1、外文出處Business&EconomicReview,2006(4):21-27外文作者布萊恩.斯坦科，艾琳.布羅根，艾琳，亞歷山大，約瑟芬.蔡.梅齊原文：EnvironmentalAccountingHere'swhyprojectedcleanupcostsfromhazardouswastesiteswillbefindingtheirwayontothebalancesheetsofCorporateAmerica.MonitoringtheproductionanddisposalofhazardouswastehasbeenatoppriorityoftheUni

2、tedStatesgovernmentandtheEnvironmentalProtectionAgency(EPA)sincethemid-1970s,largelyasaresultoftheLoveCanalenvironmentaldisaster.Unfortunately,theremediationofhazardouswastesitesisnotfinished,andcleanupcostestimatesrangeanywherebetween$500billionand$1trillion.Americancorporationswillultimatelybeheld

3、accountableforthesecosts.Whatremainstobeseen,however,isexactlywho,when,andhowmuch.Intermsofcorporateresponsibilities,thisarticlediscussesrequirementsregardingthefinancialreportingofenvironmentalliabilitiesandcurrentinitiativesthatshouldimprovethemeasurementanddisclosureoftheseliabilities.Investorsan

4、dbusinessprofessionalsalikemustunderstandthesignificanceoftheseobligationsastheyrelatetocurrentandfuturecorporatefinancialstatements.FinancialReportingFinancialreportingrequirementshaveevolvedovertimeunderseveralgoverningbodies.TheSecuritiesActof1934createdtheSecuritiesandExchangeCommission(SEC)andg

5、aveittheauthoritytoadministerfederalsecuritieslawsandprescribeaccountingprinciplesandreportingpractices.CompaniesthatareconsideredunderthejurisdictionoftheSECincludeanycompanywhosestockispubliclytraded.Asaresult,thesecompaniesarerequiredtofollowSECdisclosurerequirementsintheirfilings.TheFinancialAcc

6、ountingStandardsBoard(FASB)isresponsibleforestablishingthecurrentstandardsoffinancialaccountingandreporting.ThestandardsorpronouncementsthattheFASBissues,"StatementsofFinancialAccountingStandards"(SFASs),areofficiallyrecognizedasauthoritativebytheSecuritiesandExchangeCommissionandtheAmeric

7、anInstituteofCertifiedPublicAccountants(AICPA),thenationalprofessionalorganizationofCPAs.Untilrecently,theAICPAplayedaprominentroleintheaccountingandreportingenvironment.ButasaresultoftheSarbanes-OxleyActof2002,theAlCPA'sAuditingStandardsBoard(ASB)waslimitedinitsroleofestablishingGenerallyAccept

8、edAuditingStandards.AuditingandrelatedprofessionalpracticestandardsastheypertaintopubliccompaniesarenowestablishedbythePublicCompanyAccountingOversightBoard(PCAOB),aprivate-sector,nonprofitcorporationcreatedtooverseetheauditorsofpubliccompaniesinordertoprotecttheinterestsofinvestorsandfurtherthepubl

9、icinterestinthepreparationofinformative,fair,andindependentauditreports.EvolutionofEnvironmentalAccountingStandardsThecommondefinitionof"environmentalaccounting"is"theidentification,measurement,andallocationofenvironmentalcosts,theintegrationoftheseenvironmentalcostsintobusinessdecisi

10、ons,andthesubsequentcommunicationoftheinformationtoacompany'sstakeholders"(AICPA).Typicalenvironmentalcostsincludeoff-sitewastedisposalcosts,cleanupcosts,litigationcosts,andotherrelatedcosts.Thefirstaccountingstandardsorinterpretationofstandardsthatcouldbeappliedtoenvironmentalliabilitieswe

11、reenactedbytheFASBin1975and1976.Theserulescoveredagenericgroupingofcontingentliabilities(includingenvironmentalliabilities).InitiallytheFASBstatedthatcontingentliabilitiesarisingfromenvironmentalcleanupcostsshouldbeaccountedforanddisclosedaccordingtoStatementofFinancialAccountingStandards(SFAS)No.5,

12、"AccountingforContingencies"(FASB1975).Oneyearlater,theFASBissuedInterpretation(FIN)No.14,"ReasonableEstimationoftheAmountofaLoss"(FASB1976),offeringadditionalguidanceregardinglosscontingencies.Essentially,thestandardrequiredlossestobeaccruedforwhentheybecame"probableandreas

