Detail Meltdown - or Not ? - For Utilities   Oleh:  Panchula, Carol ; Jacob, John ; D'Souza, Julia ; Soderstrom, Naomi Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Accountancy vol. 189 no. 3 (2000), page 57-62. Topik: UTILITIES; meltdown; utilities Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.10 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel Taking a nuclear power plant out of service is a bit like trying to close a very large Pandora’s box. From a financial reporting perspective, the FASB project on accounting for the retirement of long - lived assets will have a significant impact on how the electric utility industry accounts for this often - rigorous process. The 53 utilities that currently have nuclear plants will have to spend almost $33 billion to decommission them. Because of the lack of guidance on accounting for these costs, most utility company financial statements do not fully reflect decommissioning liabilities. Under FASB’s proposed standard, however, utilities would have to recognize those liabilities at the time of initial plant operation. This would put a liability on the balance sheet that has been off - balance - sheet for the majority of utilities. The impact of this change would make key ratios, such as debt to equity, look much worse. FASB believes its proposal better reflects the economics of operating a nuclear power plant than does current accounting practice. FASB issued the original ED, Accounting for Certain Liabilities Related to Closure or Removal of Long - Lived Assets, in February 1996. The board is revising the ED - retitled Accounting for Obligations Associated With the Retirement of Long - Lived Assets - which is expected to be issued later this year. Because FASB is proposing a standard that would change how utilities account for nuclear decommissioning costs, it is imperative that CPA s at utilities with nuclear plants examine the standard’s implications for their companies. Now is the time to provide FASB with input on the accounting changes - before the standard becomes final. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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