## Overview

This module covers investment appraisal techniques and project evaluation, including time value of money concepts, payback and DCF methods, and risk assessment. Topics include present value calculations, NPV IRR fundamentals, and sensitivity scenario analysis.

## 1. Time value of money

- [Simple and compound interest, discounting](acca-ffm-time-value-of-money-simple-and-compound-interest-discounting.md)
- [Present value and annuity calculations](acca-ffm-time-value-of-money-present-value-and-annuity-calculations.md)
- [Nominal vs effective rates (basic)](acca-ffm-time-value-of-money-nominal-vs-effective-rates-basic.md)

## 2. Capital investment appraisal

- [Payback and discounted payback](acca-ffm-capital-investment-appraisal-payback-and-discounted-payback.md)
- [ARR (accounting rate of return)](acca-ffm-capital-investment-appraisal-arr-accounting-rate-of-return.md)
- [NPV and IRR fundamentals and decision rules](acca-ffm-capital-investment-appraisal-npv-and-irr-fundamentals-and-decision-rules.md)

## 3. Project cash flows and risk

- [Identifying relevant cash flows for appraisal](acca-ffm-project-cash-flows-and-risk-identifying-relevant-cash-flows-for-appraisal.md)
- [Inflation, taxation, and working capital effects (intro)](acca-ffm-project-cash-flows-and-risk-inflation-taxation-and-working-capital-effects-intro.md)
- [Sensitivity and scenario analysis (basic)](acca-ffm-project-cash-flows-and-risk-sensitivity-and-scenario-analysis-basic.md)

Free ACCA FFM Investment Decisions Study Guide