University of Liverpool - Introduction to Finance (ACFI103)

This module, ACFI103: Introduction to Finances provides a foundational understanding of corporate finance, financial markets, and investment decision-making. Students will learn about the goals and governance of firms, the functioning of financial markets, and the importance of finance. Main topics to be covered include the time value of money, valuation of bonds and stocks, investment appraisal techniques, and working capital management. Students will also explore the relationship between risk, return, and the cost of capital, applying portfolio theory to mitigate unsystematic risk and using CAPM to estimate costs of capital, including tax effects on debt. Additionally, the module covers options, including call and put options, European and American options, and their intrinsic values.

ACFI103 is a prerequisite for several advanced modules, including ACFI204, ACFI205, ACFI213, ACFI290, ACFI320, and ECON233. The syllabus covers corporate finance fundamentals, valuation techniques, capital budgeting, and financial decision-making strategies. By the end of the course, students will be equipped with essential finance skills, enabling them to analyse investments, manage risk, and optimise financial performance in corporate settings.