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Introduction to Corporate Finance

Daniel Wolfenzon

4.6

Based on 64 ratings

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Daniel Wolfenzon

In this course, you will gain an understanding of time-honored financial concepts and rules, and how these can be applied to value firms, bonds, and stocks.

We will cover the time value of money, cost of capital and capital budgeting. You will be using Excel for many process including valuing bonds and stocks, computing NPV and finding IRR.

An introductory finance course that is required for all first-year MBA students at Columbia Business School, the course is taught by a world-class instructor, actively training the next generation of market leaders on Wall Street.

In this course, you will gain an understanding of time-honored financial concepts and rules, and how these can be applied to value firms, bonds, and stocks.

We will cover the time value of money, cost of capital and capital budgeting. You will be using Excel for many process including valuing bonds and stocks, computing NPV and finding IRR.

Participants from all backgrounds will be prepared to participate on the ever-evolving financial playing field.

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What's inside

Learning objectives

How to value any asset
Decide which projects to take out of the many a corporation might be considering
Compute the return on any project

Compute the value that a project adds
Value a bond and compute its yield
Value a stock using a simple model (i.e., determine the fair price of a stock)

How to value any asset
Decide which projects to take out of the many a corporation might be considering
Compute the return on any project
Compute the value that a project adds
Value a bond and compute its yield
Value a stock using a simple model (i.e., determine the fair price of a stock)

Syllabus

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what should give you pause

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Introduces fundamental financial principles used by professionals on Wall Street

Covers essential concepts like time value of money, cost of capital, and capital budgeting

Provides hands-on experience valuing stocks and bonds using Excel

Taught by a world-class instructor from Columbia Business School

Suitable for individuals from diverse backgrounds seeking to enhance their financial literacy

Course assumes no prior knowledge of finance

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Reviews summary

Foundational corporate finance with practical excel

According to students, this introductory corporate finance course offers a clear and concise understanding of core concepts. Learners consistently highlight the world-class instructor's ability to simplify complex topics like the time value of money, NPV, and IRR. The practical application through Excel exercises is frequently praised as a significant strength, making the theoretical knowledge tangible. While it serves as a strong foundation for beginners and those without a finance background, some indicate that more advanced learners might find it too basic or that certain topics, like bond and stock valuation, feel rushed. Overall, it's considered an excellent starting point for a career in finance.

Provides an excellent foundational understanding for newcomers.

"This course is a true gem for anyone looking to understand finance. My background is in marketing, and I felt completely at ease."

"Highly recommend for beginners! This course made corporate finance approachable."

"As a non-finance background individual, this course was a godsend. It provided a very strong foundation."

Integrated Excel exercises enhance practical understanding and application.

"I loved the Excel applications, they were super practical."

"The hands-on Excel exercises were particularly useful for solidifying my understanding of the concepts."

"The use of Excel was a practical bonus; I learned how to use practical tools and strategies that I could apply immediately to my work."

Complex financial concepts are explained with remarkable clarity.

"The instructor's explanations are incredibly clear, breaking down complex topics like NPV and IRR into digestible parts."

"This course made corporate finance approachable. The explanations, especially for time value of money, were crystal clear."

"The instructor's explanations are unparalleled; they provide a very strong foundation and make me feel confident about continuing my finance learning."

More experienced learners may find the content too basic or rushed.

"Found it too basic for my needs. I already work in finance and was hoping for more advanced applications or case studies."

"I found the bond and stock valuation a bit rushed towards the end. It's a solid start, but don't expect to be an expert."

"It's good for absolute beginners but if you have any prior finance knowledge, it might feel a bit slow or too basic."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Introduction to Corporate Finance with these activities:

Review Probability and Statistics Concepts

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Refresh your understanding of fundamental probability and statistics concepts, laying a strong foundation for comprehending the probabilistic nature of financial markets and risk assessment.

Browse courses on Probability

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Review basic probability concepts, such as probability distributions and Bayes' theorem
Recall key statistical concepts, including mean, variance, and correlation

Excel Functions for Financial Analysis

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Enhance your proficiency in using Excel functions specific to financial analysis, empowering you to efficiently perform calculations and enhance your modeling skills.

Browse courses on Excel Functions

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Explore Excel functions such as NPV, IRR, and PMT
Learn how to use these functions to solve financial problems
Apply these functions in practice by completing tutorial exercises

Discussion Group on Capital Budgeting

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Engage in peer discussions to exchange ideas, clarify concepts, and deepen your understanding of capital budgeting techniques and their significance in business decision-making.

