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Lecture Management accounting (5/e): Chapter 21 - Kim Langfield-Smith

Chapter 21 - Information for capital expenditure decisions. In this chapter you will learn: Capital expenditure decisions, the capital expenditure approval process, techniques for analysing capital expenditure projects, other issues in capital expenditure analysis, income taxes and capital expenditure analysis, investments in advanced technologies, post-completion audits, the limitations of capital expenditure analysis. | Chapter 21 Information for capital expenditure decisions 21- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Outline Capital expenditure decisions The capital expenditure approval process Techniques for analysing capital expenditure projects Other issues in capital expenditure analysis Income taxes and capital expenditure analysis Investments in advanced technologies Post-completion audits The limitations of capital expenditure analysis 21- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Capital expenditure decisions Long-term decisions requiring the evaluation of cash inflows and outflows over several years to determine the acceptability of the project Significant impact on the competitiveness of the business Focus on specific projects and programs 21- Copyright 2009 . | Chapter 21 Information for capital expenditure decisions 21- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Outline Capital expenditure decisions The capital expenditure approval process Techniques for analysing capital expenditure projects Other issues in capital expenditure analysis Income taxes and capital expenditure analysis Investments in advanced technologies Post-completion audits The limitations of capital expenditure analysis 21- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Capital expenditure decisions Long-term decisions requiring the evaluation of cash inflows and outflows over several years to determine the acceptability of the project Significant impact on the competitiveness of the business Focus on specific projects and programs 21- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith The capital expenditure approval process Project generation Often initiated by managers in business units Consistent with strategic plan and corporate guidelines Managers may use their discretion and not submit projects that may be acceptable to the business, but which may pose some risk for their business unit Evaluation and analysis of projected cash flows Over the life of the project Difficult to detect biases in estimates of cash flows Business unit managers may have the best knowledge of their business and market 21- (cont.) Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith The capital expenditure approval process (cont.) Progress to approval The larger the project, the higher the level of authority for final approval A political process may take place due