Financial-Accounting Reporting of Non-Commercial Organizations in the Republic of Moldova: Problems and Solutions

Abstract

This article examines the main problems that arise in the day-to-day operations of non-commercial organizations (hereinafter referred to as NCO) in the Republic of Moldova concerning preparation and presentation of financial statements and other accounting reports. According to the Accounting and Financial Reporting Law [1], financial statements are mandatory for all NCOs regardless of the legal form, size or particularities of the activity. The composition and method of calculating the indicators of the financial statements are regulated by the provisions of the Methodical Guidelines regarding the particularities of accounting in non-commercial organizations/representatives of non-resident entities (hereinafter – Methodical Guidelines) [2], the National Accounting Standards (hereinafter referred to as NAS) [3] and The General chart of accounts [4]. УДК 657.375.6: 334.724 (478).