27 ASC 410 ASSET RETIREMENT AND ENVIRONMENTAL OBLIGATIONS
PERSPECTIVE AND ISSUES
ASC 410, Asset Retirement and Environmental Obligations, consists of three subtopics:
- ASC 410-10, Overall, which merely points out the differences between the other two Subtopics
- ASC 410-20, Asset Retirement Obligations, which provides guidance on asset retirement obligation and environmental remediation liabilities resulting from normal operations of long-lived assets
- ASC 410-30, Environmental Obligations, which provides guidance on environmental remediation liabilities.
Scope and Scope Exceptions
ASC 410-20 applies to all entities. It does not apply to these transactions:
- Obligations that arise solely from a plan to sell or otherwise dispose of a long-lived asset
- An environmental remediation liability that results from the improper operation of a long-lived asset
- Activities necessary to prepare an asset for an alternative ...