13、onablyestimable."SFASNo.5isstillfollowedtodaybyaccountantswhoareconsideringthemeasurementanddisclosureofenvironmentalliabilities.SuperfundPriortoCongresspassinglegislationgrantingtheEPAauthoritytoidentifyandsanctionPotentiallyResponsibleParties(PRPs),mostreportedenvironmentalliabilitiesweremini

14、mal.Thatchangedin1980whenCongresspassedtheComprehensiveEnvironmentalResponse,CompensationandLiabilityActof1980(CERCLA),commonlyknownastheSuperfundAct.CERCLAestablishedstrictregulatoryrequirementsregardingthereleaseofhazardoussubstancesfromexistingorfuturewastesites.Sixyearslater,CongressamendedCERCL

15、AwiththeSuperfundAmendmentandReauthorizationAct(SARA).ThisstrengthenedtheEPA'sauthorityandincreasedtheagencysfundbalance.UnderthenewSuperfundAct,theEPAbecameresponsibleforidentifyingandlistingthoselocationsthroughouttheUnitedStateswherehazardoussubstancesorwasteeitherhavecausedormaycausedamageto

16、theenvironment.TheEPA,throughadministrativeorlegalaction,seekstorequirePRPstoacceptresponsibilityfortheremediationofcontaminatedsites.UnderCERCLA,aPRPisdefinedasanyindividualorcompanythatispotentiallyresponsiblefor,orcontributedto,thecontaminationproblemsataSuperfundsite.AccordingtoPaulD.Hutchinson,

17、thiscaninclude:?Currentownersoroperatorsofacilitieswherehazardoussubstanceshavebeendeposited?Ownersoroperatorsoffacilitiesatthetimehazardoussubstancesweredeposited?Generatorsofhazardoussubstancdepositedatfacilities?Transportersofhazardoussubstancesfacilities?Personswhoarrangedfordisposalortreatmento

18、fhazardoussubstancesatfacilitiesOncetheEPAidentifiesaPRP,aliability-basedprogramisusedtoaddressthecleanupofthesite.Undertheliability-basedprogram,apotentiallyresponsiblepartyisclassifiedintooneofthreecategories:?StrictLiability-thePRPisliableforcleanupcostsevenwhentherewasnonegligence?JointandSevera

19、lLiabilityanyonepartycanbeforcedtobearthefullcostoftheremedy,evenifseveralpartiescontributedtothewasteatasite?RetroactiveLiability-theprovisionsapplytoactionsthattookplacebeforeCERCLAwaspassedAftertheEPAidentifiesthePRPsandtheirrespectiveliability,itsendsnotificationtotheSECandtherespectivecompanies

20、orindividuals.RegulationS-KandFRR36Withtheincreasedenvironmentalregulation,theaccountingregulatorybodiesbegantoissuestandardsregardingthereportinganddisclosureofenvironmentalliabilities.In1982,theSECintegratedallofitsenvironmentaldisclosurerequirementsintoRegulationS-K,requiringdisclosureifpollution

21、expenditureshadamaterialeffectonthecompany'searnings.RegulationS-KItem101,knownastheDescriptionofBusiness,requiresregistrantstodisclose,amongotherthings,thematerialeffectsofcomplyingorfailingtocomplywithenvironmentalrequirementsonthecapitalexpenditures,earnings,andcompetitivepositionoftheregistr

22、antanditssubsidiaries.S-KItem103requiresregistrantstodescribeanymaterialconcerningpendinglegalproceedingsunlessthelegalproceedingsinvolveordinaryroutinelitigationincidentaltothebusiness.S-KItem303,oftenreferredtoasManagementDiscussionandAnalysisofFinancialConditionandResultsofOperations,requiresthed

23、isclosureofenvironmentalcontingenciesthatmayreasonablyhaveamaterialimpactonnetsales,revenue,orincomefromcontinuingoperations.In1989,theSECprovidedfurtherguidancebyissuingFinancialReportingRelease(FRR)36.FRR36discussesandillustratesvariousdisclosurerequirementsfortheManagement'sDiscussionandAnaly

24、sis(MD&A)componentoftheSECannualreport10-Kfilingandtheshareholderannualreport.StaffAccountingBulletin(SAB)92Evenwiththisincreaseinregulation,companieswerestillfindingitdifficulttoestimateliabilitiesthatneededtobedisclosed.Inresponse,theSECissuedStaffAccountingBulletinNo.92(SAB92)tofurtherclarify

