Standard Guide for Recognition and Derecognition of Environmental Liabilities

Available format(s)

Hardcopy , PDF

Language(s)

English

Published date

01-02-2018

Publisher

American Society for Testing and Materials

1.1Purpose—The purpose of this guide is to provide a series of options or instructions consistent with good commercial and customary practice for recognition and derecognition of environmental liabilities. This guide is consistent with Generally Accepted Accounting Principles (GAAP). Recognition of environmental liabilities is essential to determining the current book value of an entity. An entity may have future spending to extinguish risk and liabilities triggered in the past. Serious consequences, ranging from failed audits and poor capital stewardship to financial fraud and bankruptcy, exist for entities omitting material information from financial statements.

1.2Objective—This guide enables users to reliably determine if a given type of environmental liability exists and subsequently has been settled, consistent with the accounting definitions in place.

1.3This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

Committee	E 50
DocumentType	Guide
Pages	26
PublisherName	American Society for Testing and Materials
Status	Current
Supersedes	ASTM E 3123 : 2017

ASTM E 2173 : 2007	Standard Guide for Disclosure of Environmental Liabilities
ASTM E 2137 : 2017	Standard Guide for Estimating Monetary Costs and Liabilities for Environmental Matters
ASTM E 2173 : 2001	Standard Guide for Disclosure of Environmental Liabilities
ASTM E 2173 : 2007 : R2011	Standard Guide for Disclosure of Environmental Liabilities
ASTM E 2137 : 2022	Standard Guide for Estimating Monetary Costs and Liabilities for Environmental Matters
ASTM E 2173 : 2022	Standard Guide for Disclosure of Environmental Liabilities
ASTM E 2137 : 2006 : R2011	Standard Guide for Estimating Monetary Costs and Liabilities for Environmental Matters
ASTM E 3033 : 2016	Standard Guide for Beneficial Use of Landfills and Chemically Impacted Sites
ASTM E 2137 : 2001	Standard Guide for Estimating Monetary Costs and Liabilities for Environmental Matters
ASTM E 2173 : 2016	Standard Guide for Disclosure of Environmental Liabilities
ASTM E 2137 : 2006	Standard Guide for Estimating Monetary Costs and Liabilities for Environmental Matters