Investment Appraisal Techniques II

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4.0 Credits

This CPE course explores the risk involved in investment appraisal decisions. Investment decisions, like all other decisions, should be analyzed in terms of cash flows that can be directly attributable to them. In addition, this course includes information on dealing with taxation, the impact of inflation on cash flows, capital asset replacement decisions, and identifying real options in investment appraisal.


  • Apply sensitivity analysis techniques to support project investment decisions.
  • Calculate project value using relevant cash flows.
  • Identify non-financial factors in long-term decisions.
  • Apply discounting techniques in comparing projects.

Major Topics

  • Dealing with risk in investment appraisal decisions
  • Relevant cash flows
  • Dealing with taxation
  • Proforma layout for calculations
  • Working capital
  • The impact of inflation of cash flows
  • Methods of dealing with inflation
  • Specific and general inflation rates
  • Dealing with questions with both tax and inflation
  • Capital asset replacement decisions
  • Capital rationing
  • ABC in longer term decisions
  • Qualitative factors
  • Identifying real options in investment appraisal

Designed For

Management accountants wanting to develop skills in financial performance management CGMA exam candidates
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