Body of Knowledge

The CFI Body of Knowledge represents the main topics, skills, and abilities required to successfully complete the program. The CFI Program is designed to instill the practical skills required to perform world-class financial analysis.

I. Accounting

Constructing a balance sheet and income statement
Constructing a cash flow statement
Understanding the balance sheet
Understanding the income statement and cash flow

II. Budgeting, Forecasting, FP&A

Budgeting Within a Strategic Framework
Building a Robust Budgeting Process
A Practical Guide to Developing Budgets
Forecasting Techniques
Tracking Budget Performance with Variance Analysis
Applied Budgeting Tools and Techniques in Excel
Financial Modeling Best Practices
Modeling Cash Flows
Building Your Financial Model in Excel
Enhancing Your Model

III. Excel

Excel layout
Excel settings
Basic financial analysis setup
Advanced financial analysis setup
Functions and formulas
Excel tips and tricks
Better formulas
Catering for uncertainty
Auditing a model
Excel template setup
Financial statements
Financial analysis
Macros
Introduction to VBA for financial modeling in Excel
Design, build and run VBA sub procedures
Create customized Excel functions
Branching, looping and procedure code

IV. Finance

Fixed income products and markets
Pricing fixed income securities and duration
Overview of Corporate Finance
Business valuation
Mergers & Acquisitions
Debt financing
Equity financing
Corporate finance careers
Decision making biases and errors
Information processing errors
How decisions are impacted by others

V. Financial Analysis

Vertical and horizontal income statement analysis
Balance sheet and leverage ratios
Cash flow statements and ratios
Rates of return and profitability analysis

VI. Financial Modeling

Financial Modeling
A structured approach to financial modeling
Forecasting income statement and balance sheet items
Debt and financing schedules
Building a free cash flow forecast
Scenario analysis
Sensitivity analysis
Cap Rates and Net Operating Income (NOI)
Land Loans and Construction Loans
Real Estate Development Financial Model
Joint Ventures & Cash Flow Waterfalls
eCommerce Financial Model
Customer Metrics
DCF Valuation Modeling
Introduction to the Mining Industry
Valuation Metrics
Mining Financial Model
M&A Model Structure
Acquirer & Target Models
Transaction Assumptions
Closing Balance Sheet
Pro Forma Financial Model
Accretion & Dilution

VII. Math

Discounted Cash Flow (DCF)
Bond pricing and yields
Key statistical skills
Covariance, correlation and regression

VIII. Presentation

Data Visualization Overview
Visuals
Focus attention
Storytelling
Dashboards
Charts, Tables and Graphs

IX. Valuation

Introduction
Equity Value vs. Enterprise Value
Valuation Multiples
Comparable Company Analysis (Comps)
Precedent M&A Transactions (Precedents)
Discounted Cash Flow (DCF) Analysis
Weighted Average Cost of Capital (WACC)
Presentation of Results

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