When the Gold is Gone: Reporting of Asset Retirement Obligations for the Ultimate Cleanup of Closed Mining Operations

Q4 Business, Management and Accounting

Accounting and the Public Interest Pub Date : 2010-01-01 DOI:10.2308/API.2010.10.1.57

Paula A. Wilson, Fern Zabriskie

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引用次数: 4

Abstract

ABSTRACT: Hardrock mining companies contribute positively to the U.S. economy. However, they also cause serious degradation to the surrounding environment. According to the Environmental Protection Agency, hardrock mining companies are among the greatest polluters in the United States. Mining companies are responsible for satisfying legal obligations arising under environmental laws that include cleanup and exit costs for all mines shut down. These environmental liabilities are called asset retirement obligations and under FAS No. 143, U.S. mining operators are required to recognize their asset retirement obligations upon acquisition or construction of their mines. In this paper, we examine the financial reporting for asset retirement obligations for gold mining companies. Based on a simple ratio analysis, it appears that top U.S. gold mining operators have sufficient financial resources to meet their future asset retirement obligations. However, when we conducted sensitivity analysis to exclude intangibl...

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当黄金消失:关闭采矿作业最终清理的资产退休义务报告

摘要:硬石矿业公司对美国经济做出了积极的贡献。然而，它们也对周围环境造成了严重的破坏。根据美国环境保护署的数据，硬石矿业公司是美国最大的污染者之一。矿业公司有责任履行环境法规定的法律义务，包括所有关闭矿山的清理和退出费用。这些环境负债被称为资产退休义务，根据FAS第143号，美国矿业经营者必须在收购或建设矿山时确认其资产退休义务。本文对金矿企业资产退休义务的财务报告进行了研究。根据简单的比率分析，美国顶级金矿运营商似乎有足够的财务资源来满足其未来的资产退休义务。然而，当我们进行敏感性分析，以排除无形的…

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来源期刊

Accounting and the Public Interest Business, Management and Accounting-Accounting

CiteScore

1.20

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0.00%

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