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Legal, Accounting and Tax Issues Regarding the Simultaneous Dissolution and Liquidation of Limited Liability Companies in Financial Difficulty

Author

Listed:
  • Mihaela ENACHI

    ("Vasile Alecsandri" University of Bacău)

  • Cristina-Ionela BREAHNĂ-PRAVĂȚ

    ("Vasile Alecsandri" University of Bacău)

Abstract

This article presents one of the events that may occur in the life of limited liability companies in financial difficulty, namely, the simultaneous dissolution and liquidation. For this purpose, it refers to the legal, accounting and fiscal regulations applicable in the field and provides an example on the reflection in accounting of the operations specific to the liquidation in the conditions in which the resulting financial resources don’t allow the payment of debts. The goal of this material is to support the professional accountants in their effort of providing services that help companies to fulfil their obligations in cases of simultaneous dissolution and liquidation, by presenting theoretical and practical aspects concerning the activities taking place in this context.

Suggested Citation

  • Mihaela ENACHI & Cristina-Ionela BREAHNĂ-PRAVĂȚ, 2023. "Legal, Accounting and Tax Issues Regarding the Simultaneous Dissolution and Liquidation of Limited Liability Companies in Financial Difficulty," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 4(3), pages 13-24, March.
    • Handle: RePEc:ahd:journl:v:4:y:2023:i:3:p:13-24
    DOI: 10.37945/cbr.2023.03.02
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    More about this item

    Keywords

    financial difficulty; simultaneous dissolution and liquidation; accounting work for the closure of the financial year; liquidation report; financial statements drawn up on the occasion of liquidation; financial statements of liquidation;
    All these keywords.

    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm

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