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

Elena Stănciulescu
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Elena Stănciulescu: Bucharest

CECCAR Business Review, 2021, vol. 2, issue 7, 3-13

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.

Keywords: inventory; asset with a long production cycle; donation; value depreciation; commercial discount; dismantling (search for similar items in EconPapers)
JEL-codes: L31 L33 M41 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ahd:journl:v:2:y:2021:i:7:p:3-13

DOI: 10.37945/cbr.2021.07.01

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