This case allows you to examine the accounting and tax implications of environmental remediation costs in a scenario modeled after real-world investigations by the Environmental Protection Agency (EPA). The case specifically examines the costs that arise at each stage of an EPA investigation into hazardous materials and how to treat them from an accounting and tax perspective. By building on the timeline of facts from real investigations, you can understand the integrated implications to businesses of environmental remediation and the relevancy of each fact in answering each element of the case. The case consists of two individual parts requiring you to work in groups and research accounting and tax standards related to a similar set of facts. You will need to analyze relevant facts against these authorities to reach conclusions on the financial accounting and tax treatment for environmental remediation obligations and prepare memorandums documenting your research process and resulting conclusions.