Bilanzierung Lecture Notes Flashcards

Vocabulary flashcards based on lecture notes covering external accounting, the income statement, balance sheet, financing, and cash flow statement.

Bilanz (Balance Sheet)

A financial statement that presents the assets, liabilities, and equity of a company at a specific point in time.

Gewinn- und Verlustrechnung (Income Statement)

Financial statement that reports a company's financial performance over a specific period through revenues and expenses.

"True and Fair View"

The principle that financial statements should present a truthful and unbiased view of a company's financial position and performance.

Grundsätze der Bilanzierung (Accounting Principles)

Accounting guidelines that ensure financial statements are reliable, consistent, and comparable.

Anlagevermögen (Fixed Assets)

Assets such as property, plant, and equipment intended for long-term use in a business.

Umlaufvermögen (Current Assets)

Assets expected to be converted into cash or used up within one year.

Eigenkapital (Equity)

The owner's stake in a company, calculated as assets minus liabilities.

Fremdkapital (Debt)

Amounts owed by a company to creditors.

Inventur (Inventory)

The process of physically counting and verifying assets.

HGB (Handelsgesetzbuch)

German Commercial Code, containing accounting regulations for various legal forms.

IFRS

International Financial Reporting Standards, providing a global framework for preparing public company financial statements.

Kapitalflussrechnung (Cash Flow Statement)

A financial statement providing a summary of all the cash inflows and outflows that occur during a specific period.