ASC Insights series- ASC 410-20 and ASC 410-30

“Uniqus’ ASC Insights Series: Guide to Accounting Standards”, is where we combine our collective wisdom to understand various Accounting Standard Codifications (ASCs) comprehensively and in a crisp manner. This series is an invaluable tool for accounting professionals, offering detailed explanations, illustrative examples, and our expert point of view. Designed to support your professional journey, this guide helps you navigate complex accounting scenarios and deepen your knowledge.

ASC 410-20 provides guidance on accounting for asset retirement obligations (AROs) prescribing the principles for recognition, measurement, and disclosure of liability relating to asset retirement obligations. ASC 410-30 provides guidance on measuring an estimated environmental remediation liability including which type of costs to include in the estimate, how to consider the effects of future developments, and how to allocate the liability between involved parties.