An Asset Retirement Obligation (ARO) is a legally enforceable liability associated with the retirement of a tangible capital asset. What does ARO stand for? To determine if a project is located within a Pilot area, enter the project address in the ARO Web Form . Looking for the definition of ARO? “I just need to find 11,780 votes.” -Pres. "global warming" The statement applies to retirement obligations for tangible long-lived assets. Although, you will still need to include the GASB 83 disclosures. Each requirement is prioritized as a “must have,” a “should have,” a “could have,” or a “won’t have.” Most Likely Duration - An estimate of the most probable length of time needed to complete an activity. ----- ACRONYMS & ABBREVIATIONS 301(H)APPS 301(H)INFO 403C 5SEG A&C A&R A/WPR AA AA AA AA AA AA AAA AAA AAAS AAEE AAEM AAES AANWR AAOHN AAP AAP AAP AAPCO AAR/BOE AARC AARP ABA ABAC ABES ABMA ABTRES AC AC AC ACA Applications for Variance from Secondary Treatment Requirements (File) 301 (h) Application Tracking System Section 403(c) … This business slang dictionary will help you figure out WTF is going on in your Slack channels at work. ARO: After Receipt of Order: B; Acronym ... A balance sheet is often described as a “snapshot of a company’s financial condition.” ... Additional acronyms are available via the Acronym Finder. ©2021 Baker Tilly US, LLP, The liability should be recognized when it is incurred and possible to estimate. The meaning of the ARO is also explained earlier. Till now you might have got some idea about the acronym, abbreviation or meaning of ARO Mostly coming from user contributions, it is … In addition to ARO, Abrasion Resistant Overcoating may be short for other acronyms. In that case, if the government is a less than 50 percent co-owner of the facilities it should use the non-government majority owner or operator’s measurement value, instead of the measurement criteria in GASB 83. ARO: Average Rate Option (finance) ARO: Atlanta Regional Office (Georgia) ARO: Air Traffic Services Reporting Office (Italy) ARO: Action Recovery Online (Montana) ARO: Alquiler Rehabilitacion Operacion (Spanish: Rental Rehabilitation Operation) ARO: Alternate Retail Outlet (Harley-Davidson) For more information on this topic, or to learn how Baker Tilly's energy and utilities practice can help, contact our team. If you are the minority owner of a capital asset and the majority owner or operator is a non-governmental entity, keep on doing what you’re doing – no changes in your measurement approach are needed. ARO. Other people might have an idea. What Is an Asset Retirement Obligation? NASA, ARO: Acquisition Reform Office: ARO: Agriculture Research Organization: ARO: Action Recovery Online (Montana) ARO: Autosomal Recessive Osteopetrosis: ARO: Alternate Regulatory Option: ARO: Application Response Option (Computer Associates) ARO: Association of Regional Observatories (UK) ARO: Abrasion Resistant Overcoating: ARO: All Rods Out: ARO: Animal … EXECUTIVE SUMMARY TO PROVIDE BUSINESSES WITH GUIDANCE ON WHEN and how to recognize a liability for asset retirement obligations, FASB issued Statement no. Rate it: ARO: Abrasion Resistant Overlay 143, Accounting for Asset Retirement Obligations. Statement No. Retrieved January 10, 2021, from https://www.allacronyms.com/ARO/government. All Acronyms. When used, the acronym will include a time-frame.... See full answer below. The oil and gas industry uses many jargons, acronyms and abbreviations. ARO = Automatic Request for Retransmission Looking for general definition of ARO? Archrock Partners Finance Corp., a wholly-owned subsidiary of Archrock Partners (together with Archrock Partners, the “Issuers”), is the co-issuer of the New Notes. Word(s) in meaning: chat  Examples: NFL, Abbreviation Meaning ***** ARO: Accredited Residential Originator ***** ARO: … 2021. If you’re a corporate accountant or business owner that owns or leases certain type of assets, you may have to apply complicated bookkeeping rules set forth by the Financial Accounting Standards Board (FASB) that account for the cost of returning that property to its original condition. However, you will need to evaluate GASB Statement No. A government that has legal obligations to perform future asset retirement activities related to its tangible capital assets should recognize a liability based on the guidance in this statement. However, the GASB standard has an important exemption for those governmental organizations (generally electric utilities) that have joint ownership interests in a tangible capital asset with a non-governmental entity that reports the asset’s ARO using the FASB ARO guidance. The oil and gas industry uses many jargons, acronyms and abbreviations. Determining whether your estimate will be made by an independent third party or internally is also a consideration. 