Standards Manage Your Business
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Standards Manage Your Business
We Manage Your Standards
Standard Guide for Disclosure of Environmental Liabilities
1.1 Purpose—The purpose of this guide is to provide a series of options or instructions consistent with good commercial and customary practice in the United States for environmental liability disclosures accompanying audited and unaudited financial statements. This guide is consistent with Generally Accepted Accounting Principles (GAAP)2 issued by Financial Accounting StandardDetails Board (FASB), as well as related statements, rules, regulations, and/or procedures issued by Government Accounting StandardDetails Board (GASB), Public Company Accounting Oversight Board (PCAOB), Securities and Exchange Commission (SEC), and Federal Accounting StandardDetails Advisory Board (FASAB). This guide is intended to be consistent with other issuers of accounting StandardDetails and practices, including International Accounting StandardDetails Board (IASB).
1.2 Objectives—The objectives of this guide are to determine the conditions warranting disclosure and the content of appropriate disclosure.
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