Transcription of Accounting for Conditional Asset Retirement …
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July 2005 FASB Interpretation No. 47 Accounting for Conditional Asset Retirement ObligationsAn Industry White PaperPage 1 FASB Interpretation No. 47 Accounting for Conditional Asset Retirement obligations An Industry White paper 2 Reasons for an Interpretation .. 3 Sufficient Information .. 3 Change in the Way Disposal is Viewed .. 5 Date of Obligating Event .. 6 Indefinite 7 Materiality .. 9 Decision Tree .. 9 Specific Property Considerations .. 13 Mass Assets, Electric and Gas .. 13 Minor Asbestos, PCBs, and Other Contaminants .. 21 Rights-of-Way and Franchises ..25 General Hydro Overall Recommendation ..30 Effective Date .. 31 FIN 47, Accounting for Conditional AROs An Industry White paper Page 2 Introduction This Interpretation clarifies that the term Conditional Asset Retirement obligation as used in FASB Statement No.
Page 1 FASB Interpretation No. 47 Accounting for Conditional Asset Retirement Obligations An Industry White Paper Introduction..... 2
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