《L3 capital budgeting》由會員上傳分享，免費(fèi)在線閱讀，更多相關(guān)內(nèi)容在學(xué)術(shù)論文-天天文庫。

1、NPVandCapitalBudgeting(con’t)BoSunWHATISCAPITALBUDGETING?Whatcapitalbudgetingdoes?Howisthisimportant??Makeuplong-termassetCapital--Assetsusedinproportionofthebalancesheet,productionofgoodsorwhichultimatelydeterminestheservicesfuturegrowthofthecorporation.Budget--Aplanfo

2、r?Theprinciplesofcapitalbudgetinginvestmentofcapitalhavebeenadaptedformanyothercorporatedecisions,suchasleasingandM&A.CapitalBudgeting--Theprocessofanalyzing?Manysecurityanalysisandvariousprojectsandportfoliomanagementarebaseddecidinguponwhichoncapitalbudgetingmethods.o

3、nestoincludeinthecapitalbudget.WHATISCAPITALBUDGETING?Typicalsteps?Projectscategories1.Generatingideas?Replacementprojects2.Analyzingindividual?Expansionprojectsproposals3.Planningthecapital?Mewproductsandservicesbudget?Regulatory,safety,and4.Monitoringandpost-environme

4、ntalprojectsauditingPROJECTSINTERACTIONSMutuallyexclusivevs.ProjectsequencingindependentprojectMutuallyExclusiveProjects:InvestinginonecreatestheonlyONEofseveralpotentialoptiontoinvestinanotherprojectscanbechosen.–RANKallalternativesandselectthebestone.Unlimitedfundsvs.

5、IndependentProjects:acceptingCapitalrationingorrejectingoneprojectdoesnotRaisecapitalforallprofitableaffectthedecisionoftheotherprojectsprojects.–MustexceedaMINIMUMHasafixedamountoffundsacceptancecriteria.REALEXAMPLESOFCAPITALBUDGETINGPROJECTS