Accounting compact

Overview of the current HGB

• Impact of crisis situations on accounting.
• Amendment and simplification of disclosure requirements.
• Exemption from disclosure obligations.
• Changes in recognition and measurement rules, options.
• Individual questions on the income statement.

Current accounting issues:

Recognition rules

• Current issues relating to the capitalization of intangible assets.
• Update on the timing of profit realization and the recognition of receivables.
• Changes in the formation of provisions, current case law.
• Practice-specific problem areas for selected balance sheet items.

Valuation rules

• Individual questions on acquisition and production costs.
• Scheduled and unscheduled depreciation, component approach.
• Valuation standards for provisions; in particular consideration of future price increases and discounting.
• Differentiation between production costs and maintenance expenses.
• Currency conversions.
• Deferred taxes.
• New regulations on notes and management report.

Effects on the balance sheet

• Accounting policy options and limits.
• Balance sheet analytical understanding and possible normalization.

Commercial balance sheet and tax balance sheet

• Differences between the commercial balance sheet and the tax balance sheet - focus: deferred taxes.
• Accounting-specific process organization.

Further trends in accounting and outlook