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FT Guide to Finance for Non-Financial Managers by Jo Haigh

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9

Capital Investment (Capex) and Investment Appraisal

Although it is unlikely that a non-financial person will be involved directly in the mathematical process of compiling a Capex evaluation, their input may be required in the data-gathering exercise and also in the articulation of the business case as opposed to the purely financial case that is part of any presentation to an investment committee or financier.

Understanding the arithmetical process then should both help the non-financial person prepare appropriate documentation for submission and assist with their commercial presentation.

Appraising an investment opportunity before committing to investment spend is commercially sensible. Capital is scarce for many businesses and spending ...

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