LLC Versus NGO, Similarities and Differences Regarding the Accounting and Tax Treatment Applicable to the Trade and Financial Discounts

LLC Versus NGO, Similarities and Differences Regarding the Accounting and Tax Treatment Applicable to the Trade and Financial Discounts

Number 3, March 2022  »  Financial accounting and reporting

Elena Stănciulescu, PhD
Bucharest

Abstract: The article hereby presents a delimitation of the granted/received commercial and financial discounts, for their proper fitting in and avoiding the confusions often identified in practice, with negative impact on the result of the year. Likewise, for rendering an accurate image of the financial statements, it is necessary to know the similarities and differences regarding the accounting treatment applicable to NGOs and LLCs, as well as their tax treatment.
Classification JEL: M41, K34, L31 | Pages: 10-16

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