Posted by & filed under Canadian Government.

Description:  It all comes down to the numbers. Supporters of Calgary’s bid for the 2026 Winter Olympics are quoting optimistic figures showing that $5 billion plus in costs for the Games will produce 5 times the benefits in economic impacts. On the other side are skeptics claiming the games will leave the three levels of government responsible for over $3 billion in costs. Moshe Lander of Concordia University notes that in this crunching of numbers he has not seen any figures comparing the planned spending on the Olympics to spending on other alternatives.

Date: September 16 , 2018

Source:  calgaryherald.com

Link: https://calgaryherald.com/news/local-news/conservative-or-overly-rosy-digging-into-the-calgary-olympic-bid-plan-numbers

 

Discussion points:

1) Were you aware of this initiative by Calgary? Would you like to see the 2026 Olympics return to Calgary?

2)  Wiley’s Financial Accounting: Tools for Business Decision Making, talks about the objective of financial reporting to provide useful information to decision makers (see page 73). Who would be the financial statement users for a financial statement of an Olympic Games?

3) Search the website of the Auditor General of British Columbia and see if you can find any audits of the cost for the 2010 Vancouver Winter Olympics.

 

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