Fundamentals of German Accounting and Bookkeeping

Revision sheet excerpt

Course Outline

  1. Types of Traders
  2. Bookkeeping Obligations
  3. Account Structures
  4. Double Entry System
  5. Business Year Cycle
  6. Success and Balance
  7. Success Calculation Methods
  8. Financial Statements
  9. Accounting Books
  10. Error Correction in Accounts
  11. Personnel Expenses Components
  12. Tax and Social Contributions

1. Types of Traders

Key Concepts & Definitions

  • Istkaufmann: A person who operates a commercial business that requires a commercially organized business operation, regardless of legal form or registration. This includes businesses that are not necessarily large but meet the criteria of a trade (source: B&A(1)).
  • Kannkaufmann: Small businesses that do not constitute a commercial trade by nature (e.g., very small craft businesses). They can become merchants voluntarily by registering in the Handelsregister (source: B&A(1)).
  • Formkaufmann: Merchant status that arises solely from the legal form of the entity, such as GmbH or AG. Their merchant status is independent of actual trading activity and is established upon registration in the Handelsregister (source: B&A(1)).

Essential Points

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Quiz preview

1. What is a Formkaufmann in the context of German commercial law?

2. What is an Istkaufmann according to German commercial law?

3. According to the German Commercial Code (HGB), what are the specific turnover and profit thresholds that, if not exceeded for two consecutive years, exempt small sole traders from the bookkeeping obligation?

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Flashcards preview

Types of Traders — definition?

Categories of merchants based on activity, registration, or legal form.

Istkaufmann — definition?

Operates a trade requiring organized business.

Bookkeeping obligation — exemption?

Exempt if turnover <600,000 EUR and profit <60,000 EUR for 2 years.

Kannkaufmann — status?

Small trader, optional registration.

Formkaufmann — source?

Legal form, e.g., GmbH.

Bookkeeping obligation — law?

Required under HGB §238 Abs. 1.

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The revision sheet covers the essential concepts of Fundamentals of German Accounting and Bookkeeping. It is organized by topic to facilitate learning and memorization, with key definitions, explanations and summaries.

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The quiz contains 6 multiple-choice questions with detailed corrections and explanations for each answer. Ideal for testing your knowledge and identifying gaps.

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