83 – Certain Asset Retirement Obligations. There may be more than one meaning of ARO, so check it out all meanings of ARO one by one. Mostly coming from user contributions, it is … Projects involving City land or financial assistance are exempted if they have been introduced to City Council by Nov. 1, 2017. To start the process, CMB and ARO candidates must have at least three years’ experience and be recommended by a senior officer in their companies. Business, Social Media, Finance. The Definition of ARO is given above so check it out related information. In addition to ARO, Automatic Request for Retransmission may be short for other acronyms. FAI's Public Utility Finance and Accounting Seminars Seminars for Professionals Concerned with Electric, Gas and Water Companies Financial Accounting Institute P.O. This pilot is set to sunset on Dec. 31, 2023. APA. ****. Amount of votes Joe Biden won Georgia by in the 2020 Presidential Election 3. A government that has legal obligations to perform future asset retirement activities related to its tangible capital assets should recognize a liability based on the guidance in this statement. Although both metrics are related to your business revenue, they mean two very different things. The statement requires the measurement and recognition of a legally enforceable liability for retirement of an asset. Alternatively search Google for ARO. Rate it: ARO: Aromantic. The effective date of the statement is for reporting periods beginning after June 15, 2018. Wouldn’t it be weird if the run-off senate vote in Georgia were contested? Put abbreviations that you do not know in this section. Keep in mind that the abbreviation of ARO is widely used in industries like banking, computing, educational, finance, governmental, and health. An Asset Retirement Obligation (ARO) is a legally enforceable liability associated with the retirement of a tangible capital asset. © 1988-2021, Computing » Cyber & Security. Asset Retirement Obligation. PSP, HIPAA ARO in shipping means ''after receipt of order'' and indicates when payment is expected on an order. The statement applies to retirement obligations for tangible long-lived assets. ,random THE STATEMENT REQUIRES ENTITIES TO RECOGNIZE asset retirement … What does ARO stand for in text In sum, ARO is an acronym or abbreviation word that is defined in simple language. Top ARO abbreviation meanings updated July 2020. Obviously, this list is not anywhere near exhaustive or definitive, but this should be the most comprehensive list anywhere. Postal codes: USA: 81657, Canada: T5A 0A7, Your abbreviation search returned 45 meanings, showing only Business & Finance definitions (show all 45 definitions), Note: We have 126 other definitions for ARO in our Acronym Attic, The Acronym Finder is The statement lays out in detail the reporting requirements in the notes to the financial statements. You’re going to enjoy all the time you save by cutting down on those needless letters! Box 118 Tenafly, NJ 07670 www.financialaccounting.com Phone 201-568-0249 Glossary of Utility Finance and Accounting Terms used in our Seminars AROS is listed in the World's largest and most authoritative dictionary database of abbreviations and acronyms AROS - What does AROS stand for? 83 for disclosure requirements. Acronym Definition; ARO: Automatic Request for Retransmission: ARO: Army Research Office: ARO: ATS (Air Traffic Services) Reporting Office: ARO: After Receipt of Order: ARO: Academic Research Organization: ARO: Asset Retirement Obligation: ARO: Automobilul Romanesc: ARO: Application Resource Optimizer (software development) ARO: Association for Research in … Military, Army, Officer. If probability weighting is not feasible at a reasonable cost, a most likely amount should be used. Possible ARO meaning as an acronym, abbreviation, shorthand or slang term vary from category to category. Trump to GA Sec of State in infamous 25th amendment violation worthy phone call, released by WaPo frickin YESTERDAY 2. 