An environmental remediation liability may arise in connection with an obligation to retire a tangible long-lived asset. In such situations, the environmental remediation liability may be within the scope of either ASC 410-20 or ASC 410-30 depending on the facts and circumstances. Determining which set of guidance to apply to an environmental remediation liability is critical because there are significant differences between ASC 410-20 and ASC 410-30, as summarized in the table below.
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This publication provides comprehensive guidance; however, it does not address all possible fact patterns, and the guidance is subject to change. Consult a Deloitte & Touche LLP professional regarding your specific issues and questions.