Products and Services
Today's stringent accounting regulations stipulate that all probable and reasonably estimable environmental liabilities must be accurately reflected on balance sheets. ERCI's software products and consulting services address both a company's need to quantify its total environmental liabilities and its desire to improve strategic decision-making with regard to these liabilities. Our experience has shown that systemic biases and poor capital budgeting processes often lead to inaccuracies in estimating the true cost of environmental liabilities. Environmental reserve forecasting is made especially difficult due to the innate complexity of remediation projects including factors such as long duration, variety of remediation alternatives, and the possibility of scope change. ERCI provides software and services to clients that need an effective system for accounting of their environmental remediation liabilities. We help to develop project strategies, to optimize cost recovery, and to improve corporate governance.
Our software, training and consulting services are focused on compliance with generally-accepted accounting principles, especially:
- ASC 410-20 Asset Retirement Obligations
- ASC 410-30 Environmental Obligations (formerly environmental remediation liabilities)
- GASB 49 Pollution Remediation Obligations
- IAS 37: Provisions, contingent liabilities and contingent assets