DQ #1 – What is Cost-Benefit analysis? How is Cost-Benefit analysis used at the different levels of public budgeting and governmental and nonprofit accounting? Explain. DQ#2 – How has politics shaped the federal budget process? In your opinion, for better or worse? Is budgeting a continuous process? Explain this statement.

 

Cost-Benefit Analysis Assignment Help Answer 1: The cost-benefit analysis can be defined as the process, which is used to analyze the business decisions or to measure the various alternatives to know whether the cost is outweighed by benefits or not. In this process, the benefits from a decision are summed and the total cost of that particular action is subtracted (Anthony, 2007). In the governmental accounting, the cost-benefit analysis is used to determine the cost of a particular project for public welfare and the benefits from that project in terms of social welfare. This process is applied in terms of identifying whether a particular activity should be carried out or not (Drury, 2007). In the public budgeting, the cost-benefit analysis is used to determine the sources and uses of funds for taking out a project in concern for public facilities. The road construction, facilitation of infrastructure is some of the aspects, which are considered in public budgeting accounting by using cost benefits analysis (Drury, 2007). Similarly, cost-benefit analysis is used in non-profit accounting to analyze the programs in terms of cost and expected consequences over people (Drury, 2006). An increase in safety conditions, reduction in pollution are some of the programs, which are analyzed through cost-benefit analysis in non-profit organizations.

 

Federal Budgeting Assignment Help Answer 2: The inclusion of politics in the federal budget process reduced the effectiveness of federal budgeting process related to economic improvement. It is because most of the people feel that the federal budgets do not reflect their values and it is also difficult to understand (Lara, 2008). The inclusion of politics has made the federal budget process worse. It is because most of the politicians show their home states with more pet projects to make them richer. At the same time, politicians also accept the money from corporations and lobbyists and make the policies and budgets according to them, which make the budget less effective for people in the community (National Priorities Projects, 2011). The federal budget allocates the resources to states by determining how much government will spend and how it will finance its activities. These decisions are quite political and due to this; federal budgeting process has worsened as budgets are decided on the basis of political priorities rather than economic priorities. Due to politics in the federal budgeting process, a conflict between the president and Congress also occurs due to a difference in their priorities (Lara, 2008). Thus, politics shape the budget as per priorities of political parties rather than the needs of the community.

 

References Anthony, R.N. (2007). Accounting – Text & Cases (12th ed.). USA: McGraw-Hill Education Professionals. Drury, C. (2006). Cost And Management Accounting: An Introduction (6th ed.). UK: Cengage Learning EMEA. Drury, C. (2007). Management and cost accounting (7th ed.). UK: Cengage Learning EMEA. Lara, P. (2008). Party Control and Budget Estimates: A Study of Politics in the Federal Budget Process. Berkeley Undergraduate Journal, 20 (2). Retrieved from: http://www.escholarship.org/uc/item/7515h7n6#page-1 National Priorities Projects. (2011). Federal Budget 101. Retrieved from: http://nationalpriorities.org/budget-basics/federal-budget-101/federal-budget-process.

 

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