In commercial accounting , the valuation decides the valuation with which an asset or liability is to be accounted for , i.e. with which amount it is to be included in the commercial and tax balance sheets.
The valuation has an influence on the amount of the equity capital of companies , so that there are detailed regulations on the valuation in the balance sheet in national and international accounting law . The legal bases are regulated in the respective national commercial and tax accounting law. In Germany these are the Commercial Code and the Income Tax Act . The most important international accounting regulations are IFRS and US GAAP . Company valuation methods are also used for valuation in accounting (e.g. to derive discount rates or capital costs ).
When evaluating companies may assume that they will continue for an indefinite time ( going concern basis ; English going concern principle ). You can therefore count on the planned useful life for assets and the planned maturities for debt capital , whereby valuation methods that have been chosen should be retained (principle of continuity ).
Commercial law specifies the following assessment criteria:
- Assets are to be valued at the ( amortized ) acquisition or production costs. In the case of impairments , the fair value (tax law: the partial value ) can or must be applied. In the case of items with a stock exchange or market price , this corresponds to the attributable value ( (4 ) HGB ).
- Liabilities are accounted for at the settlement amount ( (1) HGB),
- Pensions are obligations at the discounted average market interest rate ( to passivate para. 2 HGB) and
- Provisions with the amount that is necessary based on sound business judgment ( (2) HGB).
Instead of subsequent cost may, under specified conditions for the plant - and working capital deviating values are set. This includes the stock exchange or market price , if this is lower on the reporting date , the fair value according to IFRS , or the consideration of future fluctuations in value. The lower of cost or market principle under commercial law must be observed when exercising the voting rights .
Principle of individual assessment and exceptions
In principle, each economic good is to be assessed individually . In international accounting even the separate recording of essential parts ( components ) of property, plant and equipment is required ( IAS 16 ). However, since the individual assessment is not always possible or economical, a number of different procedures are also permitted:
- Tangible assets as well as raw , auxiliary and operating materials can be stated with fixed values , i.e. with a constant amount and a constant value. As a rule, a periodic inventory is necessary, which can lead to a corrective assessment (at least every 3 years).
- The group valuation makes it possible to group assets of the same value or of the same type and to calculate a weighted or moving average value .
- A specific consumption sequence procedure is assumed for the collective evaluation. This method assumes that certain items were sold or consumed first (for example, the most expensive ones) without being determined through a physical inventory. However, there is no longer any sequential consumption procedure that is consistently recognized in all accounting systems.
Swiss bookkeeping and accounting law defines the assessment criteria in Art. 960 to Art. 960e in the Swiss Code of Obligations ("OR"). Art. 960 OR contains the valuation principles. This particularly concerns the careful valuation (Art. 958 OR and Art. 958c OR in conjunction with Art. 960 OR), value adjustments and the question of when to choose an individual or a group valuation. In the articles following Art. 960 OR, the specialized provisions deal with the valuation of assets in general (Art. 960a OR), assets with observable market prices (Art. 960b OR), inventories and non-invoiced services (Art. 960c OR), Fixed assets (Art. 960d OR) and liabilities (Art. 960e OR).
International Financial Reporting Standards
- (Amortized) acquisition or production costs ( English Cost Model )
- fair value ( english fair value )
- Value in use ( English value in use )
- Net selling price ( English Fair Value Less Cost to Sell )
- Settlement amount .
- Adolf G. Coenenberg , Axel Haller, Gerhard Mattner, Wolfgang Schultze: Introduction to accounting: Fundamentals of bookkeeping and accounting , 8th edition. Schäffer-Poeschel Verlag, Stuttgart 2010, ISBN 978-3791028088
- Jürgen Bussiek, Harald Ehrmann: Buchführung , 9th edition. Kiel Verlag, Herne 2010, ISBN 978-3470708096
- Michael Griga, Raymund Krauleidis: Creating and reading balance sheets for dummies , 2nd edition, Wiley-VCH Verlag 2010, ISBN 978-3527705986
- Gerhard Scherrer: Accounting according to the new HGB , 3rd edition, Vahlen 2010, ISBN 978-3800637874
- Harald Wedell, Achim A. Dilling: Fundamentals of accounting: bookkeeping and annual accounts. Cost and performance accounting , 13th edition, NWB-Verlag 2010, ISBN 978-3482547836
- Erna Bivetti / Robert Baumann, Accounting , Volume 2, 2011, p. 99
- See Lukas Müller / David P. Henry / Peter Barmettler, commentary on Art. 958 OR, in: Dieter Pfaff / Stephan Glanz / Thomas Stenz / Florian Zihler, accounting according to the Code of Obligations, veb.ch Praxiskommentar, Zurich 2014 .
- See Lukas Müller / David P. Henry / Peter Barmettler, commentary on Art. 958c OR, in: Dieter Pfaff / Stephan Glanz / Thomas Stenz / Florian Zihler, accounting according to the Code of Obligations, veb.ch Praxiskommentar, Zurich 2014 .
- See Lukas Müller / David P. Henry / Peter Barmettler, commentary on Art. 960 OR, in: Dieter Pfaff / Stephan Glanz / Thomas Stenz / Florian Zihler, accounting according to the Code of Obligations, veb.ch Praxiskommentar, Zurich 2014 .