Accounting treatments specific to counterpart commercial transactions

Lucia Popa Paliu

Annals - Economy Series, 2010, vol. 4.II, 207-216

Abstract: Given the lack of availability of funds in foreign currency, felt in many countries, especially in the developing and developed countries and the economic or financial crisis in the global foreign exchange, counterpart commercial transactions were imposed as a “disarming” condition of the international trade. In the counterpart a purchase transaction is combined with a sale transaction, an import with an export in order to ensure balanced trade between the partners, trade that involves eliminating or reducing the currency as a payment source and its replacement with trade of goods and services. Thus, in the context of an acute need to export of greatly industrialized countries, where the overproduction phenomenon tends to have a chronic character, the counterpart has become a highly complex and sustainable phenomenon, which has seen a steady increase in the volume of amounts, with a geographical area and large variety of forms and mechanisms of implementation. Based on the characteristics and structure of counterpart transactions, we shall describe in this paper the accounting models specific to international trade, as part of the combined foreign trade transactions without neglecting the tax treatments that influence the entry in the accounts.

Keywords: counterpart; transactions; compensations; accounting treatments; tax treatments (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (1)

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