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How high inflation impacts financial reporting according to HGB and IFRS

In 2022, inflation accelerated markedly around the world. In view of the large number of significant consequences for businesses and consumers, the […]

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Application of International Standards on Auditing (ISA) in Germany

The auditing standards of the Institute of Public Auditors in Germany (Institut der Wirtschaftsprüfer, IDW) (IDW AuS) that are currently applicable […]

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Provisions for bonus points – New recognition requirement for many businesses

A great number of businesses – even smaller ones, such as, pharmacies or bakeries – use bonus point systems or loyalty card schemes to strengthen […]

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Revenue recognition in the case of long-term contracts

Large projects normally extend over longer time periods. From a financial accounting perspective, the question that arises is: in which financial year […]

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The size effect in business valuation – The causes and risks of higher-than-average returns from small companies

In the context of business valuation, it is always noticeable that, when compared with large companies, small companies generate higher-than-average […]

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Fines for employers for infringing documentary evidence requirements

As part of the implementation of EU Directive 2019/1152 on working conditions, the Act on Notification of Conditions Governing an Employment […]

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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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