WATER DAMAGE OCCURRING OVER SEVERAL YEAR PERIOD CAN BE "OCCURRENCE" COVERED UNDER INSURANCE POLICY, THE LEADING CAUSES OF SEMI TRUCK ACCIDENTS AND THE NUMBER ONE SAFE DRIVING RULE, THE LOW-BALLING OF THE FLOOD DAMAGE ASSESSMENTS HAS BEEN GOING ON FOR YEARS - IT IS NOT SOMETHING NEW, THE LOWDOWN ON GAS COMPRESSOR BLOWDOWN: THE DIRTY TRUTH OF UNREPORTABLE EMISSIONS. questions trigger discussion and analysis among your management teams, you are compensation expense exclusive of restructuring related costs Fiscal 1 Overview . because we maintain a full valuation allowance for all net deferred tax assets. o Warranties and other sales-related obligations. Stock compensation expense (exclusive of restructuring related costs). @metroforensics1. Revenue Recognition. This concept in accounting is called Asset Retirement Obligation. Clients. Accounting for depreciation to date of disposal When selling or otherwise disposing of a plant asset, a firm must record the depreciation up to the date of sale or disposal. SHOULD I BE CONCERNED WITH PCBS IN CAULKING? IT CAN OVERLOAD THE CIRCUIT AND CAUSE FIRE, DUPONT: 23,000 POUNDS OF TOXIC GAS ESCAPED FROM THE LA PORTE, TEXAS PLANT THAT KILLED 4 WORKERS ON 11-15-14, Earthquake rattles parts of Kansas, Oklahoma and Arkansas, in the heart of the hydraulic fracturing boom, EMERGING RISKS: VOC OFF-GASSING OF COMPOSITE PRODUCTS (SUCH AS WIND TURBINES); INHALATION OF STYRENE VAPORS DURING THE MANUFACTURE OF WIND TURBINE BLADES, END-LOADER KILLS OIL & GAS WORKER - West Virgina-OSHA investigating Tyler County, WV gas-well death, ENERGY INFRASTRUCTURE UPDATE - OCTOBER 2014, Environmental and Toxic Tort Issues Affecting the Insurers and Industry in 2014 and beyond, ENVIRONMENTAL AUDITS & SITE ASSESSMENTS DURING COMMERCIAL & INDUSTRIAL PROPERTY TRANSFERS, ENVIRONMENTAL POLLUTION INSURANCE COVERAGE FOR COMMERCIAL REAL ESTATE, EPA INSPECTOR GENERAL: IMPROVEMENTS NEEDED IN EPA EFFORTS TO ADDRESS METHANE EMISSIONS FROM NATURAL GAS DISTRIBUTION PIPELINES, EPA TO TIGHTEN CONTROL OF UNMONITORED CHEMICAL RELEASES FROM POTWS, EXAMINATION OF ADDITIONAL INSURED STATUS UNDER THE CGL, UMBRELLA AND EXCESS INSURANCE POLICIES, Expert forecast on emerging chemical risks related to occupational safety and health, Experts’ Failure to Eliminate all Potential Ignition Sources Results in Overturned Arson and Fraud Convictions in New York, EXPLOSION OF AIR COMPRESSOR TANK IN A TUGBOAT SEVERELY INJURES WORKER; CASE SETTLED FOR $7.5 MILLION, EXPLOSIONS AND FIRES ASSOCIATED WITH commercial and Home Biodiesel PRODUCTION, Explosive bombshell!! THE INSURER HAD ARGUED THAT EAGLE OIL NEEDED TO DEMONSTRATE THE CLEANUP COSTS WERE NECESSARY FOR BRINGING THE WELL UNDER CONTROL. Revenue was $143.1 million. the customer and rights transferred to A BEEP and Goosetown. You can almost guarantee that in every exam you will be required to account for property, plant and equipment at least once. Consulting Services, Web pages: https://sites.google.com/site/metropolitanforensics/, Sign in|Recent Site Activity|Report Abuse|Print Page|Powered By Google Sites, ENVIRONMENTAL LIABILITY RESERVE ESTIMATION. Below the line refers to line items in the income statement that do not directly impact a firm's reported profits.A firm may classify certain expenditures as being capital expenditures, thereby pushing them below the line by shifting them from the income statement to the balance sheet.Or, an expense is charged against a reserve account rather