The budget cycle: accounting and auditing

The first page is to answer the three question. The second page is to write three respond comments( this page NOT NOW – I will upload a file in a week)

1. please explain what you see as the two biggest sources of conflict in capital budgeting and why these areas are so troubling

. (No response comments are required for this question.)

2. On p. 231, Bland quotes James Madison as follows: But what is government itself, but the greatest of all reflections on human nature? If men were angels, no government would be necessary. If angels were to govern men, neither external nor internal controls on government would be necessary. after reading Chapter 10 ((attached file)), explain what you see as the value of accounting and auditing as part of the budget cycle.

2nd page ( NOT NOW) Please provide at least one response comment to the substantive comment of two other group discussion members.

3. Explain what you see as the advantages and disadvantages of interim financial reports.

( NOT NOW) Please provide at least one response comment to the substantive comment of one other group discussion member.

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