Assume the USOPC had not previously used continuous budgeting but was considering implementing a continuous budgetting system. Aslso assume you had been asked to identify some of the challenges the USOPC waould face in implementing this system. Write a memorandum explaining the challenges you identify.

ATC 7-4 Writing Assignment Continuous budgeting The Curious Accountant in this chapter discussed some of the budgeting issues facing the United States Olympic and Paralympic Committee (USOPC). First, to get a basic understanding of the sources of revenues and expenses of the USOPC, review its "Audited Financial Statements." These may be accessed with the following link: www.teamusa.org/footer/finance/. You need to review the information on the "Consolidated statement of activities." Note that there are usually two of these, one for the current fiscal year, and one for all the years since the year after last summer's Olympic games. Either of these forms will provide additional insight into the sources of the USOPC's revenues and expenses. Required Assume the USOPC had not previously used continuous budgeting but was considering implementing a continuous budgeting system. Also assume you had been asked to identify some of the challenges the USOPC would face in implementing this system. Write a memorandum explaining the challenges you identify