How are changes in net working capital accounted for in the capital budgeting process? Increases in current assets are considered a cash outflow at time zero and increases in current liabilities are considered a cash inflow at the end of the project. Increases in current assets are considered a cash inflow at time zero and increases in current liabilities are considered a cash outflow at the end of the project. Increases in net working capital are considered a cash outflow at time zero and a cash inflow at the end of the project. Increases in net working capital are considered a cash inflow at time zero and a cash outflow at the end of the project