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Wayne's World Limited (WWL) is a public corporation that operates theme parks across Canada. The theme park industry experienced stagnant growth over the past few
Wayne's World Limited (WWL) is a public corporation that operates theme parks across Canada. The theme park industry experienced stagnant growth over the past few years, and WWL observed this with its minimal revenue growth. To help combat this, WWL entered the hotel and hospitality industry at the beginning of 2023. WWL opened a new hotel at its Ontario theme park location that saw great success with $1,000,000 in revenues earned in 2023. Management expects a 50% revenue increase in 2024 and is working to construct a second hotel at its Alberta theme park location. This revenue stream is a great addition to WWL's theme park revenue of $5,000,000 from 2023. It is December 31, 2023, and the CEO of WWL, Garth Algar, is preparing for 2024's theme park season. In researching ways to increase WWL's revenue, he heard about the success of customer loyalty programs for both retaining customers and promoting new business ventures. He hired ABC LLP to advise him on the accounting for a customer loyalty program over the next three fiscal years. You are a recently hired junior consultant at ABC LLP. Your partner thinks this is the perfect opportunity to apply what you've learned during
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