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

Author

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  • Elena STĂNCIULESCU

    (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.

Suggested Citation

  • Elena STĂNCIULESCU, 2022. "LLC Versus NGO, Similarities and Differences Regarding the Accounting and Tax Treatment Applicable to the Trade and Financial Discounts," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 3(3), pages 10-16, March.
    • Handle: RePEc:ahd:journl:v:3:y:2022:i:3:p:10-16
    DOI: 10.37945/cbr.2022.03.02
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    More about this item

    Keywords

    LLC; NGO; trade discount; financial discount;
    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
    • L31 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Nonprofit Institutions; NGOs; Social Entrepreneurship

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