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CAFM-Blog.de | Accounting Methods: A Guide

Accounting Methods: A Guide

Accounting is a central element of financial accounting and plays a crucial role in a company's financial reporting. It allows for the presentation of a company's assets, financial position, and earnings situation at a specific point in time. The choice of accounting method has far-reaching effects on the presentation of a company's financial situation and can thus also influence the decisions of investors, creditors, and other stakeholders. In practice, there are various

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CAFM-Blog.de | The 10 most common bookkeeping errors and how to avoid them

The 10 most common bookkeeping errors and how to avoid them

Bookkeeping is the backbone of every company, regardless of its size or industry. It not only allows for the recording of all financial transactions but also ensures that you meet your tax obligations and that strategic decisions are based on sound data. According to a survey by the Federal Association of Tax Advisors, over 40% of companies state that they have already suffered significant financial disadvantages due to errors in bookkeeping. But despite

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CAFM-Blog.de | VAT Liability for Electronic Services: What does §2b UStG mean

VAT Liability for Electronic Services: What §2b UStG Means

The VAT liability for electronic services according to § 2b UStG is a central regulation in German tax law. It defines the tax obligations for companies that provide electronic services. Electronic services are understood as digital products and services that are provided via electronic networks. This regulation has far-reaching effects on the tax treatment of companies in the digital sector. § 2b UStG specifically regulates the VAT liability for legal entities under public law that

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CAFM-Blog.de | What You Need to Know About Trade Tax

What you need to know about trade tax

Trade tax is a municipal tax levied by companies and self-employed individuals on their trade earnings. It represents a significant source of income for municipalities and serves to finance local infrastructure and public services. The calculation is based on trade earnings, which are derived from company profits. The trade tax rate is set individually by each municipality and usually varies between 200% and 500%. As a municipal tax, the assessment and collection of trade tax

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CAFM-Blog.de | Real Estate Profit Center Accounting and Economic Efficiency in FM

Real estate profit center accounting and economic efficiency in FM

The real estate profit center accounting is a central instrument in facility management for evaluating the profitability of real estate. It enables a transparent presentation of costs and revenues of a property, which facilitates well-founded decisions. The calculation considers various types of costs, including maintenance, operating, administrative, and financing costs. These are contrasted with revenues from rental income, ancillary cost settlements, and other sources. As a controlling instrument, real estate profit center accounting serves to analyze and optimize the profitability of real estate. In an environment of increasing

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CAFM-Blog.de | Facility Management 4.0: Digital Transformation in Building Management

Value Added Tax: Everything You Need to Know

Value Added Tax (VAT), also known as Umsatzsteuer, is an important tax in Germany. It affects both businesses and consumers and plays a crucial role in the German tax system. It is therefore of great importance to understand VAT and its effects on business and transactions. Key Takeaways VAT is a tax on the turnover of companies. Every company that sells goods or services is subject to

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CAFM-Blog.de | TEMU: Bargains or expensive plastic waste?

TEMU: Bargains or expensive plastic waste?

In the digital shopping world, TEMU has established itself as a popular platform, but the debate about its business models remains controversial. Many consumers are tempted by the low prices and the seemingly endless offers in the TEMU online shop, while others wonder if these savings come at the expense of quality and ethical standards. Some important aspects to consider in this discussion are: Pricing: How can TEMU offer such affordable products? Where

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CAFM-Blog.de | Accounting for Small Businesses: What Do I Need to Consider in 2024?

Bookkeeping for Small Business Owners: What Do I Need to Consider in 2024?

Accounting is of great importance for small business owners, as it helps them keep an eye on their financial situation and manage their business effectively. In this blog post, we will cover the various aspects of accounting for small businesses and provide tips on how to organize it efficiently. Key Takeaways Bookkeeping is legally required for small business owners. Small business owners can choose between income-expense accounting and balance sheet accounting. Small business owners must keep certain documents.

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CAFM-Blog.de | Accounting: The Most Important Information for Legally Compliant Accounting [Update!]

The Importance of Setting Targets in Accounting: Everything You Need to Know

In accounting, accrual plays an important role. It is an essential part of accounting and serves to record and monitor a company's financial situation. In this article, we will take a closer look at accrual, explain its importance in accounting, and outline the process of its creation. What is accrual in accounting? Accrual is an important statement in a company's accounting.

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