IFRS vs. German GAAP Series: Revenue

IFRS 15 prescribes the accounting for revenue from sales of goods and rendering of services to a customer. The standard applies only to revenue that arises from a contract with a customer and is effective for annual reporting periods beginning on or after 1 January...

IFRS vs. German GAAP Series: Provisions

IAS 37 set out the accounting requirements for provisions under IFRS. Under German GAAP, the core legal source for provisions accounting is the HGB. IAS 37 German GAAP Definition & Recognition A provision is a liability of uncertain timing or amount. HGB does not...
IFRS vs. German GAAP Series: Leases

IFRS vs. German GAAP Series: Leases

IFRS 16 deals with leases and is effective for annual periods beginning on or after 1 January 2019. Accounting for leases is not explicitly regulated under the HGB (“Handelsgesetzbuch”). Instead, tax regulations and interpretative guidance issued by the IDW are...

IFRS vs. German GAAP Series: Goodwill

IFRS 3, IAS 36, and IAS 38 set out the accounting requirements for goodwill under IFRS. Under German GAAP, the core legal source for goodwill accounting is the HGB. IFRS German GAAP Goodwill Definition IFRS 3 defines goodwill as an asset representing the future...

IFRS vs. German GAAP Series: Intangible Assets

IAS 38, which deals with Intangible assets, was revised in March 2004 and applies to intangible assets acquired in business combinations occurring on or after 31 March 2004, or otherwise to other intangible assets for annual periods beginning on or after 31 March...