Capital Budgeting & Cash Flows

Order Description

Why is capital budgeting such an important process? Why are capital budgeting errors so costly? Differentiate between NPV, PI, and IRR methods. What are the advantages and disadvantages of using each of these methods? Why is there a focus on cash flows rather than accounting profits in making capital-budgeting decisions? Why such an interest in incremental cash flows rather than total cash flows?
Instructions: should be at least 350-words. 2 scholarly journal, Please note Wikipedia, Investopedia and similar websites are not credible academic references.