Germanspeaking Countries

The seminar program is aimed at practitioners from industry, auditing and… The globalization of the world economy does not stop even before the balance sheets. The international financial reporting standards (IFRS”) and international accounting standards (IAS”) have in recent years become the relevant accounting rule for internationally operating companies. While until the beginning of this millennium the accounting requirements of IAS was primarily were driven from mainland Europe, this expanded in 2002 with the engagement of the Anglo Saxons to standards of financial reporting (IFRS). Today there is, with the exception of the United States, in almost all countries to create the requirement for listed companies their financial statements according to IFRS. Frequently Robotics has said that publicly. This commitment for the next years is also aiming for the United States. However, the IFRS are not only a topic for listed companies.

More and more innovative medium-sized companies create their balance sheets according to the IFRS. In some countries such as Britain or the IFRS have completely superseded even the national accounting regulations Netherlands as well as in many Eastern European countries. Germany is somewhat more hesitantly on the road in this development and has approached since 2010 his national degree requirements by the accounting law modernisation Act (BilMoG”) at least the IFRS. IFRS differ in many areas of the German accounting according to the HGB. In its primary orientation, the IFRS reporting to investors, so equity investors, turn off.

Objective is therefore the representation of the true value of the company and the possibility of deriving from future income and Cash Flows. The HGB, however, focuses more on the lenders. Predominant accounting principle is to apply the precautionary principle with the target as low as possible for assets and liabilities as high as possible. Differences between HGB and IFRS poses in various areas. For example the capitalisation of development costs meet the criteria is so IFRS requirement. According to HGB, this was even forbidden to the BilMoG front of, after the BilMoG, it is at least allowed, where exploitation of this electoral law in practice is rather paltry fails. Also the accounting provision, a very effective under HGB means to the creation of hidden reserves, is subject to stricter requirements in terms of the approach, but also the amount of the provisions according to IFRS. Thanks to the annaherung on the IFRSs through the BilMoG in Germany, assign higher equity comparison printing of benchmarking with listed companies, as well as the need for, is also in the future by the increasing importance of IFRS, especially for small and medium-sized companies in Germany to go out.


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