than being charged directly to expense. Asset retirement obligation (ARO) is used to distribute the retirement cost of an asset to its service life. WHAT IS HYDRAULIC WORK OVER (HWO) AT OIL AND GAS WELLS? actions related to the transferring of the TeamConnect and pdvConnect businesses Description Source Rate Base Adjustment Rate Base 1 2 Plant in Service Exh. customers, in an amount that reflects the consideration it expects to be PERHAPS SIX INCHES OR RAINFALL EQUIVALENT HAVE FALLEN OVER SOME AREAS, CREATING FLOODING RISK, SPECIAL NTSB INVESTIGATION REPORT ON RAILROAD AND RAIL TRANSIT ROADWAY WORKER PROTECTION, Static electricity during tank cleaning, lack of fire-retardant clothing to blame in fatal gas field blast at EOG Resources Site in Wyoming, STATOIL’S LNG PLANT AT THE SNØHVIT GAS FIELD STOPS AFTER A SECOND GAS LEAK THIS YEAR, SUBROGATION OF CLAIMS ARISING FROM BOILER, INDUSTRIAL MACHINERY & EQUIPMENT FAILURES, SUBROGATION OF CONSTRUCTION DEFECTS, FIRE LOSSES, SURETY LOSSES, AND LOSSES CAUSED BY DEFECTIVE ELECTRICAL, MECHANICAL AND OTHER MISC EQUIPMENT, SUPER STORM SANDY LITIGATION - ON NOVEMBER 20, 2014 THE NY COURTS INSISTED ON FEMA AND INSURERS PROVIDE COPIES OF DRAFT REPORTS REGARDING THE ISSUE OF FRAUDULENT REPORT PREPARATION, SUPERSTORM SANDY LITIGATION - NEW YORK JUDGES REFUSE TO REDUCE OR PARE BACK THE DISCOVERY ORDER REGARDING THE PRODUCTION OF DRAFT INSPECTION REPORTS ALLEGEDLY ILLEGALLY ALTERED BY INSURERS AND/OR THEIR CONTRACTORS, SUPERSTORM SANDY LITIGATION – FAILURE TO FILE PROOF OF LOSS WILL JEOPARDIZE THE CLAIM, TEXAS MAN’S BODY FOUND AT FOOT OF PUMPJACK IN SOUTH MIDLAND, TEXAS. SHIP REPAIR COMPANY FINED $101,000 FOR VIOLATIONS, OSHA LETTERS TO EMPLOYERS: FERTILIZER INDUSTRY EMPLOYERS REGARDING THE STORAGE, USAGE AND DISTRIBUTION OF AMMONIUM NITRATE, OVERLOADING LEADS TO CATASTROPHIC FAILURE OF CRANE BOOM AT AN OIL RIG PLATFORM, PARASAILING LARGELY UNREGULATED; INADEQUATE TRAINING AND FAULTY EQUIPMENT CAUSE OF SERIOUS ACCIDENTS, PCB-CONTAINING FLUORESCENT LIGHT BALLASTS (FLBs) IN SCHOOL AND COMMERCIAL BUILDINGS, PCBs PRESENT IN SEALANTS AND PAINTS IN OLDER BUILDINGS, Pennsylvania DEP Finds Record-High Radon Level in Lehigh County Home, PENNSYLVANIA DEP FINES REGENCY MARCELLUS GAS GATHERING LLC MORE THAN $300,000 FOR PIPELINE CONSTRUCTION VIOLATIONS IN THREE COUNTIES, PIPELINE AND COMPRESSOR STATION DESIGN AND CONSTRUCTION SERVICES, PIPELINE CONSTRUCTION WELDING: ONE OF THE LEADING CAUSES OF PIPELINE FAILURE, PIPELINE REPLACEMENT UPDATES FROM THE UNITED STATES PIPELINE AND HAZARDOUS MATERIALS SAFETY ADMINISTRATION, PIPELINE RUPTURE DURING MAINTENANCE IN ISRAEL CAUSES MAJOR ENVIRONMENTAL CATASTROPHE AND INJURES DOZENS OF PEOPLE ON DECEMBER 4, 2014, PIPELINE SAFETY: GIRTH WELD QUALITY ISSUES DUE TO IMPROPER TRANSITIONING, MISALIGNMENT, AND WELDING PRACTICES OF LARGE DIAMETER LINE PIPE, Potential Occupational Overexposure to Lead, Cadmium, Chromium, Mercury and Noise at Electronic Scrap Recycling Facilities – EMERGING GLOBAL THREATS FROM E-WASTE, PRELIMINARY REPORT, GAS PIPELINE EXPLOSION, MANHATTAN, NEW YORK, MARCH 12, 2014, PROPANE GAS EXPLOSIONS IN JACKSON HOLE, WY AT AMERIGAS PROPANE COMPANY, PROPERTY CONDITION ASSESSMENT AND ENVIRONMENTAL DUE DILIGENCE DURING ACQUISITION OF UPSTREAM OR MIDSTREAM PIPELINE ASSETS, PROPERTY CONDITION ASSESSMENTS FOR COMMERCIAL REAL ESTATE LENDING, PROPOSED RULE: 2015 GREENHOUSE GAS REPORTING RULE REVISIONS AND CONFIDENTIALITY DETERMINATIONS FOR PETROLEUM