Asset Retirement Obligation

Business, Legal & Accounting Glossary

Definition: Asset Retirement Obligation


Asset Retirement Obligation


Full Definition of Asset Retirement Obligation


An accounting rule related to a balance sheet entry for anticipated retirement costs once the end of useful life of an asset is reached. The costs must be accounted for using fair market value at the time of retirement, whether through a sale or disposal.


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Asset Retirement Obligation. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
December 06, 2021 https://payrollheaven.com/define/asset-retirement-obligation/.
Chicago Manual of Style (CMS):
Asset Retirement Obligation. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/asset-retirement-obligation/ (accessed: December 06, 2021).
American Psychological Association (APA):
Asset Retirement Obligation. PayrollHeaven.com. Retrieved December 06, 2021
, from PayrollHeaven.com website: https://payrollheaven.com/define/asset-retirement-obligation/

Definition Sources


Definitions for Asset Retirement Obligation are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.