Industry Insights

GASB’s Asset Retirement Guidance

January 2017

Executive Summary

The Governmental Accounting Standards Board (GASB) recently released Statement No. 83, Certain Asset Retirement Obligations (ARO), which establishes recognition and measurement guidance for assets not covered by existing GASB standards. Governmental utilities that currently do not report AROs likely will see the greatest effect from the new guidance as well as higher education institutions with research reactors or health care facilities with X-ray machines or magnetic resonance imaging machines.


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