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Synopsis
A useful survey and examination of the traditional and advanced techniques of capital budgeting and their applications in domestic and international contexts.
Booknews
Examines the scope of capital budgeting, looking at both traditional and nontraditional facets. Explains principles of true value of money and capital budgeting, then outlines advanced issues of replacement decisions, capital rationing, and capital budgeting under uncertainty and inflation. Examines areas associated with capital budgeting in a global context, discusses the determination of political risk and its use in capital budgeting internationally, and compares techniques of leasing versus purchasing. Examines techniques of capital budgeting as applied to social projects, and deals with behavioral and cognitive implications of wealth measurement and distribution. The author teaches accounting at the University of Illinois-Chicago. Annotation c. Book News, Inc., Portland, OR (booknews.com)