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Home / Capabilities / Complex Financial Reporting / Assent 143 & Asset Retirement Obligations (ARO)
Assent 143 is a software solution designed to streamline the complex process of managing and measuring asset retirement obligations (ARO) according to the guidelines set forth in ASC 410-20 (SFAS 143) by the Financial Accounting Standards Board (FASB). SFAS 143 requires companies to recognize and measure liabilities associated with the retirement of long-lived assets, including asset retirement costs such as decommissioning and dismantling costs, as well as removal and restoration obligations.
Traditionally, managing these obligations has been a cumbersome task, often relying on error-prone spreadsheets. Assent 143's user-friendly interface simplifies data entry and manipulation, ensuring accurate measurement of ARO liabilities and fair value obligations in accordance with financial accounting standards.
Developed over 15 years through collaboration with various industry participants, Assent 143 incorporates best practices gleaned from reviewing countless spreadsheets and technical discussions with leading audit firms. Currently trusted by over 100 companies, Assent 143 empowers you to:
Getting started with Assent 143 is smooth and efficient. Our dedicated team will guide you through every step of the process, ensuring a successful implementation that minimizes disruption and maximizes your return on investment, while ensuring compliance with SFAS 143 for asset retirement obligations (ARO).
Our commitment to your success extends beyond the initial setup. We offer ongoing support to ensure you continue to get the most out of Assent 143. This includes:
Ready to ensure your company's compliance with SFAS 143 and effectively manage your asset retirement obligations? Our expert team can help you navigate the complexities of liability and obligation, ensuring fair value assessments and seamless integration. Don't leave your compliance to chance—reach out to us today to secure a comprehensive agreement that meets all regulatory standards. Contact us now to get started!
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