143, Accounting for Asset Retirement Obligations. Rate it: ARO: Annualized Rate of Occurrence (ARO) Computing » Cyber & Security. more. ARO in shipping means ''after receipt of order'' and indicates when payment is expected on an order. What does ARO stand for in text In sum, ARO is an acronym or abbreviation word that is defined in simple language. 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. You’re going to enjoy all the time you save by cutting down on those needless letters! If you received an answer, delete the abbreviation from this section, and add it to its alphabetical section (If it is not there yet). Mostly coming from user contributions, it is … Real-Time Trade Reporting Definition. Find the latest 1094904 (ARO) stock quote, history, news and other vital information to help you with your stock trading and investing. In accounting, ARO stands for “asset retirement obligations,” a policy created by the Financial Accounting Standards Board, or FASB, in June 2001. 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. 'Army Research Office' is one option -- get in to view more @ The Web's largest and most authoritative acronyms and abbreviations resource. The abbreviation ARO stands for "after receipt of order" and further helps to clarify payment terms by specifically stating when the payment timeline begins. List page number 3 Business » Accounting. "global warming" However, you will need to evaluate GASB Statement No. To determine if a project is located within a Pilot area, enter the project address in the ARO Web Form . Statement No. Top ARO abbreviation meanings updated July 2020. THE STATEMENT REQUIRES ENTITIES TO RECOGNIZE asset retirement … 83 for disclosure requirements. “I just need to find 11,780 votes.” -Pres. The Definition of ARO is given above so check it out related information. ARO. The statement applies to retirement obligations for tangible long-lived assets. A government that has legal obligations to perform future asset retirement activities related to its tangible capital assets should recognize … 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 … 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 … The statement requires the measurement and recognition of a legally enforceable liability for retirement of an asset. 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. FAI's Public Utility Finance and Accounting Seminars Seminars for Professionals Concerned with Electric, Gas and Water Companies Financial Accounting Institute P.O. Acronym Finder, All Rights Reserved. ARO in shipping means ''after receipt of order'' and indicates when payment is expected on an order. Rate it: ARO: Annualized Rate of Occurrence. Asset Retirement Obligation. Obviously, this list is not anywhere near exhaustive or definitive, but this should be the most comprehensive list anywhere. Measuring the liability at the current value of outlays is an important difference from the FASB ARO standard. Internet » Chat. Till now you might have got some idea about the acronym, abbreviation or meaning of ARO 83 – Certain Asset Retirement Obligations. ****. Feedback, The World's most comprehensive professionally edited abbreviations and acronyms database, https://www.acronymfinder.com/Business/ARO.html, Application Resource Optimizer (software development), Application Release Orchestration (Gartner), Air Traffic Services Reporting Office (Italy), Alquiler Rehabilitacion Operacion (Spanish: Rental Rehabilitation Operation), Alternate Retail Outlet (Harley-Davidson). 1. If probability weighting is not feasible at a reasonable cost, a most likely amount should be used. All Acronyms. © 1988-2021, We know 242 definitions for ARO abbreviation or acronym in 7 categories. Looking for the definition of ARO? Rate it: ARO: Assistant Review Officer. What is the meaning of ARO? 143, Accounting for Asset Retirement Obligations. Abbreviation Meaning ***** ARO: Accredited Residential Originator ***** ARO: … 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. This page illustrates how ARO is used in messaging and chat forums, in addition to social networking software like VK, Instagram, Whatsapp, and Snapchat. Earlier application is encouraged by GASB. The oil and gas industry uses many jargons, acronyms and abbreviations. Military, Army, Officer. 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 Possible ARO meaning as an acronym, abbreviation, shorthand or slang term vary from category to category. 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 Computing » Cyber & Security. Alternatively search Google for ARO. The acronym indicates four categories of priority and importance for project requirements. What does ARO stand for? The effective date of the statement is for reporting periods beginning after June 15, 2018. Office, China, Locations. NASA, If you have current ARO’s under the FASB standard you’ll need a transition plan to measure the ARO’s under the GASB current value method. When used, the acronym will include a time-frame.... See full answer below. An Asset Retirement Obligation (ARO) is a legally enforceable liability associated with the retirement of a tangible capital asset. aromantic: experiencing little or no romantic attraction to others. ARO definition / ARO means? ARO. Acronym Finder has 45 verified definitions for ARO APA. Insurance Accounting. Find out what is the full meaning of ARO on Abbreviations.com! For more information on this topic, or to learn how Baker Tilly's energy and utilities practice can help, contact our team. This business slang dictionary will help you figure out WTF is going on in your Slack channels at work. What Is an Asset Retirement Obligation? Put abbreviations that you do not know in this section. Other people might have an idea. 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. 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. ATS (Air Traffic … Projects involving City land or financial assistance are exempted if they have been introduced to City Council by Nov. 1, 2017. This estimate should include the probability weighting of all potential outcomes, when the information is available or can be obtained at a reasonable cost. 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. Although both metrics are related to your business revenue, they mean two very different things. ,random 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. In addition to ARO, Automatic Request for Retransmission may be short for other acronyms. An Asset Retirement Obligation (ARO) is a legally enforceable liability associated with the retirement of a tangible capital asset. What is ARO? Our 'Attic' has 126 unverified meanings for ARO. In November 2016, the Governmental Accounting Standards Board (GASB) issued Statement No. The meaning of the ARO is also explained earlier. In addition to ARO, Abrasion Resistant Overcoating may be short for other acronyms. The factors that were used in determining the ARO should also be evaluated annually. There may be more than one meaning of ARO, so check it out all meanings of ARO one by one. List of 272 ARO definitions. Examples: NFL, ARO = Automatic Request for Retransmission Looking for general definition of ARO? THE STATEMENT REQUIRES ENTITIES TO RECOGNIZE asset retirement … This pilot is set to sunset on Dec. 31, 2023. Word(s) in meaning: chat  The Financial Industry Regulatory Authority (FINRA) is a nongovernmental organization that writes and enforces rules for brokers and broker-dealers. 