Can somebody provide a list of components/tools needed to build a PC. and by the way what are the specifications I need to look for when choosing a cooler/heatsink so it fits and performs correctly?

CasePower SupplyMotherboardCPUMemoryGraphics CardDVD driveHard DriveSound CardSpeakersKeyboardMouseExtra case fans for coolingAnti-static wrist strap (though I have built computers for myself without one)Thermal PasteOperating system

And a monitor :)Heatsink depends on the socket/cpu.

Note that the latest Motherboards have excellent on board sound so you will likely not need a sound card. Also, most third party CPU coolers come with thermal paste and a good case will have the fans included.Mark.