1. Government accounting does not permit depreciation to be charged on the operating statements of governmental funds. Present arguments for reporting depreciation and arguments against reporting depreciation.

2. What is "deferred maintenance?" What is its possible role in government financial reporting?

3. Governmental investment policies have been sharply criticized because of significant losses incurred by certain governments. What is the nature of the program that is being criticized? What should be the role of accounting in determining and reporting investment strategies?