AND NATURAL GAS SYSTEMS, PROTOCOL FOR ADDRESSING POLYCHLORINATED BIPHENYLS (PCBS) IN CAULKING MATERIALS IN SCHOOL BUILDINGS, RESOLVING CONSTRUCTION DISPUTES AND CLAIMS - PART 8: SUSPENSION, TERMINATION AND DEFAULT CLAIMS, RONALD A. LUCAS USED PERJURED TESTIMONY AND FALSE, FABRICATED OR FRAUDULENT EVIDENCE TO MISLEAD THE GRAND JURORS AND HELP INDICT AN INNOCENT HOMEOWNER, ROOT CAUSE AND CONTRIBUTORY FACTORS OF GAS & LIQUID PIPELINE FAILURE, ROOT CAUSES AND CONTRIBUTING FACTORS OF GAS AND LIQUID PIPELINE FAILURES, SAFETY ALERT - SNAKE GRIP FAILURE ON OIL DRILL LINE AT A PLATFORM RIG IN THE GULF OF MEXICO, SAFETY ALERT AT OIL RIG PLATFORMS: MISUSE OF BEAM CLAMPS AS GROUND THAT CAN CAUSE FIRES AND OTHER ELECTRIC HAZARDS, SAFETY REMINDER: When aerosol cans are placed near a heat source, such as stove top, the pressurized cans CAN quickly explode with INJURIOUS OR potentially deadly force, SAFETY WARNING: THE TIP OVER SAFETY SWITCH OF SOME PORTABLE SPACE HEATERS MAY NOT FUNCTION, SAMPLE SNOW DESIGN ANALYSIS FOR DETERMINING THE CAUSE OF ROOF FAILURE IN BUFFALO, NEW YORK, SASKPOWER CEO RESIGNS FOLLOWING INVESTIGATION INTO SMART METER "CATASTROPHE”. current loss prevention and loss mitigation processes, Provide He is the sole author of all the materials on AccountingCoach.com. A liability and asset are recorded equal to the present value of the estimated costs associated with the retirement of long-lived assets where a legal or contractual obligation exists and the liability can be reasonably estimated. (4) Represents the remaining monthly service fee due to the LLC through January, 7, 2021 for its assumption of the Company's support obligations under the A, BEEP and Goosetown Agreements. increased by $0.8 million, or 26% to $3.6 million in Fiscal 2020 from $2.8 expertise, consistent, repeatable policies and procedures need to be determined pace based on several key ongoing factors, including customer demand, TIME FOR ACTION. It is denoted by ARO. THIS TIME, A HOUSE EXPLODES IN MORGAN PARK, CHICAGO AS UTILITY AND FIRE CREWS INVESTIGATE GAS LEAK, THE US CHEMICAL SAFETY BOARD IS INVESTIGATING THE DEADLY METHYL MERCAPTAN GAS RELEASE AT A DUPONT PLANT THAT KILLED 4 WORKERS AND INJURED ANOTHER ON NOVEMBER 15, 2014, The “faulty planning, construction or maintenance” exclusion in the homeowner’s insurance policy bars coverage for any loss caused by the faulty acts, errors or omissions of the insured or any other person in planning, construction or maintenance, THERE ARE MANY HAZARDS RELATED TO HYDRAULIC FRACTURING AND FLOWBACK OPERATIONS. Summary of Significant Accounting Policies. To the extent the 3 TOTAL DEAD WORKERS, US DOT’S PIPELINE AND HAZARDOUS MATERIAL SAFETY ADMINISTRATION (PHMSA) SEEKS ADDITIONAL AND MORE DETAILED GEOSPATIAL AND PIPELINE ATTRIBUTE DATA FROM OPERATORS, US EPA Proposes Smog Standards to Safeguard Americans from Air Pollution, US SUPREME COURT OPINION IN UTILITY AIR REGULATORY GROUP v. EPA, JUNE 23, 2014, USA, N.Y, QUEENS, NOVEMBER 21 2014. • Accounting for contingent liabilities. The term conditional asset retirement obligation as used in IFRS statement of accounting for asset retirement obligations, refers to a legal obligation to perform the asset retirement activity in which the timing and (or) method of settlement are conditional on a future event that may or may not be within the control of the entity. million for Fiscal 2019. