ACCOUNTING AND TAXATION OF TRADE AND FINANCIAL DISCOUNTS

Mihaela Iuliana Dumitru, Marcela Bengescu

Abstract


In this paper we sought of synthesizing the accounting and fiscal aspects related to trade and financial discounts. Trade discounts are accounted for when they are granted. Thus we can distinguish: trade discounts granted in the delivery invoice, and trade discounts invoiced subsequently. Trade discounts granted in the delivery invoice or subsequently, but treated together with the delivery of the products, adjust the incomes from the sale (in the seller’s accounting records), and the purchase cost (in the buyer’s accounting records. In the case of trade discounts granted subsequently, they are recorded in the trade discount accounts, both in the seller’s and in the buyer’s accounting records, if the goods are no longer in stock. Financial discounts constitute the object of records in the financial income and expenditure accounts.

Keywords


trade discounts; financial discounts; delivery invoice; tax; VAT

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References


BENGESCU M., 2013, Fiscalitate si contabilitate (Taxation and accounting), Sitech Publishing House, Craiova

PANĂ I., (coordinator), 2011, Cunoştinţe economice fundamentale şi de specialitate pentru examenul de licenţă la specializarea C.I.G. (Fundamental economic knowledge and specialized license exam in Accounting and Management Information Systems), Sitech Publishing House, Craiova

Ghid practic de aplicare a reglementărilor contabile privind situaţiile financiare anuale individuale şi consolidate aprobate prin O.M.F.P. 1.802/2014 (Practical guide to accounting regulations on individual and consolidated annual financial statements approved by Order no. 1802/2014 of the Minister of Public Finance) , C.E.C.C.A.R. Publishing House, Bucureşti

Tax and accounting laws in force at 31/03/2016


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Copyright (c) 2016 Mihaela Iuliana Dumitru, Marcela Bengescu

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LUCRĂRI ȘTIINȚIFICE MANAGEMENT AGRICOL

ISSN print 1453-1410
ISSN online 2069-2307
(former ISSN 1453-1410, E-ISSN 2069-2307)

PUBLISHER: AGROPRINT Timisoara, Romania
PAPER ACCESS: Full text articles available for free
FREQUENCY: Annual
PUBLICATION LANGUAGE: English

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