Accounting

Cost type accounting provides important data for further phases of accounting by classifying costs by type, function, and allocation. It divides costs into material, personnel, capital, and procurement costs, as well as by behavior during fluctuations in employment levels.

Financial accounting (FIBU) records business transactions, balances assets, and calculates success, and is governed by legal guidelines. Management accounting (BEBU) is internally oriented, analyzes costs and performance of products without legal obligation.

Swiss law of obligations primarily protects creditors, with the principle of caution being central. This principle encompasses the principles such as realization and the lower of cost or market principle.

Static balance sheet theory focuses on asset determination to ascertain net assets and profit as an asset increase. Dynamic balance sheet theory aims at a comparable and period-accurate profit determination, where creditor protection is secondary.

The income statement can be presented using the total cost method (production success) or the cost of sales method (sales success). The total cost method recognizes inventory changes as revenues or expenses.

New payment slips in Switzerland now uniformly use IBAN and QR codes, simplifying payment transactions and reducing fees. Available from July 2018, they will completely replace the old versions from 2020.

Travel expenses of a sole proprietorship can either be accounted for via a travel log in case of private ownership or as a business vehicle with private usage. Both methods allow for the tax consideration of these costs in the accounting.

Annual financial statement audits identify significant errors, where "significance" includes both quantitative sizes and qualitative influences. The determination of these limits affects the scope and cost of the audit.

In Switzerland, 71% of SMEs align their accounting with the Code of Obligations, while Swiss GAAP FER is used by 14% and IFRS by 12%. US GAAP is used by only 2% of the non-listed Swiss SMEs.