Section PS 3280 – Asset Retirement Obligations

July 01, 2020

Applies to:

  • Legal obligations, including obligations created by promissory estoppel, associated with the retirement of a tangible capital asset resulting from its acquisition, construction, development, or normal use.
  • Asset retirement obligations can be associated with tangible capital assets, controlled by a public sector entity that are in productive use and those no longer in productive use.

 

BDO can help you navigate the road ahead

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.

Contact us today to start the conversation.

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