The importance of using investment appraisal method in capital budgeting has gained a wide
acceptance in the industries and academics. Different method has been employed, but the
significant of using the payback method has been increasing every time despite the fact that
researchers have advised against using the method. The analysis conducted in the chapter
from the survey on Finance Officer of companies, Europe, America and Africa have
confirmed the widely acceptance of this method. The reason why many of the managers still
prefer using the payback method can be traced to different reasons like the simplicity of the
method.