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LLC Versus NGO, Similarities and Differences Regarding the Equities

Author

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  • Elena STĂNCIULESCU

    (Bucharest)

Abstract

In order to present a true and fair view of the financial statements, it is necessary to know the accounting treatment applicable both to NGOs and LLCs. By this article we aimed to present the accounting treatment of the elements comprising an entity’s equity, regarding the share capital, the share premiums, the (current, reported) result of the year, the reported result arising from the change in the accounting policies, the one arising from the correction of the accounting errors, the profit/surplus distribution, covering the accounting loss/the deficit, the legal, statutory reserves, from reevaluation or other reserves, respectively.

Suggested Citation

  • Elena STĂNCIULESCU, 2022. "LLC Versus NGO, Similarities and Differences Regarding the Equities," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 3(4), pages 23-33, April.
    • Handle: RePEc:ahd:journl:v:3:y:2022:i:4:p:23-33
    DOI: 10.37945/cbr.2022.04.03
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    More about this item

    Keywords

    LLC; NGO; equity; result of the financial year;
    All these keywords.

    JEL classification:

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

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