Colophon

What kind of publication this is

The book is written for two readers at once: the student, for whom it is course material, and the practitioner, for whom it is a working tool. Every topic is therefore presented both as a step in learning and as an instrument for a decision — with formulas, cases, Excel models and self-check exercises. That form is not a compromise; in business publishing it is long established.

The textbook does not rest on the existing literature alone. Some of the models and methods it sets out are the result of the author's own work; separate academic publications are in preparation.

State of the edition

This is a work in progress: the text is publicly available but not editorially final. It has no ISBN and has not been through final copy-editing, so the content may change. The current edition is v2026.09.16.4 (2026-09-16).

Each chapter carries its own version and change log. If you hold a copy of a chapter, check whether it is out of date on the versions page.

Terms of use

The publication is distributed under the CC BY-NC-ND 4.0 licence. The text may be read and quoted freely with attribution; it may not be used commercially or distributed in modified form.

In virtual learning environments a link to the textbook may be posted, but not copies of the text, nor conversions to PDF, DOCX or other formats.

This licence means the publication is freely available but not open access in the established sense of the term: openness also requires the right to adapt and redistribute, and this licence does not grant it. The distinction matters to anyone looking for material they could rework for their own course.

Calculators and Excel models

The calculators and Excel models are learning tools. Their results and automated conclusions depend on the assumptions entered and illustrate the textbook's formulas; they are not financial, investment, tax or legal advice and do not replace professional judgement. Tax rates, interest rates and regulatory thresholds change — verify current data before applying any result to a real decision. The author accepts no liability for decisions made on the basis of these tools.

The formulas are open: every calculation can be checked against the chapter text. That is deliberate — here a calculator is an illustration of a formula, not a black box.

How to cite

Rakštys, R. (2026). Verslo planavimas ir vertinimas [Business planning and evaluation] (v2026.09.16.4). Vytautas Magnus University, Agriculture Academy. https://rakstys.eu/studijos/verslo-planavimas-ir-vertinimas/

Give the version when you cite: the text is still being revised, and without it a reference may point to a passage that has since changed.