Financial statements of some independent companies are combined into one consolidated financial statement in order to provide the users of a true picture of the situation of the whole group. Under certain conditions, the consolidation of financial statements is required by law.

Thus, consolidated parent companies are required based in the European Union for financial years after 31 Begin in December 2004 to prepare consolidated financial statements according to IFRS rules. Since IFRS financial statements must necessarily contain data for the previous year, affected companies were forced to include information from a year earlier to account for parallel requirements under IFRS.

Evaluation

Financial statements analysis assesses indicators in the balance sheet as well as profit and loss account as part of Bribery Act Guidance. These indicators include capital adequacy, asset creation, profitability, liquidity or quotient. Understanding the scope of individual and consolidated financial statements

In addition to official information, internal components of the financial statements such as due dates, orders or results of budgeting can be used for evaluation for internal purposes.

Disclosure and auditing requirements

The annual accounts of certain companies, particularly large corporations, cooperatives, companies in certain industries (insurance, credit institutions) or public corporations, must be tested by independent institutes and subsequently published in the commercial register. Nature and scope of audit and disclosure requirements for corporations depends on the size.

While a breach of these obligations was previously hardly sanctioned, this changed with the enactment of the Law on electronic commercial register. Public companies publish the official ingredients usually together with additional information for the shareholders in the business report to ensure compliance with Bribery Act Guidance.

Income tax in the United States is levied independently by the federal government, some states and individual municipalities also levy on various types of income. The federal government levies a progressive income tax both for individuals and for-profit companies to all income from whatever source. Since its introduction by the Revenue Act of 1913, the tax rates and their base were repeatedly changed to reflect the political and economic conditions in the United States.

Since the adoption of the Jobs and Growth Tax Relief Reconciliation Act of 2003, the marginal tax rates for individuals was extended depending on the tax base in steps from 10 to 39.6%. The stages set are each charged only for the associated income area.

Also, this includes rental income, royalties and other lottery and gambling winnings. Profits from long-term investments are taxed at lower rates than other income, gains on long-term real estate transactions, for example, only 10 to 25 percent. Average and marginal income tax rate in the United States in 2007