Chelsea Gets Married

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

Chelsea Clinton and investment banker boyfriend Marc Mezvinsky married on July 31 in a highly secretive affair that cost approximately $3 million. To avoid the media, the event was held on a posh private estate 90 miles north of Manhattan.

Questions:
1. What was one of the least expensive items at the wedding?
2. What percentage of the total costs (assuming that the $3 million total is correct) was paid for portable potties?
3. Using all the information presented in the video and article, itemize each cost and calculate a total. How close do you come to $3 million? What costs could be missing or do you believe the estimate is too high?

Source:
YouTube.com (2010). Chelsea Clinton Wedding Could Cost $5 Million, July 29. (Retrievable online at http://www.youtube.com/watch?v=R0J8w0Nsl8Y)
Staff. (2010) Clinton Wedding Cost to Top $3 million. KTLA News, July 27 (Retrievable online at http://www.ktla.com/news/landing/ktla-clinton-wedding-costs,0,106194.story)