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by Robert Nothhelfer
Financial Accounting
Cover
Title Page
Copyright
Preface
Contents
Abbreviations
List of tables
List of figures
How to use this book
Part I: Financial statements according to German GAAP
1 Introduction to accounting
1.1 Purpose of accounting
1.1.1 The fundamental question and the fundamental equation
1.1.2 Financial and managerial accounting
1.1.3 Content of accounting/basic terms
1.2 Elements of financial statements
1.2.1 Balance sheet
1.2.2 Income statement and changes-in-equity statement
1.2.3 Cash flow statement
1.2.4 Notes and management report
1.3 Accounting procedures
1.3.1 Accounts, debiting, crediting
1.3.2 Journalizing and posting
1.3.3 Opening and closing of accounts
1.3.4 Specific topics of double-entry accounting
1.3.4.1 Taxes
1.3.4.2 Received price reductions
1.3.4.3 Granted price reductions
2 Introduction to German accounting
2.1 Legal framework
2.1.1 Legal regulations
2.1.2 Applicability and simplifications
2.1.2.1 Applicability of Commercial Code depending on legal form
2.1.2.2 Applicability of Commercial Code depending on size class
2.1.3 Consequences of legal form and size classes
2.1.4 Consolidated financial statements
2.2 Reporting conception
2.3 Generally Accepted Accounting Principles
2.3.1 Overview
2.3.2 Principles of documentation
2.3.3 Principles of accounting
2.3.3.1 General principles
2.3.3.2 Recognition principles
2.3.3.3 Measurement principles
2.4 Balance sheet: general recognition rules
2.4.1 Recognition of assets
2.4.2 Initial measurement of assets
2.4.2.1 Acquisition costs
2.4.2.2 Production costs
2.4.3 Recognition of liabilities
2.4.4 Measurement of liabilities
2.5 Stock taking/inventory
2.6 Definition of income and expense
3 Financial statements according to Commercial Code
3.1 Balance sheet
3.1.1 Structure
3.1.2 Recognition prohibitions
3.1.3 Non-current assets
3.1.3.1 Classification non-current–current
3.1.3.2 Subsequent measurement
3.1.3.3 Presentation
3.1.3.4 Intangible assets
3.1.3.5 Tangible assets
3.1.3.6 Financial assets
3.1.4 Excursus: accounting for financial instruments according to IFRS
3.1.5 Current assets
3.1.5.1 Inventories
3.1.5.2 Accounts receivable
3.1.5.3 Securities and cash/cash equivalents
3.1.6 Equity
3.1.6.1 Subscribed capital and capital reserves
3.1.6.2 Revenue reserves and retained earnings
3.1.7 Provisions
3.1.7.1 Accounting for provisions
3.1.7.2 Specifics for pension provisions
3.1.8 Debt/payables
3.1.9 Contingent liabilities
3.1.10 Specific topics
3.1.10.1 Deferrals and accruals
3.1.10.2 Deferred taxes
3.1.10.3 Hedge accounting
3.1.10.4 Accounting for leases
3.2 Income statement
3.3 Notes
3.3.1 Overview
3.3.2 General information (§ 284)
3.3.3 Additional information about balance sheet and income statement
3.3.4 Additional information not related to balance sheet or income statement
3.4 Cash flow statement
3.4.1 Purpose and methods
3.4.2 Structure of cash flow statement
3.5 Management report
3.5.1 Purpose and principles
3.5.2 Structure and content
3.5.3 Upcoming extended CSR reporting
4 Consolidated financial statements
4.1 Purpose
4.2 Legal requirements
4.2.1 Mandatory preparation
4.2.2 Applicable rules
4.3 Elements and content
4.4 General principles
4.5 Consolidation scope
4.6 Consolidation procedures
4.6.1 Full consolidation
4.6.1.1 Comparability of data
4.6.1.2 Currency conversion
4.6.1.3 Capital consolidation
4.6.1.4 Liability consolidation
4.6.1.5 Consolidation of intercompany profits
4.6.1.6 Income consolidation
4.6.1.7 Deferred taxes on consolidation procedures
4.6.2 Proportional consolidation
4.6.3 Associated companies/at-equity consolidation
4.7 Consolidated notes
Part II: Exercises
5 Exercises on individual topics with solutions
5.1 Bookkeeping and basic terms
5.2 Exercises on fundamental concepts and GAAP
5.3 Exercises on non-current assets
5.4 Exercises on current assets
5.5 Exercises on equity
5.6 Exercises on provisions
5.7 Exercises on debt
