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

Author

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  • Elena STĂNCIULESCU

    (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.

Suggested Citation

  • Elena STĂNCIULESCU, 2021. "LLC vs. NGO, Similarities and Differences in the Accounting Treatment of Intangible and Tangible Assets," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 2(6), pages 8-17, June.
    • Handle: RePEc:ahd:journl:v:2:y:2021:i:6:p:8-17
    DOI: 10.37945/cbr.2021.06.02
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    More about this item

    Keywords

    LLC; NGO; intangible/tangible assets; accounting treatment;
    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

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