Wirtschaft & Recht 1

Wirtschaft

The process of using scarce resources (labor, materials, money) to satisfy human needs.

Unternehmen

A long-term organized activity that produces goods/services; includes GmbH, AG, OG, Einzelunternehmen.

Körperschaft

A legal entity (legal person) that can own assets and sign contracts (e.g., GmbH, AG, Verein).

Immaterielle Vermögenswerte

Intangible assets like software, licenses, and patents.

Umsatz

Revenue; price × quantity sold.

Kosten

Costs; amount paid to produce or purchase goods/services.

Gewinn

Profit; Umsatz − Kosten.

Umsatzsteuer (USt)

Tax charged on sales; the company collects it from customers and must pass it on to the Finanzamt.

Vorsteuer (VSt)

USt paid on purchases; can be deducted from USt owed.

Zahllast

Amount owed to the Finanzamt: USt − VSt (or refunded if negative).

Durchlaufposten

A through account; money that flows through the company but does not belong to it (like USt).

IST System

USt and VSt count when the invoice is paid; used by smaller businesses.

SOLL System

USt counts when the invoice is issued, VSt counts when the invoice is received; used by larger businesses.

Reverse Charge (Übergang der Steuerschuld)

Seller charges 0% USt; buyer calculates USt and VSt (net zero); used mostly in EU B2B services.

Kleinunternehmer

Business with less than 55,000€ annual Umsatz; does not charge USt and cannot deduct VSt.

Kleinunternehmer Freigrenze

If Umsatz exceeds 55,000€ by more than 10% (60,500€), USt

UVA (Umsatzsteuervoranmeldung)

Monthly or quarterly report where USt and VSt are compared to calculate Zahllast.

Skonto

Payment discount given for early payment (2–3%), reduces the Rechnungsbetrag.

Bilanz

A balance sheet; shows what a company owns (assets) and how those assets are financed (equity + liabilities) on a specific date.

Aktiva

Assets; everything the company owns or controls that has value (cash, inventory, receivables, machines).

Anlagevermögen

Long-term assets used for more than one year (machines, vehicles, buildings, software, equipment).

Umlaufvermögen

Short-term assets that are used up or turned into cash within a year (inventory, raw materials, cash, receivables).

Passiva

Equity + liabilities; shows who financed the assets (owners or creditors).

Eigenkapital

Equity; financing from the owners plus accumulated profits. Increases with profit or owner investment, decreases with losses or withdrawals.

Fremdkapital

Liabilities; debts the company owes to external parties (bank loans, supplier payables, tax debts).

GuV

(Gewinn und Verlustrechnung) — Income statement that shows revenues and expenses during a period to determine profit or loss.

Erträge

Revenues; amounts the company earns from business activities (e.g., sales income). Increase profit.

Aufwände

Expenses; costs of operating the business (rent, salaries, utilities, materials). Decrease profit.

Jahresergebnis

Annual result (profit or loss) calculated from all revenues minus all expenses.

Staffelform

Step format of the GuV; revenues at the top, expenses below, ending with the annual result.

Kontenform

T-account format of the GuV; revenues on one side, expenses on the other, difference is the annual result.

Doppelte Buchführung

Every transaction affects at least two accounts to keep the system balanced.

Forderungen

Receivables; amounts customers owe the company for goods or services already delivered.

Verbindlichkeiten

Payables; amounts the company owes to suppliers or creditors.

Bank

The company’s bank account; increases when money comes in and decreases when payments are made.

Kassa

Cash on hand; physical money kept by the company.

Wareneinsatz

Cost of goods sold; expense recorded when inventory is used or sold, not when it is purchased.

Warenbestand

Inventory; goods and materials that the company holds for sale or production.

Aufwand bei Verbrauch

The principle that an expense is recognized when the value is consumed or used, not when it is paid.

Privatentnahme

Owner withdrawal; money or goods the owner takes out of the business. Reduces equity but is not an expense.

Privateinlage

Owner investment; money the owner contributes to the business. Increases equity.

Lieferantenverbindlichkeiten

Supplier payables; debts for purchases made on credit.

Umsatzerlöse

Sales revenue; income from selling goods or services.

Abschreibung

Depreciation; yearly expense that reduces the value of long-term assets over time.

Einkommensteuer (ESt)

Income tax for private individuals based on their annual taxable income (self-employed, freelancers, landlords, etc.).

Einkünfte

Income after deducting business expenses; calculated as Einnahmen minus Betriebsausgaben.

Betriebsausgaben

Business expenses that are necessary to earn income (e.g., materials, equipment, office rent).

steuerpflichtiges Einkommen

Taxable income after subtracting Sonderausgaben and Absetzbeträge.

progressiver Tarif

Progressive tax system where different portions of income are taxed at increasing rates.

Sonderausgaben

Special personal expenses that reduce taxable income (e.g., donations, certain insurances).

Absetzbeträge

Tax credits that reduce the final tax owed (e.g., Verkehrsabsetzbetrag).

ESt-Vorauszahlungen

Quarterly prepayments for ESt made by self-employed individuals during the year.

Lohnsteuer (LSt)

Income tax for employees; calculated using annualized income but withheld monthly by the employer.

Bruttolohn

Gross salary before any deductions.

SV-DN (Dienstnehmeranteil)

Employee’s share of social insurance; deducted from Bruttolohn.

LSt-pflichtiger Betrag

Amount on which Lohnsteuer is calculated; Bruttolohn minus SV-DN.

Nettolohn

Net salary the employee actually receives after SV-DN and Lohnsteuer are deducted.

Dienstgeberkosten

Total cost to the employer for having an employee (Bruttolohn plus employer contributions and taxes).

SV-DG (Dienstgeberanteil)

Employer’s share of social insurance; paid in addition to Bruttolohn.

DB (Dienstgeberbeitrag)

Employer contribution to the Familienlastenausgleichsfonds.

DZ (Zuschlag zum DB)

Additional employer surcharge on the DB, depending on region.

Kommunalsteuer

Municipal tax paid by the employer based on wages.

BMV-Beitrag (Mitarbeitervorsorgekasse)

Employer contribution to the employee severance fund.

Körperschaftsteuer (KöSt)

Corporate income tax paid by companies such as GmbH and AG; applied to company profit.

Kapitalertragsteuer (KESt)

Withholding tax on capital income (e.g., interest, dividends); deducted automatically before payout.