The accountant of Futuristic Ltd came across an article advocating the importance of strategic investment appraisal for capital investment decisions. The article also briefly mentioned the usefulness of various strategic investment appraisal techniques/ frameworks such as the balanced scorecard, strategic cost management and fuzzy set theory in supporting strategic investment appraisal.

The accountant is convinced that strategic investment appraisal should be adopted for all capital investment decisions. However, he is not entirely clear as to how the various strategic investment appraisal techniques/frameworks can be used to support the appraisal.

Required:

Evaluate the belief of the accountant that strategic investment appraisal should be adopted for all capital investment decisions. Explain how strategic investment appraisal techniques/frameworks can be used to support strategic investment appraisal and evaluate the usefulness of strategic investment appraisal techniques/frameworks in supporting strategic investment appraisal. (Note: You are expected to support your arguments/evaluation with extant literature.)