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Contaminated Sites: A Practical Approach to Section PS 3260

This publication provides guidance on how to account for and report a liability associated with the remediation of a contaminated site in accordance with Section PS 3260, Liability for Contaminated Sites.

The publication explains a three-step approach to apply this standard. The publication also includes a helpful checklist of items to consider at each step of the process. The three steps are:

  1. Identification - Identify sites that are in the scope of the standard
  2. Recognition - Determine if each site in scope meets all five of the recognition criteria
  3. Measurement - Determine an appropriate estimate for the liability for each site that meets the criteria

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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.

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