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Join a discussion group with other students
Read and prepare the assigned materials on capital budgeting
Participate actively in discussions, sharing insights and perspectives

Five other activities

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Calculate Net Present Value

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Strengthen your understanding of NPV calculations, a fundamental tool used to evaluate the profitability of investments and projects.

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Review the formula for calculating NPV
Practice calculating NPV using different cash flows and discount rates

Workshop on Financial Modeling Best Practices

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Attend a workshop led by an industry expert, gaining practical guidance and insights on best practices for developing robust and reliable financial models.

Browse courses on Financial Modeling

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Register for the workshop
Attend the workshop and actively participate in discussions
Apply the best practices learned to your own financial modeling projects

Review Cash Flow Statement

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Master how to analyze cash flow statements from a practitioner's perspective, reinforcing the ways in which this process aids decision-making and improving your knowledge of the time value of money.

View The Little Book of Picking Top Stocks: How to... on Amazon

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Read chapters 1-3 of the book
Identify the key components of a cash flow statement
Interpret cash flow statements
Apply cash flow statement analysis to financial modeling

Financial Model for Investment Analysis

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Develop proficiency in building financial models to analyze investment opportunities, allowing you to make informed decisions regarding project selection.

Browse courses on Financial Modeling

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Identify the key assumptions and variables for the investment
Build a financial model using Excel or another modeling tool
Conduct sensitivity analysis to assess the impact of changes in key variables
Present the results of the financial analysis in a clear and concise manner

Stock Valuation Project

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Gain hands-on experience in valuing stocks using various methods, enabling you to make informed investment decisions in the real world.

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Select a stock to analyze
Research the company and industry
Use different valuation methods to determine the fair value of the stock
Write a report summarizing your findings and recommendations

Career center

Learners who complete Introduction to Corporate Finance will develop knowledge and skills that may be useful to these careers:

Investment Banker

Investment Bankers combine their knowledge on how to appraise and value assets with their financial models to help institutions and companies with their investments. Entities large and small seek out Investment Bankers to aid them in making the best decision for their future. As a result, they handle mergers, acquisitions, and other important transactions for institutions, governments, and corporations. Those who wish to enter into Investment Banking should take this course as it builds a foundation for understanding asset and company valuation, which is their primary focus. This course is particularly useful for Investment Bankers because it teaches how to use financial models to decide whether or not to acquire a company or how to determine fair value.

See salaries and explore the career path for Investment Banker

Financial Analyst

Financial Analysts apply their knowledge of financial models and valuation to assess and project an organization's financial performance and make recommendations on investments. They may also evaluate and analyze the strengths and weaknesses of companies, and how well they perform compared to competitors. Those who wish to become Financial Analysts should take this course as it would help them learn how to crunch balance sheets, create financial models, and make recommendations based on the financial performance of a company.

See salaries and explore the career path for Financial Analyst

Equity Research Analyst

An advanced degree is recommended but not necessary for someone looking to get into this role. Equity Research Analysts assess the value of, make recommendations on, and often follow companies and industries. They use their financial knowledge and modeling to determine a stock's fair value. Heavy knowledge of finance is essential to succeed in this career, and this course would provide a strong background in the subject. Those looking to become Equity Research Analysts are encouraged to take this course to learn how to model out a company's value and how to create buy and sell recommendations.

See salaries and explore the career path for Equity Research Analyst

Portfolio Manager

Portfolio Managers help grow and preserve the money of their clients by managing their financial assets and making investment decisions. They utilize their knowledge of finance and valuation to generate optimal returns. Understanding the value of a stock, bond, derivative, and a firm itself, is of paramount importance to the success of a Portfolio Manager. This course, which focuses on teaching learners how to model and value assets and financial instruments, would be quite beneficial. It would give learners a head start in their understanding of the building blocks of the financial system.

See salaries and explore the career path for Portfolio Manager

Venture Capitalist

Venture Capitalists invest in new businesses or early-stage companies, and provide both financing and advisory services. They evaluate the fundamentals of a company, its leadership, and its financial projections. They must also decide which companies and industries are most likely to grow and generate a return on their investment. Those who wish to become Venture Capitalists can benefit from this course since it will teach them how to value companies and how to assess risk.

