What information do the different types of accounting collect?

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In this sense, and as in any other entity, we differentiate between financial accounting , which reflects the true image of the company's accounts; and analytical accounting . In the latter, the objectives change and with it we try to study the costs of the activities and their imputation, without this influencing the presentation and accounting of the economic results of the association (and therefore the taxes) but rather the internal study of the way in which the operation is carried out.



Accounting for partnerships in relation to taxes.
When calculating corporate tax, it is important to distinguish between exempt and non-exempt income . Associations only have to pay taxes on their non-exempt income, that is, on the income dominican republic phone data rom their economic activities. That is why it is so important to separate income according to its origin in the accounting for associations. The way in which associations must pay taxes is regulated by Law 49/2002 on the tax regime for non-profit entities and tax incentives for patronage.



Annual accounts in accounting for associations.
Annual accounts are documents that contain the financial information for a financial year. Their presentation is not essential unless it concerns public utility entities or is specified in the bylaws. In short, it would involve the presentation of the income statement, balance sheet and notes (if it is not necessary, the statement of net worth and the statement of cash flows would not be prepared).