ASTM E3123-24
Standard Guide for Recognition and Derecognition of Environmental Liabilities

Scope: 1.1 Purpose—The purpose of this guide is to provide a series of options or instructions consistent with good commercial and customary practice for recognition and derecognition of environmental liabilities. This guide is consistent with Generally Accepted Accounting Principles (GAAP). Recognition of environmental liabilities is essential to determining the current book value of an entity. An entity may have future spending to extinguish risk and liabilities triggered in the past. Serious consequences, ranging from failed audits and poor capital stewardship to financial fraud and bankruptcy, exist for entities omitting material information from financial statements.

1.2 Objective—This guide enables users to reliably determine if a given type of environmental liability exists and subsequently has been settled, consistent with the accounting definitions in place.

1.3 This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

ASTM E3123-24 Referenced Document

ASTM E2137 Standard Guide for Estimating Monetary Costs and Liabilities for Environmental Matters
ASTM E2173 Standard Guide for Disclosure of Environmental Liabilities
ASTM E3033 Standard Guide for Beneficial Use of Landfills and Chemically Impacted Sites*， 2025-05-01 Update

2024 ASTM E3123-24 Standard Guide for Recognition and Derecognition of Environmental Liabilities
2018 ASTM E3123-18 Standard Guide for Recognition and Derecognition of Environmental Liabilities
2017 ASTM E3123-17 Standard Guide for Recognition and Derecognition of Environmental Liabilities