About this Course
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Approx. 25 hours to complete

Suggested: 2-4 hours/week...


Subtitles: English

Skills you will gain

Corporate FinanceProjectFinanceMergers And Acquisitions (M&A)

100% online

Start instantly and learn at your own schedule.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Approx. 25 hours to complete

Suggested: 2-4 hours/week...


Subtitles: English

Syllabus - What you will learn from this course

1 hour to complete

Course Overview

In this module, you will become familiar with the course, your instructor, your classmates, and our learning environment. The orientation also helps you obtain the technical skills required for the course.

1 video (Total 9 min), 5 readings, 1 quiz
5 readings
About this Course: Ratings and Reviews10m
About the Discussion Forums10m
Getting to Know Your Classmates10m
1 practice exercise
Orientation Quiz10m
6 hours to complete

Module 1: The Objective of the Corporation and Analysis of Financial Ratios

In Module 1, we will discuss the objectives of the corporation. We will introduce the concept of shareholder value and discuss the pros and cons of maximizing stock prices. We will then learn how to calculate financial ratios that measure concepts such as liquidity, leverage, and profitability. We will work with accounting statements and financial data from real world companies and learn how to use this data to measure the financial health of companies and make comparisons with competitors.

15 videos (Total 112 min), 3 readings, 5 quizzes
15 videos
The Agency Problem and Corporate Governance8m
Balance Sheet Ratios: Introduction4m
Balance Sheet Ratios: Liquidity11m
Balance Sheet Ratios: Solvency12m
Income Statement Ratios: Profitability13m
Cash Flow Statement Ratios10m
Valuation Ratios10m
Module 1 Review2m
Like this course? Learn more with the iMBA! (optional)1m
Like this course? Learn more with the iMBA! (Optional)1m
Assignment 1 Overview2m
Assignment 1 Discussion10m
3 readings
Module 1 Overview10m
Module 1 Readings10m
Module 1 Spreadsheets and Other Resources10m
4 practice exercises
Module 1 Practice Quiz 18m
Module 1 Practice Quiz 216m
Module 1 Practice Quiz 316m
Module 1 Quiz30m
5 hours to complete

Module 2: Financial Planning

In Module 2, we will learn models that allow us to forecast and manage a company's short-term investments such as capital expenditures. We will forecast the future financial statements of a real world company and learn how to figure out how much external financing the company will need. We will then use real world examples to learn how short-term investments in working capital determine a company's need for short-term financing.

14 videos (Total 114 min), 3 readings, 5 quizzes
14 videos
Forecasting Cash Flow Statements9m
Forecasting Balance Sheets8m
Raising Long-Term Financing: Discussion9m
Investments in Working Capital6m
Working Capital Ratios8m
Short-Term Financial Planning: Inventory11m
Seasonality and Receivables10m
Accounts Payable and Liquidity Risk13m
Module 2 Review3m
Assignment 2 Overview2m
Assignment 2 Discussion11m
3 readings
Module 2 Overview10m
Module 2 Readings10m
Module 2 Spreadsheets and Other Resources10m
4 practice exercises
Module 2 Practice Quiz 110m
Module 2 Practice Quiz 210m
Module 2 Practice Quiz 312m
Module 2 Quiz24m
6 hours to complete

Module 3: Making Investment Decisions

In Module 3, we will learn tools that allow us to measure the contribution of a new investment to shareholder value. We will learn how to calculate the net present value (NPV) of an investment and how to use the NPV to make a decision on whether to make the investment or not. We will also learn to calculate the rate of return (IRR) on an investment project and how to properly use the IRR in investment decisions. Finally, we will learn how to incorporate real options into investment analysis to be able to make decisions about investments such as R&D (research and development).

