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LLC vs. NGO, Similarities and Differences in the Accounting Treatment of Inventories

Author

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  • Elena STĂNCIULESCU

    (Bucharest)

Abstract

In this article we aim to present the main resemblances and differences between accounting the carried out by LLCs and the double entry accounting of NGO regarding inventories. Thus, we will highlight matters regarding the features related to donations received/made, value depreciations and commercial discounts, the recording of goods resulting from dismantling, as well as the accounting treatment of assets with a long production cycle, so that there is no confusion regarding the application of the appropriate accounting treatment.

Suggested Citation

  • Elena STĂNCIULESCU, 2021. "LLC vs. NGO, Similarities and Differences in the Accounting Treatment of Inventories," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 2(7), pages 3-13, July.
    • Handle: RePEc:ahd:journl:v:2:y:2021:i:7:p:3-13
    DOI: 10.37945/cbr.2021.07.01
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    More about this item

    Keywords

    inventory; asset with a long production cycle; donation; value depreciation; commercial discount; dismantling;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • L31 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Nonprofit Institutions; NGOs; Social Entrepreneurship
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out

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