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name: hgb-standards description: German GAAP (HGB) — Bilanzierung, GoB, Maßgeblichkeitsprinzip
The Handelsgesetzbuch (HGB) is the German Commercial Code governing financial reporting for all German commercial entities. It applies to:
Key legislation hierarchy:
HGB (Handelsgesetzbuch) — primary source
§§ 238-263: Allgemeine Vorschriften (general provisions)
§§ 264-335: Kapitalgesellschaften (corporations)
§§ 336-339: Genossenschaften (cooperatives)
§§ 340-341: Kreditinstitute, Versicherungen (banks, insurers)
§§ 342-342e: Rechnungslegungsgremium (accounting standards body)
DRS (Deutsche Rechnungslegungs Standards) — interpretive guidance from DRSC
EStG (Einkommensteuergesetz) — tax law, linked via Maßgeblichkeitsprinzip
Who must apply HGB:
GoB are the fundamental accounting principles underlying HGB. They are partly codified and partly derived from legal practice and academic doctrine.
Core principles:
| Principle | German | HGB Reference | Meaning |
|---|---|---|---|
| Completeness | Vollständigkeit | § 246 Abs. 1 | All assets, liabilities, income, expenses must be recorded |
| Clarity | Klarheit | § 243 Abs. 2 | Financial statements must be clear and comprehensible |
| Going concern | Fortführung | § 252 Abs. 1 Nr. 2 | Assume continuation of business activity |
| Individual valuation | Einzelbewertung | § 252 Abs. 1 Nr. 3 | Assets and liabilities valued individually |
| Prudence | Vorsichtsprinzip | § 252 Abs. 1 Nr. 4 | Cautious valuation; anticipate losses, not gains |
| Realization | Realisationsprinzip | § 252 Abs. 1 Nr. 4 | Revenue only when realized (delivery, performance) |
| Imparity | Imparitätsprinzip | § 252 Abs. 1 Nr. 4 | Unrealized losses must be recognized; unrealized gains must not |
| Accrual | Periodenabgrenzung | § 252 Abs. 1 Nr. 5 | Income/expenses allocated to the correct period |
| Consistency | Stetigkeit | § 252 Abs. 1 Nr. 6 | Consistent application of valuation methods |
The Vorsichtsprinzip (prudence principle) is the dominant principle in HGB, unlike IFRS where neutrality/faithful representation takes precedence. This leads to systematically more conservative HGB balance sheets.
The Maßgeblichkeitsprinzip (§ 5 Abs. 1 EStG) establishes that the commercial balance sheet (Handelsbilanz) is authoritative for the tax balance sheet (Steuerbilanz).
Grundsatz:
Handelsbilanz → Steuerbilanz (was in der Handelsbilanz steht, gilt auch steuerlich)
Ausnahmen:
- Steuerliche Sondervorschriften gehen vor (z.B. § 6 EStG Bewertung)
- Steuerliche Wahlrechte können unabhängig von der Handelsbilanz ausgeübt werden
(seit BilMoG 2009 — Durchbrechung der umgekehrten Maßgeblichkeit)
Before BilMoG (2009): Umgekehrte Maßgeblichkeit required that tax-only options had to be mirrored in the commercial accounts. This is largely abolished.
After BilMoG: Tax choices no longer need to be reflected in the Handelsbilanz. This means HGB and tax balance sheets can now diverge more significantly, creating more latente Steuern (deferred taxes).
Anschaffungskosten (acquisition cost) — § 255 Abs. 1 HGB:
Purchase price
+ Incidental acquisition costs (transport, customs, notary)
- Reductions in purchase price (rebates, discounts)
= Anschaffungskosten
Herstellungskosten (production cost) — § 255 Abs. 2-3 HGB:
Mandatory inclusion (Untergrenze):
Material costs (Materialeinzelkosten)
+ Manufacturing labor (Fertigungseinzelkosten)
+ Special direct costs (Sondereinzelkosten)
+ Material overhead (Materialgemeinkosten) — mandatory since BilMoG
+ Manufacturing overhead (Fertigungsgemeinkosten) — mandatory since BilMoG
Optional inclusion (Wahlrecht):
+ General administrative overhead (Verwaltungsgemeinkosten)
+ Social facility costs (Aufwendungen für soziale Einrichtungen)
Prohibited inclusion:
- Research costs (Forschungskosten)
- Selling costs (Vertriebskosten)
Development costs: Wahlrecht to capitalize (§ 248 Abs. 2 HGB) with distribution restriction (§ 268 Abs. 8 HGB)
Planmäßige Abschreibungen (scheduled depreciation) — § 253 Abs. 3 HGB:
Außerplanmäßige Abschreibungen (unscheduled write-downs) — § 253 Abs. 3-4 HGB:
Wertaufholung (reversal of write-down) — § 253 Abs. 5 HGB:
Mandatory provisions (Passivierungspflicht) — § 249 Abs. 1 HGB:
Measurement — § 253 Abs. 1-2 HGB:
Rückstellungen = best estimate of settlement amount (Erfüllungsbetrag)
Long-term provisions (> 1 year):
Must be discounted using the average market interest rate
of the past 7 years for the corresponding maturity
(Published monthly by Deutsche Bundesbank)
§ 274 HGB (Kapitalgesellschaften):
Key difference from IFRS/US GAAP: HGB uses the balance sheet liability method like IFRS but with the option (not obligation) to recognize net DTAs.
| Topic | HGB | IFRS |
|---|---|---|
| Dominant principle | Vorsichtsprinzip (prudence) | Faithful representation / neutrality |
| Revenue recognition | Realisationsprinzip (simpler) | IFRS 15 five-step model |
| Leases (lessee) | Economic ownership test | IFRS 16 — all on balance sheet |
| Development costs | Wahlrecht to capitalize | Capitalize if IAS 38 criteria met |
| Goodwill | Amortize over useful life (max 10 yr, §253 HGB) | No amortization, annual impairment |
| Provisions | Erfüllungsbetrag, 7-year avg discount rate | Best estimate, current market rate |
| Fair value measurement | Limited (primarily cost model) | Extensive fair value (IFRS 13) |
| Deferred taxes | Net DTA: Wahlrecht; Net DTL: Pflicht | IAS 12: recognize all (probable DTAs) |
| Inventory LIFO | Permitted | Prohibited |
| Revaluation of assets | Not permitted above cost | Permitted (IAS 16 revaluation model) |
| Consolidation scope | Stimmrechtsmehrheit or control | IFRS 10: control model |
HGB financials typically show:
AKTIVA (Assets)
A. Anlagevermögen (Non-current assets)
I. Immaterielle Vermögensgegenstände
II. Sachanlagen
III. Finanzanlagen
B. Umlaufvermögen (Current assets)
I. Vorräte
II. Forderungen und sonstige Vermögensgegenstände
III. Wertpapiere
IV. Kassenbestand, Guthaben bei Kreditinstituten
C. Rechnungsabgrenzungsposten (Prepaid expenses)
D. Aktive latente Steuern
E. Aktiver Unterschiedsbetrag aus Vermögensverrechnung
PASSIVA (Equity & Liabilities)
A. Eigenkapital
I. Gezeichnetes Kapital
II. Kapitalrücklage
III. Gewinnrücklagen
IV. Gewinnvortrag / Verlustvortrag
V. Jahresüberschuss / Jahresfehlbetrag
B. Rückstellungen
C. Verbindlichkeiten
D. Rechnungsabgrenzungsposten (Deferred income)
E. Passive latente Steuern
Before finalizing HGB accounting, verify: