In 2008 Clayton Christensen, Stephen Kaufman and Willy Shih pointed the accusatory finger of wrong investment decisions to: ill documented cost information, incorrect application of financial decision making tools and short termism. Given that we have little literature systematically documenting costing information practices in the light of making investment decisions we can refute nor confirm most of these concerns. That is, do firms make their investment decisions often wrong or do they only do so in appearance? With this paper I try to make the case for how cost accounting research can enhance our understanding of how investment decisions are made in firms. I identify four dimensions that are understudied and that yet appear to be relevant in this regard: I. Cost structure information; II. Evaluation tools; III de-biasing methods, and IV. The organizational context in which investment decisions are made.