Short note Ergebnisbelastung: Pensionsrückstellung, Überarbeitete Richttafeln 2018 G (10/2018)

Short note Ergebnisbelastung: Pensionsrückstellung, Überarbeitete Richttafeln 2018 G (10/2018)
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Short note Bilanzielle Behandlung von Kryptowährungen (10/2018)

Short note Bilanzielle Behandlung von Kryptowährungen (10/2018)
(PDF 0.28 MB)

Short note Ergebnisbelastung: Pensionsrückstellung, Überarbeitete Richttafeln 2018 G (10/2018)

Short note Ergebnisbelastung: Pensionsrückstellung, Überarbeitete Richttafeln 2018 G (10/2018)
(PDF 0.28 MB)

Short note Ergebnisbelastung: Pensionsrückstellung, Überarbeitete Richttafeln 2018 G (10/2018)

Short note Ergebnisbelastung: Pensionsrückstellung, Überarbeitete Richttafeln 2018 G (10/2018)
(PDF 0.28 MB)

Short note Bilanzielle Behandlung von Kryptowährungen (10/2018)

Short note Bilanzielle Behandlung von Kryptowährungen (10/2018)
(PDF 0.28 MB)

Short note Bilanzielle Behandlung von Kryptowährungen (10/2018)

Short note Bilanzielle Behandlung von Kryptowährungen (10/2018)
(PDF 0.28 MB)

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Advisory

Our staff offer a wide range of differing expertise that is concentrated in the areas of tax, audit and advisory.

The area of advisory stands for comprehensive consultancy in the key strategic and operating issues with which our clients are confronted.

Every company history has its milestones – from the founding via mergers and acquisitions to the succession plan. We support the preparation and implementation of groundbreaking decisions as well as the everyday business.

Current News [in German only]

Kapitalmarkt / Deutsche Börse / Indexzusammensetzung / DAX
Zwirner

Neue Indexregeln an der Deutschen Börse zum 24.09.2018

Die Deutsche Börse hat am 04.09.2018 darüber informiert, dass die Wirecard AG in den DAX aufgenommen und dort ...
Pensionsrückstellungen / Richttafeln / Bewertungsparameter / HEUBECK / biometrische Annahmen
Zwirner

Korrigierte HEUBECK Richttafeln 2018 G: Ergebnisbelastung fällt geringer aus als zuvor erwartet

Im Juli 2018 hatte die HEUBECK AG ihre aktuellen Richttafeln (RT 2018 G) veröffentlicht. Nachdem zwischenzeitl...
Unternehmensbewertung / Zinssätze
Zwirner

Basiszins nach IDW S 1 zum 01.10.2018 wieder auf 1,00 % gefallen

Erstmals seit Anfang 2017 beträgt der für Zwecke der Unternehmensbewertung nach IDW S 1 zu ermittelnde Basiszi...
Pensionsrückstellungen / Richttafeln / Bewertungsparameter / HEUBECK / biometrische Annahmen
Zwirner

Notwendige Überarbeitung der neuen HEUBECK Richttafeln 2018 G

Am 20.07.2018 hat die HEUBECK AG ihre aktuellen Richttafeln (RT 2018 G) veröffentlicht. Mit Datum vom 26.09.20...
Unternehmensbewertung / Transaktionen / M&A
Zwirner

VALUE Q3/2018

In unserem Kleeberg-Newsletter „VALUE“ werden quartalsweise bewertungsrelevante Themen behandelt. Dabei wird s...
Unternehmensbewertung / Zinssätze
Zwirner

Basiszins nach IDW S 1 zum 01.09.2018 (noch) unverändert bei 1,25 % – bei fallender Tendenz

Unverändert zu den Vormonaten beträgt der für Zwecke der Unternehmensbewertung nach IDW S 1 zu ermittelnde Bas...

Advisory approach

Our clients have to master very specific challenges where standard solutions are of no use to them. That is why we offer business-process oriented advisory services in which we never lose sight of the company and its environment as a whole.

