Dr. Hanne Böckem
Partner, Audit, DPP
KPMG AG Wirtschaftsprüfungsgesellschaft
On 23 June 2023, the GASC adopted German Accounting Standard No. 13 (GAS 13) amending GAS 20 Group Management Report and GAS 21 Cash Flow Statement.
In particular, the amendment standard supplements regulations on the following topics in GAS 20 and GAS 21:
- Extension of the scope of application of the sector-specific annexes of GAS 20 and GAS 21 to securities institutions, payment institutions and e-money institutions as well as to pension funds;
- Recognition of cash inflows (or outflows) from grants and subsidies received (or awarded) in the cash flow statement of the grant recipient (as well as the grantor);
- Inclusion of cash pool receivables (or cash pool liabilities) in cash and cash equivalents in accordance with GAS 21, including the related issue of reporting cash flows from the change in cash pool receivables (or cash pool liabilities); and
- Reporting of cash flows in connection with the change in the scope of consolidation in relation to the acquired (or sold) cash and cash equivalents of the subsidiary.
The amendment standard shall be applied for the first time for the financial year beginning after 31 December 2022. Earlier full application is permitted. The amendment standard will be submitted to the BMJ - for the purpose of announcement in accordance with § 342 para. 2 HGB - in a timely manner.
An overview of the main changes compared to the E-DRÄS 13 is available on the GASC's homepage.