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      For many international companies, preparing annual financial statements under German commercial law (HGB) is a burdensome compliance obligation that adds no value for managing the business, because the KPIs used for management purposes are defined on the basis of international group GAAP (e.g., IFRS, US GAAP, J-GAAP).

      However, extensive preparation, audit, and disclosure requirements continue to apply in Germany, making it necessary to prepare financial statements in accordance with German commercial law.

      Employees of German subsidiaries of international companies are often less familiar with the requirements of German commercial law, as they primarily have to apply and report under the group's accounting standards (IFRS, US GAAP, China GAAP, etc.). Alternatively, the local country entity is supported entirely by an internal shared service center abroad that


      Our services - your benefits

      We take care of all tasks related to the preparation of annual financial statements under German commercial law. Our services include, in particular:

      • Conversion to HGB accounting
        • Posting of conversion entries from group GAAP to German commercial law (HGB)
        • Execution of required closing entries
        • Account mapping in accordance with the HGB classification structure
      • Preparation of the annual financial statements under commercial law
        • Preparation of the balance sheet and income statement
        • Preparation of the notes to the financial statements under commercial law
        • Support in preparing the management report
        • Support in drafting shareholder resolutions (for example, on disclosure or on exemption from preparation and audit pursuant to Section 264 (3) HGB)
        • Support in publishing the annual financial statements under commercial law
      • Preparation of the (sub-)group consolidated financial statements under commercial law

        We carry out all necessary steps for you to prepare the consolidated financial statements:

        • Preparation of the aggregated balance sheet, validations,
        • Performance of the consolidation,
        • Preparation of the consolidated balance sheet and consolidated income statement, the consolidated statement of changes in equity, the consolidated cash flow statement, and the notes to the consolidated financial statements, including the consolidated fixed asset schedule,
        • Support in preparing the group management report in accordance with GAS 20 (DRS 20)
      • Coordination with the auditor

        We prepare the audit-related documentation as part of preparing the financial statements and, if desired, support you during the audit. In addition to discussing the financial statements, this includes incorporating audit findings and finalizing the financial statements.

      Well set up to support you

      With our Finance as a Service teams and many well-proven processes, we are able to support you competently. This allows you to focus calmly on what matters most: your operating business.

      Our auditors, tax advisors, certified accountants, and subject-matter specialists have specialized in the requirements of efficiently and quickly taking over finance functions. Communication takes place through dedicated contacts, who provide continuous support tailored to your individual needs.

      When needed, we can draw on our national and international KPMG network of specialists at any time. This way, you benefit equally from our country and industry expertise.

      Our modern IT infrastructure, combined with KPMG's core competencies, will noticeably relieve your workload. Respecting our independence is, of course, a matter of course for us.

      For further information or questions, we are happy to help. Please get in touch.


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