Posted by & filed under Accounting Principles, Internal control.

Description:  Winnipeg Jets fans are excited by their team’s performance this year and are looking forward to the coming playoffs. But if you want to see a game live, that could be a problem. Resellers are  already pricing tickets at over $800 U.S. One official with the Jets ownership group calls this “profiteering at its unfettered worst.”

Date: April 4, 2018

Source:  cbc.ca

Link: http://www.cbc.ca/news/canada/manitoba/winnipeg-jets-playoff-tickets-1.4604783

1) Have you ever bought a ticket to an event from a reseller? Did you have to pay a high premium?

2) If you were working for the Winnipeg Jets what type of internal controls could you put in place to prevent or detect the reselling of tickets at highly inflated prices?

3) On page 486 of Wiley’s Financial Accounting: Tools for Business Decision Making, you can read about the value of the NHL’s 13-year deal with Rogers Communications to broadcast NHL games in Canada? How would the NHL account for this deal in its financial statements?

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