We adopt the client’s point of view as our own, and discuss the goals and the basic parameters with him. We want our clients to reach their goals by the shortest route – which is why we work in a structured and efficient manner and with the highest professional standards in terms of the proficient quality of our consulting.

Range of services

The essence of entrepreneurship is making decisions. Our advisory services support the decision-making process – in questions of daily business just as much as in matters that are of strategic significance in setting the course.

We support you in your day-to-day business in capital market communication, in internal audits and in optimising business processes, to name but a few areas. We also place our expertise at your disposal in the preparation of groundbreaking decisions – from the founding through to succession planning via mergers, acquisitions and restructurings.

Compliance

In business speak, compliance is the term used for adhering to laws and guidelines and also voluntary codes within a company. All of a company's policies and measures to comply with these rules and thus prevent breaches of regulations combine to form the compliance management system.

The increasing public reporting about the creation of secret accounts, corruption and bribery, anti-competitive agreements, breaches of data protection law or export regulations have raised an awareness of the topic of compliance among many companies and have resulted in combative measures. Non-compliance with rules can lead to corporate penalties, fines, profit skimming or forfeiting the profit generated by the breach of the law. At the same time, the breach often culminates in a major loss of image.

Kleeberg supports you in setting up or improving the compliance organisation in your company. Of course, we incorporate company-specific factors and issues in accordance with, for example, the respective laws, other regulatory provisions and ethical standards into our activities.

Furthermore, Kleeberg also conducts tests on compliance management systems pursuant to the IDW Standard PS980 (Grundsätze ordnungsmäßiger Prüfung von Compliance Management Systemen - Generally Accepted Standards for the Audit of Compliance Management Systems). We are proficient in all three stages, from design qualification to testing adequacy and implementation to auditing the efficiency of a CMS.

It goes without saying that we take into account the specifics of the respective sector and legal form in our compliance-related activities.

Further information on how we can support you with compliance is available here (German only).

Corporate governance

"Good corporate leadership and control" or "appropriate content of the corporate charter" – these are the fundamental issues that have gained importance under the heading of corporate governance in recent years. The German Corporate Governance Codex for publicly listed companies, which all companies are recommended to implement as a matter of principle, has had no small part to play in this.

Kleeberg works with the client to develop a comprehensive strategy for dealing with the issue of corporate governance. This comprises first of all establishing the best possible legal structure for the company, the ideal corporate leadership and the necessary supervisory functions; here we faithfully observe the current requirements of corporate governance. To this we add addressee-oriented communication and information about existing corporate governance structures, in order to highlight clearly the positive effects also in terms of public image. As needed we also support our clients in the development and implementation of their own corporate-governance principles, as well as in the context of enforcement proceedings.

In consultancy relating to issues of corporate governance, it goes without saying that we take into account the specifics of the branch of business and the legal form of the company.

Due diligence

Wide-ranging changes in organisational structure dominate the landscape of modern economics. Purchasing and selling decisions result in competition for potential acquisitions. As a result the necessary due diligences have to be performed, sometimes under great time pressure and focusing on specific areas. A systematic concentration on the factors that determine a company’s worth enhance the benefit of due diligence.

Kleeberg offers clients comprehensive support in planning and carrying out due diligences. In doing so we offer a realistic estimate of opportunities and risks. Depending on the circumstances, the analysis will look at issues such as financial standing and profitability, cash flow, market position, fiscal hazards and the personnel situation, among other things. For our clients we elaborate a sound basis for decision-making, founded on reliable valuation methods, probability calculations and sensitivity analyses, and that allows potential hazards to be identified. Using simulation calculations we can also portray what effects the transaction would have on the balance sheet.

In due diligences it goes without saying that we take into account the specifics of the branch of business and the legal form of the company.

