Response to the FASB exposure draft, "proposed statement of financial accounting standards--accounting for certain liabilities related to closure or removal of long-lived assets"

The Financial Accounting Standards Committee of the American Accounting Association is charged with responding to requests by standard setters on issues relating to financial reporting. As part of its responsibilities, the Committee responded to FASB Exposure Draft (ED), Proposed Statement of Financial Accounting Standards - Accounting for Certain Liabilities Related to Closure or Removal of Long-Lived Assets. The contents of that response are summarized.