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Germany. The Influence of IFRS on the German Accounting System: The Half-Hearted Reforms of the German Accounting Law Modernization Act

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IFRS in a Global World

Abstract

At a first glance the IFRS can be described as an accounting system which favors the asset-liability perspective, using a fair value measurement model. This view conflicts with the German cost-orientated tradition. Nevertheless, in the last years there had been some changes in the accounting system in Germany. One of the most important changes is the German Accounting Law Modernization Act which was enacted in 2009.

This article takes the chance to have a closer look into the German accounting rules in force and to analyze whether they changed essentially—and if so in which way the changes were influenced by the international accounting standards. Thus, the authors analyze similarities and differences in the revenue recognition, the recognition of assets and liabilities in IFRS and the German principles of proper bookkeeping and whether a movement of the principles of proper bookkeeping towards the IFRS took place.

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Authors and Affiliations

  1. Goethe-University, Frankfurt, Germany

    Michael Hommel & Julia Zicke

Authors
  1. Michael Hommel
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  2. Julia Zicke
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Correspondence to Michael Hommel .

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Editors and Affiliations

  1. Paris-Dauphine University, Paris cedex 16, France

    Didier Bensadon

  2. Paris-Sud University, Sceaux, France

    Nicolas Praquin

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Hommel, M., Zicke, J. (2016). Germany. The Influence of IFRS on the German Accounting System: The Half-Hearted Reforms of the German Accounting Law Modernization Act. In: Bensadon, D., Praquin, N. (eds) IFRS in a Global World. Springer, Cham. https://doi.org/10.1007/978-3-319-28225-1_20

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