See salaries and explore the career path for Venture Capitalist

Private Equity Investor

Private Equity Investors invest in private or non-listed companies, either by buying a stake in an existing company, or by financing the start-up of a new business. They often seek opportunities for growth, and look for companies that are undervalued or not reaching their full potential. Understanding how to value a company is essential to this role, which is why those who wish to become Private Equity Investors should take this course.

See salaries and explore the career path for Private Equity Investor

Financial Advisor

Financial Advisors help clients manage their finances, make prudent investment decisions, and plan for future financial goals, such as retirement. They also may provide advice on insurance, tax planning, real estate, and other personal finance matters. Those who aim to become Financial Advisors can benefit from this course as it provides a foundation in the fundamentals of finance and how to value different types of companies.

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Financial Risk Manager

Financial Risk Managers are responsible for assessing and mitigating financial risks within a company. They create financial models and strategies which can help the company avoid financial losses due to uncertain future events. Those who want to become Financial Risk Managers can benefit from this course as it teaches how to create financial models and how to use management techniques to avoid risk.

See salaries and explore the career path for Financial Risk Manager

Budget Analyst

Budget Analysts create and manage budgets, as well as develop and implement financial plans, for businesses and governments. They must have a thorough understanding of accounting principles, financial markets, and cost-benefit analysis. Those who wish to become Budget Analysts should take this course since it covers topics such as time value of money, capital budgeting, and return on investment, which are essential to the role of a Budget Analyst.

See salaries and explore the career path for Budget Analyst

Investment Associate

Investment Associates assist Portfolio Managers in making investment decisions. They must have a strong understanding of financial analysis, investment strategies, and risk management. Those who wish to become Investment Associates should take this course since it focuses on topics like asset valuation, capital budgeting, and return on investment, all of which are key areas of focus for those in this role.

See salaries and explore the career path for Investment Associate

Financial Planner

Financial Planners help clients make sound financial decisions and prepare for their financial future. They provide advice on investments, retirement planning, tax planning, insurance, estate planning, and other financial matters. This course will be useful for those looking to become Financial Planners, as it covers topics that are essential to their role, such as time value of money, risk management, and investment strategies.

See salaries and explore the career path for Financial Planner

Actuary

Actuaries use their financial knowledge, statistical skills, and mathematical modeling to assess and manage financial risk and uncertainty. They analyze data to estimate the likelihood and financial impact of future events, and then use this information to develop and implement risk management strategies. Those seeking an Actuary role will find this course to be useful as it provides a foundation in mathematics, statistics, and economics, all of which are essential to the role of an Actuary.

See salaries and explore the career path for Actuary

Credit Analyst

Credit Analysts assess the creditworthiness of individuals, corporations, or governments. They use their financial knowledge and analytical skills to evaluate the likelihood that a borrower will repay their debts. This course may also be useful for those seeking a role as a Credit Analyst, as it provides a foundation in financial analysis and risk management.

See salaries and explore the career path for Credit Analyst

Economist

Economists study economic systems and human behavior to analyze and predict economic trends. They collect and analyze data and use it to identify economic problems and develop solutions. Those seeking an Economist role may find this course to be useful as it provides a foundation in economics, which is essential to the role of an Economist.

See salaries and explore the career path for Economist

Market Research Analyst

Market Research Analysts study market trends and customer behavior to help businesses make informed decisions about their products and services. This course may be useful for Market Research Analysts as it provides a foundation in economics and statistics, both of which are essential to the role of a Market Research Analyst.

See salaries and explore the career path for Market Research Analyst

Reading list

We've selected 13 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Introduction to Corporate Finance.

Bond Markets, Analysis, and Strategies, tenth...

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This comprehensive handbook provides a detailed and up-to-date reference on all aspects of fixed income securities. It would be a valuable resource for students who want to gain a thorough understanding of the fixed income market and its complexities.

Bond Markets, Analysis, and Strategies, tenth...

Hardcover

$$$$

Bond Markets, Analysis, and Strategies, tenth...

Kindle Edition

$$$

Modern Portfolio Theory and Investment Analysis,...

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Provides a comprehensive overview of modern portfolio theory and its applications in investment analysis. It would be a valuable resource for students who want to gain a deeper understanding of portfolio management and how to construct and manage efficient portfolios.

Introduction to Corporate Finance

What's inside

Learning objectives

Syllabus

Traffic lights

Save this course

Reviews summary

Foundational corporate finance with practical excel

Activities

Career center

Reading list

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