Accounting (bookkeeping and preparation of accounts)

Here, we supply you with an overview of our range of business activities concerning bookkeeping and the preparation of accounts. For further information, you may click on the following items:

Financial accounting

Financial accounting

Every business transaction taking place in one financial year has to be documented. This requires bookkeeping in a way that not only shows the business assets at the beginning of a financial year, but which also includes all changes happening during the accounting year by day-to-day booking. Thus, accounting is an essential means to determine the success of the business.

In consideration of these legal requirements and our clients’ needs, our services include in detail:

  • a complete service in the area of OUTSOURCING of commercial duties and responsibilities, e.g. establishment of bookkeeping, assigning and booking of receipts (collection of receipts)
  • preparation of an accounts structure, keeping of lists of sums and balances and its control
  • handling of all bookkeeping activities: FIBU, OPOS, BWA and LOHN
  • preparation of the information of the voucher accounting for the dunning process
  • preparation of all documentation for tax authorities and social insurance agencies (e.g. advance return for tax on sales, notification of the Federal Department of Finances)
  • special bookkeeping solutions (e.g. for doctors, industrial firms, communal establishments, car dealerships, travel agencies and societies)
  • organisation and development of classification systems in preparation of an asset ratio test, e.g. ratings
  • controlling in the context of the preparation of the financial accounting (controlling of finances and costs, controlling of net current assets)
  • verification of truth and fairness of external accounting systems
  • analysis of the accounting with regard to informational value for decisions of the management
  • cost accounting
  • implementation of cost accounting systems, e.g. for the calculation of prices as well as the calculation of the profit margin and the determination of the price floor
  • support with business-management analysis and cost accounting according to individual requirements to support the management and counsel on lowering taxes
  • Handling of all bookkeeping in German, English and French
Payroll accounting

Payroll accounting

In the daily practice of payroll accounting, businesses and employers have to adhere to a number of changes of laws and administrative regulations. With the abolishment of tax exemptions, important changes, which have to be observed in the payroll accounting starting January 1st, 2006, are coming into effect. In addition, the jurisdiction entails important changes.

As a team of tax consultants, accountants, business economists and attorneys, MerzArnoldWüpper presents you with an experienced, competent team. In the consultancy of our clients, we provide you with a comprehensive service, from consulting to preparing and keeping the payroll accounts.

Our services in the context of payroll accounting for you include the following:

  • day-to-day payroll accounting according to the legal and contractual requirements and collective labor agreements
  • preparation of the monthly payroll- and salary accounting
  • special payroll accounting, e.g. for public service
  • wage tax returns and statements of contributions paid for health insurance funds
  • supervision of membership-fees and preparation of remittance slips, checks, lists for cash payments or data for electronic payment transactions
  • assistance for the necessary documentation within the payroll accounting
  • preparation of all certifications in connection with your position as employer
  • support for the annual adjustment of wage tax
  • answers to your questions regarding social insurance (e.g. limit of dues, terms for low wage jobs, limitations on yearly salaries)
  • establishment, supervision and guidance of your internal payroll accounting
  • individual arrangement of work between your office and our chambers
  • explanation of your duties of documentation
  • procedure for reimbursement (e.g. benefits from maternity leave)
  • notice to social insurance agencies (e.g. health insurance companies, professional organizations, federal insurance for employees)
  • support with the handling of applications and certifications
  • assessment of employment contracts under taxation aspects
  • accompaniment of field audit by the tax authorities and the social insurance agencies
Annual financial statements and determination of taxable income

Annual financial statements and determination of taxable income

The balance sheet contains information on the composition of the assets and the capital of a company. From the balance sheet, a complete, concise and consistent compilation has to arise. The Law of Trades (Handelsgesetzbuch, HGB) contains a number of regulations concerning form and content of the financial statement, which correspondingly apply to those responsible for preparing a balance sheet according to § 141 of the General Fiscal Law (Abgabenordnung, AO).

As a team of tax consultants, accountants, business economists and attorneys, MerzArnoldWüpper presents you with an experienced, competent team. Our services in the context of payroll accounting for you include the following:

  • Preparation of annual financial statements according to trade- and tax law regulations based on the financial accounting we provide or you furnish, if desired, including the revision of the posting procedures
  • Preparation of annual financial statement for companies and organisations of all legal forms
  • Preparation of reports of balance sheets for individual enterprises, partnerships and corporations
  • Preparation of annual financial statements and specific closing accounts for internationally operating firms
  • Preparation of opening balance sheets, interim balance sheets and validity checks for the preparation of annual financial statements
  • Preparation of special purpose balance sheets and supplementary tax balance sheets (e.g. formation balance sheets, conversion balance sheet, balance sheets for settlement purposes, merger balance sheets, recapitalization balance sheet, liquidation balance sheet, and statements of bankrupt’s assets and liabilities and balance sheet comparison)
  • Preparation of special purpose balance sheets for tax reasons (e.g. declaration of special business property of co-entrepreneurs, e.g. the real estate owned solely by the partner)
  • Preparation of statement of assets
  • Advisory participation in preparation of annual financial statements and special purpose financial statements concerning reporting as well as with internationally operating firms
  • Strategy consulting in the light of accounting policy
  • Organisation of a company general meeting for the purposes of decision-making concerning the annual financial statements and meetings about balance sheets
  • Preparation of annual financial statements in German, English and French
  • Consultancy to the duties concerning the disclosure requirements
  • Preparation of public balance sheets and other documents with statutory disclosure requirements
Annual financial statements by international standards and consolidated accounts

Annual financial statements by international standards and consolidated accounts (consolidated financial statements) based on IFRS/IAS

The IFRS are regulations on accounting standards, passed by the IASB.

The IFRS gained relevance in Germany because of EU-regulation No. 1606/2002. With the subsequent Reform of the Law on Accounting (Bilanzrechtsreformgesetz, BilReG), the legislator has already partially transformed the EU-regulation in national statutes.

According to the law, all companies oriented on the capital market are bound to draw up their firm’s annual financial statement for all years beginning after December 31, 2004, in accordance with the IFRS. For certain companies, a transitional period is allotted until 2007 (Article 57 EGHGB).

In consideration of the growing importance of international accounting standards, our services provide in detail:

  • preparation of annual financial statements according to IAS/IFRS
  • conception of a project schedule for a transition to IAS/IFRS based on the identified differences
  • support of the project and organisation before and during the transition
  • determination of the best point of time for the transition and support of the internal and external communication
  • support of the transition of the accounting to IAS/IFRS
  • drafting of the essential field of work and the essential differences between the currently used accounting standards and the IAS/IFRS
  • statements to specific questions about the international accounting standards
  • analysis of the essential business procedures and the internal and external accountancy
  • improvement of the procedure for preparing an annual financial statement, respectively a consolidated account, using IAS/IFRS
  • development of a new regulation for making up the balances, of new reporting-tools and account systems, as well as of new structures for reporting