What is an accounting class?
An accounting class is a classification of companies.
Companies are placed in an accounting class based on their form and size. A company can be in accounting classes A, B, C, or D. The classes determine the rules for financial reporting.
In accounting class A, there are the fewest requirements for how the company reports its finances, while in class D, there are the highest requirements for financial reporting.
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Which accounting class does your company belong to?
Accounting class A
In this class, you will find personally owned small and medium-sized businesses. These are often sole proprietorships.
In class A, you decide for yourself whether to submit an annual report.
Accounting class B
In class B, you will find slightly smaller and medium-sized businesses with limited liability. These are typically joint-stock companies, business foundations, and smaller limited liability companies.
As a class B company, you must submit an annual report.
Accounting class C
Accounting class D
Are you a state-owned joint-stock company or a listed company? Then you belong to class D, regardless of the size of your company.
Here, there are the strictest requirements for financial reporting, and you must submit a revision and annual report.