Fairness opinion

Fairness opinions give a professional view on the outcome of a decision-making process, particularly on whether the price of a transaction during an entrepreneurial initiative is financially reasonable. They serve to confirm and document fair and understandable figures for the annual financial statements, annual general meetings or shareholders' meetings and for submission to the tax authorities.

Kleeberg supports clients by issuing informative fairness opinions for the purpose of confirmation and documentation. To do so, we benefit from our many years of experience in valuations in the transaction business. Kleeberg works without any conflicts of interest in compliance with independence requirements. The combination of our expertise from our areas of practice enables us to give a sound opinion on the decision-making process concerned.

We observe the specific nature of the respective sector and legal form as a matter of course in our fairness opinions.

Further information on how we can support you with fairness opinions is available here[German only].

Business process optimisation

Accounting-related IT systems today link information about finances, human resources, production and sales. They may be warehouse-management and order-tracking systems, customer and supplier databases, financial accounting systems or a host of other applications. They also offer interfaces to suppliers and customers as needed.

In this context questions frequently arise as to the efficiency of the IT-supported work processes and the management’s IT strategy. Existing structures often force the adaptation of business processes to integrated accounting systems.

If the client desires, Kleeberg is pleased to take on a number of tasks in the area of the accounting-related business-process optimisation.

Kleeberg offers you in-depth technical and methodological knowledge coupled with decade-long experience in analysis, planning and modelling, to optimise your bookkeeping processes and any associated operative processes. We analyse the existing accounting system and draft individual proposals for improvement.

In addition, Kleeberg assists you in structuring and introducing process-related monitoring and surveillance systems, to ensure that the processes are conformed to in the long term.

Corporate law

Corporate law raises a wealth of questions about companies’ internal and external relationships. This ranges from company formation through restructuring, liquidation or insolvency to succession planning. In addition company-law issues cover the appointment and revocation of corporate organs, the supervision of annual general meetings as well as silent partnerships and indirect holdings. Great significance is also assigned to the drafting of affiliation agreements.

Through the cooperation of experts, Kleeberg guarantees expert client support in all issues of corporate law, regardless of whether they relate to the problems of individual companies or corporate groups. Through our legislative expertise we create legal security for our client. With the client we elaborate integrated solutions and individual agreements that optimally reflect and implement the stated objectives. In issues relating to corporate law we demonstrate to our clients the consequences of the different options open to them.

In consultancy relating to issues of corporate law, it goes without saying that we take into account the specifics of the branch of business and the legal form of the company.

Going public

For a successful IPO, excellent preparation is indispensable. Kleeberg offers clients comprehensive liaison and support from a single source.

The preparation of an IPO requires a broad range of knowledge – such as of the specific market environment, the money markets, corporate financing, fiscal and commercial legislation, not to mention national and international accounting. In all phases – the original decision, the strategy, the public image – information has to be sought out and prepared, all the while maintaining confidentiality yet without imposing any burden on the day-to-day operations of the company.

Kleeberg supports clients in everything from the negotiability analysis to the market and sector evaluation via the drafting of bank exposés. Beyond that we help set up a financial, accounting and reporting system adapted to the changed circumstances. We optimise the organisational legal structure and the fiscal situation, advising our clients in specific accounting issues resulting from going public.

We also offer support in supplying information reliably to satisfy the demands of the capital market.

Expert opinions on accounting issues

With our extensive expertise in the areas of accounting, valuation and auditing, we are available as a contact on special issues at any time and find solutions for complex accounting problems. These frequently target issues concerning a possible invalidity of the annual financial statements based on company law.

Our opinions create a solid basis of information which is a precondition for finding an adequate solution to a problem; they also give actual recommendations on how to deal with the issue in question. It goes without saying that we take account of the specific nature of the particular line of business and legal form in our assessment.

The broad range of our services and the cooperation of our experts in individual special fields guarantee that problems are seen from all sides, not only in terms of how they are reflected in accounting, and keep an eye on possible tax or company law issues.

