Question

Review the GASB’s latest publications or pronouncements on pollution remediation.

Required
1. Summarize the GASB’s definition of pollution remediation obligations.
2. Describe the potential effects of identified pollution remediation obligations on the financial statements of SLGs. Specifically, what effects would such obligations have on an entity’s liabilities? On its capitalized assets?
3. What are the obligating events that give rise to potential obligations?
4. When are liabilities and expenditures and/or expenses associated with pollution remediation potentially accrued?



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  • CreatedOctober 25, 2014
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