Corporate Financial Reporting in Austria : An Overview

The purpose of this report on corporate financial reporting in Austria is to describe the key features of Austria’s corporate financial reporting environment as well as its practical application in regard to small and medium enterprises (SMEs’) fin...

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Bibliographic Details
Main Author:	Lindner, Bernhard
Format:	Report
Language:	English en_US
Published:	World Bank, Vienna 2016
Subjects:	INTERNATIONAL ACCOUNTING STANDARDS ACCOUNTING PRINCIPLES GOOD PRACTICE EMPLOYMENT DEFICIT REGULATORY FRAMEWORK LIABILITY REFERENDUMS EFFICIENT MARKETS EQUIPMENT ACCOUNTING INTANGIBLE ASSETS ACCOUNTING PRACTICES BUSINESS COMMUNITY FINANCIAL MANAGEMENT STOCK PRINCIPAL SUPERVISORY AUTHORITY SALES INTEREST GOVERNMENT DEFICIT LAWS INDUSTRY BUSINESS ADMINISTRATION SUPERVISORY BOARD WATER SUPPLY SERVICES TAX COLLECTION ACCESS TO BANK FINANCIAL STATEMENTS INCOME STATEMENTS FINANCIAL STATEMENT TAX OWNERSHIP PLANNING QUALITY REPORTING INSTRUMENTS AUDITS COST ACCOUNTING EXTERNAL FINANCE ACCOUNTING REFORM SAVINGS PENALTIES CURRENCY LEGAL PROVISIONS TRANSPORT FINANCIAL DATA OESTERREICHISCHE NATIONALBANK TRADING PUBLIC ACCOUNTANTS CURRENT ASSETS BUSINESS COMMUNITIES ACCOUNTING RULES CRITERIA AUDIT RISK FINANCIAL INSTITUTIONS MARKETS FINANCIAL REPORTING LEGISLATION STATUTORY AUDITORS LOANS LABOR ENTERPRISES GROSS DOMESTIC PRODUCT INVENTORY SUBSTITUTES ACCOUNT LEGAL FRAMEWORK BANK FINANCING FINANCE BANKS RESOURCES INTERNATIONAL STANDARDS EQUITY GOODWILL GAAP INVESTORS AUDITED FINANCIAL STATEMENTS GOOD ACCOUNTANTS AUDITORS EXPENSES FINANCIAL STABILITY LLC TURNOVER VALUE BANK CREDIT ACCOUNTING METHODS ACCOUNTANCY PEER REVIEW PUBLIC ACCOUNTING FINANCIAL PERFORMANCE SUPERVISORY BOARDS INTERNAL CONTROLS COST FISCAL YEAR BALANCE SHEET QUALITY ASSESSMENT MARKET FINANCIAL REPORTING STANDARDS FOREIGN EXCHANGE MARKET VALUE QUALITY CONTROL MARKET CONFIDENCE CONSOLIDATED FINANCIAL STATEMENTS ADMINISTRATION PROFITABILITY GOVERNANCE INSURANCE BOOKKEEPING PAYROLL LAND LEGAL SYSTEM ACCOUNTING STANDARDS NATIONAL BANK BUSINESS RISK SUBVENTIONS COMMERCIAL BANKS AUDIT EVIDENCE AUSTRIAN NATIONAL BANK FINANCIAL INFORMATION COOPERATIVES REVENUE RISK MANAGEMENT ACCOUNTS LENDING QUALITY ASSURANCE SAVINGS BANKS AUDIT AUDITING STANDARDS FINANCIAL ACCOUNTING CUSTOMERS LIMITED LIABILITY AUDITING PROFESSION ACCOUNTING RECORDS CERTIFIED PUBLIC ACCOUNTANTS IMPLEMENTATION AUDITING FINANCIAL REPORTS CONSOLIDATION
Online Access:	http://documents.worldbank.org/curated/en/2016/05/26403982/corporate-financial-reporting-austria-overview http://hdl.handle.net/10986/24463

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Summary:	The purpose of this report on corporate financial reporting in Austria is to describe the key features of Austria’s corporate financial reporting environment as well as its practical application in regard to small and medium enterprises (SMEs’) financial reporting practices in Austria. This report builds on the World Bank accounting and auditing reports on standards and codes (ROSC) methodology to give an overview of the Austrian corporate financial reporting system. It selectively provides good practice examples that can give incentives to overcome impediments to financial reporting reform. Based on the findings of two surveys conducted among Austrian SMEs and Austrian financial institutions, the report focuses particularly on aspects relevant to SME financial reporting. This report forms part of the activities of the center for financial reporting reform (CFRR) within the road to Europe program of accounting reform and institutional strengthening (REPARIS), which also provided funding.

Corporate Financial Reporting in Austria : An Overview

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