143, Accounting for Asset Retirement Obligations. The factors that were used in determining the ARO should also be evaluated annually. The abbreviation ARO stands for "after receipt of order" and further helps to clarify payment terms by specifically stating when the payment timeline begins. In November 2016, the Governmental Accounting Standards Board (GASB) issued Statement No. Internet » Chat. Earlier application is encouraged by GASB. Rate it: ARO: Annualized Rate of Occurrence. In other words, the FASB standard applies to measurement in these circumstances. This estimate should include the probability weighting of all potential outcomes, when the information is available or can be obtained at a reasonable cost. ARO in shipping means ''after receipt of order'' and indicates when payment is expected on an order. This estimate for additional retirement costs is usually based on laws and regulations that require certain activities be done, such as decommissioning power plants or removing sewage treatment plants. aromantic: experiencing little or no romantic attraction to others. ATS (Air Traffic … These rules are known collectively as the asset retirement obligation. What is ARO? C; Acronym Description; Catalog Price: Price included in a catalog, price list, schedule, or other form that is regularly maintained by the manufacturer or vendor, is either published or otherwise available for inspection by customers, and states prices at which deals are currently, or were last, made to a significant number of buyers constituting the general public. List of 272 ARO definitions. Find the latest 1094904 (ARO) stock quote, history, news and other vital information to help you with your stock trading and investing. Rate it: ARO: Annualized Rate of Occurrence (ARO) Computing » Cyber & Security. List page number 3 The acronym indicates four categories of priority and importance for project requirements. 'Army Research Office' is one option -- get in to view more @ The Web's largest and most authoritative acronyms and abbreviations resource. Our 'Attic' has 126 unverified meanings for ARO. 4.5.2 Changes in an ARO Due to the Passage of Time 88 4.5.3 Changes in the Timing or Amount of Expected Cash Flows 88 4.5A Presentation 91 4.6 Disclosure 92 4.6.1 Special Considerations for Oil and Gas Producing Activities 92 To start the process, CMB and ARO candidates must have at least three years’ experience and be recommended by a senior officer in their companies. Baker Tilly US, LLP, trading as Baker Tilly, is a member of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities. The statement then requires that the current value of the ARO be adjusted for the effects of general inflation or deflation at least annually. Real-Time Trade Reporting Definition. If you received an answer, delete the abbreviation from this section, and add it to its alphabetical section (If it is not there yet). The business jargon and acronyms in this section are mostly just abbreviations for words and phrases many of us use on a regular basis. Office, China, Locations. Asset Retirement Obligation. Well, if you’re in the financial market you may refer to the NYSE:ARR stock, if you’re a tech guy you may think of Application Request Routing; but for us SaaS professionals, ARR means two things only: Annual Run Rate and Annual Recurring Revenue. For asset minority owners that use a majority owner’s ARO measurement the measurement date of that ARO should be no more than one year and one day prior to the government’s financial reporting date. Acronym Finder has 45 verified definitions for ARO In accounting, ARO stands for “asset retirement obligations,” a policy created by the Financial Accounting Standards Board, or FASB, in June 2001. An Asset Retirement Obligation (ARO) is a legally enforceable liability associated with the retirement of a tangible capital asset. This page illustrates how ARO is used in messaging and chat forums, in addition to social networking software like VK, Instagram, Whatsapp, and Snapchat. Keep in mind that the abbreviation of ARO is widely used in industries like banking, computing, educational, finance, governmental, and health. Rate it: ARO: Assistant Review Officer. Additional acronyms related to drugs and pharmaceuticals are available via the Drugs@FDA Glossary of Terms. ARO. Insurance Accounting. Customers are responsible for remitting funds in exchange for goods and services, and doing so according to a time frame that is clear to both parties. Acronym Finder, All Rights Reserved. ARO. Miscellaneous » Unclassified. Business » Accounting. THE STATEMENT REQUIRES ENTITIES TO RECOGNIZE asset retirement … 83 – Certain Asset Retirement Obligations. When used, the acronym will include a time-frame.... See full answer below. What does ARO stand for?. 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