The switch from ifrs to swiss gaap fer has necessitated. When you are applying swiss gaap fer for the first time, after switching from swiss code of obligations accounting or moving from ifrs, a number of considerations need. Ifrs is used in more than 110 countries around the world, including the eu and many asian and south american countries. Gaap, on the other hand, is only used in the united states. Swiss gaap fer 10 intangible assets swiss gaap fer. The swiss accounting and reporting recommendations for charitable, social, nonprofit organisations swiss gaap fer 21 state that a performance report is an integral part of the annual accounts. Swiss gaap fer 21, clauses 42 and 43 present the minimum requirements for a performance report as follows. Fw8, 312 3 an organisation adopting core fer or swiss gaap fer as a whole for the first time, or converting from core fer to swiss gaap fer as a whole is required to present the prioryear balance sheet in compliance with the new regulations. Grundlagen zu swiss gaap fer zurich open repository and archive.
The brochure contains detailed information on the fer 31 standards, providing illustrative examples and application guidance. Offene fragen in swiss gaap fer 30 in ihrer medienmitteilung vom 5. Swiss prime site reported its results according to swiss gaap fer accounting standards for the first time in the current halfyear 2017 period ifrs to 31 december 2016. Swiss prime site reports successful performance for 2017. Swiss gaap fer traduzione in italiano dizionario linguee. Compliance with arr fer is required by all companies. Financial report 2018 short version by swisscontact issuu.
This article compares the current swiss accounting regulation to the new eu accounting directive and to ifrs. Swiss gaap fer is a recognised financial reporting standard in switzerland according to art. Financial reporting by listed companies spotlight on swiss trends. The traf abolishes privileged tax status and introduces new tax measures by 2020. Moreover the definition of the funding ratio was stipulated in the. You can use the attached voucher code to download the digital version of the title in pdf format free of. Ifrs, ifrs for smes, ipsas, swiss gaap fer, us gaap and finma regulations. Swiss gaap fer governs aspects of accounting and reporting and is geared toward providing a true. Gaap is established by the financial accounting standards board fasb. The digital version is also available separately isbn 9783286106451. Daniele dell aglio, abraham bernstein, differentially private stream processing for the semantic web, in. They add another application case to the modular design of swiss gaap fer, that is, listed companies. May 20, 2019 financial report 2018 short version basic information the annual financial statement has been prepared in accordance with the swiss gaap fer 21 financial reporting guidelines for charitable and.
Preparation of the consolidated financial statements has been carried out in accordance with swiss gaap fer since the beginning of 2017. Conversion to ifrs, swiss gaap fer or us gaap ey switzerland. Disclosure checklist in accordance with the swiss accounting. Solvency requirements for swiss pension funds and how to. Swiss gaap fer 10 immaterielle werte 28 swiss gaap fer 11 ertragssteuern 31 swiss gaap fer leasinggeschafte 33 swiss gaap fer 15 transaktionen mit nahe stehenden personen 34 swiss gaap fer 16 vorsorgeverpflichtungen 36 swiss gaap fer 17 vorrate 40 swiss gaap fer 18 sachanlagen 43. Stiftung swiss gaap fer traffic statistics hypestat.
The consolidated financial statements are based on the annual accounts of the group companies for the year ending 31 december 2017, prepared on a uniform basis. The organization prepares its annual financial statement in accordance with swiss gaap fer accounting standards and applies swiss gaap fer 21 accounting for charitable nonprofit organizations. Surpluses or deficits are determined by means of the annual statements of each specific benefit plan, which are based either on swiss gaap fer 26 swiss benefit plans or on the accepted methods in. Swiss gaap fer 10 27 except 12, 14, 21 and 26 questions 79 to 161 this section must be applied if the company exceeds the size criteria defined in swiss. Core fer swiss gaap fer 5 offbalancesheet transactions core fer swiss gaap fer 6 notes further swiss gaap fer swiss gaap fer 10. Cerca parole e frasi nei nostri dizionari bilingue completi e affidabili o consulta miliardi di traduzioni online. Moltissimi esempi di frasi con swiss gaap fer dizionario italianoinglese e motore di ricerca per milioni di traduzioni in italiano.
