Consolidated financial statements in IAS/IFRS and German GAAP - Major differences explained

Major differences explained

Business & Finance, Management & Leadership, Management
Cover of the book Consolidated financial statements in IAS/IFRS and German GAAP - Major differences explained by Khanh Pham-Gia, GRIN Verlag
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Khanh Pham-Gia ISBN: 9783640383337
Publisher: GRIN Verlag Publication: July 24, 2009
Imprint: GRIN Verlag Language: English
Author: Khanh Pham-Gia
ISBN: 9783640383337
Publisher: GRIN Verlag
Publication: July 24, 2009
Imprint: GRIN Verlag
Language: English

Research Paper (undergraduate) from the year 2008 in the subject Business economics - Business Management, Corporate Governance, grade: 1,3, University of applied sciences, Munich, language: English, abstract: Due to a regulation of the European Union (EU) concerning financial accounting issued on June 6th, 2002, all listed companies in EU are obligated to provide their Consolidated Financial Statements (CFS) in accordance with financial accounting principles of International Accounting Standards (IAS) or International Financial Reporting Standards (IFRS) from January 1st, 2005. This regulation enables a necessary harmonization of accounting principles within the EU and supports a clear comparability of CFS worldwide. The object of this study is to analyze major differences of CFS in German GAAP and IAS/IFRS. Thereby, variations of both accounting standards are compared and a major difference is explained thoroughly with a concrete example. The major differences of CFS in IAS/IFRS and German GAAP result from different aims of both accounting standards. The German GAAP is strongly based on prudence principle for protection of creditors and authoritative principle (tax accounting based on commercial accounting). In comparison, the IAS/IFRS deliver potential investors realistic and decision useful information about assets, finance, and profit situations of a company (true and fair view / fair presentation principle). These basic principles could be reflected in several key points of the both accounting standards whose differences are clarified in this study. Furthermore, an essential key point of CFS namely the basis of consolidation (contains enterprises included in the consolidation and capital consolidation methods) is illuminated with a concrete example. Hereby, the relation between the control influence of the parent enterprise on its 'sub-entities' and the correspondent capital consolidation methods are studied.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Research Paper (undergraduate) from the year 2008 in the subject Business economics - Business Management, Corporate Governance, grade: 1,3, University of applied sciences, Munich, language: English, abstract: Due to a regulation of the European Union (EU) concerning financial accounting issued on June 6th, 2002, all listed companies in EU are obligated to provide their Consolidated Financial Statements (CFS) in accordance with financial accounting principles of International Accounting Standards (IAS) or International Financial Reporting Standards (IFRS) from January 1st, 2005. This regulation enables a necessary harmonization of accounting principles within the EU and supports a clear comparability of CFS worldwide. The object of this study is to analyze major differences of CFS in German GAAP and IAS/IFRS. Thereby, variations of both accounting standards are compared and a major difference is explained thoroughly with a concrete example. The major differences of CFS in IAS/IFRS and German GAAP result from different aims of both accounting standards. The German GAAP is strongly based on prudence principle for protection of creditors and authoritative principle (tax accounting based on commercial accounting). In comparison, the IAS/IFRS deliver potential investors realistic and decision useful information about assets, finance, and profit situations of a company (true and fair view / fair presentation principle). These basic principles could be reflected in several key points of the both accounting standards whose differences are clarified in this study. Furthermore, an essential key point of CFS namely the basis of consolidation (contains enterprises included in the consolidation and capital consolidation methods) is illuminated with a concrete example. Hereby, the relation between the control influence of the parent enterprise on its 'sub-entities' and the correspondent capital consolidation methods are studied.

More books from GRIN Verlag

Cover of the book Die Gewerkschaftsbewegung der Solidarnosc. Auswirkungen auf eine Zeitepoche und Vorbild für die osteuropäische Öffnung by Khanh Pham-Gia
Cover of the book Die Förderung europäischer Integration durch die Kulturpolitik der Bundesrepublik Deutschland by Khanh Pham-Gia
Cover of the book Politische Kommunikation im parlamentarischen System Bundesrepublik Deutschland by Khanh Pham-Gia
Cover of the book Immaterielle und materielle Anreizsysteme zur Bindung von Mitarbeitern by Khanh Pham-Gia
Cover of the book Rechenschwäche früh erkennen - Diagnostik und Förderung vor Schuleintritt by Khanh Pham-Gia
Cover of the book Besonderheiten der Übersetzung jüdischer Realia am Beispiel Simon Dubnows 'Kniga ?izni' by Khanh Pham-Gia
Cover of the book Die Millenniumsentwicklungsziele und ihr Bezug zu Wasser by Khanh Pham-Gia
Cover of the book Das Verhältnis der Quinctilii Varii zu Caesar Augustus by Khanh Pham-Gia
Cover of the book Au Pair als informelle Unterstützungsstruktur für Familien by Khanh Pham-Gia
Cover of the book Zehn Jahre Arte Die Etablierung des europäischen Kulturkanals in der deutschen Fernsehlandschaft by Khanh Pham-Gia
Cover of the book Evo Morales - Die Konstitution einer neuen lateinamerikanischen Heldenfigur by Khanh Pham-Gia
Cover of the book Zellbiologie und Physiologie von Bakterien by Khanh Pham-Gia
Cover of the book Michael E. Bratmans Theorie kollektiver Intentionalität im Kontext anti-reduktionistischer Kritik by Khanh Pham-Gia
Cover of the book Die Mezzogiorno-Politik Italiens und dessen europäische Förderung by Khanh Pham-Gia
Cover of the book Die Exegeten des Korans by Khanh Pham-Gia
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy