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095 Clauses Relating to Accounting Matters  Form

095 Clauses Relating to Accounting Matters Form

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>> Steve: A DISCREPANCY BETWEEN THE NUMBERS THAT THE ONTARIO LIBERAL GOVERNMENT PRESENTED TO THE PUBLIC AND WHAT THE AUDITOR GENERAL SAYS THOSE TOTALS SHOULD BE AMOUNTS TO A DIFFERENCE OF ABOUT $20 BILLION OVER THE NEXT THREE YEARS. HOW COULD TWO VIEWS PRODUCE SUCH DRAMATICALLY DIFFERENT FIGURES? LET'S FIND OUT FROM: WALLY SMIELIAUSKAS, PROFESSOR OF ACCOUNTING AT THE UNIVERSITY OF TORONTO'S ROTMAN SCHOOL OF MANAGEMENT. AND HAS BY FAR THE TOUGHEST NAME I'VE EVER HAD TO SAY ON THIS PROGRAM. WALLY, IT'S NICE TO HAVE YOU HERE ANYWAY. >> Wally Smieliauskas: NICE TO BE HERE. >> Steve: SHELDON, IF YOU WOULD, BRING THIS GRAPHIC UP. THERE IS A DISCREPANCY, AS WE POINTED OUT. THE GOVERNMENT OF ONTARIO SAID IT DELIVERED A SMALL SURPLUS AT THE END OF FISCAL YEAR, THE BUDGET THEY JUST ANNOUNCED, A LITTLE OVER $600 MILLION, BUT THEY ARE ALSO FORECASTING MULTI-BILLION DOLLAR DEFICITS OVER THE YEARS, IN FACT OVER THE NEXT SEVEN

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