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The payback period in capital budgeting refers to the period required for the return on an investment to "repay" the sum of the original investment. Payback period, as a tool of analysis, is often used because it is easy to apply and understand for most individuals, regardless of academic training or field of endeavor. When used carefully or when comparing similar investments, it can be quite useful. All else being equal, shorter payback periods are preferable to longer payback periods. As a ...

Knowing your audience – whether readers or listeners – will help you determine what information to include in a document or presentation, as well as how to convey it most effectively. You should consider your audience when choosing your tone, content, and language – or else your message may seem unfocused or inappropriate. In the classroom, your audience is often your professor. However, some assignments are designed so that you are addressing a secondary audience such as an expert in the fie...

Read this essay on audience awareness for a good refresher on the importance of identifying, reaching out to, and addressing your audience in your writing.

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