“IFRS vs HGB”

The Dual Masterclass: IFRS & HGB in full depth

Introduction

1 Welcome to Newmensch.org

2 Course structure

3 How to use this course

4 Why Understanding Both Systems Matters

IFRS vs HGB – The big picture

1 The purpose of financial reporting standards

2 A short history of IFRS and HGB

3 Conceptual Framework and Accounting Principles IFRS vs HGB

4 Recognition and Measurement differences IFRS vs HGB

5 The structure of IFRS vs HGB

Financial Statements: Structure and Components

1 Components of Financial Statements IFRS vs HGB

2 Differences in Balance Sheet Presentation IFRS vs HGB

3 Income Statement: Comprehensive Income vs. Standard Format IFRS vs HGB

4 Role of Notes and Disclosures IFRS vs HGB

5 Management Reports: Mandatory (HGB) vs. Optional (IFRS) IFRS vs HGB

6 Examples

Revenue Recognition

1 The Five-Step Model in IFRS 15

2 Revenue Recognition under HGB

3 Prudence and Realization Principles in Revenue

4 Long-Term Contracts and Project-Based Revenue

5 Case Studies: Revenue Recognition Differences

Assets: Recognition and Measurement

1 Valuation Models: Cost vs. Fair Value

2 Intangible Assets under HGB and IFRS

3 Revaluation of Property, Plant, and Equipment

4 Inventory Valuation: FIFO, LIFO, Weighted Average

5 Impairments and Write-Downs

Liabilities and Provisions

1 Recognition of Liabilities in HGB and IFRS

2 Provisions: Thresholds and Probabilities

3 Contingent Liabilities and Their Treatment

4 Pension Provisions and Long-Term Obligations

5 Practical Examples and Analysis

Equity and Financial Instruments

1 Components of Equity in HGB and IFRS

2 Share-Based Payments and Employee Benefits

3 IFRS 9: Financial Instruments Overview

4 Equity vs. Liability Classification

5 Dividend and Retained Earnings Treatment

Deferred Taxes

1 Deferred Taxes: Definition and Recognition

2 Measurement of Deferred Tax Assets and Liabilities

3 Impact of Tax Accounting on Financial Reporting

4 Key Differences in HGB and IFRS Deferred Tax Rules

5 Practical Scenarios of Deferred Tax Applications

Business Combinations

1 Acquisition Method (IFRS 3) vs. Alternatives in HGB

2 Goodwill Recognition and Impairment

3 Treatment of Negative Goodwill

4 Consolidation Adjustments in Business Combinations

5 Case Studies on Mergers and Acquisitions

Foreign Currency Translation

1 Principles of Foreign Currency Transactions

2 Functional vs. Presentation Currency in IFRS

3 Exchange Rate Adjustments in HGB

4 Consolidated Financial Statements for Foreign Subsidiaries

5 Practical Challenges and Examples

Consolidated Financial Statements

1 Scope of Consolidation: HGB and IFRS

2 Treatment of Special Purpose Entities (SPEs)

3 Adjustments for Intra-Group Transactions

4 Exemptions and Exclusions in Consolidation

5 Practical Implications of Consolidation Differences

Final Comparison and Practical Implications

1 Summary of Key Differences between HGB and IFRS

2 Challenges in Transitioning from HGB to IFRS

3 Case Studies of Multinational Financial Reporting

4 Strategic Decisions Based on Reporting Standards

5 The Future of Financial Reporting and Global Convergence