Accounting and financial reporting - IFRS / HGB

Our topic portal offers answers and information on accounting issues according to IFRS and HGB. Our experts inform you about current developments in accounting and present selected specialist topics in a compact and clear manner.

The IFRSs are highly dynamic and subject to constant change. Whether fundamental questions of consolidation, lease accounting, revenue recognition, financial instruments or pension accounting: proven accounting concepts are being replaced by new regulations that raise a wealth of questions on how they should be applied.

The German Commercial Code (HGB) is still the leading accounting standard for the company financial statements of all German business entities and the consolidated financial statements of many medium-sized groups of companies. Against the background of the internationalisation of the economy, the HGB is constantly being amended.

The linking of financial and non-financial information in corporate reporting (integrated reporting) is becoming increasingly important internationally, both due to a change in the demand behaviour of the users of that information and due to regulatory measures. Business entities must adjust their previous corporate reporting accordingly.

The EU is driving the digitisation of corporate reporting with the aim of facilitating the accessibility, analysis and comparability of financial reports: Business entities whose securities are admitted to an organised market in Germany (domestic issuers within the meaning of § 2 (14) of the Securities Trading Act (WpHG)) are required to prepare their annual financial reports in a European single electronic format (ESEF) starting in 2020.

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