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Since the landfill is mandatory as per the environmental regulation, they must monitor the site for 30 years after it is full to make sure there is no environmental damage. Therefore it is a legal obligation by a statue, and therefore as per GAAP and the CICA handbook should be capitalized.
Part B
The $100,000 site closing provision was calculated as follows:
300,000 tons (Thunder Bay)
500,000 tons (Vaughan)
800,000 tons
800,000 tons/ 1000 tons * $125
=$100,000
This is not appropriate according to GAAP because they did not recognize the fair value of the liability for an asset retirement obligation in the period in which it was incurred if they have a reasonable estimate of fair value which is the $125 per ton...
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Therefore it is a legal obligation by a statue, and therefore as per GAAP and the CICA handbook should be capitalized.
Part B
The $100,000 site closing provision was calculated as follows:
300,000 tons (Thunder Bay)
500,000 tons (Vaughan)
800,000 tons
800,000 tons/ 1000 tons * $125
=$100,000
This is not appropriate according to GAAP because they did not recognize the fair value of the liability for an asset retirement obligation in the period in which it was incurred if they have a reasonable estimate of fair value which is the $125 per ton...
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General points of the essay
Accounting Corporation Regulation
Environmental Business Regulation
Types Of Costs In Accounting
Accounting Regulation Bodies
Environmental Law
Accounting Costs
Accounting Fixed And Variable Costs
COMPETITIVE IMPLICATIONS OF ENVIRONMENTAL REGULATION IN
Environmental Ethics And The Principles Of Pluralism And Environmental Pragmatism
How People Make Their Own Environment: A Theory of Genotype-Environmental Effects
Consider The Nature Of The Development In Environmental Law In England And Wales Over The Past 20 Years By Identifying And Discussing These Two Aspects: Key Influences In Its Evolutions And The Principles That Underpin It.
Environmental
environmental damage of landfills
The Choosing Of A Landfill Site
How To Make A Web Site
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