美国会计学论文代写：贴现现金流技术
当使用贴现现金流技术，只有相关的成本（包括机会成本，营运资本成本的投资评估成本）应纳入计算。不相关的成本，如过去的成本，沉没成本，承诺的成本，折旧和任何其他固定费用无关的项目应被忽略。
净现值：NPV（净现值）投资评估方法是接受项目，积极npv.npv通过贴现现金流出和流入的资本投资项目选择的目标投资回报率或成本获得的值（这里是资本即WACC加权平均成本）。尽管净现值法在技术上优于IRR，计算简单，但它仍然有其缺点。它比资本收益率长期难以计算（ROCE）或投资回收期方法。这是NPV的一个主要缺点，而非会计人员或仅仅对账目和财务有基本了解的人很难找到最终准确的NPV。其计算包括找到准确的贴现率。折现率中的1%甚至是轻微的变化会在很大程度上扭曲结果。
内部收益率（IRR）的投资评估方法是接受这些项目的IRR（净现值率为零）超过目标回报率。
这是最有用的现金流时，传统的（即第一负现金流，然后流的积极现金流）。如果在一些年现金流是积极的，然后负，然后再积极；从IRR方法可能会出现不同的结果。此外，它认为货币的时间价值和一个项目的现金流。
另一方面，它没有考虑到项目中任何变量变化的敏感性。IRR完全忽略了投资的相对规模。
美国会计学论文代写：贴现现金流技术
When using discounted cash flow techniques, only relevant costs (costs of investment appraisal including opportunity costs, working capital costs) should be taken into calculations. Non-relevant costs like past costs, sunk costs, committed costs, depreciation and any other fixed overheads that are irrelevant to the project should be ignored.
NPV: The NPV (Net Present Value) method of investment appraisal is to accept projects with a positive NPV.NPV is the value obtained by discounting all cash outflows and inflows of a capital investment project by a chosen target rate of return or cost of capital (here it is the weighted average cost of capital i.e. WACC). Even though the NPV method is technically superior to IRR and simpler to calculate, but it still has its drawbacks. It is lengthier and harder to calculate than Return on Capital Employed (ROCE) or payback period methods. This is a major drawback of NPV, and non-accountants or people with just basic understanding of accounts and finance find it hard to arrive at a final and accurate figure for NPV. Its calculation involves finding an accurate discount rate. A slight change of even 1% or 2% in the discount rate can distort the results to a great extent.
IRR: The Internal Rate of Return (IRR) method of investment appraisal is to accept those projects whose IRR (the rate at which the NPV is zero) exceeds a target rate of return.
This is mostly useful when cash flows are conventional (i.e. first negative cash flows, then a stream of positive cash flows). If in some years cash flow is positive, then negative, and then positive again; there may arise different results from the IRR method. Moreover, it considers the time value of money and all of a project’s cash flows.
On the other hand it doesn’t take into account the sensitivity of change of any variable in the project. IRR completely ignores the relative sizes of investments.
