Fun German Company Financial Statements

Each German corporation must file statutory financial statements with the filing authorities the Bundesanzeiger within 12 months after year-end.

German company financial statements. Financial reporting framework in Germany Adoption of IFRSs in Europe effective in 2005. Find out about the accounting rules in Germany. The merchant must preserve the annual financial statements for ten years Section 257 HGB.

You can check such as information on Wikipedia List of largest German companies but unfortunately the revenue for some companies is not 100 correct and is not always updated. SMEs can use German GAAP requirements of the German Commercial Code or in their consolidated financial statements IFRS Standards as adopted by the EU. Announcements legal notices and the annual filing requirements for German companies are advertised in this gazette.

In addition to the most recent available annual account. One more source can be a business database that contains companies p. European companies listed on the stock exchange must establish their annual consolidated accounts on the basis of IASIFRS standards.

German legal entities are required to draft and lodge their financial statements following a specific procedure which respects the rules and regulations imposed by the German GAAP Generally Accepted Accounting PrinciplesRules referring to the way in which such documents have to be prepared may vary in accordance with the legal entity under which the company is carrying its operations but. In June 2002 the European Union adopted an IAS Regulation requiring European companies listed in an EU securities market including banks and insurance companies to prepare their consolidated financial statements in accordance with IFRSs starting with. Principal business entities These are the joint stock company AG limited liability company.

The annual financial statements must be prepared in accordance with German accepted accounting principles and within a period that is consistent with orderly business conduct Section 243 HGB. It is not possible to perform a full text search of the content of published annual financial statements and publications pursuant to sections 264 para. Taxpayers are required to maintain their books in Germany although electronic bookkeeping may be transferred abroad if prior approval is obtained from the tax authorities.

What the annual financial statements must contain depends heavily on the companys respective legal form and whether its listed on the stock exchange or not. If it is a corporation they are required by law to publish their annual reports in the Bundesanzeiger engl Federal Gazette which can be searched free of. 3 and 264b of the Commercial Code HGB.