us_11_1c_polluter_0804110 - Case 11-1 Polluter Corp....

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Copyright 2010 Deloitte Development LLC All Rights Reserved. Case 11-1 Polluter Corp. Polluter Corp. (the “Company”), an SEC registrant, operates three manufacturing facilities in the United States. The Company manufactures various household cleaning products at each facility, which are sold to retail customers. The U.S. government granted the Company emission allowances (“EAs”) of varying vintage years (i.e., the years in which the allowance may be used) to be used between 2010 and 2030. Upon receipt of the EAs, the Company recorded the EAs as intangible assets with a cost basis of zero, in accordance with The Federal Energy Regulatory Commission (“FERC”) accounting guidance for EAs. The Company has a fiscal year end of December 31. As background, in an effort to control or reduce the emission of pollutants and greenhouse gases, governing bodies typically issue rights or EAs to entities to emit a specified level of pollutants. Each individual EA has a vintage year designation. EAs
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This note was uploaded on 03/06/2012 for the course GEO 505 taught by Professor Johnschmidt during the Spring '12 term at CUNY Graduate School of Journalism.

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us_11_1c_polluter_0804110 - Case 11-1 Polluter Corp....

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