The main objective o this research work is to develop systematically the beginning of and various stages in capital budgeting.
    Indeed, the aim is to provide an integrated presentation of capital budgeting and to view the unity of the subject matter in such a way that the questions of “how” and “why” are easily answered.
      The topics, sales forecasting (touched briefly) and forecasting of financial requirements as they relate to capital budgeting are covered. The other section of this research work include literature review, research methodology, case study and analysis of data and summary of findings recommendation and conclusion.
    The section in literature review is quite extensive when compared to other sections of this research work. it is the intention of the researcher to bring out the essentials that relate to capital budgeting and hint on those that relate to the company under study. It is hope that those that do not elate to the company will find it useful, to students with interest in capital budgeting and who capital budgeting and who carryout their research work on their companies in Nigeria and aboard.
    This research work is written in language that will make it easy for many people to read and understand. It is my hope that it will enhance the attractiveness of capital budgeting for a large number of audience.

Title Page                                 II
Certification                             III
Dedication                                 IV
Preface                                 VI
Acknowledgement                         VII
Table of contents                             IX

CHAPTER ONE
Introduction
1.1    Problem statement                     2
1.2    Hypothesis                             6
1.3    Limitations of study                     8
1.4    Significance of study                     9
1.5    Definition of terms                     12
  
CHAPTER TWO
    Literature review
2.1    Ranking investment proposal                 14
2.2    Post auditing of the investment decision         17
2.3    Analysis of capital projects                 19
2.4    Capital rationing                         35

CHAPTER THREE
    Research methodology and designation
3.1    Sources of data                          55

CHAPTER FOUR
    Case study and analysis of data and presentation
4.1    Profile of Diamond breweries limited             61
4.2    Organisational structure with special –

CHAPTER FIVE
    Summary of findings, recommendation and conclusion
5.1    Summary of findings                     75
5.2    Recommendations                       78
5.3    Conclusion                             80
BIBLIOGRAPHY                        81
INTERVIEW QUESTIONS                83
 APPENDIX