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- Who Said Retirement Is Easy?: FASB Proposes to Interpret Asset Retirement Accounting
- On June 17, 2004, FASB issued for comment a Proposed Interpretation of FASB Statement No. 143, Accounting for Asset Retirement Obligations. FASB Statement No. 143 requires entities to record a liability for legal obligations stemming from the eventual retirement of a tangible long-lived asset. Essentially FASB believes that no tangible...
- White papers 2004-07-06
Additional Resources
- FASB INTERPRETATION NO. 47, "ACCOUNTING FOR CONDITIONAL ASSET RETIREMENT OBLIGATIONS: AN INTERPRETATION OF FASB STATEMENT NO. 143"
- FASB Interpretation No. 47, "Accounting for Conditional Asset Retirement Obligations: An Interpretation of FASB Statement No. 143" (FIN No. 47) became effective for fiscal years ending after December 15, 2005. Implementation of the Interpretation requires extensive review of the processes used in identifying and accounting for asset retirement obligations AROs...
- Research articles 2005-10-01
- INTERPRETATION OF SFAS NO. 143, "ACCOUNTING FOR CONDITIONAL ASSET RETIREMENT OBLIGATIONS: AN INTERPRETATION OF FASB STATEMENT NO. 143"
- In June 2001, the FASB issued Statement No. 143, "Accounting for Asset Retirement Obligations." SFAS No. 143 requires that companies recognize liabilities for asset retirement obligations in the period in which the obligation is incurred if a reasonable estimate of fair value can be made. Since that time numerous questions...
- Research articles 2004-10-01
- FASB Publishes Proposal to Clarify the Accounting Guidance for Conditional Asset Retirement Obligations
- NORWALK, Conn. -- The Financial Accounting Standards Board FASB has published an Exposure Draft, Accounting for Conditional Asset Retirement Obligations, an Interpretation of FASB Statement No. 143, in response to the diverse accounting practices that have developed with respect to the timing of liability recognition for conditional asset retirement obligations....
- Research articles 2004-06-17
- ACCOUNTING FOR OFFSHORE STRUCTURE RETIREMENT OBLIGATIONS: PROCESS AND FACTOR DESCRIPTION*
- The Financial Accounting Standards Board FASB has recently issued comment for a proposed implementation of FASB Statement No. 143, Accounting for Asset Retirement Obligations. FASB Statement No. 143 dramatically changes the manner in which oil and gas companies account for the dismantling and removal of oil and gas facilities. The...
- Research articles 2005-10-01
- FASB Issues Statement For Asset Retirement Obligations.(Financial Accounting Standards Board)(Brief Article)
- The Financial Accounting Standards Board issued Statement No. 143, Accounting for Asset Retirement Obligations. Initiated in 1994, the project focused on accounting for the costs of nuclear decommissioning and was expanded to include similar closure The Financial Accounting Standards Board issued Statement No. 143, ...
- Research articles 2001-10-01
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