailable
Long-form

Capital Budgeting · Project Cash Flows

4 core skills3% total weight
0/4 completed
4 skills to mastery
1
Identifying Incremental Cash FlowsAvailable
Long-form
2
Terminal Value ConceptsAvailable
Long-form
3
Working Capital in ProjectsAvailable
Long-form
4
Depreciation Tax ShieldAvailable
Long-form

Problem-Solving & Corporate Finance Reasoning

4 core skills10% total weight
0/4 completed
4 skills to mastery
1
Discount Rate & Cash Flow ConsistencyAvailable
Long-form
2
Common Valuation PitfallsAvailable
Long-form
3
Checking Valuation ReasonablenessAvailable
Long-form
4
Cash Flow Timing & Sign ConventionsAvailable
Long-form

Financial Statements and Cash Flows

5 core skills10% total weight
0/5 completed
5 skills to mastery
1
Interpreting Financial StatementsAvailable
Long-form
2
Non-Cash Expenses & AdjustmentsAvailable
Long-form
3
Working Capital & Cash FlowAvailable
Long-form
4
EBIT, EBITDA & Operating Cash FlowAvailable
Long-form
5
Computing Free Cash FlowAvailable
Long-form

Working Capital Management

5 core skills10% total weight
0/5 completed
5 skills to mastery
1
Receivables & Payables ManagementAvailable
Long-form
2
Net Working Capital & LiquidityAvailable
Long-form
3
Cash Conversion CycleAvailable
Long-form
4
Inventory Management & EOQAvailable
Long-form
5
Short-Term Financing & LiquidityAvailable
Long-form

Corporate Valuation

4 core skills10% total weight
0/4 completed
4 skills to mastery
1
Value DriversAvailable
Long-form
2
DCF ValuationAvailable
Long-form
3
Enterprise vs. Equity ValueAvailable
Long-form
4
Comparable Company MultiplesAvailable
Long-form

Risk, Return, and Asset Pricing · CAPM and Beta

4 core skills6% total weight
0/4 completed
4 skills to mastery
1
Computing & Interpreting BetaAvailable
Long-form
2
Using CAPMAvailable
Long-form
3
CAPM LimitationsAvailable
Long-form
4
Security Market LineAvailable
Long-form

Risk, Return, and Asset Pricing · Risk and Return

3 core skills4% total weight
0/3 completed
3 skills to mastery
1
Expected Return & VarianceAvailable
Long-form
2
Systematic vs. Unsystematic RiskAvailable
Long-form
3
Diversification & CorrelationAvailable
Long-form

Dividends and Repurchases

4 core skills10% total weight
0/4 completed
4 skills to mastery
1
Stock Repurchases vs. DividendsAvailable
Long-form
2
Sustainable Growth RateAvailable
Long-form
3
Dividend Policy & SignalingAvailable
Long-form
4
Payout vs. Retention RatioAvailable
Long-form

Time Value of Money

4 core skills10% total weight
0/4 completed
4 skills to mastery
1
DCF for Uneven Cash FlowsAvailable
Long-form
2
PV & FV: Single Cash FlowsAvailable
Long-form
3
Effective Annual RateAvailable
Long-form
4
Annuities & PerpetuitiesAvailable
Long-form