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Capital Investment Appraisal

Capital Investment Appraisal

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Published by sachinahuja

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Published by: sachinahuja on Sep 14, 2010
Copyright:Attribution Non-commercial


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Planning and control of capitalexpenditure
The importance of capital expenditure decisions
 Hardy Heating Co. Ltd.
by G. Ray and J. Smithpublished by the B.B.C., 1968
Planning and control of capitalexpenditure
Capital expenditure decisions are some of the most formidable that have to be made bymanagement.
When decision made to invest in long-livedassets, company usually committing itself tooperating those assets for some time,
reversal of decision will probably mean sellingassets at a loss.
decisions shape bed on which the company mustlie in the future,
hus, investment decisions are mutually important toshareholder, employee, consumer and economy as a whole.
hareholder interested since capital expenditure decisionsaffect earning power and growth.
mployee affected since investment may result in animprovement in profits and productivity, from which he mayexpect increased earnings.
Consumer hopes to benefit from an increase in productivity by an improvement in quality or reduction in price.
he economy as a whole is affected by the total volume of the investment, together with its timing and quality.
We can consider the total investment in a company as aseries of projects or investment decisions.

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