The effect of implementing accounting standards on swiss. This publication is designed to alert companies, investors, and other capital market participants to the major differences between ifrs and us gaap as they exist today, and to the timing. The swiss federal council enacted a new accounting law effective as of 1 january 20 and impacting financial reporting under swiss law. Compliance with arrfer is required by all companies. The swiss gaap fer 2019 checklist shall support in preparing financial statements under swiss gaap fer. This swiss gaap fer 2019 checklist covers the latest published amendments and new standards as per 30 september 2019. The target audience of the accounting and reporting standards of the swiss gaap fer are small and mediumsized organisations as well as groups of organisations with a presence in switzerland. Conference or workshop paper published in proceedings. Moreover ifrs served as a benchmark for the development of swiss gaap. Company reports pro forma group key figures without tertianum group 105 kb. Fiveyear summary of key figures annual report 2017. A major reform on corporate tax in switzerland approved today, the swiss people approved by 66. Swiss gaap fer 31 erganzende fachempfehlung fur kotierte. The fer 31 regulations have also been included in the checklist.
Contributions in merlin welcome to merlin the oec faculty. Images, videos and audio are available under their respective licenses. Swiss gaap fer 31 swiss gaap fer 31 the additional accounting and reporting recommendations for listed companies swiss gaap fer 31 were implemented on 1 january 2015. In addition, fer 30 and fer 31 apply to groups and listed companies. In this context, we would like to draw your attention to a separate publication on swiss gaap fer 31. The performance report provides information about the effectiveness and. The swiss foundation for accounting and reporting publishes accounting standards arrfer, oy wr swiss gaap. Intangible assets generated internally can only be recognised as an asset if they meet four conditions at the time of the initial recognition. The previous years figures were adjusted accordingly restatement. The swiss foundation for accounting and reporting publishes accounting standards arr fer, oy wr swiss gaap. The switch from ifrs to swiss gaap fer has necessitated adjustments to the from finance 432423 at bern university of applied sciences. Site is hosted in switzerland and links to network ip address 94.
Swiss gaap fer 9th edition, as per 1 january 2020 kpmg. Contributions in merlin the oec faculty information system. The 2019 edition includes a new chapter describing the major differences between the new leases standards, asc 842 and ifrs 16. The role and current status of ifrs in the completion of. Nonprofit organisations, pension funds and insurance companies are provided with a suitable framework for meaningful reporting. Swiss gaap fer 5 45 offbalancesheet transactions swiss gaap fer 6 47 notes swiss gaap fer 10 49 intangible assets swiss gaap fer 11 53 income taxes swiss gaap fer 57 leases swiss gaap fer 14 59 consolidated financial statements of insurance. It makes reference to paragraphs in ifrs and swiss gaap fer whose.
Although ifrs has been well established in switzerland and the eu for many years, there are still lots of reasons for gaap conversions. When you are applying swiss gaap fer for the first time, after switching from swiss code of obligations accounting or moving from ifrs, a number of considerations need to be borne in mind from an early stage. Grundlagen zu swiss gaap fer zurich open repository and. Mar, 2017 moreover ifrs served as a benchmark for the development of swiss gaap. The group prepares its accounts in compliance with all existing guidelines of swiss gaap fer swiss accounting and reporting recommendations and the provisions of swiss law. Switzerland is not a member of the european union and, therefore, is not subject to the eu ias regulation or accounting directives. Swiss gaap fer 10 intangible assets regulates the treatment of intangible assets. The discount rate for swiss gaap fer 26 purposes is calculated on the basis of the technical reference interest rate, which represents the average of the performance of the bvgindices 2005 pictet bvg25 plus for the last 20 years and the yield on 10 year swiss confederation bonds. For listed public companies listed equity andor debt instruments, the. Accounting and reporting recommendations swiss gaap fer. The web conference 2020, acm, new york, ny, usa, 2020. Kpmg swiss gaap fer 201011 by reto eberle and jeanmarc huber download pdf 560 kb. Although ifrs has been well established in switzerland and the eu for many years, there.
The economic impact of the employee benefit plans is assessed each year. Swiss gaap fer issued by the foundation for accounting. Jan 01, 2007 swiss gaap fer 10 intangible assets regulates the treatment of intangible assets. Financial reporting by listed companies spotlight on swiss. Operating income in 2017, swiss prime site increased its operating income by 10. The reform updates the accounting provisions and restructures the legislation to apply to companies. Acquired intangible assets are to be recognised if they yield measurable economic benefit for the organisation over several years. Further this paper documents an interesting discussion with additional regression variables for risk and size. To ensure comparability, all 2016 figures have been restated according to swiss gaap fer. Lets look at the 10 biggest differences between ifrs and gaap accounting. Fundraising and general advertising expenses as well as administrative expenses are calculated and reported using the methods published by zewo.