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Value Adjustments Established at the Balance Sheet Date, Accounting and Fiscal Treatments Applicable to Taxpayers

Author

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  • Elena STĂNCIULESCU

    (Bucharest)

Abstract

In this article, we aim to present accounting and fiscal aspects regarding valuation allowances for tangible fixed assets and intangible assets, for inventories and receivables. All accounting principles must be followed in order to present a true and fair image of the financial statements. Valuation allowances play an important part in outlining the impairment losses incurred by assets, regardless if they are deductible or not.

Suggested Citation

  • Elena STĂNCIULESCU, 2021. "Value Adjustments Established at the Balance Sheet Date, Accounting and Fiscal Treatments Applicable to Taxpayers," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 2(5), pages 15-24, May.
    • Handle: RePEc:ahd:journl:v:2:y:2021:i:5:p:15-24
    DOI: 10.37945/cbr.2021.05.02
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    More about this item

    Keywords

    valuation allowance; tangible fixed asset/intangible asset; carrying amount; book value; inventories; net realizable value; receivables;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation
    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law

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