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CFA Level 1 Corporate Issuers

Master all seven learning modules of CFA Level 1 Corporate Issuers — organizational forms, stakeholders, governance, working capital, capital allocation, capital structure, and business models.

🌐 English📚 7 sections

$32

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⏱11h 27m of lessons ≈ about 2 weeks at 45 min/day, or a focused weekend

What you will learn

✓Compare sole trader, partnership, and limited company structures and identify the liability, taxation, and financing implications of each.

✓Distinguish public from private corporate issuers and explain the mechanisms for going public and going private.

✓Compare the financial claims, risk–return profiles, and motivations of lenders and shareholders.

✓Identify a company's stakeholder groups, their interests, and the ESG factors investors consider when evaluating corporate issuers.

✓Explain principal–agent conflicts and the governance mechanisms that manage stakeholder relationships and mitigate risk.

✓Calculate and interpret the cash conversion cycle and evaluate an issuer's liquidity position and working capital management.

✓Calculate NPV, IRR, and ROIC and apply them correctly in the capital allocation process, including recognizing common pitfalls and real options.

✓Calculate and interpret the weighted-average cost of capital and explain the factors that determine the costs of debt and equity.

✓Explain the Modigliani–Miller propositions with and without taxes and describe optimal and target capital structures.

✓Describe the key features and types of business models, including pricing models, value propositions, and platform businesses with network effects.

Course content

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FREE PREVIEW

Organizational Forms — Sole Trader, Partnerships & Limited Companies

Watch this lesson free — no signup needed.

7 sections · 23 lectures · 11h 27m total length

Start with the foundation of how businesses are structured. This module compares organizational forms — from sole proprietorships and partnerships to corporations — and explains the defining features of corporate issuers, including limited liability and separation of ownership from control. You'll finish by contrasting publicly and privately owned issuers and understanding what each structure means for investors.

▶Organizational Forms — Sole Trader, Partnerships & Limited CompaniesPREVIEW24:51

▶Key Features of Corporate Issuers — Legal Identity, Liability, Financing & Taxation23:08

▶Public vs. Private Issuers, Going Public/Private & the Varieties of Corporate Owners28:01

Requirements & what's included

●Fully aligned to CFA Level 1 curriculum for Corporate Issuers, covering all seven learning modules and their Learning Outcome Statements.
●30 sessions in total: 23 teaching lectures plus 7 dedicated practice review sessions, one per module.
●Every module ends with a review session working through practice problems with complete solution reasoning.
●Quantitative modules (working capital, capital allocation, capital structure) include step-by-step worked examples for every calculation type tested.
●Each lecture identifies common exam traps, including liability by organizational form, debt-versus-equity claims, agency-conflict direction, and NPV–IRR conflicts.
●Relationship structures — stakeholder maps, principal–agent webs, governance mechanisms, and the cash conversion cycle — are taught through purpose-built diagrams.
●No prior corporate finance knowledge is required; the course builds from organizational forms upward.
●Basic familiarity with time value of money concepts (covered in Quantitative Methods) is helpful for the NPV, IRR, and WACC lectures.
●A financial calculator (BA II Plus or equivalent) is recommended for the quantitative modules.
●Suitable for CFA Level 1 candidates and for finance professionals seeking a structured foundation in corporate finance.

About this course

This course covers the complete Corporate Issuers topic area of the CFA Level I curriculum across seven learning modules, delivered through 23 focused video lectures.

The course opens with the qualitative foundations: how businesses are organized — sole traders, partnerships, and limited companies — what distinguishes corporate issuers, and how public and private ownership differ. From there, it builds the stakeholder framework: the financial claims of lenders versus shareholders, the interests of each stakeholder group, and the ESG factors investors evaluate. This leads into corporate governance — principal–agent conflicts, the mechanisms that manage them, and the risks and benefits of governance quality.

The quantitative core follows. You will work through the cash conversion cycle and liquidity measurement, the capital allocation toolkit of NPV, IRR, and ROIC, real options, the weighted-average cost of capital, and the Modigliani–Miller propositions with and without taxes — ending with optimal and target capital structures. The course closes with business models: their key features, pricing and revenue models, value propositions, and platform and network-effect structures.

How Every Lecture Is Built

Each lecture follows a consistent structure: why the concept matters, mapping to the CFA Learning Outcome Statements, core exposition built on diagrams and comparison tables, worked examples wherever the curriculum is quantitative, common exam traps, and a recap. Every module ends with a dedicated review session working through practice problems with full solution reasoning.

Who It's For

The material is fully aligned to the current CFA Level I curriculum and suits candidates preparing for the exam as well as finance professionals seeking a structured grounding in corporate finance fundamentals.