IFRS Basics

The integration of IFRS into the HGB

• including differences between HGB and IFRS accounting.

The IASB and the EU

Principles of financial statements in accordance with IFRS (Con. Framework, IAS 1)

• Fair presentation" objective (IAS 1).
• Qualitative aspects.
• Components of IFRS financial statements.
• Basic principles and structure of IFRS.
• Structure of the balance sheet and the statement of comprehensive income.
• Accounting and valuation principles in accordance with IFRS.

Accounting according to IFRS compared to HGB

• Intangible assets (incl. research and development; IAS 38).
• Property, plant and equipment (IAS 16).
• Investment Property (IAS 40).
• Financial instruments in the categories "AC", "FVOCI", "FVPL" (IFRS 9).
• Inventories (IAS 2).
• Revenue Recognition - Revenue from Contracts with Customers (IFRS 15).
• Liabilities vs. equity (IAS 32).
• Pension provisions (IAS 19).
• Other provisions (IAS 37).
• Deferred taxes (IAS 12).
• Leases (IFRS 16).

Income statement, statement of comprehensive income

• Components of the statement of comprehensive income.
• Total and cost of sales method.
• Earnings per share (IAS 33).

Statement of changes in equity

Cash flow statement (IAS 7)

Segment reporting (IFRS 8)

Notes