Confirmation And Measurement Of Mining Enterprises Retirement Obligation

It has been gradually attracting the attention of theorists and practitioners to consider environmental governance and ecological restoration in the accounting norms, especially the retirement debt accounting treatment. Accounting Standards for Enterprises issued by the Accounting Standards Committee (CASC) in2006regulated the retirement obligations accounting treatment in the oil, gas and nuclear power operations. But the existing criteria are not enough guidance in the operational level. Moreover, it has not been mentioned whether or how checks retirement obligations for mining enterprises which have similar economic environment characteristics to these operations.The paper is based on the Chinese current accounting standards, and drawing lessons from the retirement debt treatment from the U.S. Accounting Standards Board (FASB), the International Accounting Standards Committee (IASC), the UK Accounting Standards Board (ASB). Combining the normative research methods and case studies, this paper explored the confirmation basis, conditions, measurement methods and the specific mode of the mining enterprises retirement debt. Taking Sunite mine as an example, this paper got some guidance for the other mining enterprises to fulfill their environmental governance and ecological recovery obligations, and complete the conformation and measurement at the beginning of the exploitation.Meanwhile, this paper has also proposed some policy recommendations, that is, formulating the specialized accounting standards and expanding the scope of application, improving the accounting system of retirement debt and enhancing the practice operational, increasing the guidance of the government level and giving the tax supports.