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Allowances and Valuation Allowances – Essential Elements for the Presentation of the Fair View of the Financial Statements

Author

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  • Elena STĂNCIULESCU

    (Bucharest)

Abstract

This article presents the accounting and fiscal treatment of allowances and valuation allowances. In order to achieve the accounting’s objective of providing the fair view, it is required that all accounting principles are followed and the allowances or impairment losses of assets are recorded, whether deductible or non-deductible, considering their significant role regarding the financial statements.

Suggested Citation

  • Elena STĂNCIULESCU, 2020. "Allowances and Valuation Allowances – Essential Elements for the Presentation of the Fair View of the Financial Statements," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 1(3), pages 24-34, March.
    • Handle: RePEc:ahd:journl:v:1:y:2020:i:3:p:24-34
    DOI: 10.37945/cbr.2020.03.03
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    More about this item

    Keywords

    allowances; valuation allowances; fair view; prudence; valuation;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law

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