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On 6 January 2023, the Accounting Standards Committee of Germany (ASCG) published the draft of Amendment Standard No. 13 to amend the GAS 20 Group Management Report and GAS 21 Cash Flow Statements (Draft GAAS 13).

In addition to editorial adjustments, the present draft of German Accounting Amendment Standard No. 13 aims to formally adapt the scope of the industry-specific appendices of GAS 20 and GAS 21 to the legal situation. For this purpose, the draft contains the proposal to extend the scope of the sector-specific appendices of GAS 20 and GAS 21 to investment firms, payment institutions and e-money institutions as well as to pension funds.

In addition, user questions regarding GAS 21, particularly on the following topics, are addressed:

  • Presentation of cash inflows (or outflows) from received (or issued) grants and subsidies in the statement of cash flows of the grant recipient (or of the grant provider)
  • Inclusion of cash pool receivables (or cash pool liabilities) in cash and cash equivalents pursuant to GAS 21, including the associated question on the presentation of cash flows from the change in cash pool receivables (or cash pool liabilities)
  • Presentation of cash flows in connection with the change in the scope of consolidation with regard to cash and cash equivalents acquired (or sold).

The draft provides for the first-time application of the amended regulations for the financial year beginning after 31 December 2022. Earlier application is permitted.

The comment period ends on 28 April 2023.

Draft GAAS 13 can be accessed on the ASCG homepage.

KPMG Express Accounting News

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