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On the pathway to sustainability reporting – Part III: An example of its application in the SME sector

In Part I of this series of articles, we discussed the evolution of non-financial reporting towards sustainability reporting (CSR Directive) in the […]

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Information shown on an invoice – The issue of the usual commercial designation

The German VAT Act stipulates that business owners have to ensure that their invoices show the quantity and type (usual commercial designation) of the […]

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On the pathway to sustainability reporting – Part II: Opportunities and challenges for small and medium-sized companies

In the first of our series of three articles on sustainability reporting, we provided information on the legal foundations and the future changes at […]

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Accounting implications of the war in Ukraine

The war in Ukraine and the massive sanctions against Russia will have a severe impact on the global economy. The question that arises here is if and […]

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On the pathway to sustainability reporting – Part I: Current regulatory initiatives at the EU level will be implemented shortly

The EU Commission’s current proposal for a Directive has fleshed out sustainability reporting by 2023 with standards and extended the scope of […]

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Financial instruments – IBOR reform with accounting consequences under German GAAP and IFRS

LIBOR and EONIA were abolished in the course of the reform of benchmark interest rates (IBOR reform). This has implications not just for the […]

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Signing annual financial statements using a qualified electronic signature

The development towards a digitalised work environment has accelerated rapidly since the beginning of the coronavirus pandemic. This will also affect […]

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Write-ups in the case of foreign currency liabilities

Generally, foreign currency liabilities have to be measured at their value at the time when they were created (acquisition rate). Recently, the […]

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The obligation to remunerate preparatory and concluding activities in an employment relationship

So-called preparatory and concluding activities - such as, for example, time spent changing clothes, moving around the workplace, cleaning up as well […]

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Unconstitutionality of excessive interest on tax arrears/refunds – consequences from the tax administration

In July 2021, the Federal Constitutional Court (Bundesverfassungsgericht, BVerfG) classified the statutory interest on tax arrears and tax refunds of […]

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Accruals have to be recognised in the balance sheet even in the case of small amounts

The Federal Fiscal Court (Bundesfinanzhof, BFH) recently issued a ruling where it decided that, for allocations under the accrual method, businesses […]

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Out-of-court restructuring facilitated by the Business Stabilisation and Restructuring Act

The Act on the Stabilisation and Restructuring Framework for Enterprises (Gesetz über den Stabilisierungs- und Restrukturierungsrahmen für […]

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Changes relating to assessing the grounds for opening insolvency proceedings according to the IDW draft standard 11 (IDW ES 11)

On 8.1.2021, the Institute of Public Auditors in Germany (Institut der Wirtschaftsprüfer, IDW) published a revised version of its draft for standard […]

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Dashboards as cockpits for gaining a quick over- view of the interrelationships within a business

It is not just the corona crisis but also technological developments that are adding to the desire of investors, banks and shareholders or family […]

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Carve-outs – Active portfolio management through the demerger of a business division

In Part I of our series we considered the economic rationale for carve-outs and the current developments in the M&A market. There now follows, first […]

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On the depreciation/amortisation of digital assets in the financial accounts

In a previous article we reported on the option to instantly write off digital assets in the tax accounts in accordance with a Federal Ministry of […]

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Carve-outs – Active portfolio management through the demerger of a business division

Carve-out transactions play an increasingly important role in the context of successful structuring of M&A activities, for example, as a preparatory […]

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