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Investment appraisal

This page contains a selection of journal articles on aspects of investment appraisal, including tools and techniques, and examples of investment appraisal techniques for IT and other projects.

What's on this page?

  • eBooks
  • Online articles
  • Articles and books in the Library collection

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The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Valuation: measuring and managing the value of companies

The book concerns the valuation of companies. It includes sections on valuation techniques, analysing and forecasting performance, market values, and the management of organisations.

How to prepare business cases: an essential guide for accountants

Designed to help accountants understand all aspects of a business case so that they can prepare and present it with confidence. It contains chapters on investment decisions, preparing a business case, evaluating risk, stakeholders, business case accounting, and using the business case as a project management tool.

Accounting and business valuation methods: how to interpret IFRS accounts

The author offers a detailed guide to the different methods of ascertaining the value of a business, taking into account the move away from UK GAAP towards IFRS. The book incorporates the story of a start-up business from initial conception to final acquisition. Along the way learn about double-entry book-keeping, how to prepare a trial balance, profit and loss accounts and balance sheet.

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Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Online articles

The library provides access to a range of articles in full text from leading business, finance and management journals. Access to articles is provided to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

EBITDA challenges: understand valuation methods to avoid manipulation

The article focuses on management approaches for Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA). Topics discussed include assistance of EBITDA in evaluation of corporations value while acquisition approaches through cash flow determination; absence of several values from EBITDA such as capital expenditures (CAPEX) along with tenant improvement conditions; and consideration of working capital along with EBITDA multiple for valuation process.

Oil: What the slump tells us about the global economy

The article explains the causes of the decline in oil prices since 2014, which has forced producers to cut tens of thousands of jobs and billions in operating costs and capital expenditure. It also looks at factors that are preventing the recovery of the global economy and includes the views of influential economists and organizations.

Will deflation sink Hinkley?

EDF is expected to reach its final investment decision on Hinkley Point C nuclear power station project on 27 January. The article discusses why EDF faces a tough decision at a time when deflation and plunging oil prices have had a knock-on effect on wholesale energy prices.

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Articles and books in the Library collection

The ICAEW Library & Information Service collection includes a range of articles, books and online resources on investment appraisal. Please contact us if you would like to borrow a book or request a copy of an article.

Selected articles and books

Capital investment: a guide to making better decisions 
(CAI, 2013)
This guide presents a comprehensive and applied approach to assessing capital investment proposals, and the methods that can be used to help business develop and appraise proposals and achieve optimal outcomes. It is written for managers and senior managers involved in the approval of capital investment proposals, as well as financial controllers looking for a system to help ensure better investment decisions.

Corporate finance- principles and practice 
(Financial Times Prentice Hall, 2013)
The aim of this book is to provide an introduction to the core concepts and key topic areas of corporate finance in an approachable, 'user-friendly' style. Includes chapters: an overview of investment appraisal methods; investment appraisal - applications and risk.

Find more books and articles

To find out how you can borrow books from the Library please see our guide to book loans.

You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com.

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