The Accounting Amendment Act 2014 (RÄG 2014), published in the Federal Law Gazette on January 13, 2015, affects all financial years beginning on January 1, 2016. The starting point for this law was the EU Accounting Directive of June 26, 2013, which replaced the fourth and seventh directives at the time, and this provided extensive relief or relief for smaller companies in particular, the creation of an EU-wide standardization of financial statements and a certain The aim is to increase the transparency of the company.

 

The Accounting Amendment Act 2014 (RÄG 2014) brings significant changes that will already be applicable to all annual financial statements from January 1, 2016. The annual financial statements as of December 31, 2015 must therefore continue to be prepared using the previous regulations. In principle, no retroactive application is intended; There are a few exceptions, but these could be significant in certain circumstances. For example, the newly adjusted threshold values ​​for the size classes for companies (Section 221 UGB) are applicable retroactively.
In the following Long text we will walk you through the most important aspects of the implementation of this directive present the RÄG 2014 in more detail and highlight some particularly relevant points that will have to be taken into account in the future when preparing the annual financial statements.

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