Assume you are a CFO of a small manufacturing company and the CEO wants your input on the value of budgeting. Write a three-page memo to the CEO explaining the purpose, basic components of the budget, and the benefits of a budget. As an appendix to your memo, discuss the capital budget process (purpose and value) and the various methods used to evaluate capital investment projects, including the pros and cons of each method. Include in your memo your recommendation to the CEO whether or not to prepare a budget, how long it should take, and when it should begin.