資源描述：
《capital budgeting and cost analysis》由會(huì)員上傳分享，免費(fèi)在線閱讀，更多相關(guān)內(nèi)容在工程資料-天天文庫(kù)。
1、21CapitalBudgetingandCostAnalysisLearningObjectivesAfirm’saccountantsplayanimportantrolewhenitcomestodecidingthemajorexpenditures,or1.Understandthefivestagesofcapi-investments,acompanyshouldmake.talbudgetingforaprojectAccountants,alongwithtopexecutives,havetofigureouthowand2.Useande
2、valuatethetwomainwhentobestallocatethefirm’sfinancialresourcesamongdiscountedcashflow(DCF)meth-alternativeopportunitiestocreatefuturevalueforthecompany.ods:thenetpresentvalue(NPV)Becauseit’shardtoknowwhatthefutureholdsandwhatprojectsmethodandtheinternalrate-of-return(IRR)methodwillul
3、timatelycost,thiscanbeachallengingtask,onethatcompanieslikeTargetconstantlyconfront.Tomeetthischallenge,3.UseandevaluatethepaybackandTargethasdevelopedaspecialgrouptomakeproject-relateddiscountedpaybackmethodscapitalbudgetingdecisions.Thischapterexplainsthedifferent4.Useandevaluateth
4、eaccrualmethodsmanagersusetogetthe“biggestbang”forthefirm’saccountingrate-of-return“buck”intermsoftheprojectstheyundertake.(AARR)method5.Identifyrelevantcashinflowsandoutflowsforcapitalbudgeting1decisionsTarget’sCapitalBudgetingHitstheBull’s-Eye6.UnderstandissuesinvolvedinIn2010,Targ
5、etCorporation,oneofthelargestretailersintheUnitedimplementingcapitalbudgetingStates,willspendmorethan$2billiononopeningnewstores,decisionsandevaluatingmanage-rialperformanceremodelingandexpandingexistingstores,andinvestingininformationtechnologyanddistributioninfrastructure.7.Identif
6、ystrategicconsiderationsincapitalbudgetingdecisionsWithintensecompetitionfromWal-Mart,whichfocusesonlow-prices,Target’sstrategyistoconsidertheshoppingexperienceasawhole.Withtheslogan,“Expectmore.Payless.”thecompanyisfocusedoncreatingashoppingexperiencethatappealstotheprofileofitscore
7、customer:acollege-educatedwomanwithchildrenathomewhoismoreaffluentthanthetypicalWal-Martcustomer.Thisshoppingexperienceiscreatedbyemphasizingstoredécorthatgivesjusttherightshoppingambiance.Asaresult,investmentsintheshoppingexperiencearecriticaltoTarget.Tomanagethesecomplexcapitalinve
8、stments,Targ
