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

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