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The secrets of financial accounting: What no accountant will tell you

Financial accounting is a crucial aspect of any business that is often fraught with misunderstanding and uncertainty. It's often the little secrets that accountants don't reveal - secrets that can have a significant impact on a company's financial well-being. If you want to find your way in the world of accounting, you should bear the following important points in mind: The role of financial accounting Financial accounting is the backbone of accounting. It ensures the [...]

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Top 5 reasons why you should (maybe?) switch to CAFM

Efficient management of facilities can be crucial to a company's success. The implementation of CAFM (Computer-Aided Facility Management) software can have a transformative effect. Here are our five most compelling reasons why your company should switch to CAFM: Optimising operating costs: By using CAFM software, companies can achieve significant savings in operating and maintenance costs. According to a study by Facility Management International, through effective CAF management, organisations can reduce their

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What does property yield mean?

The property yield is a key figure for investors in the property market. It quantifies the profitability of a property investment and is usually expressed as a percentage. The return can be calculated using various methods, but is generally based on the ratio between the income generated and the costs of purchasing and maintaining the property. A high return indicates a profitable investment, while a low return indicates a potentially less lucrative investment. As a key indicator

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The most important tasks of a property manager

Letting properties is a central component of professional property management. An efficient letting strategy ensures a continuous cash flow and minimises vacancy periods. The core tasks include the creation of market-oriented exposés, target group-oriented marketing via various media channels and the organisation and implementation of viewing appointments. Careful credit checks on potential tenants and the drafting of legally compliant tenancy agreements are further essential steps in the letting process. Rental pricing is based on a sound market analysis, taking into account factors such as

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What does a tax audit mean?

A tax audit is a systematic examination of a company's tax situation by the tax authorities (and as long as you're not Al Capone, everything should be fine, just to clarify...). It serves to verify the accuracy and completeness of tax information and compliance with applicable tax laws. The audit can cover one or more tax periods and involves analysing accounting records, receipts and other relevant documents. Tax audits can be announced

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Corporation tax: Tax burden for companies

Corporation tax is a direct tax levied on the profits of corporations and other legal entities. It represents a significant source of income for the state and contributes substantially to the financing of public tasks. The assessment basis for corporation tax is the taxable income of the company, which is calculated in accordance with specific tax regulations. In Germany, the corporation tax rate has been a uniform 15 per cent since 2008. In addition, a solidarity surcharge of 5.5

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Customer loyalty: How companies build long-term customer relationships

Customer loyalty is a key factor for the long-term success of companies. Studies show that acquiring new customers is on average five to seven times more expensive than retaining existing customers. It therefore makes economic sense for companies to prioritise customer loyalty as a strategic goal. Loyal customers generate stable and predictable sales. They buy more frequently, spend more per transaction and are less price-sensitive. According to a study by Bain & Company, a

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What you need to know about trade tax

Trade tax is a municipal tax paid by companies and the self-employed on their trade income. It is an important source of income for municipalities and is used to finance local infrastructure and public services. It is calculated on the basis of trade income, which is derived from company profits. The trade tax rate is set individually by each municipality and usually varies between 200% and 500%. As a municipal tax, the collection and determination of trade tax is the responsibility of

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Corporate tax: limited liability companies, sole proprietorships and liberal professions

Corporate taxes are a key source of revenue for the state to finance public spending. They are levied on company profits and income, whereby the amount can vary depending on the legal form and sector. The tax burden has a significant impact on the financial situation of companies, which is why a thorough examination of tax aspects and possible optimisation strategies is essential. In Germany, corporate taxation is based on the Income Tax Act (EStG) and the Corporation Tax Act (KStG). Corporations such as GmbHs are subject to

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Annual financial statements: How to present your balance sheet professionally

The annual financial statement is an important part of business life and plays a crucial role for companies. It provides a comprehensive overview of a company's financial position at the end of the financial year and enables stakeholders to make informed decisions. In this article, we will take a closer look at the importance of the year-end statement for your company and discuss the various aspects that need to be considered when preparing and interpreting it. Key Takeaways The

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Cost accounting: Efficient costing for companies

Cost accounting is an essential part of business accounting and plays a crucial role for companies. It makes it possible to analyse a company's cost structure and understand how resources are used. Cost accounting helps companies to control their costs, improve their efficiency and make informed decisions. In this article, we will take a closer look at cost accounting and examine its various aspects. Key Takeaways Cost accounting is important

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Depreciation: How to save taxes

Depreciation is an important aspect for businesses and individuals to understand their financial situation and save tax. It is important to understand how assets depreciate over time and how this can affect the tax burden. In this article, we will explore the different types of depreciation, how it is calculated and how it affects the balance sheet and income statement. Key Takeaways

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Income statement: the most important key figures

The profit and loss account (P&L) is an important tool for assessing the financial performance of a company. It provides information about a company's income, expenses and profit or loss for a given period. Knowing and understanding the P&L is critical for business owners to evaluate the financial health of their company and make informed business decisions. Key Takeaways A profit and loss statement shows financial performance

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FM Benchmarking: Comparison makes sense

FM benchmarking is an important process for facility management (FM) companies to compare their performance with other companies in the industry. It allows them to identify their strengths and weaknesses and recognise areas for improvement. In this article, we'll take a closer look at what FM benchmarking is, why it's important, how it works and the benefits it offers. Key takeaways FM benchmarking is a comparison of facility management processes and performance between

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Bookkeeping for beginners: the most important basics explained

Accounting is an essential part of every company, regardless of its size or sector. It involves the systematic recording, organising and recording of all financial transactions that a company undertakes. In this blog post, we will take a closer look at the different aspects of bookkeeping to gain a better understanding of its importance and requirements. Key Takeaways Bookkeeping is the systematic recording and analysing of business transactions. Companies need to keep accounts when

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What is the difference between operating leasing and finance leasing?

Leasing is an important financing method for companies, especially those that need to make large investments but do not have sufficient capital. It allows them to use assets such as machinery, vehicles or property without having to buy them. There are different types of leases, including operating leases and finance leases. In this article, we will explore the differences between these two types of leases and analyse their impact on businesses. Key Takeaways

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What is the HOAI and why is it important for architects and engineers?

The Fee Structure for Architects and Engineers (HOAI) is a central instrument for regulating the fees and services of architects and engineers in Germany. It plays an important role in the construction industry as it ensures that the services provided are appropriately remunerated. The HOAI is an essential part of German construction law and has a major influence on the way architects and engineers work. The importance of the HOAI for architects and engineers

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More transparency, less effort: successful rental management with CAFM software

Property management can be a complex task, especially when it comes to letting flats or commercial properties. To make this process more efficient and transparent, more and more property managers are using Computer Aided Facility Management (CAFM) software. This software offers numerous advantages for property management and can help to reduce costs, automate processes and optimise decision-making. What is CAFM software and how can it optimise

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