Financial Statement Preparation Services
Preparing accurate statutory financial statements is a key requirement for companies operating in Germany. We provide professional support in the preparation of financial statements in full compliance with the German Commercial Code (Handelsgesetzbuch – HGB), ensuring that your reporting obligations are met clearly and accurately.
We support both local and international businesses operating in Germany with reliable financial reporting aligned with German accounting regulations.
Preparation of Statutory Financial Statements (HGB)
We prepare statutory financial statements in accordance with the requirements of the German Commercial Code (HGB). This includes:
- Balance sheets
- Profit and loss statements
- Notes to the financial statements
- Fixed asset registers
- Management reports (where required)
- Supporting financial documentation
Where an audit is required, this must be conducted by an independent auditor. We coordinate closely with external auditors to ensure a smooth and efficient process.
Our team ensures that all financial statements are prepared accurately and in compliance with applicable accounting standards, providing transparency and reliability for stakeholders and regulatory authorities.
Tax Balance Sheet Preparation
In addition to commercial financial reporting, companies in Germany are often required to prepare tax balance sheets that align with their tax reporting obligations.
We assist businesses in preparing tax balance sheets and ensuring consistency between commercial and tax reporting. This helps avoid discrepancies and supports clear communication with the German tax authorities.
Publication in the Company Register
Certain entities, including GmbH, UG, AG and GmbH & Co. KG structures, are required to publish their annual financial statements in the German company register within 12 months of the end of the financial year.
Failure to comply with publication requirements may result in fines imposed by the Federal Office of Justice.
We support our clients with the preparation and submission of financial statements for publication, either as part of our financial statement services or as a standalone engagement.
Conversion from IFRS or US GAAP to German GAAP
Many international companies maintain accounting records based on international standards such as IFRS or US GAAP. When operating in Germany, these companies must often convert their financial data into German GAAP (HGB) for statutory reporting purposes.
We support businesses in preparing German statutory financial statements based on existing accounts prepared under IFRS or US GAAP. Our experience with international accounting frameworks ensures that reporting transitions are handled accurately and efficiently.
Support for International Companies
International businesses operating in Germany often face additional complexity when aligning local financial structures with global corporate strategies. We work with multinational companies to ensure that financing strategies, reporting structures and financial planning align with both German regulatory requirements and international group standards.
Our team can provide support locally in Munich as well as remotely for companies operating across Germany.
Frequently Asked Questions
What are statutory financial statements in Germany?
Statutory financial statements are annual financial reports that companies in Germany must prepare under the German Commercial Code (HGB), typically including a balance sheet, profit and loss statement and notes.
Do international companies need German financial statements?
Yes. Businesses operating in Germany are generally required to prepare financial statements under German accounting §264 HGB rules, even if their group reporting follows IFRS or US GAAP.
Can financial statements be converted from IFRS or US GAAP to German GAAP?
Yes. Financial records prepared under international accounting standards can be converted into German GAAP (HGB) for statutory reporting purposes.
Can you support international companies with financial reporting in Germany?
Yes. We assist both German and international subsidiaries and branches operating in Munich and across Germany with compliant financial statement preparation.
Which deadlines have to be considered
The publishing of the statutory FS has to be submitted to the company register within 12 months after year end .