1- In a substantive comment, please explain what you see as the two biggest sources of conflict in capital budgeting and why these areas are so troubling. these are ( Bland offers 6 different sources of conflict in the capital budgeting process. They are 1) Spending for maintenance vs. spending for new construction, 2) Separate capital budget document vs. unified budget document, 3) Integrated vs. separate cycles for operating and capital budget preparation, 4) Responsibility for capital budget in budget office vs. operating department, 5) Pay-as-you-go financing vs. pas-as-you-use financing, and 6) Economic vs. political criteria for ranking projects (p. 256).
- 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.” In a substantive comment, after reading Chapter 10, explain what you see as the value of accounting and auditing as part of the budget cycle.
explain what you see as the advantages and disadvantages of interim financial reports.