The Curious accoutant in this chapter discussed s e of the budgeting issues facing the Unitd Slates Obmpic and Paralywigie Cotumittee $($USOPC$).$ FirsL to get a basic understanding of the sources of revenues and expenses of the USOPC, review its ${?}^{**}{?}^{{?}^{?}}$ adited information on the "Consolidated stamement of activities. Note that there are usally two of these, one for the current fiscal gear. and one for all the years since the year after last sammer's Olympic zames. Either of these forms will provide additional insight inco the sources of the USOPC's revenues and expenses.

Requilred

Assume the USOPC bad not previously used cantimous budgeting but was considering implementing a continuous budgeting system. Also assume you had been asked to identify some of the challenges the USOPC would fice in implementing this system. Write a memorandum explaining the clallenges you identify.