CFA® L1 — Corporate Issuers
Capital structure, working capital, dividend policy, ESG, and the corporate-finance fundamentals every analyst is expected to know cold.
Quick info
- Layer
- Professional Certifications
- Track
- CFA® Level 1
- Estimated hours
- 25 hrs
- Chapters
- 6
- Exam body
- CFA Institute
- Cost on Trustner
- Free
The full chapter-by-chapter syllabus is published below so you know exactly what you're committing to. Individual lesson pages are being authored progressively over the coming weeks. Bookmark this page or browse all courses.
About this course
Capital structure, working capital, dividend policy, ESG, and the corporate-finance fundamentals every analyst is expected to know cold.
Who this is for
- CFA L1 candidates.
- Corporate-finance and CFO-track professionals.
What you'll learn
- Capital structure decisions and the cost of capital
- Working-capital management and liquidity
- Dividend policy and share repurchase
- ESG considerations in corporate analysis
Full syllabus — 6 chapters
- 1Reading 1
Introduction to corporate governance
- Stakeholders and conflicts
- ESG framework
- 2Reading 2
Capital structure
- Modigliani-Miller propositions
- Trade-off and pecking-order theories
- 3Reading 3
Cost of capital
- Cost of debt, equity, preferred
- WACC and marginal cost
- 4Reading 4
Capital investments
- NPV, IRR, payback, profitability index
- Capital-rationing decisions
- 5Reading 5
Working-capital management
- Cash conversion cycle
- Short-term financing alternatives
- 6Reading 6
Dividend policy and share repurchase
- Theories of dividend irrelevance and signalling
- Buyback mechanics
About the exam
- Provider
- CFA Institute
Note: ~8-12% of CFA L1 weight.
The exam is administered by CFA Institute. Trustner Academy is not affiliated with CFA Institute; we provide independent preparatory educational material. See our disclaimer.
More from CFA® Level 1
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CFA® L1 — Economics
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CFA® L1 — Financial Statement Analysis
Reading balance sheets, income statements, and cash flows the way analysts do. The most exam-weighted topic in Level 1.
CFA® L1 — Equity Investments
Markets, indices, equity valuation, industry analysis. The introduction to equity investing that L2 builds heavily on.