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'Capital budgeting is a decision process of assessing and analysing projects that require large sum of funds and deciding whether they should be included in the capital budget'.
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'Capital budgeting is a decision process of assessing and analysing projects that require large sum of funds and deciding whether they should be included in the capital budget'. This process is of fundamental importance to the success or failure of the firm as the fixed asset investment decision chart the course of a company for many years into the future. Evaluation and selection of long term investment is consistent with a firm's goal of maximising shareholder's wealth. Among the uses of capital budgeting are assessments of purchasing new equipments, acquiring new facilities, developing and introducing new products, and expanding into new sales avenues. Capital budgeting decisions are very important because of the following: * They represent large expenditure of firms * They are tied up for lengthy periods of time * They are difficult and costly to reverse * Attachment of firm's goal is highly dependent on those decisions The main stages of...
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