16. October 2018
The Federal Ministry of Justice and Consumer Protection published the German Accounting Standards No. 26 Associates and No. 27 Proportionate Consolidation in the authoritative German version pursuant to § 342 (2) HGB in the Official Gazette “Bundesanzeiger” on 16 October 2018.
GAS 26 Associates aims to set out detailed guidance on the accounting for associates and the application of the equity method, as outlined in sections 311 and 312 of the HGB.
GAS 27 Proporti0nate Consolidation sets out in greater detail the requirements of section 310 of the HGB concerning proportionate consolidation, which govern the inclusion of a joint venture in the consolidated financial statements. It also specifies the criteria for the existence of a joint venture, which is a condition for exercising the option to apply proportionate consolidation.