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Text of GASB Exposure Draft: Certain Asset Retirement Obligations (PDF)
Governmental Accounting Standards Board [GASB] Link to more items from this source
[Official Guidance]
Dec. 22, 2015

41 pages. Dated Dec. 7, 2015; published online Dec. 22, 2015. "This proposed Statement would [1] establish criteria for determining the timing and pattern of recognition of a liability and a corresponding deferred outflow of resources for asset retirement obligations.... [2] require the measurement of the liability for an asset retirement obligation to be based on the best estimate of the current value of outlays expected to be incurred.... [3] require the current value of the liability for a government's asset retirement obligations to be remeasured for the effects of inflation or deflation at least annually.... [4] require disclosures of descriptive information about the nature and timing of a government's asset retirement obligations, the methods and assumptions used for the estimates of the liabilities, and the estimated remaining useful life of the associated tangible capital assets."

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