Intro
Finishing drywall involves spreading joint compound over the screw or nail holes and joints in the wall to create a smooth, flawless surface. Tape is embedded in the compound over the joints to prevent cracks. The tools and techniques are simple, but creating a smooth surface requires lots of practice. A pro can finish a wall with three coats, but beginners sometimes need to apply more. You'll need three drywall knives: a 6-inch-wide knife for the first coat, a 10-inch for the second coat, and a 12-inch for the final coat or coats. The three knives allow you to feather out the joint -- making it gradually thinner toward the edges so it blends with the wall surface when painted.
The joint compound used to finish drywall joints is commonly called mud. Use ready-mixed joint compound that comes in 5-gallon buckets. Lesser quantities are available for small jobs. Keep the bucket covered at all times so the mud won't dry out. Stir in any water that pools on the surface.
Checklist
Time
For an 8X8-foot wall, about 1-1/2 hours for the first coat, 45 minutes for each subsequent coat
Tools
Mud pan; 6-inch, 10-inch, and 12-inch drywall knives; sanding block or sponge
Skills
Spreading and smoothing joint compound
Prep
Check over wall to make sure all fasteners are sunk below surface
Materials
Joint compound, fiberglass mesh tape, paper tape (for corners), abrasives