Description: The “Big Owe” is a nickname long associated with Montreal’s Olympic Stadium, given its history of cost overruns and other issues. The original retractable roof had been a source of problems, and the stadium has not been available for winter events for quite some time. But now, rather than pursue the option of a costly demolition, Caroline Proulx, Quebec’s Tourism Minister, announced a four-year construction project to replace the roof with a glass structure. The new roof will allow year-round stadium use, generating new revenues for the Olympic Park.
Date: February 5, 2024
Source: cbc.ca
Discussion points:
1) How many of you and your classmates have been to an event at the Olympic Stadium?
2) What do you think about Concordia professor Moshe Lander’s opinion that the government should “put it out of its misery and knock it down?”
3) Page 8-8 of Wiley’s Understanding Financial Accounting has a section titled “How Do We Account for Costs Subsequent to Purchase?” Searching for “yes” answers to the approach outlined in this section, do you think the costs of the new roof should be capitalized or expensed?
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