Hello, please I need your assistance with my assignment

Question 1

It is one thing to develop personal budget; it is another thing to stick to it. Financial planners have suggested various mechanisms to provide support for enforcing personal budgets. One approach is called "envelope budgeting."

Instructions

Kindly perform a search on "envelope system money management" and then answer the following questions.

• Summarize the process of envelope budgeting.
• Evaluate whether an accountant thinks he would benefit from envelope budgeting. What are are its strengths and weaknesses relative to the situation?

Question 2

an accountant in the budgetary, projections, and special projects department of Fernetti Conductor, Inc., a large manufacturing company. The president, Richard Brown, asks the accountant on very short notice to prepare some sales and income projections covering the next 2 years of the company's much heralded new product lines. He wants these projections for a series of speeches he is making while on a 2-week trip to eight East Coast brokerage firms. The president hopes to bolster Fernetti's stock sales and price.

an cccountant work 23 hours in 2 days to compile the projections, hand-deliver them to the president, and are swiftly but graciously thanked as he departs. A week later, He find time to go over some of the computations and discover a miscalculation that makes the projections grossly overstated. He quickly inquire about the president's itinerary and learn that the president has made half of his speeches and has half yet to make. The accountant is in a quandary as to what to do.

Provide your comments to the following

• consequences of telling the president of your gross miscalculations?
• consequences of not telling the president of your gross miscalculations?
• ethical considerations to an accountant and the president in this situation?