This document explores key financial management concepts, including long-term finance through equity finance and investment appraisal techniques. It delves into the mechanics of right issues, analyzing their impact on earnings per share and theoretical ex-right prices. The document also examines the advantages and disadvantages of various investment appraisal techniques, such as payback period, accounting rate of return, net present value, and internal rate of return, providing a critical evaluation supported by relevant academic research. This analysis aims to equip students with a comprehensive understanding of these financial tools and their application in decision-making.