Description: The COVID-19 virus has created havoc in the summer job market for students. Regular summer jobs are disappearing, as well as positions for student practicums and co-op opportunities. The loss of practicums is especially concerning as they are often required for graduation from certain programs. The Prime Minister has responded that the federal government will fund 100% of some summer employment opportunities to encourage organizations to employ students this summer.

Date:  April 10, 2020

Source:  calgaryherald.com

Link: https://calgaryherald.com/news/students-facing-steep-declines-in-summer-work-due-to-covid-19/

Discussion points:

1) Have your summer employment plans been impacted? How about those of your friends and classmates?

2) Do you think the government’s plan will adequately address the summer-jobs situation?

3) On page 5 of Wiley’s Financial Accounting: Tools for Business Decision-Making, we learn about the external users of financial statements. If you were preparing the financial statements for an organization that used this student employment program, what do you think you would need to disclose to the external users of those statements?