financial reporting
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financial reporting
The process of systematically recording, documenting, and presenting all business transactions of a company. It serves to inform external parties such as investors, creditors, and the tax office.
Große Kapitalgesellschaften unterliegen strengen Vorschriften zur Rechnungslegung.
Large corporations are subject to strict financial reporting regulations.
The word is made up of 'Rechnung' (account/invoice) and 'Legung' (laying). 'Legung' comes from the verb 'legen' (to lay). Literally, it means that one 'gives an account' of business transactions, that is, presents them systematically.
Die externe Rechnungslegung ist für viele Unternehmen gesetzlich vorgeschrieben.
External financial reporting is required by law for many companies.
This noun is often connected with certain standards or laws. Typical formulations are 'Rechnungslegung nach HGB' (financial reporting according to the German Commercial Code) or 'Rechnungslegung nach IFRS' (financial reporting according to International Financial Reporting Standards).
Unser Unternehmen stellt die Rechnungslegung auf internationale Standards um.
Our company is switching its financial reporting to international standards.
'Rechnungslegung' (financial reporting) is a technical term from business administration and tax law. In normal everyday life, this word is hardly used.
Für die Prüfung musste sie die Grundsätze der ordnungsgemäßen Rechnungslegung lernen.
For the exam, she had to learn the principles of proper financial reporting.
accounting
Buchhaltung and Rechnungslegung both relate to financial business transactions. Buchhaltung usually refers to the ongoing practical recording or the responsible department, while Rechnungslegung refers to the broader process in which this information is presented systematically. Use Buchhaltung for the daily work and Rechnungslegung for the formal report.
Die Rechnungslegung stellt die erfassten Geschäftsvorgänge in einem Bericht dar.
The financial report presents the recorded business transactions.
Die Buchhaltung erfasst die neuen Geschäftsvorgänge laufend im System.
The accounting department is continuously recording the new business transactions in the system.
