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Abstract
the role of accounting information in rationalizing the decisions of
capital expenditures.
"An empirical study on the listed companies in Palestine Exchange"
This study aimed to determine the importance of using accounting information in
rationalizing the decisions of capital expenditures, to measure the perception of such
importance, and to identify the extent of using this information by management in
rationalizing decisions of capital expenditures. In addition, to define the challenges that
may limit such use, and to specify the ways to assess the capital expenditures decisions
by companies listed in the Palestine Exchange.
Descriptive Analytical Approach was used and comprehensive survey method for
the population study was adopted due to the limited number of the population study
members which consists of 43 companies. The study depends on a questionnaire
designed to serve its objectives and distributed to all firms listed in the Palestine
Exchange.

The study findings:

1. Many firms listed in Palestine Exchange make plans of their investments annually, but
there is a limited number of companies do not develop a plan at all, that means, these
companies do not have a capital budget, and they assess their capital decisions
simultaneously.
2. The firms listed in Palestine Exchange use discounted cash flow methods (Profitability
Index and Internal Rate of Return) to evaluate capital investment projects. As noted
companies use more than one method to evaluate the capital investment projects.
However, the traditional methods are still used in high percent.
3. The Management of the listed companies in the Palestine Exchange face challenges that
cause weakness in using of accounting information in rationalizing decisions of capital
expenditure, notably, to the following constrains: the weakness of information
availability with the required speed and accuracy, the weakness of companies
management and departments participation to take capital expenditures decisions, and
the absence of academic qualification to the accounting side.
The study recommended to support the culture of using accounting information
in the process of capital expenditure decision, the necessity to develop a strategic plan
for the capital investment projects, the need to develop theoretical and practical
expertise related to parties involving in assessing the capital projects decision, giving
the opportunity to involve the staffs departments of listed companies in Palestine
Exchange in the capital expenditures decisions process, and to monitor the control over
the results of capital expenditures decisions after the implementation of such decision.

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FASB

financial Accounting Standards Board

SFAC

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Concepts

NPV

Net Present Value

CI

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Discount Rate
Time

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Salvage Value

IRR

Internal rate of return

PI

Profitability Index

PB

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Economic Value Added

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112


 

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