accounting law reform act and its impacts

The BilMoG shall ensure that the tried and tested cost-saving and simple German Commercial Code Accounting Law will be maintained on a continuous basis and that it will be strengthened for the competition with international accounting standards. The annual balance sheet in terms of commercial law will remain the basis for profit distribution as well as starting point for the determination of taxable income. Deviations between commercial law and tax accounting law will still be increased by the BilMoG.

The participants will know about the significance of the BilMoG and will gain insight into the „crux of the matter“ with regard to the new German commercial code accounting. They will be able to implement the knowledge imparted in their own professional environment.

Targets of the BilMoG

Economic assignment of assets

Relationship of balance sheet and tax  balance sheet

Modification regarding goodwill accounting

Activation of internally generated intangible assets

Changing the amount of manufacturing costs

Fair value accounting regarding financial instruments

Evaluation of accruals (for pensions)

Exceptional depreciations

Accounting policy according to the BilMoG

Deregulation and reduction of costs

Significance for one’s own company
Legal obligation to keep records, trigger points in annual accounts, evaluation of accruals, fiscal effects of the BilMoG

Legal requirements
Summary of requirements stipulated by the European Community Law