IFRS

Through the ongoing globalisation of business and the cross-border integration of capital markets, the importance of uniform international accounting standards is growing. The EU-wide commitment of capital-market oriented parent companies to group accounting in accordance with the International Financial Reporting Standards (IFRS) has made these accounting standards the "lingua franca" of the money markets in Europe. For non-capital-market oriented companies, the new "Basel II" equity accords, for example, reinforce the trend towards conversion of the accounting to international standards.

Kleeberg accompanies clients competently through the transition process. Together we hammer out the basics in terms of content and schedule, to make the transition as efficient and smooth as possible. We advise our clients about all adjustments that need to be made to their information and control systems. With our comprehensive specialist knowledge on the application of IFRS, we can be called on at any time to offer competent support for specific questions about balance sheets and appraisals, and find solutions for complex accounting problems.

In consultancy relating to the IFRS, it goes without saying that we take into account the specifics of the branch of business and the legal form of the company.

Internal audit

Internal audit departments are no longer just responsible for monitoring the company, but are also expected to make a contribution to the company’s development and to boosting its value. Some companies outsource the internal auditing in whole or in part to third parties for cost or efficiency reasons. In these cases external parties may take care of the auditing of certain areas, for example, or the evaluation and appraisal of the internal monitoring and surveillance system, providing the necessary expert resources on a temporary or permanent basis.

Depending on the wishes of the client, Kleeberg can assume a range of internal auditing tasks. By outsourcing certain activities, the client benefits from our extensive technical and sector-specific expertise in the areas of accounting, appraisal and risk-oriented auditing. We analyse the existing risk management system and if necessary submit suggestions for improvements.

If the internal audit remains in the client’s hands, or if the department has yet to be set up, it is important to ensure that it operates efficiently and effectively in line with current standards. Here Kleeberg can assess its effectiveness competently and reliably, or implement a completely new, functioning internal audit department. In this the focus of interest is on work processes and methods, documentation and communication requirements as well as quality assessment.

In our activities in the area of internal auditing, it goes without saying that we take into account the specifics of the branch of business and the legal form of the company.

Capital market communication

The globalisation of the money markets renders the need for companies to communicate effectively much more acute. Not only do investors expect accounting systems that can be compared internationally, but various groups of addressees – analysts and private investors, for example – also voice a need for specific information.

Kleeberg is your competent partner for capital-market communication. We support clients in preparing the necessary information. We work with the client to draw up an optimised information strategy that guarantees that the various recipient groups will receive information specially tailored to them and at the right point in time for them. We place the emphasis on addressee-oriented communication in order to avoid asymmetries of information.

In matters of capital market communication, it goes without saying that we take into account the specifics of the branch of business and the legal form of the company.

Mergers and acquisitions

Like strategic cooperations, mergers and acquisitions also open up brand new opportunities for companies. Thus they represent pivotal entrepreneurial decisions, but at the same time entail enormous risks. Detailed planning, transactional security and appropriate transaction management are essential prerequisites to success.

Kleeberg supports the whole process competently and effectively. We answer tax-related questions and advise in the choice of the suitable form of financing for the transaction. In addition we advise clients in legal matters and perform due diligences. We always keep an eye on the goal of the transaction, and coordinate all streams of information, which allows us to negotiate confidently in the best interests of our client. Our staff track developments in all relevant areas, point out trends early on and make proposals for action.

In taking care of mergers and acquisitions, it goes without saying that we take into account the specifics of the branch of business and the legal form of the company.

Quality assurance services and organizational consulting

Quality is a critical success factor in competition and the demands placed on assuring quality of performance are correspondingly high. Based on our own perception of quality and the high standards we set for ourselves we are fully aware of the importance of quality. But the expertise we have acquired as regards quality assurance is not only of benefit to Kleeberg. On the contrary, we make our knowledge available to clients as well as the profession.

Besides quality controls prescribed by law, we offer our colleagues in the profession additional quality assurance services. These include among other things the provision of ISO certifications as well as audit critiques or internal inspections. Moreover, our people can draw on their many years of experience in organisational consultancy when advising smaller and medium-sized firms. We use our knowledge of the particular requirements of this target group to provide them with comprehensive support in optimising their organisational operations and service quality and offer guidance in the continual improvement process.

Kleeberg also provides expertises and opinions on, for example, questions concerning single-entity and consolidated accounting based on the German Commercial Code (HGB) and the IFRS. The wide-ranging knowledge of our professionals enables us to shed light on even very specialised issues and to find practical solutions.

Restructuring

Against the backdrop of increasing competition and growing cost pressure, restructurings offer an opportunity to reallocate resources and focus energies to improve the position of the company. This can entail decisions on core competences and capital investment, for example – often with consequences for the human resources department.

Kleeberg helps clients elaborate the individual concept for the restructuring schedule and supports its implementation. In the search for the best decision we compare different scenarios. We know that restructuring has to be explained and made plausible to the inside and outside. We also advise clients in this respect.

We support the entire restructuring process, to put the client’s competitive edge on a sustainable footing and to optimise his economic situation. For purchases and divestments of sections or groups within the company, we place our know-how in the areas of mergers and acquisitions and due diligence at his disposal.

In consultancy in connection with restructurings, it goes without saying that we take into account the specifics of the branch of business and the legal form of the company.

Company valuations

A company is sold in whole or in part, partners join or leave – changes in the ownership structure frequently make a revaluation of the company necessary. Various procedures are available here.

In close cooperation with the client, Kleeberg performs comprehensive evaluations of the company. Using the evaluation procedure most ideally suited to the individual circumstances, we establish the value of the client’s company or, for corporate transactions, the value of the target firm. Through our efficient approach we create the necessary information basis within a reasonable timeframe and arrive quickly at accurate, reliable results.

In company valuations, it goes without saying that we take into account the specifics of the branch of business and the legal form of the company.

Corporate succession and the transfer of assets

Providing sound advice in matters of corporate succession and transfer of assets demands extensive legal and fiscal knowledge – not to mention a high degree of experience of life and a sure instinct.

We work with our client first of all to clarify his individual objectives. On this basis we work out an asset and company structure that is optimised from the organisational, fiscal and legal points of view. In all legal transactions that are necessary for the implementation, we support the client with advice. In succession planning we take into account both the preservation of family assets and income-related issues from the viewpoint of the relinquishing generation. Kleeberg undertakes the evaluation of the total assets with respect to succession tax legislation and calculates the latent tax burden of the envisaged succession arrangements. We develop long-term strategies for tax-efficient asset transfers to the next generation.

In looking after corporate successions and asset transfers, it goes without saying that we take into account the specifics of the branch of business and the legal form of the company.

Supporting insolvency administrators

Both in cases of preliminary insolvency proceedings and also where insolvency proceedings are already opened, besides ongoing liquidity planning for the debtor company, the insolvency administrator will require tax advice which, for reasons of personal liability alone, he will seek with an external service provider. Pursuing liability claims calls for an objective expert opinion from an independent third party at the time of insolvency or over-indebtedness. Through the experience we have acquired from working with insolvency administrators we are familiar with the particularities of insolvency law, which makes us a competent partner for insolvency administrator firms.

When drawing up liquidity plans, Kleeberg works in close personal consultation with the administrator to identify which payments are in fact necessary for the business to continue. If preliminary proceedings are instituted, even on the occasion of the first works meeting we with a team in the company are able to ascertain the general financial situation in consultation with the management as well as with the controlling, purchasing, sales and accounts departments and can prepare a first liquidity plan which will, in turn, decide the most suitable financial and organisational measures to be taken to improve liquidity.

In the course of the proceedings Kleeberg supports the insolvency administrator in asserting liability claims. Expert opinions drawn up by us ascertaining insolvency and over-indebtedness form the basis for a successful pursuance of the claims by the administrator.

