## Overview

Our free ACCA AFM Advanced Investment Appraisal notes cover everything you need to know for this module. From DCF techniques to cost of capital and risk analysis, we've got you covered. Whether you're intensively reviewing or looking to solidify specific concepts, these notes provide added peace of mind, knowing that you have a comprehensive resource to help consolidate and revise effectively for ACCA AFM. Think something could be better? [Give us a shout on our contact page](/contact), and we'll take a look.

We've created detailed study guides for all ACCA AFM topics. Check out our other free notes below:

- [Strategic financial management and professional issues](./acca-afm-strategic-financial-management-and-professional-issues)
- [Advanced investment appraisal](./acca-afm-advanced-investment-appraisal)
- [Real options and strategic investment decisions](./acca-afm-real-options-and-strategic-investment-decisions)
- [Business valuation and corporate transactions](./acca-afm-business-valuation-and-corporate-transactions)
- [Mergers, acquisitions, and restructuring](./acca-afm-mergers-acquisitions-and-restructuring)
- [Capital structure, financing, and payout policy](./acca-afm-capital-structure-financing-and-payout-policy)
- [International finance and treasury management](./acca-afm-international-finance-and-treasury-management)
- [Risk management: foreign exchange and interest rates](./acca-afm-risk-management-foreign-exchange-and-interest-rates)
- [Working capital and short-term finance](./acca-afm-working-capital-and-short-term-finance)
- [Performance measurement and value creation](./acca-afm-performance-measurement-and-value-creation)

## 1. DCF techniques and practical complications

- [NPV, IRR, MIRR and Ranking Conflicts](./acca-afm-dcf-techniques-and-practical-complications-npv-irr-mirr-and-ranking-conflicts)
- [Tax, Inflation, and Working Capital Adjustments](./acca-afm-dcf-techniques-and-practical-complications-tax-inflation-and-working-capital-adjustments)
- [Project Interdependencies and Replacement Cycles](./acca-afm-dcf-techniques-and-practical-complications-project-interdependencies-and-replacement-cycles)

## 2. Cost of capital and project-specific rates

- [WACC Estimation and Target Structure](./acca-afm-cost-of-capital-and-project-specific-rates-wacc-estimation-and-target-structure)
- [Asset and Equity Beta, Relevering and De-levering](./acca-afm-cost-of-capital-and-project-specific-rates-asset-and-equity-beta-relevering-and-de-levering)
- [Country Risk Premiums and Multi-currency Projects](./acca-afm-cost-of-capital-and-project-specific-rates-country-risk-premiums-and-multi-currency-projects)

## 3. Risk analysis in appraisal

- [Sensitivity, Scenario, and Simulation Analysis](./acca-afm-risk-analysis-in-appraisal-sensitivity-scenario-and-simulation-analysis)
- [Decision Trees and Sequential Decisions](./acca-afm-risk-analysis-in-appraisal-decision-trees-and-sequential-decisions)
- [Risk-adjusted Discount Rates and Certainty Equivalents](./acca-afm-risk-analysis-in-appraisal-risk-adjusted-discount-rates-and-certainty-equivalents)

Free ACCA AFM Advanced Investment Appraisal Study Guide