APPLICATION OF DISCOUNTED CASH FLOW ANALYSIS IN MAKING INVESTMENT DECISIONS

U današnjem svijetu kada se priča o novcu često se kaže da je vrijeme novac, a ovaj rad pridaje pojašnjenju o vremenskoj vrijednosti novca, odnosno o vrijednosti novca u sadašnjosti ili budućnosti. Investitori moraju biti upoznati sa svim rizicima koji jedan projekt stavlja pred njih žele li uspjeti na dugoročnom planu. Tema ovog rada je primjena analize diskontiranih novčanih tokova pri donošenju investicijskih odluka, a cilj je pojasniti ulogu novca koju investitor ulaže u investicijski projekt i koje sve odluke investitor mora donijeti. Također, postoje i financijski pokazatelji koji prikazuju prihvatljivost investicijskog projekta, a jedan od njih je naravno zaključna ocjena projekta koja investitoru daje nadu u dobro i uspješno poslovanje.In today’s world when there are talk about money, it is often said that time is money. This paper gives an explanation of the time value of money and about the value of money in the present of the future. Investors must be aware of all the pisks that project put in front of them if they want to succed int he long run. The topic of this paper is the application of discounted cash flow analysis in making investment decisions, and the aim is to clarify the role of money that an investor invests in an investment project and which decisions the investor must make. Also, there are financial indicators that show the acceptability of the investment project, and one of them is the final evaluation of the project that gives the investor hope for good and successful business