Asset Retirement Obligation,
What is Asset Retirement Obligation?
You can define Asset Retirement Obligation as, In accounting, Asset Retirement Liability (ARO) defines a legal obligation associated with the long-term termination of an asset for which the company is responsible for disposing of goods or cleaning up an effective substance at some point in the future. The ARO should be included in the company's financial statements to provide a more accurate and comprehensive picture of the company's total value.
- Fixed Asset Liability (ARO) is a legal obligation associated with the disposal of long-term assets, which may require the company to dispose of goods or remove hazardous materials from the leased premises.
- Companies need to include their ARO in their financial statements to accurately reflect their added value.
- The ARO rules are administered by the Financial Accounting Standards Board (FASB), as defined in Rule # 143: Accounting for Pension Assets.
Literal Meanings of Asset Retirement Obligation
Meanings of Asset:
A useful or valuable thing, a person or a quality.
Sentences of Asset
Immediate reflexes are your greatest asset
Synonyms of Asset
blessing, gift, merit, attractive feature, strong point, talent, attraction, strength, benefit, boon, strong suit, help, long suit, resource, recommendation, bonus, beauty, value, virtue, selling point, good point, advantage, forte, aid
Meanings of Retirement:
The act or process of quitting and completing work.
Removing the jury from the courtroom to deliver the verdict.
Sentences of Retirement
One man will retire
Will complete four years with a one-piece jacket mark Comet losage du Jouriles de Lever de la Retreat del Deliberation, Aouc des Mبلubles Applications, du Carbournte, des Lameres et de la Pipeteri, Moines that need air n'ait déjà count count par . Forney
I live alone in Miami
Synonyms of Retirement
giving up work, retreat, obscurity, stopping working, seclusion, loneliness, isolation, privacy, stopping work, solitude
Meanings of Obligation:
An act or behavior with which an individual is morally or legally bound by an obligation or responsibility.
Sentences of Obligation
It is my duty to take care of them
Synonyms of Obligation
moral imperative, duty, commitment, responsibility