Information function (accounting)

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The information function in accounting is a function of German accounting and serves the purpose of conveying information.

The information function for the annual financial statements according to the GoB

In the German annual financial statements, the information function is only of secondary importance behind the primary distribution calculation function .

Decoupling thesis

The information function in the annual financial statements is subject to the decoupling thesis ; Due to the application of the principles of proper bookkeeping when preparing the annual financial statements, it is possible that these will no longer be able to draw a precise picture of the company's financial, asset and / or earnings position. Section 264 of the German Commercial Code requires additional information in this case. Thus the communication of information is decoupled and v. a. fulfilled by the appendix, while the main part of the annual financial statements, the balance sheet and the income statement , serve the purpose of the distribution measurement function and the determination of profit entitlement.

Objectives of the information function

In addition to fulfilling the information requirement of Section 264 of the German Commercial Code (HGB) and compensating for the information deficits in the remainder of the annual financial statements by means of the notes, the purpose of the information function is to provide a minimum insight into the company's business to inform the company (self-information) itself and any third party. The company's self-information about internal processes and corporate transactions is primarily the subject of internal accounting .

This minimum insight is limited by Section 286 of the German Commercial Code. Factors that (can) lead to a limitation of the information or the reporting include: a .:

  • Probably the Federal Republic of Germany or one of its countries ( Section 286 (1) HGB)
  • Suitability of the information to "inflict a considerable disadvantage" on the company or a company that owns at least 20% of the shares in the company ( Section 286 (2) HGB)

The information function for the annual financial statements according to IFRS

All commercial companies in Germany have to prepare an annual financial statement according to GoB according to § 242 HGB and the exceptions approved there (in particular § 242 para. 4 HGB) . Accordingly, an IFRS separate financial statement only fulfills a publicity purpose and thus possibly also an information function ( Section 325 (2a) HGB). However, since the GoB are decisive for the distribution measurement function, annual financial statements in accordance with the GoB must be prepared.

The information function in the consolidated financial statements

The consolidated financial statements only have an information function. This information function can be fulfilled either according to the GoB or the IFRS ; In theory, compliance would only be conceivable under IFRS.

Fulfillment of the information function in the consolidated financial statements using the GoB

In the consolidated financial statements of non-capital market-oriented companies , the information function is fulfilled using the GoB.

Fulfill the information function in the consolidated financial statements using IFRS

The IFRS in accordance with Regulation no. 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (so-called. IAS Regulation) for publicly traded companies significantly, so this must necessarily prepare consolidated financial statements under IFRS. Here the information function is fulfilled with the help of IFRS.

Companies that are not capital market oriented have an option under Section 315a (3) HGB. You can then choose between consolidated financial statements according to GoB or IFRS. The choice of IFRS releases the non-capital market oriented company from the obligation to apply the GoB to the consolidated financial statements.