LLC vs. NGO, Similarities and Differences in the Accounting Treatment of Intangible and Tangible Assets

LLC vs. NGO, Similarities and Differences in the Accounting Treatment of Intangible and Tangible Assets

Number 6, June 2021  »  Financial accounting and reporting

Elena Stănciulescu, PhD
Bucharest

Abstract: The aim of this article is to present the main similarities and differences between the method of accounting for an LLC and the double-entry accounting method used for NGOs in the case of intangible and tangible assets. Thus, we will highlight aspects related to existing particularities in the case of start-up costs, disposal of tangible and intangible assets, value depreciations, amortizations and trade discounts, so that there will be no room for confusion with regard to the correct application of an accounting treatment.
Classification JEL: M41, L31 | Pages: 8-17

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