Add to favorites
ASC 410-30-50-8 through ASC 410-30-50-12 outlines the following disclosures that a reporting entity should consider, but that are not required.
  • The event, situation, or circumstances that might trigger recognition of a loss contingency related to a reporting entity’s remediation-related obligations (e.g., upon completion of a feasibility study)
  • Policy concerning the timing of recognition of recoveries
  • Additional specific disclosures related to the environmental remediation loss contingencies that would be useful to further a user’s understanding of the reporting entity’s financial statements
  • Period over which disbursements for recorded amounts will occur
  • Expected period for realization of recognized probable recoveries
  • Estimated time frame for resolution of the uncertainty
  • Reason why an estimate of a probable or reasonably possible loss or range of loss cannot be made, if applicable
  • Specific considerations related to a specific site, including the total amount accrued for the site, the nature of any reasonably possible loss contingency, whether any other parties are involved and share in the obligation, status of regulatory proceedings, or estimated time frame for resolution of the remediation loss contingency
  • Details related to the amount of environmental remediation costs recognized in the income statements (e.g., amount recognized in each period, recoveries credited to environmental remediation costs in each period, where costs are captured in financial statements, etc.)

Welcome to Viewpoint, the new platform that replaces Inform. Once you have viewed this piece of content, to ensure you can access the content most relevant to you, please confirm your territory.

Your session has expired

Please use the button below to sign in again.
If this problem persists please contact support.

signin option menu option suggested option contentmouse option displaycontent option contentpage option relatedlink option prevandafter option trending option searchicon option search option feedback option end slide