Flashcard: Fundamentals of German Accounting and Bookkeeping — 9 carte

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.

Small trader exemption — criteria?

Turnover <600,000€, profit <60,000€.

Account structures — purpose?

Organize financial information clearly.

Double entry system — function?

Ensures balanced financial records.