Accounting

The appendix to the annual financial statement is newly regulated by Art. 959c OR and now contains more detailed information such as explanations of the balance sheet and income statement. Sole proprietorships and partnerships may waive the appendix under certain conditions.

In accounting, success accounts are divided into expense and revenue accounts, without an opening balance. Annually, all expenses and revenues are recorded there and then reset to zero.

The Equity account shows the company's debts to the business owner and changes through profits, losses, or private deposits. The Private account records the owner's private transactions and is transferred annually to equity.

Accounting according to Art. 957 ff. of the Swiss Code of Obligations includes principles such as clarity, completeness, and conservative accounting. The accounting must be adapted to company-specific characteristics and balance sheets must be retained for 10 years.

Value adjustments adjust book values of tangible assets and receivables to reflect actual depreciation; they adhere to the principle of accounting truth. Distinctions are made between straight-line and declining balance depreciation methods as well as special accounts for unreal receivables losses.

Accounting informs about the financial situation of a company and assists with tax calculations and pricing. It follows the principles of truth, clarity, and continuity.

AGs, GmbHs, and cooperatives may waive the limited audit with the consent of all partners if they have no more than 10 full-time positions. The waiver applies to the following years but can be revoked before the general meeting.

The limited audit is designed for SMEs that do not need to conduct a full audit; it is less thorough and only provides a negatively formulated assurance. Companies are allowed to perform it if they do not exceed certain size criteria, unless they have fewer than 10 full-time positions.

Companies in the commercial register must retain business books, receipts, and reports for 10 years. Business books can also be stored electronically; reports must be signed.