Erosion handelsrechtlicher GoB durch das Bilanzrechtsmodernisierungsgesetz

The Accounting Law Modernization Act (BilMoG) aims at harmonizing two basic attitudes that are irreconcilable in the first place: On the one hand the local German GAAP, which are driven by creditor protection, the principle of prudence as well as objective limitations; on the other hand international accounting standards (IFRS), which focus on information tasks. The option to capitalise certain intangible fixed assets that have not been acquired from a third party, leads to a de-objectification of the balance sheet that has to be rejected as being too hazardous. Furthermore, the introduction of fair-value accounting for financial instruments acquired for trading purposes has to be rejected due to a breach of the realisation principle. The primary legal purpose of the balance sheet, the prudent determination of distributable profits on the basis of turnover, would be jeopardized. The desire for information on investment in intangible assets as well as the (alleged) increase in value of financial instruments should rather be displayed in the notes to the financial statements.