15 videos (Total 148 min), 2 readings, 6 quizzes
15 videos
Calculating NPV in Excel4m
The Relationship Between NPV and Shareholder Value7m
The Internal Rate of Return (IRR)11m
Using the IRR to Evaluate Investments6m
Problems with the IRR11m
Additional Examples18m
Real Options - Valuing R&D15m
The Option to Wait - Gold Mine Example14m
The Option to Abandon a Project8m
Module 3 Review2m
Assignment 3 Overview2m
Assignment 3 Discussion15m
2 readings
Module 3 Overview10m
Module 3 Readings10m
5 practice exercises
Module 3 Practice Quiz 112m
Module 3 Practice Quiz 212m
Module 3 Practice Quiz 312m
Module 3 Practice Quiz 412m
Module 3 Quiz28m
7 hours to complete

Module 4: Mergers and Acquisitions, Risk, and Performance Evaluation

In Module 4, we will apply our investment valuation tools to understand when a merger between two companies creates shareholder value. We will learn to distinguish between good and bad reasons for companies to engage in mergers and acquisitions (M&A), and we will learn how to price an M&A deal. We will also learn the specific characteristics of leveraged buyouts (LBOs) and how they can create value for shareholders. We will then learn how to incorporate risk into investment valuation by changing discount rates. We will calculate the weighted-average cost of capital (WACC) for a real world company and learn how to use WACC to value investments and to measure the performance of the company or a division of the company.

15 videos (Total 168 min), 3 readings, 5 quizzes
15 videos
Means of Payment and Stock Market Reaction to M&A Deals14m
Leveraged Buyouts17m
Sensitivity Analysis14m
Using Discount Rates to Incorporate Risk Into the Valuation12m
Estimating the Required Return on Equity - The Market13m
Estimating the Required Return on Equity - The Company12m
Estimating the WACC7m
Performance Evaluation: Economic Value-Added (EVA)7m
Using EVA to Measure Performance of a Company's Division13m
Module 4 Review2m
Assignment 4 Overview3m
Assignment 4 Discussion12m
3 readings
Module 4 Overview10m
Module 4 Readings10m
Module 4 Spreadsheets and Other Resources10m
4 practice exercises
Module 4 Practice Quiz 120m
Module 4 Practice Quiz 216m
Module 4 Practice Quiz 312m
Module 4 Quiz30m
7 minutes to complete

Course Conclusion

1 video (Total 7 min)
1 video
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Top reviews from Corporate Finance I: Measuring and Promoting Value Creation

By ASJun 12th 2019

An excellent course and probably one of the finest on offer. Valuable learnings even for finance professionals like me. Highly recommended for all management students and managers.

By SKFeb 12th 2019

In-depth content covering very broad areas of Corporate Finance. Specially the honors assignment makes you think of different scenarios which really makes it interesting and fun.



Heitor Almeida

Professor of Finance, Stanley C. and Joan J. Golder Chair in Corporate Finance
Department of Finance, College of Business

Start working towards your Master's degree

This course is part of the 100% online Master of Business Administration (iMBA) from University of Illinois at Urbana-Champaign. If you are admitted to the full program, your courses count towards your degree learning.

About University of Illinois at Urbana-Champaign

The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs. ...

About the Financial Management Specialization

This Specialization covers the fundamentals of strategic financial management, including financial accounting, investments, and corporate finance. You will learn to evaluate major strategic corporate and investment decisions and to understand capital markets and institutions from a financial perspective, and you will develop an integrated framework for value-based financial management and individual financial decision-making. The Financial Management Specialization is part of the University of Illinois iMBA Program. Each course in this Specialization also fulfills a portion of the requirements for a University of Illinois course that can earn you college credit. When you complete the Financial Management Specialization, you will: · Have a solid foundation in developing an integrated framework for strategic financial decision-making. · Have a thorough understanding of financial statements and the financial information they provide, and be able to critically evaluate and analyze cash flows statements. · Understand the management and evaluation of portfolios and firm valuation techniques. · Understand how to incorporate risk and uncertainty into investment decisions and understand how companies make financing and investment decisions....
Financial Management

Frequently Asked Questions

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  • When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

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