HGB-Einzelabschluss

English translation: HGB single-entity financial statements

00:33 Apr 11, 2005
German to English translations [PRO]
Bus/Financial - Accounting
German term or phrase: HGB-Einzelabschluss
term contained in annual report
accuprose (X)
English translation:HGB single-entity financial statements
Explanation:
This is the preferred term. Synonymous with "HGB-Jahresabschluss/Jahresabschluss nach HGB" for full-year periods. These are the standard single-entity financial statements required to be prepared by all Kaufleute, in particular corporations and certain commercial partnerships.

As a matter of record, the IFRS equivalent is known in English as "separate financial statements", and in German as "separater Einzelabschluss nach IFRS" (see IAS 27).

And as has already been pointed out, it's *always* statements in the plural.

The bilingual (German/English) XBRL Taxonomy of HGB financial reporting (plus tax reconciliation) will now be available sometime in 2Q2005.

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Note added at 19 hrs 3 mins (2005-04-11 19:36:43 GMT)
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A quick note on IFRS \"separate financial statements\". Starting in 2005, German companies may publish these IFRS single-entity financial statements instead of their HGB single-entity financial statements - see HGB s. 325(2a). However, even if they do, they\'ll still have to file their HGB-Einzelabschluss with the commercial register (HGB s. 325(2b) no. 3), and this is what the shareholders will continue to use to vote on dividend proposals (and it\'s the basis of tax, of course). A typically German solution, I\'m afraid...
Selected response from:

RobinB
United States
Local time: 21:14
Grading comment
3 KudoZ points were awarded for this answer



Summary of answers provided
5 +4HGB single-entity financial statements
RobinB
4 +2not for points
Ingrid Blank
4 -1individual company closing according to the German Commercial Code
swisstell


  

Answers


8 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
HGB-einzelabschluss
individual company closing according to the German Commercial Code


Explanation:
HGB stands for Handelsgesetzbuch i..e German Commercial Code

swisstell
Italy
Local time: 04:14
Works in field
Native speaker of: German
PRO pts in category: 67

Peer comments on this answer (and responses from the answerer)
neutral  Kim Metzger: What's a "company closing"?
12 hrs

disagree  Alison Schwitzgebel: emmm - never heard financial statements being called a "closing" before :-(
15 hrs
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
not for points


Explanation:
I always write: individual financial statements according to HGB (German Commercial Code)

Ingrid Blank
PRO pts in category: 58

Peer comments on this answer (and responses from the answerer)
agree  Mustafa Er (BSc MA): -
1 hr

agree  sonja29 (X)
7 hrs
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6 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +4
HGB single-entity financial statements


Explanation:
This is the preferred term. Synonymous with "HGB-Jahresabschluss/Jahresabschluss nach HGB" for full-year periods. These are the standard single-entity financial statements required to be prepared by all Kaufleute, in particular corporations and certain commercial partnerships.

As a matter of record, the IFRS equivalent is known in English as "separate financial statements", and in German as "separater Einzelabschluss nach IFRS" (see IAS 27).

And as has already been pointed out, it's *always* statements in the plural.

The bilingual (German/English) XBRL Taxonomy of HGB financial reporting (plus tax reconciliation) will now be available sometime in 2Q2005.

--------------------------------------------------
Note added at 19 hrs 3 mins (2005-04-11 19:36:43 GMT)
--------------------------------------------------

A quick note on IFRS \"separate financial statements\". Starting in 2005, German companies may publish these IFRS single-entity financial statements instead of their HGB single-entity financial statements - see HGB s. 325(2a). However, even if they do, they\'ll still have to file their HGB-Einzelabschluss with the commercial register (HGB s. 325(2b) no. 3), and this is what the shareholders will continue to use to vote on dividend proposals (and it\'s the basis of tax, of course). A typically German solution, I\'m afraid...

RobinB
United States
Local time: 21:14
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 929

Peer comments on this answer (and responses from the answerer)
agree  Alison Schwitzgebel: yup. That'll teach me to go off to dog school for the morning instead of sitting here kudozing! // Cheeky! Nah, we've got a lovely wee Cairn Terrier called Morris. Keeps my toes nice and warm under the desk most days!
5 hrs
  -> Dog school? Like, learning how to bark and wag your tail?//Lucky you, nice dogs. We had to put down old Scoobs in December; almost 13 - not bad for a Golden with a dodgy heart, but she could hardly move any more. Replacement due sometime this summer.

agree  Kim Metzger: Now we know.
6 hrs

agree  Michael Schubert: Excellent, thank you
9 hrs

agree  nruddy
10 hrs
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