Purity

Purity - Purity Oil Sales Superfund SiteExperience the...

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Purity Oil Sales Superfund Site- Experience the remediation timeline
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Objective Methodology for external corporate reporting under uncertainty, when the uncertainty comes from multiple sources and changes over time. Sources of uncertainty: existence of the liability measurability of the liability
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Reporting and Measurement Issues Key issue: How does uncertainty affect how we report the liability? Has the company incurred a liability ? Are reliable estimates available? How are the costs going to be allocated to other “potentially responsible parties” (PRP)? Will recovery attempts from other parties be successful?
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Goal Determine when along the remediation timeline the degree of uncertainty has decreased enough for the reporting company to be willing to disclose and/or accrue the liability.
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Superfund Applies to current and previous owners, transporters, contributors, . .. Applies to individuals and corporations regardless of the degree of involvement. Joint and several liability of responsible parties One molecule and you may be responsible for the whole cleanup
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Purity Oil Gathered used oil from various sources. Used oil is cleaned. Alternatives: Is this approach better than putting the oil on the road to minimize dust? Cleansing process produced clean oil and
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This note was uploaded on 08/06/2008 for the course ESM 281 taught by Professor Cerf during the Spring '08 term at UCSB.

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Purity - Purity Oil Sales Superfund SiteExperience the...

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