Posts Tagged ‘law’

Frankfurt Sheet

Friday, February 12th, 2016

Steuerberater Frankfurt for a clean balance sheet the balance sheet plays a role in every company, because it shows the sources and uses of capital. This can be also a body next to a company. The balance sheet is concise and a comparison of assets and liabilities in account form. Here one speaks also of assets and liabilities. A different approach is used to the dynamics of the resources in the foreground. Here, the terms of use of funds (assets) and sources of funds (liabilities) are used.

When you create a balance sheet you can consult also an accountant from Frankfurt. The balance sheet is one of the annual and interim financial statements or other date analysis in a company. With the profit and loss account, the balance sheet represents the economic success of a company in a past consideration. A balance sheet is created on a date, a profit and loss account for a period of time. Computationally, the balance sheet represents the obtained from the accounting records, summarized and systematic overview of structured assets. By Comparison of closing stock of various active and passive costs at different times a company’s economic development can be represented across time and traced by inspection of the accounting. Therefore when accounting also called a comparison of the company’s assets. The balance sheet has different functions.

The documentation function fills them, because she are binding information about a company’s existing assets. It represents the formal completion of the accounting. It also has the winning determination function, by the equity at the beginning of the fiscal year is compared at the end and thus a gain or loss can be determined. The balance sheet that it is an instrument for the control of the operation for the entrepreneur provides the information function. Also she can be viewed by interested third parties such as creditors, banks and lenders. There are different types of balances. Current balances are usually as at 31 December of the year created. Publicly traded Companies are even encouraged to publish an interim report each quarter. In addition to the regularly there are also extraordinary balance sheets to create balance sheets, is prescribed at various points or basis for decision-making are useful. These include the Foundation balance sheet, Liquiditionsbilanz and fusion balance and financial balance. For most companies, it is also prescribed to create both a commercial and a tax balance sheet. Here, there might be differences between the balances in the approach and the evaluation. Depending on a distinction between individual and group balance sheet by the number of large enterprises. The individual balance sheet belongs to the financial statements, the consolidated balance sheet is part of the consolidated financial statements. When a merchant begins a commercial enterprise, it must create an opening balance sheet. Also, there is still a balance, which moves away from financials. This is the so-called knowledge balance. A balance sheet is divided into two areas. The active, so the use of the funds available on the left side. These include the assets (tangible, intangible assets, financial assets) and current assets (inventories/inventories, receivables and other assets, securities, cash etc.). The liabilities, so the funds are available on the right side. This includes equity capital (capital, capital reserves, retained earnings, retained earnings/loss carried forward, profit / loss, loss covered, where appropriate, not by equity), provisions, liabilities, accruals and deferred tax liabilities in the first place. If you would like to put the accounting of his company in the hands of professionals, you should engage an accountant in any case.

Refinancing Register

Tuesday, April 22nd, 2014

The refinancing register is still a shadowy existence. Wrongly, because the banks that are comfortable, use it in different ways for a cheap funding In September 2005, the regulations to the refinancing register were newly regulated. To recast of the paragraph 22a was ff of the German Banking Act. Originally, the securitisation of so-called true sales should be facilitated by the revision mainly mortgage banks. The banking industry is true sales the sale of receivables to a special purpose vehicle formed specially for the occasion. This company issued in Exchange securities in the financial market to refinance the purchase of receivables. The payments of the debtor continues to be on the selling company that distributes the payments to the special purpose vehicle. For a mortgage bank is the benefits of securitization of true sales in the extraction of liquidity and in the transfer of loan risks to the SPV.

Once a claim or a security properly in the refinancing register registered, will receive the transfer authorized a special retirement rights if the refinancing company must apply for insolvency. In accordance with the Act registered securities and claims are therefore not in the bankruptcy estate of the re financial undertaking and protected therefore prior to the enforcement of an arrest or a foreclosure. Credit institutions, which acted not only as mortgage banks, quickly recognized the benefits of the refinancing register. By using the registry, the banks and savings banks can react flexibly and cost-effectively on their liquidity needs. Pfandbriefstelle also can be carried out easier. All on the assets side of the balance sheet assets of a credit institution can be transferred to a special purpose vehicle. Register liens on a plane or ship mortgages are among the assets to such liens, claims against third parties. To transfer a call to the special purpose vehicle, a registration in the register of refinancing must be the exact meets the legal requirements.

In the register are not necessarily required in paper form. In the refinancing register Regulation (RefiRegV) and in the paragraph 22a ff of the German Banking Act ist laid down in detail, which needs a special software must meet in order to genugen the electronic management of the refinancing register. The electronic register guide offers many advantages over the register in paper form banks and savings banks. With both types of register management, monitoring and checking of the regularity but carried an administrator employed by the Federal Agency for financial services supervision (BFin). A good software to conduct a refinancing register complies with all statutory requirements for the proper registration of claims and collateral including the storage of all changes and deletions. In addition the software offers more, the registered data economically to evaluate and to create individual reports. The input of the data should be user friendly and changes or deletions must be always easy to understand. So, banks get a cost effective and easy way of refinancing and the tax credit risks, have cleaned up their balance sheet.

Federal Constitutional Court

Monday, April 14th, 2014

Before the Federal Constitutional Court declared the inheritance tax law may be partly for ineffective, yet substantial inheritance taxes can be saved company succession and greater wealth. The Constitutional Court examined the inheritance tax and gift tax law on its constitutionality. Still business assets can be transmitted virtually tax-free lifetime transfers on the next generation. That may be changing soon. Therefore, experts advise to act now and take advantage of the time remaining. Until end of 2008 the inheritance tax law (ErbStG) was comprehensively amended after the Federal Constitutional Court (BVerfG) had declared parts of the old rules unconstitutional. But even after the amendment to the constitutional doubts.

The Bundesfinanzhof (BFH) has presented the law to review the Constitutional Court therefore end 2011. A decision is expected in the first quarter of 2014. In the summer of this year, the legislature has a number already by a further act of Plugged tax loopholes. In particular the so-called cash LTDs, involving large cash tax-free were being given away, was destroyed. In addition to the already prevented cash limited liability companies, it is the Federal fiscal court and with him a thorn in the side of that business assets (still) very strong transparency inherited or given away can be the tax authorities, while there are not these favoured possibilities for private assets. He looks hurt therefore the principle of equality. Although the Federal Constitutional Court in an earlier decision had expressly for allowed a privileging of company assets, (keyword job security) would be connected in the long run for the benefit of the common good and unlike normal private not any could be issued as. However, a restriction of the tax breaks for the transfer of business assets is widely expected. A whole range of designs is entirely legal possible, which Assets completely tax-free or at least tax-free can be transferred to a large extent.