25、itsdisclosurerequirements.SAB92specificallydiscussedthedisclosureofenvironmentalliabilitiesinthebalancesheet.TheSEC'spositiononthedisclosureofenvironmentalliabilitieswasstrengthenedthroughanagreementwiththeEPAin1990.Essentially,theEPAwouldprovidetheSECwithcertainquarterlyinformation,includingnam

26、esofPRPs,alistofallcasesfiledunderCERCLA,andalistofcivilandcriminalcasesunderfederalenvironmentallaws.Inexchangeforthisinformation,theSECagreedtotargettheenforcementofenvironmentaldisclosures.AICPAStatementofPosition96-1By1996,theEPAhadidentifiedmorethan36,000hazardouswastesitesintheUnitedStates.The

27、EPAthentookwhattheyconsideredtobethemostsevereofthecontaminatedsitesanddevelopedtheNationalPrioritiesList(NPL).Thislistcontained1,405sites,eachreferredtoasaSuperfundsite.FromtheseSuperfundsitesalone,theEPAproceededtoidentify15,000PRPsconnectedtothesesites.ThesePRPswouldeventuallyberesponsibleforclea

28、nupcoststhatwouldrangefrom$35millionto$1billionpersite.ThereleaseofthisinformationrevealedtotheaccountingprofessionthattheremedialliabilitiesofthePRPsweresignificantand,therefore,requiredbetteraccountinganddisclosure.Asaresult,theAICPAissuedStatementofPosition(SOP)96-1,"EnvironmentalRemediation

29、Liabilities,"whichprovidedspecificguidanceonestimationandthefinancialreportingofenvironmentalaccrualsandcontingencies.AnalysisoftheStandards(PastandPresent)(A) RecognitionofEnvironmentalLiabilitiesRecognitionpertainstowhenaliabilityshouldbereportedinthefinancialstatements.Contingentliabilitiesa

30、reobligationsthataredependentupontheoccurrenceornonoccurrenceofoneormorefutureeventstoconfirmtheamountpayable,thepayee,thedatepayableoritsexistence.Themostsignificantliabilitythatafirmfacesinrelationtoenvironmentalaccountingcomprisestheremediationcosts.Remediationcoststypicallyincludecleanupcosts,li

31、tigationcosts,andothercostsassociatedwithlegalcompliance.FASNo.5,mentionedearlier,requiresthataprovisionforalosscontingencyberecordedandaliabilityrecognizedinfinancialstatementswhenbothofthefollowingconditionsaremet:?Itisprobablethatanassethasbeenimpairedoraliabilityhasbeenincurredatthedateofthefina

32、ncialstatements?TheamountofthelosscanbereasonablyestimatedFASBInterpretation(FIN)No.14providesadditionalguidanceonhowtorecognizealosscontingencywhentheestimatedlossiswithinaspecifiedrange.Itrecommendsthattheminimumamountoftherangebeaccrued,unlesssomeamountwithintherangeappearsatthetimetobeabetterest

33、imatethananyotheramountwithintherange.TheAICPASOP96-1expandsthetypesofcoststhatmaybeappropriatelyaccruedandtheabilitytoconsidertechnologiesunderdevelopmentinordertohelpassesstheultimatecostofremediationeffortsmoreaccurately.PRPsmustnowuseamoreconservativeapproach(increasetheprobabilityoflossrecognit

34、ion)thanunderthepriorprovisionsofSFASNo.5toascertainiftheyshouldaccruesuchliabilities.AccordingtotheSOP96-1,theprobabilitycriterionofSFASNo.5ismetiftheEPAhasdecided(orprobablywill)thatthecompanymustparticipateinremediation.Liabilitiesmustnowberecognizedwhenlitigationhascommencedoranassertionofaclaim

35、isprobablewheneverthePRPisassociatedwiththatsite.Inaddition,PRPsmustnowaccruepotentialenvironmentalremediationliabilities"upfront,"allatonce,ratherthanrecognizetheexpenseswhentheyareactuallypaid.(B) AccountingforRecognizedEnvironmentalLiabilitiesWhenacompanyhasdeterminedthatanenvironmental

36、obligationexists,itmustbemeasuredandaccountedforbasedonavailableinformation.Keyaccountingissuesrelatedtotherecognitionofenvironmentalliabilitiesarehighlightedbelow:EstimatesoftheEnvironmentalLiabilityAccordingtoAlCPA'sSOP96-1,oncealiabilityisdetermined,itsmagnitudemustbeestimated.Indevelopingtheestimates,according