Current case law of the Bundesfinanzhof (Federal Fiscal Court) and ongoing efforts to reform insolvency law are continually bringing about changes in the fiscal framework conditions of insolvency proceedings. Kleeberg actively responds to these changes by preparing the tax returns of the insolvent debtor on behalf of the administrator.

Business mediation

Our experience in the field of business mediation has led us to the realisation that this is an excellent tool to avoid litigation and achieve the result desired by all parties through out-of-court settlements in a significantly shorter amount of time and thus at considerably less cost. The fact that participation in the process is voluntary is an important guarantee of this.

Provided that all parties involved agree on an independent and impartial business mediator, the latter can define the issues in a clearly structured process, clarify the respective interests and, together with the parties, work out creative solutions which are then carried through. Our expertise in the legal aspects is of help to us here.

But also outside the context of regulated mediation proceedings, Kleeberg can guide settlement discussions and can lend assistance in resolving conflicts. These could arise from, e.g. succession arrangements, shareholder disagreements or other contractual disputes. In order to achieve a cost-efficient and positive result, it is extremely important that potential conflicts be recognised as early as possible and, with our expert support, that timely efforts be made to find a solution.

Quality assurance

We look upon quality assurance as an ongoing process, for excellent advisory services are the foundation of successful collaboration with our discriminating clients in the long term.

The qualification level of our staff makes a decisive contribution to the quality of our consultancy service. For this reason we place a great importance on ongoing personal development and training. First-class results are also guaranteed by the personal commitment of a technically experienced director who is responsible for the brief.

In quality assurance we always keep an eye on the whole area of advisory, but also approach each individual auditing job no less individually.

IDL Dialog I (05/2017)

(PDF ca. 0,4 MB)

Flyer Unternehmensbewertung, Die Quantifizierung Ihrer Wertschöpfung

Flyer Unternehmensbewertung, Die Quantifizierung Ihrer Wertschöpfung

(PDF ca. 300 KB)

Flyer Werte schaffen, steigern, sichern – (Mehr) Wert für Sie

Flyer Werte schaffen, steigern, sichern – (Mehr) Wert für Sie

(PDF ca. 300 KB)

Flyer Compliance: Aufbau, Nutzen und Prüfung von Compliance Management Systemen

Flyer Compliance: Aufbau, Nutzen und Prüfung von Compliance Management Systemen
(PDF ca. 300 KB)

Kleeberg Flyer Fairness Opinion

Flyer Fairness Opinion

(PDF ca. 300 KB)

Flyer Interne Revision und Risikomanagement

Flyer Interne Revision und Risikomanagement

(PDF ca. 300 KB)

Short note Ergebnisbelastung: Pensionsrückstellung, Überarbeitete Richttafeln 2018 G (10/2018)

Short note Ergebnisbelastung: Pensionsrückstellung, Überarbeitete Richttafeln 2018 G (10/2018)
(PDF 0.28 MB)

Short note Bilanzielle Behandlung von Kryptowährungen (10/2018)

Short note Bilanzielle Behandlung von Kryptowährungen (10/2018)
(PDF 0.28 MB)

Short note Ergebnisbelastung Pensionsrückstellung überarbeitet (09/2018)

Short note Ergebnisbelastung Pensionsrückstellung überarbeitet (09/2018)
(PDF 0.29 MB)

Short note Zukunft der Berichterstattung (09/2018)

Short note Kurzinformation Zukunft der Berichterstattung (09/2018)
(PDF 0.28 MB)

Short note Ergebnisbelastung Pensionsrückstellung (07/2018)

Short note Ergebnisbelastung Pensionsrückstellung (07/2018)
(PDF 0,25 MB)

Kleeberg short note Die Novelle der Geldwäschebekämpfung (09/2017)

Short note Novelle der Geldwäschebekämpfung (09/2017)
(PDF 0,2 MB)