Communication Case: Simba Clark, the director of Shareholder Services of a large multinational corporation head- quartered in the U.S., has asked you for help. Simba will address the shareholders meeting tomorrow. One of the questions sent to her from a large shareholder concerns the issue of accounting for closure and removal costs.?As the controller of this firm, you are in the best position to help Simba. Her email to you included the following. I am aware that there is accounting guidance on recording asset retirement obligations related to the closure and removal costs. I understand that a major shareholder has questions to fully understand the financials as they relate to asset retirement obligations.? Although I have some knowledge of accounting, I am only vaguely familiar with this accounting guidance. Can you help me out with guidance in addressing our shareholders?

Required Draft a one-page email to Simba explaining the financial statement impact from accounting for closure and removal costs.