5.8 Exercises on deferred items and deferred taxes
5.9 Exercises on income statement and cash flow statement
6 Case studies
7 Solutions for case studies
Additional information
8 Glossary
9 Vocabulary
Literature
Index
About the author
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Prev
Previous Chapter
Abbreviations
Next
Next Chapter
List of figures
List of tables
Tab. 1.1
Users of financial statements and their interests
Tab. 1.2
Accounting rules
Tab. 1.3
Example of a journal
Tab. 1.4
General ledger accounts (1)
Tab. 1.5
General ledger accounts (2)
Tab. 1.6
General ledger accounts (3)
Tab. 1.7
General ledger accounts (4)
Tab. 1.8
General ledger accounts (5)
Tab. 1.9
Closing accounts
Tab. 2.1
Classification of common legal forms
Tab. 2.2
Accounting rules for partnerships and corporations
Tab. 2.3
Size classes in Commercial Code
Tab. 2.4
Size classes, Disclosure Act
Tab. 2.5
Accounting rules for partnerships and corporations including size classes
Tab. 2.6
Principles of documentation
Tab. 2.7
General principles of accounting
Tab. 2.8
Recognition principles
Tab. 2.9
Other measurement principles
Tab. 2.10
Examples for differences between legal and economic ownership
Tab. 2.11
Components of acquisition costs
Tab. 2.12
Components of production costs
Tab. 2.13
Methods of stock taking
Tab. 2.14
Definition of income and expense
Tab. 3.1
Basic structure of a balance sheet (§ 247)
Tab. 3.2
Debit side according to § 266 sect. 2
Tab. 3.3
Credit side according to § 266 sect. 3
Tab. 3.4
Examples of the classification non-current–current
Tab. 3.5
Development of non-current assets
Tab. 3.6
Acquired goodwill
Tab. 3.7
Low-value goods
Tab. 3.8
Financial assets and liabilities according to IAS 32
Tab. 3.9
Minimum capital requirements
Tab. 3.10
Example of partial payment (1)
Tab. 3.11
Example of partial payment (2)
Tab. 3.12
Presentation of equity given no decision about the use of profit
Tab. 3.13
Presentation of equity given total use of profit
Tab. 3.14
Presentation of equity given partial use of profit
Tab. 3.15
Example of deferred taxes (1)
Tab. 3.16
Example of deferred taxes (2)
Tab. 3.17
Example of deferred taxes (3)
Tab. 3.18
Example of deferred taxes (4)
Tab. 3.19
Examples of deferred tax assets and liabilities
Tab. 3.20
Relevant terms in accounting for leases
Tab. 3.21
Formats for income statement
Tab. 3.22
General information in notes
Tab. 3.23
Additional information about balance sheet and income statement
Tab. 3.24
Additional information on balance sheet
Tab. 3.25
Additional information about income statement
Tab. 3.26
Additional information not included in balance sheet or income statement
Tab. 3.27
Additional information about affiliated companies and participations
Tab. 3.28
Additional information on corporate governance
Tab. 3.29
Detailed structure of cash flow statement using indirect method (DRS 21)
Tab. 3.30
Structure of cash flow from operating activities using direct method (DRS 21)
Tab. 3.31
Principles of management reports according to DRS 20
Tab. 3.32
Recommended structure of management report according to DRS 20
Tab. 4.1
Size classes for consolidated financial statements
Tab. 4.2
Principles of consolidated financial statements
Tab. 4.3
General information in consolidated notes
Tab. 4.4
General information in consolidated notes
Tab. 4.5
Additional information about consolidated balance sheet
Tab. 4.6
Additional information about consolidated income statement
Tab. 4.7
Additional information not included in balance sheet or income statement
Tab. 4.8
Additional information on corporate governance
Tab. 5.1
Solution to exercise 1
Tab. 5.2
Solution to exercise 3 – balance sheet
Tab. 5.3
Solution to exercise 4 – trade receivables
Tab. 5.4
Solution to exercise 4 – closed account
Tab. 5.5
Solution to exercise 5 – liability account
Tab. 5.6
Solution to exercise 5 – closed account
Tab. 5.7
Solution to exercise 6 – opening balance
Tab. 5.8
Solution to exercise 6 – opening of accounts (1)
Tab. 5.9
