## Overview

Our free ACCA FM Investment Appraisal notes cover everything you need to know for this module. From appraisal techniques and rankings to project cash flows, tax, and inflation, and risk analysis and project selection, 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 FM. 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 FM topics. Check out our other free notes below:

- [Financial management and the environment](./acca-fm-financial-management-and-the-environment)
- [Risk and return, portfolio theory, and CAPM](./acca-fm-risk-and-return-portfolio-theory-and-capm)
- [Working capital management](./acca-fm-working-capital-management)
- [Investment appraisal](./acca-fm-investment-appraisal)
- [Cost of capital and capital structure](./acca-fm-cost-of-capital-and-capital-structure)
- [Business finance sources](./acca-fm-business-finance-sources)
- [Dividend policy and share transactions](./acca-fm-dividend-policy-and-share-transactions)
- [Business valuations](./acca-fm-business-valuations)
- [Foreign exchange and interest rate risk management](./acca-fm-foreign-exchange-and-interest-rate-risk-management)
- [Treasury and short-term financing](./acca-fm-treasury-and-short-term-financing)

## 1. Appraisal techniques and rankings

- [NPV and profitability index](./acca-fm-appraisal-techniques-and-rankings-npv-and-profitability-index)
- [IRR and multiple IRR issues](./acca-fm-appraisal-techniques-and-rankings-irr-and-multiple-irr-issues)
- [Payback and discounted payback](./acca-fm-appraisal-techniques-and-rankings-payback-and-discounted-payback)

## 2. Project cash flows, tax, and inflation

- [Relevant cash flows and working capital](./acca-fm-project-cash-flows-tax-and-inflation-relevant-cash-flows-and-working-capital)
- [Taxation, capital allowances, and tax shields](./acca-fm-project-cash-flows-tax-and-inflation-taxation-capital-allowances-and-tax-shields)
- [General vs specific inflation treatment](./acca-fm-project-cash-flows-tax-and-inflation-general-vs-specific-inflation-treatment)

## 3. Risk analysis and project selection

- [Sensitivity, scenario, and simulation](./acca-fm-risk-analysis-and-project-selection-sensitivity-scenario-and-simulation)
- [Capital rationing single and multi-period](./acca-fm-risk-analysis-and-project-selection-capital-rationing-single-and-multi-period)
- [Replacement decisions and EAA](./acca-fm-risk-analysis-and-project-selection-replacement-decisions-and-eaa)


Free ACCA FM Investment Appraisal Study Guide