Considerations Regarding the Accounting Records in Case of Buying and Selling Dwellings

Author:PhD. Gheorghe IALOMIŢIANU

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Keywords:entity, current assets, financial performance, turn-over, financial statements

Abstract:
According to the tax legislation, the entities must record the current incomes differently from the odd incomes.\r\nNowadays, the main activity of some entities consist in buying and selling dwellings.\r\nIncomes obtained from selling dwellings must be registered as current incomes. The turn over must contain the incomes obtained from selling and buying dwellings.\r\nTaking in consideration the frequency and the signifiance of the obtained incomes, we have to make a distinction between the current and fixed assets (used to obtain these incomes).\r\nIf the acquired assets consist in selling dwellings, then those will be registered taking in consideration the accounts specific to current assets.\r\nThe purchased assets and those for building dwellings in order to rent them will be registered taking in consideration the accounts specific to fixed assets.\r\nObserving the standards regarding the accounting records in case of buying and selling dwellings, the entities offer the posibility of understanding their performances to the users of financial information contained by the annual financial statements.\r\n\r\n

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