Solution to exercise 6 – opening of accounts (2)
Tab. 5.10
Solution to exercise 6 – opening of accounts (3)
Tab. 5.11
Solution to exercise 6 – opening of accounts (4)
Tab. 5.12
Solution to exercise 6 – opening of accounts (5)
Tab. 5.13
Solution to exercise 6 – opening of accounts (6)
Tab. 5.14
Solution to exercise 6 – opening of accounts (7)
Tab. 5.15
Solution to exercise 6 – posting to accounts (1)
Tab. 5.16
Solution to exercise 6 – posting to accounts (2)
Tab. 5.17
Solution to exercise 6 – posting to accounts (3)
Tab. 5.18
Solution to exercise 6 – posting to accounts (4)
Tab. 5.19
Solution to exercise 6 – posting to accounts (5)
Tab. 5.20
Solution to exercise 6 – posting to accounts (6)
Tab. 5.21
Solution to exercise 6 – closing of accounts (1)
Tab. 5.22
Solution to exercise 6 – closing of accounts (2)
Tab. 5.23
Solution to exercise 6 – closing of accounts (3)
Tab. 5.24
Solution to exercise 6 – closing of accounts (4)
Tab. 5.25
Solution to exercise 6 – closing of accounts (5)
Tab. 5.26
Solution to exercise 6 – closing of accounts (6)
Tab. 5.27
Solution to exercise 6 – closing of accounts (7)
Tab. 5.28
Solution to exercise 6 – closing balance
Tab. 5.29
Solution to exercise 11 – opening balance
Tab. 5.30
Solution to exercise 11 – posting and closing of accounts (1)
Tab. 5.31
Solution to exercise 11 – posting and closing of accounts (2)
Tab. 5.32
Solution to exercise 11 – posting and closing of accounts (3)
Tab. 5.33
Solution to exercise 11 – posting and closing of accounts (4)
Tab. 5.34
Solution to exercise 11 – posting and closing of accounts (5)
Tab. 5.35
Solution to exercise 11 – posting and closing of accounts (6)
Tab. 5.36
Solution to exercise 11 – posting and closing of accounts (7)
Tab. 5.37
Solution to exercise 11 – posting and closing of accounts (8)
Tab. 5.38
Solution to exercise 11 – posting and closing of accounts (9)
Tab. 5.39
Solution to exercise 11 – posting and closing of accounts (10)
Tab. 5.40
Solution to exercise 11 – posting and closing of accounts (11)
Tab. 5.41
Solution to exercise 11 – posting and closing of accounts (12)
Tab. 5.42
Solution to exercise 11 – posting and closing of accounts (13)
Tab. 5.43
Solution to exercise 11 – closing balance
Tab. 5.44
Exercise 4
Tab. 5.45
Solution to exercise 6
Tab. 5.46
Solution to exercise 11
Tab. 5.47
Solution to exercise 14
Tab. 5.48
Solution to exercise 16 – linear depreciation
Tab. 5.49
Solution to exercise 16 – declining balance depreciation
Tab. 5.50
Solution to exercise 16 – performance-oriented depreciation
Tab. 5.51
Solution to exercise 18
Tab. 5.52
Solution to exercise 20
Tab. 5.53
Solution to exercise 23
Tab. 5.54
Exercise 26
Tab. 5.55
Exercise 33
Tab. 5.56
Exercise 35 balance sheet
Tab. 5.57
Exercise 35 income statement (values in €)
Tab. 5.58
Exercise 35 solution
Tab. 6.1
Case 2 5. Development of crude oil stock
Tab. 6.2
Case 8 – balance sheet of Snow AG prior to acquisition
Tab. 6.3
Case 8 – balance sheet Ski GmbH
Tab. 7.1
Solution to case 1 1
Tab. 7.2
Solution to case 1 2
Tab. 7.3
Solution to case 1 3
Tab. 7.4
Solution to case 1 4
Tab. 7.5
Solution to case 2 5. Development of crude oil stock
Tab. 7.6
Solution to case 2 5. Development of crude oil stock – total values
Tab. 7.7
Solution to case 7 – balance sheet parent company
Tab. 7.8
Solution to case 7 – balance sheet subsidiary
Tab. 7.9
Solution to case 7 – aggregated balance sheet (column form)
Tab. 7.10
Solution to case 7 – aggregated balance sheet (account form)
Tab. 7.11
Solution to case 7 – consolidated balance sheet
Tab. 7.12
Solution to
case 8 – balance sheet of Snow AG prior to acquisition
Tab. 7.13
Solution to
case 8 – balance sheet of Ski GmbH
Tab. 7.14
Solution to case 8 – balance sheet of Snow AG after acquisition
Tab. 7.15
Solution to case 8 – aggregated balance sheet (column form)
Tab. 7.16
Solution to case 8 – aggregated balance sheet (account form)
Tab. 7.17
Solution to case 8 – consolidated balance sheet
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