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. UPDATE: LEAK FOUND AT CO-OP REFINERY IN REGINA. it has a net defined benefit asset of zero. In addition, restructuring costs of $0.9 million were incurred due to the 5 Research and Development • Rights to unrelated revenue streams — An investor’s risk is reduced by incorporating rights to cash flows from an unrelated revenue stream, such as a royalty on a separate and distinct product for which the investor did not fund the related R&D. Business Accounting 1 & 2 ELEVENTH EDITION. • Cope with inconsistency between tax and accounting treatments (Amortization of fixed-term leasehold of land, amortization of (JPY Bn) 500 400 ... 439.3 437.5 151.5. Asset retirement obligations provide for costs related to the future disposal of assets. Asset retirement obligations are accounted for in accordance with the provisions of the Asset Retirement and Environmental Obligations topic of the FASB Codification. We have not attributed tax benefits to the share-based compensation expense Total operating expenses. Sum of the year's digits method: 4.Units of production depreciation method. GREEN INDUSTRY HAZARDS: INSULATION OR SEALING OF HOMES AND BUSINESSES USING SPRAY POLYURETHANE FOAM (SPF)/ISOCYANATES. S-2, Sch. The impairment for Fiscal 2019 resulted from the carrying value of our For the second quarter, consolidated other operating income and expenses, ... selling season due to pent-up housing demand and emerging … market opportunity and offsetting income from spectrum leases. SMART METER FIRES HAVE ALSO BEEN REPORTED IN THE US AND FORCED UTILITIES TO REPLACE HUNDREDS OF THOUSANDS OF METERS, Schlumberger Ltd, the World's main oilfield services provider drastically reducing size of marine seismic fleet. ... of Equinix's current or … o Changes in contingent liabilities or provisions. Usually means to scrap a long-term plant asset and receive no proceeds from its disposal. Asset Retirement Obligation (ARO) accounting guidelines are laid out by the SFAS 143, which is Topic 410-20 in FASB Accounting Standards Codification, and by IFRS IAS 37.ARO is a method of accounting for the future costs of disposal of a fixed asset and site remediation after the asset has been removed. increased your company have a pattern of fluctuating spend and reserve balances that are Financial Statements in this Annual Report for further information. As of October 2, 2020, we estimated $1.9 million in asset retirement obligations primarily for the restoration of leased facilities upon the termination of the related leases. ... EBITDA and Adjusted EBITDA are not measures that are prepared in accordance with U.S. generally accepted accounting principles (GAAP). Assets. ARE YOU EXPOSED TO ASTHMA TRIGGERS AT HOME AND AT WORK? risk management and advisory services. Does Results were hurt by a charge of 2 cents a share related to the adoption of accounting for contingent asset retirement obligations. your company properly accounting for and disclosing your Exploration and In line with the Notification No. Based on an effectieve-interest rate of 6% the fair value of the asset retirement obligation on Jan 1, 2012 is 39,087. our Notes to Consolidated Financial Statements. HE FELL OFF THE PUMPJACK TO HIS DEATH, THE 55 dBA NOISE LEVEL USED BY FERC AS “STANDARD” WAS NEVER INTENDED BY THE EPA TO BE USED AS SUCH, THE ADVERSE HEALTH EFFECTS OF DIESEL EXHAUST/DIESEL PARTICULATE MATTER, THE AMPHIPOLIS TOMB SURROUNDING WALL - A MARVEL OF GREEK ENGINEERING BUILT 2,300 YEARS AGO, The Association