Fundamentals of Investment Appraisal
This new short text by the authors of Investment Appraisal and Financial Decisions focuses on investment appraisal decisions. Fundamentals of Investment Appraisal examines the internal workings of a company rather than covering the much broader subject of financial management. Theory is illustrated with numerous worked examples, followed by a chapter summary, quick questions - all answered at the end of the book - and more detailed practice questions.
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Corporate objectives management objectives and
Strategic planning and the finance function
Traditional methods of investment appraisal
10 other sections not shown
accept accounting profit alternative annual annuity appraisal technique approach arise assets assumed assumption benefit-cost ratio calculated capital expenditure capital investment capital rationing cash inflows chapter company's consumption cost of capital criterion deci decision advice decision maker discount rate discounted payback dual values economic ENPV estimated evaluate Example expected factor financial decision financial investment line financial management firm increase indifference curve inflation investment appraisal investment decision investment projects investors IRR decision rule linear interpolation loan machine market interest rate market rate maximizing method mutually exclusive projects negative NPV NPV decision rule objective Operating cash flow opportunity cost outlay perfect capital market physical investment line positive NPV present value problem produce project cash flows project's NPV rate of interest rate of return revenues risk scrap value shareholder wealth single-period situation systematic risk terminal value undertake undertaken value of money X factor