New England Conservatory Completes FIN 47 with Wheatstone's Assistance

Wheatstone recently completed activities to assist New England Conservatory (NEC) with estimating future environmental liabilities as required by the Financial Accounting Standards Board's new interpretation, known as "FIN 47." FIN 47 clarifies when and how companies must estimate and recognize costs that they will incur in the future when they retire fixed assets.

 

Since 2005, public companies have been required to implement FIN 47and thus more completely track their environmental liabilities. Wheatstone's knowledge of NEC’s properties and vast experience with typical environmental costs provided the basis of our work.