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Tuesday
24
APR

Game Changer - How Accounting Changes to Environmental Reporting

08:00
10:00

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The ASTM standards for financial disclosures of Environmental matters changed in 2017 from “minimum value” to “fair market value” reporting. These now dovetail with GAAP standards. Implementation of these standards could represent significant bottom line impacts for companies and their investors in the reporting of Asset Retirement and Environmental Obligations and Commitments as well as Environmental Contingencies and Guarantees. Our expert panelists will explore:

Key findings of ASTM Review Board after evaluating environmental reserves on over eight hundred 10K Reports.
How ASTM has incorporated GAAP standards into the revised ASTM E2137-17 (Environmental Valuation) and E2173 (Disclosure) Standards - The shift from "Minimum Value" reporting to "Fair Market Value" reporting.
Environmental Valuation Methodologies approved by ASTM and how using these differs from current reporting based on “Estimated Minimum Value.”
WHY this change is important to your company, clients and investors. Will this impact the Passaic River Clean-up Reserve Reporting?
Who will be the early adopters of the revised ASTM Valuation and Disclosure Standards? Why would someone early adopt these standards? How quickly and who are the candidates to adopt and incorporate these updated standards into their 10-K Reporting?
Given the current “enforcement” environment, when can we expect regulation requiring use of these standards, who will most likely be enforcing these standards, and who will be affected?