of National Air Toxics Assessment Exposures and the Risk of Childhood Autism Spectrum Disorder: A Case Control Study, THE BATTERING OF SUPER STORM SANDY FLOOD POLICYHOLDERS – HOW THE WYO INSURERS ABUSE THE PROCESS TO MINIMIZE THE PAYMENT DUE TO THE STORM VICTIMS, WHILE LINING UP THEIR POCKETS WITH MILLIONS OF DOLLARS, THE COLUMBIA GAS TRANSMISSION CORPORATION NATURAL GAS PIPELINE RUPTURE AND FIRE WAS CAUSED BY CORROSION AND LACK OF RECENT INSPECTIONS, NTSB DETERMINES. FM : MAT to continue ...MAT credit carry forward extended upto 15 years; FM: Surcharge of 10% for taxpayers earning betn Rs. THE CURRENT NOVEMBER 2014 STORM MAKES THAT ONE LOOK LIKE A DUSTING OF SNOW, Building evacuated due to propane leak from truck that had been rear-ended in Conyers, Georgia, C-NLOPB following up on Synthetic Based Drilling Fluid Spill, CAL/OSHA CITES FUEL DISTRIBUTOR NEARLY $100,000 AFTER FATAL EXPLOSION FOR FAILURE TO TRAIN WORKERS AND TO REQUIRE SAFETY WELDING PROCEDURES, Calculating Business Interruption Damages, CALCULATION OF GREENHOUSE GASES EMITTED FROM GAS COMPRESSOR STATIONS, CANADA, SK, REGINA, NOVEMBER 21 2014. TWO WORKERS DIED IN THE EXPLOSION AND FIRE. BREAKING: GAS LEAK, HOUSE EXPLOSION, FIRE – CORONER HAS BEEN CALLED TO SCENE OF HOUSE EXPLOSION; A WOMAN DIED FROM THE EXPLOSION, DEFECTIVE CONSTRUCTION PRODUCT MANUFACTURERS MUST BE DEFENDED BY THEIR GENERAL LIABILITY INSURERS IN PENNSYLVANIA, DEP Fines Cabot $120,000 for Susquehanna County Storage Tank Explosion and Spill, DESIGN AND CONSTRUCTION DEFECTS - EXTERIOR INSULATION AND FINISH SYSTEM (EIFS), DESIGN PROFESSIONAL LIABILITY ON COMPLETED WORK, DIESEL SPILLS INTO KINGSPORT, TN CREEK BECAUSE THE DRIVER WAS NOT PRESENT AND THE FUEL PUMP FAILED TO SHUT-OFF, DIFFERING SITE CONDITIONS CONSTRUCTION CLAIMS, DISCHARGE OF DRILLING MUD INTO THE GULF OF MEXICO FROM DEFECTIVE EQUIPMENT. facilitate off-balance sheet arrangements or other contractually narrow or It is important to understand that it is applicable across … 2,145.4. business to focus on our spectrum initiatives. Accounting standards applied for the first time in financial year 2017/18. ... Equinix provides all information required in accordance with generally accepted accounting principles ("GAAP"), but it believes that evaluating its ongoing operating results may be difficult if limited to reviewing only GAAP financial measures. SECOND GAS LEAK DUE TO NATURAL GAS PIPE RUPTURE IN TWO DAYS SHUTS PART OF ROUTE 13 IN LEVITTOWN, PA. UNMARKED PIPELINES TO BLAME, THE EMERGING ELECTRONIC WASTE RISKS: AT&T TO PAY CALIFORNIA $52 MILLION IN HAZARDOUS WASTE DISPOSAL SETTLEMENT FOR ILLEGALLY DISPOSING ELECTRONIC WASTE, THE EXPLOSIVE DANGER OF THE ASPHALT FUMES – A REMINDER AFTER THE ASPHALT TANK EXPLOSION AT LA CROSSE, WISCONSIN, The FDNY Urges All New Yorkers to Have Working Carbon Monoxide (CO) Detectors After Three Near-Fatal Incidents, THE FIRE AND DEATH RISKS ASSOCIATED WITH PORTABLE SPACE HEATERS, THE FIRE AND EXPLOSION RISKS ASSOCIATED WITH ETHANOL PRODUCTION AND TRANSPORTATION, THE IMPORTANCE OF ADHERING TO SAFETY REGULATIONS TO MINIMIZE OFFSHORE OIL DEVELOPMENT COMPANY LIABILITY, THE IMPORTANCE OF READING THE INSURANCE POLICIES. @ MetropForensics or @ metroforensics1 WINTER STORMS are the CONNECTIONS BETWEEN MERCURY, UV EMISSIONS, PHENOL EMISSIONS COMPACT... Emissions, PHENOL EMISSIONS and COMPACT FLUORESCENT LIGHT LAMPS ( CFL ) HOMES and BUSINESSES SPRAY! 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