When accounting for 1791, according to the HGB or IFRS, various regulations must be observed with regard to the valuation and recognition of assets. Approach regulations according to HGB are:
Approach requirements - According to the general requirement of Section 246 (1) HGB, the 1681 balance sheet must contain all assets, debts and prepaid expenses. In the case of provisions, the requirement to apply relates to provisions for uncertain liabilities and impending losses from pending transactions (Section 249 (1) sentence 1 HGB), as well as provisions for neglected maintenance, provided that the expenses are made up within 3 months in the following financial year, and on warranties that are provided without any legal obligation (Section 249, Paragraph 1, Clause 2, No. 1 and 2 of the German Commercial Code). Provisions for deferred taxes are only to be recognized by corporations in accordance with Section 274 (1) of the German Commercial Code (HGB).
Approach prohibitions - They apply to the start-up and capital procurement costs (prohibition of capitalization according to § 248 Paragraph 1 HGB) and for non-remunerated, intangible assets (§ 248 Paragraph 2 HGB).
Approach options - On the assets side, they relate to the asset delimitation of customs duties, consumption taxes and value added tax on down payments (§ 250 Paragraph 1 HGB), the damrum or discounts, deferred taxes (according to § 274 Paragraph 2 HGB only for corporations) as well as the regulations for capitalizing the derivative (= derived) goodwill. On the liabilities side, there are provisions for neglected maintenance after 3 months, but within one year after Balance sheet date (Section 249 (1) sentence 3 HGB), special expenses (Section 249 (2) HGB), provisions for old pension commitments and tax-free reserves. For the Tax balance result from the passivation options.
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