Home  Journals  International Accounting  15(147) - 2010 November

Special provisions: accointing method and reporting

Available online: 8 November 2010

Subject Heading: Account problems

JEL Classification: 

Renaissance of nuclear power involves changing the existing financing systems of nuclear power facilities throughout their life cycles including decommissioning and environmentally safe disposal of nuclear waste. Thus, for facilities with the life cycle of 40-60 years it is necessary to create a system of financial funds or special provisions. There is a lack of practical experience both domestic and international related to reflecting these issues in the accounting and financial reports. However, these reserves are of significant importance in the structure of liabilities of the balance sheet, and their recognition and a fair value might affect on assessment of financial status in general. In this paper, the authors reviewed the practice of accounting for the special provisions relating to operation of nuclear power plants and facilities possessing a high radiological hazard. The authors propose an integrated approach to accounting and reporting the special provisions, providing the reasonable degree of confidence to disclose information about reserves in the financial statements.

Keywords: reserves, nuclear and radiation safety, accounting, reporting

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ISSN 2311-9381 (Online)
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