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Aufstellungspflicht

English translation: obligation to prepare (financial statements)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

German term or phrase:	Aufstellungspflicht
English translation:	obligation to prepare (financial statements)
Entered by:	Heather Ferlicchia

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14:41 Mar 6, 2008

German to English translations [PRO]
Bus/Financial - Accounting

German term or phrase: Aufstellungspflicht

HGB accounting - I know what it is, but I can't retrieve a translation from my weary brain *sigh* Doing the notes to a consolidated financial statement at the mo:

Gemäß §264 III sowie §264b HGB sind folgende Gesellschaften von der Aufstelungspflicht befreit....

Heather Ferlicchia KudoZ activity Questions: 226 (none open) (2 closed without grading) Answers: 106 Germany
Local time: 00:15

obligation to prepare (financial statements)

Explanation:
"Aufstellung" is equivalent to the preparation of financial statements.

"Pursuant to section 264 III and section 264b HGB, the following entities are exempt from the obligation to prepare (consolidated) financial statements..."

See English examples:

http://www.internationaltaxreview.com/?Page=10&PUBID=35&ISS=...
"More specifically, the law as amended provides that small sized groups are exempt from the obligation to prepare consolidated financial statements."

http://ar2006.daimlerchrysler.com/cgi-bin/daimler/show.ssp?r...
"In order to be exempt from the obligation to prepare consolidated financial statements in accordance with German law, the consolidated financial statements prepared in accordance with U.S. GAAP were supplemented with the Group management report and additional explanations as required by Section 57 and 58 of the EGHGB (Introductory Law to German Commercial Code)."