Posted by & filed under Accounting Careers, Financial Reporting and Analysis.

Description: With Covid-19 cases rising in several provinces in the latest phase of the pandemic, governments, such as Ontario, have responded with requiring vaccine passports for customers dining in restaurants. Policing the passport is especially tough in food courts, where food is purchased from a variety of vendors but consumed in a common area not owned by any single one of these establishments. Some malls, such as giant Cadillac Fairview, owner of the Eaton Centre, are hiring extra security to perform the task. Of course, extra security means increased costs for someone.

Date:  September 21, 2021



Discussion points:

1) Are you a regular at the mall food courts? Why or why not?

2) If you were an accountant for a mall owner, what type of arrangement could you establish to track the additional costs associated with this extra security?

3) Page 9-3 of Wiley’s Financial Accounting: Tools for Business Decision Making discusses the four main classes of property, plant, and equipment. Which of these categories would a mall owner likely be using in its description of its property, plant, and equipment on its balance sheet?

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