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...Capital expenditure decisions i concept and meaning or budgeting may be defined as the decision making process by which firms evaluate purchase of major fixed assets including building machinery equipment etc are not meant for sale therefore it is investment in other words deals exclusively with proposal essentially long term projects benefit expected to received over a period time longer than one year apart from proposals also concerned firm s scarce financial resources among available market opportunities some degree risk uncertainty nature involve acquisition that have life span provide benefits spread substantial investments large amounts funds such its effect irreversible once approved represent invest ments cannot reversed withdrawn any withdrawal reversal lead considerable losses estimation future cash inflows preparation budget involves forecast ing several years evaluating profitability maximization shareholder wealth helps protect interest shareholders well because avoids und...