Preparing for asset retirement: are you recognizing asset retirement obligations when they are incurred? SFAS No. 143 suggests this practice to help to improve comparability between organizations' financial statements. (Feature Story).

From: Healthcare Financial Management | Date: April 1, 2003| Author: | Copyright information

For years, accounting for asset retirement obligations has presented a challenge for providers. Similar healthcare organizations frequently have accounted for similar obligations related to asset retirements differently, which has reduced the comparability of their financial statements.

To correct this inconsistency, the FASB has called for a consistent, balance-sheet approach toward reporting with its Statement of Financial Accounting Standards (SFAS) No. 143 Accounting for Asset Retirement Obligations. Under SFAS No. 143, organizations need to identify and report on asset ...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and trade journal articles from HighBeam Research

(Including press releases, facts, information, and biographies)

Fair value accounting: fair for whom?(President's Page)
; ...Accounting Standards Board (FASB) added a fair value measurement project to its agenda last...David Tweedie, IASB chairman, have a fair value orientation to financial reporting. Herz...concluded in many recent pronouncements that fair value information is the most relevant, wants...
Recent FASB Initiatives on Fair Value
; ...assets and liabilities will be measured at fair value. The issue of whether cost or fair value is the most meaningful and "transparent...for years. For instruments where reliable fair value information is readily available, there isn...
Fair value accounting: are you ready?(Accounting)(Column)
; ...Standards Board (FASB) has long believed that fair value accounting is the most relevant basis...companies and analysts accustomed to fair value accounting and disclosures, but the move...article I'm not going to delve into whether fair value accounting is the appropriate ...
A research note: Fair value and executory contracts: moving the boundaries in international financial reporting
; ...state in some standards. The professional debate about fair value obscures the underlying boundary shift. Fair value is used to simulate completion of the transaction cycle. The use of fair value in this way is accompanied by a change in emphasis...
New requirements for measuring and reporting fair value in GAAP.
; ...Financial Accounting Standards No. 157, Fair Value Measurements, which was finally issued...establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. The standard gives guidance...
Fair Value Accounting Works Well, but Is Not Perfect
; Fair value accounting offers users of financial...increasingly question the efficacy of fair value measures, which require companies to...values. Debate about the usefulness of fair value has increased as illiquid and volatile...
The new fair value hierarchy: key provisions, implications, and effect on information usefulness.(Statement of Financial Accounting Standards )
; ...of Financial Accounting Standards No. 157, Fair Value Measurements, introduces a fair value hierarchy that prioritizes the data companies...expected to improve existing practices concerning fair value reporting. This paper examines the key provisions...
Financial reporting quality: is fair value a plus or a minus?
; ...The issue of when, rather than how, fair value measurement should be applied is still...values have yet to be articulated: when is fair value accounting appropriate and when is it...this paper, under what circumstances is fair value a plus or a minus? To prepare for my...
SFAS 159: The Fair Value Option
; ...Accounting Standards (SFAS) 159, The Fair Value Option for Financial Assets and Fianancial...watershed event in FASB's drive toward a full fair-value basis for financial accounting. While...familiar with recent controversies over fair value measurement, the scope of FASB's ...
Fair value accounting.(standards by regulatory agencies)
; ...Accounting Standards Board (IASB) will agree, fair value accounting poses many challenges and...significant industry debate. The subject of fair value accounting has been discussed in the...for well over a decade. Advocates of fair value accounting believe that fair ...