The globalization process has led to a change of the company's system environment. Today's modern environments in which companies exist are characterized by a stochastic system. Such a system, pervaded by turbulent changes, represents a series of risks and uncertainties faced by enterprise management. This final work emphasizes the importance and role of capital budgeting as a support to managerial accounting in the process of making optimal business decisions. It presents, analyzes and evaluates the importance of the synergy effect of knowledge, techniques and tools for budgeting and managing accounting. This kind of approach is needed to achieve one of the target management functions that is manifested through the growth and development of companies in an unlimited length of time. Investments are a premise of enterprise development. Therefore they need it to be appropriately accessed and apply all knowledge to achieve the desired effect. The theoretical aspect of the investment is showning. All theoretical knowledge is used with applications of these knowledge on a concrete example of a manufacturing company. A quantitative approach to cost and revenue analysis is processenig, the influence of amortization on cash flow and profitability of the company, CVP analysis of production process, incremental analysis, and the rating of investment efficiency. This final work highlights the importance of application of capital budgeting , regardless of the size of the company. Goal of work on the one hand is to evaluate the quality of the investment project and, on the other, to prove the importance of the effects of efficient making investment decision and the control of planned activities that enable early indicators of potential problems and access to corrective measures in change the direction of business.