Applying financial reporting standards can be quite complex. The BDO team can help you assess your situation and prepare for the opportunities and challenges involved.
Section PS 3260 does not apply to:
- Costs for acquisition or betterment of Tangible Capital Assets, to the extent that such costs do not exceed the future economic benefits related to the asset or post-remediation fair value of the asset if held for sale (e.g. redevelopment of a contaminated site for use or sale);
- Liabilities associated with the retirement of a long-lived tangible capital asset in productive use that result from its acquisition, construction or development and ongoing use (e.g. operating a nuclear facility);
- Liabilities associated with the disposal or sale of long-lived tangible capital assets (e.g. privatization of water utility); and
- Liabilities for closure and post-closure care of a solid waste landfill site when the site or a phase stops accepting waste as this is specifically dealt with under Section PS 3270, Solid Waste Landfill Closure and Post-Closure Liability.