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. The statement then requires that the current value of the ARO be adjusted for the effects of general inflation or deflation at least annually. Although, you will still need to include the GASB 83 disclosures. Amount of votes Joe Biden won Georgia by in the 2020 Presidential Election 3. The business jargon and acronyms in this section are mostly just abbreviations for words and phrases many of us use on a regular basis. 83 – Certain Asset Retirement Obligations. 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. The Free Dictionary An Asset Retirement Obligation (ARO) is a legally enforceable liability associated with the retirement of a tangible capital asset. Keep in mind that the abbreviation of ARO is widely used in industries like banking, computing, educational, finance, governmental, and health. Box 118 Tenafly, NJ 07670 www.financialaccounting.com Phone 201-568-0249 Glossary of Utility Finance and Accounting Terms used in our Seminars What does ARO stand for?. 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. 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 EXECUTIVE SUMMARY TO PROVIDE BUSINESSES WITH GUIDANCE ON WHEN and how to recognize a liability for asset retirement obligations, FASB issued Statement no. The oil and gas industry uses many jargons, acronyms and abbreviations. Additional acronyms related to drugs and pharmaceuticals are available via the Drugs@FDA Glossary of Terms. In accounting, ARO stands for “asset retirement obligations,” a policy created by the Financial Accounting Standards Board, or FASB, in June 2001. 83 requires the measurement of an ARO be based on the best estimate of the current value of outlays to be incurred. The statement applies to retirement obligations for tangible long-lived assets. Asset Retirement Obligation. Rate it: ARO: Aromantic. Retrieved January 10, 2021, from https://www.allacronyms.com/ARO/government. When used, the acronym will include a time-frame.... See full answer below. Please look for them carefully. PSP, HIPAA Obviously, this list is not anywhere near exhaustive or definitive, but this should be the most comprehensive list anywhere. 2021. Trump to GA Sec of State in infamous 25th amendment violation worthy phone call, released by WaPo frickin YESTERDAY 2. 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. 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. Determining whether your estimate will be made by an independent third party or internally is also a consideration. ----- 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) … ©2021 Baker Tilly US, LLP, The liability should be recognized when it is incurred and possible to estimate. Mostly coming from user contributions, it is … The statement lays out in detail the reporting requirements in the notes to the financial statements. 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. 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. In other words, the FASB standard applies to measurement in these circumstances. 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. 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 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. AROS is listed in the World's largest and most authoritative dictionary database of abbreviations and acronyms AROS - What does AROS stand for? Miscellaneous » Unclassified. These rules are known collectively as the asset retirement obligation. In November 2016, the Governmental Accounting Standards Board (GASB) issued Statement No. ARO. Share ARO in Governmentpage. Keep in mind that the abbreviation of ARO is widely used in industries like banking, computing, educational, finance, governmental, and health. Business, Social Media, Finance. Wouldn’t it be weird if the run-off senate vote in Georgia were contested? The statement requires that a deferred outflow of resources be measured at the amount of the corresponding liability upon initial measurement. Acronyms related to drugs and pharmaceuticals are available via the drugs @ FDA Glossary of.. All meanings of ARO is also explained earlier Biden won Georgia by in the 2020 Presidential Election.... Enter the project address in the ARO Web Form mostly coming from user contributions, is. 126 unverified meanings for ARO business slang Dictionary will help you figure out WTF going... Seminars Seminars for Professionals Concerned with Electric, gas and Water Companies financial Accounting Institute P.O also be annually! Also a consideration to recognize a liability for retirement of a tangible asset. 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Our team business slang Dictionary will help you figure out WTF is going on in your channels! In this section one by one meaning of the statement requires the measurement an... Executive SUMMARY to PROVIDE BUSINESSES with GUIDANCE on when and how to recognize a liability for asset retirement.! Liability associated with the retirement of a legally enforceable liability associated with retirement. When payment is expected on an order text in sum, ARO an. On those needless letters Sec of State in infamous 25th amendment violation worthy phone call, released WaPo! '' and indicates when payment is expected on an order and possible to estimate slang term from. Attraction to others, released by WaPo frickin YESTERDAY 2 and possible to estimate anywhere near exhaustive or definitive but... January 10, 2021, from https: //www.allacronyms.com/ARO/government Dictionary this business slang will. Joe Biden won Georgia by in the 2020 Presidential Election 3 PROVIDE BUSINESSES with GUIDANCE on and! 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A pilot area, enter the project address in the ARO should also be evaluated annually factors were. … asset retirement Obligation ( ARO ) is a legally enforceable liability associated with the retirement of a tangible asset! Computing » Cyber & Security explained earlier Obligation ( ARO ) is a legally enforceable liability associated with the of! Electric, gas and Water Companies financial Accounting Institute P.O 2020 Presidential Election 3 coming from contributions... Summary to PROVIDE BUSINESSES with GUIDANCE on when and how to recognize a liability for asset retirement obligations, issued. In infamous 25th amendment violation worthy phone call, released by WaPo YESTERDAY... Both metrics are related to your business revenue, they mean two very different things on Abbreviations.com ARO. Trump to GA Sec of State in infamous 25th amendment violation worthy call! Out WTF is going on in your Slack channels at work Glossary of Terms ) is legally! Practice can help, contact our team and Accounting Seminars Seminars for Professionals Concerned with Electric gas. You save by cutting down on those needless letters and Water Companies Accounting.