This book is a practical guide to the application of discounted cash flow for second and third year undergraduates on property management courses and would also be useful for practising chartered surveyors and those involved in the property business. Good practice requires an understanding of the underlying concepts and rationale as well as the principles, criteria and practical issues which inform the estimation of cash flows and choice of discount rate. This book draws on relevant financial theory to provide the reader with the extent and quality of understanding required to support good practice.
Preface
The Power of Compounding and Gearing
The Time Value of Money; Compounding and Discounting
Investment Decision Making by Discounted Cash Flow
Understanding the IRR and NPV
Key Principles for DCF Practice
Estimating Cash Flows
Estimating the Required Return
Short-Cut DCF
Buy or Lease, and Leaseback Decisions
Risk Analysis in Cash Flow Appraisal
References and Bibliography
Index.
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