Discount
Under a Skontration (of skontrieren ) generally refers to the constant investigation and the written detention of a new portfolio by offsetting the inflows and outflows.
Law of Obligations: Offsetting as a substitute for performance
In the law of obligations under civil law and in commercial law , discounting refers to a special form of reciprocal settlement of claims between three or more contractual partners . This distinguishes the discount from simple offsetting (mutual mutual offsetting of claims between two parties, also called "offsetting contract") and offsetting (unilateral offsetting ) with a due asset claim against a satisfactory liability claim of the business partner ( § 387 BGB ).
The Federal Court of Justice has recognized the discount rate in several decisions on the conventional settlement of the Bundesbank as a fulfillment surrogate effective under civil law. A standardization in the Commercial Code (HGB) was simply omitted as obsolete. The discount as a legal figure was of great importance for the time before the unification of the Reich (and the accompanying introduction of the Reich currency) for the "cashless" processing of sales in countless different currencies on German soil. From 1871 their importance in economic life was limited to the clearing houses of the Reichsbank . Nevertheless, the discount is still available and recognized in German law.
In legal contract practice outside of the banking and stock exchange sector, discounting has become rare. You can still find them, for example, in the area of private building land reallocation, when the owners of the original plots bring their respective areas into a redistribution mass and only offset the fractional amounts in cash.
Accounting
In the bookkeeping sense, discounting (modern: settling via current account, or New English clearing , netting ) is the continuous recording of incoming and outgoing mutual receivables / liabilities in various sub-ledgers (auxiliary books) of the bookkeeping; these subsidiary ledgers are also referred to as order books (singular: order books ). The term is used in the broadest sense in current account transactions between banks, usually not in the relationship between a financial institution and its customers (typically consumers).
The interbank discount accounts are called nostro accounts or vostro accounts, depending on the account management .
The offsetting of mutual claims and liabilities in billing transactions means that only the resulting fractional amounts have to be balanced.
Cost accounting
The discount procedure is a cost accounting procedure. This process is used to evaluate the inventory. This evaluation is used to systematize and break down costs within the scope of cost type accounting.
The discounting procedure (= moving average procedure) works in such a way that after each receipt of goods, the stock that has accumulated up to that point (in terms of value) is divided by the total available quantity. The next outflow is multiplied by exactly this consumption price and gives the monetary average value of the respective outflow.
Individual evidence
- ↑ BGH WM 1972 p. 1319; WM 1987 p. 400
literature
- Günter Söffing , Die Skontration , 1953, dissertation: Kiel, Rechts- u. state science F., Diss. V. Sept 2, 1953
