A Flexible Accounting and Workflow Solution for All Asset Retirement Obligations
An Independent ARO Management Solution That Meets Accounting Standards and Offers Thorough Analytical Capabilities.
PowerPlan’s Asset Retirement Obligation (ARO) module offers robust functionality for the accounting and lifecycle of all retirement obligation types. The module includes an out-of-the-box solution to manage the entire ARO workflow, from initial recognition to closure, and automates all calculations and creation of all journal entries.
AROs can be processed on a specific site or on mass property (using mortality statistics). For large decommissioning projects (like nuclear units), the module includes an ARO pre-processor for developing and documenting alternative scenarios. The system processes and documents re-estimation, accretion and settlement. Finally, the module is architected so that it can operate as part of an integrated PowerPlan Asset Accounting solution or as a standalone ARO solution. The completeness, accuracy and flexibility of this module offer greater efficiency while lowering the risks associated with spreadsheets and manual processes.
The PowerPlan ARO module provides all processing required under the ASC 410 (FAS143 and FIN 47) accounting standards. In addition, ARO creates and tracks GAAP entries and regulatory offsets and balances. Finally, ARO is compliant with IFRS processing requirements (IAS 37). The module includes a Regulatory Accounting Entries sub-module to track the different accounting entries needed to meet the requirements of both accounting and regulatory standards.
The ARO module provides robust out-of-the-box reports for asset and liability retirement costs. These cover standard AROs, ARO Forecast, ARC Depreciation and Transitional AROs. There are also regulatory reports for the reconciliation of liability/net ARC/regulatory amounts in addition to various computational and analysis reports.
To learn how the ARO PowerPlan solution can help reduce compliance risk, improve cash flow and provide effective operational cost management, contact us at +1 770.859.0402 or at firstname.lastname@example.org.