德国企业负有依法在年末编制财务状况表的义务。该资产负债表的核心组成部分之一是企业的流动资产。本文将为您阐释流动资产的定义、涵盖范围，及其与非流动资产的区别。还将说明短期资产对德国本土运营企业的重要性，以及德国相关要求与国际规定的差异。此外，本文末尾还将提供流动资产的计算方法，以及两个具体示例。

本文包含哪些内容？

• 定义：简化的流动资产
  
• 流动资产和非流动资产有什么区别？
  
• 流动资产包含哪些内容？
  
• 为什么流动资产对德国企业至关重要？
  
• 德国与国际关于流动资产的要求对比
  
• 如何计算流动资产
  
• 流动资产示例
  

定义：简化的流动资产

在企业资产负债表中，流动资产项目包含所有为出售、加工或耗用而持有的资产。这类资产不会无限期处于流转状态，而是会在短期或中期内转化为其他形式的资产或现金。因此，流动资产的持有周期较短，且易于快速变现。

What’s the difference between current and noncurrent assets?

The total holdings of an organization fall into two main categories: current and noncurrent assets. Both types play a distinct role in daily operations and follow their own set of regulatory requirements.

Unlike short-term items, long-term ones remain in the organization and are applied over an extended period to support ongoing activities. They include:

• Tangible assets, such as machines, vehicles, or office equipment
  
• Intangible assets, such as patents, licenses, and trademark or brand rights
  
• Financial assets, such as holdings, securities, or bonds
  

§ 247.2 of the German Commercial Code (HGB) specifies the scope of long-term holdings. Current assets are determined according to the exclusion principle and encompass all resources that are not noncurrent.

What do current assets entail?

§ 266 of the HGB describes current assets in detail as part of the breakdown of a balance sheet, which lists all the items contained under that section, broken down by type.

What falls under current assets

并非所有证券都属于短期资产类别。只有当证券被视为临时现金储备持有，或企业计划在限定期间内持有该证券时，才会被归入此类。企业获取证券时的既定用途，最终决定了该证券应归属于流动资产还是非流动资产类别。

Why are current assets important for businesses in Germany?

§ 242 and § 264 of the HGB obligate businesses in Germany to prepare annual financial statements. These consist of the balance sheet and a profit and loss statement, plus notes and a management report as appropriate. The balance sheet provides a comprehensive overview of the business’s holdings, earnings, and financial position. Current assets play a core role here as they represent a substantive portion of their resources. Correctly accounting for current assets is hence key when it comes to compliance with the statutory regulations.

They are also important for businesses in Germany with respect to the following:

Securing liquidity

Every organization faces ongoing obligations that it must resolve promptly. These contain payroll, supplier invoices, taxes, or loans. Current assets ensure the liquidity needed to cover these liabilities. Insufficient near-term resources could result in bottlenecks, which can put a firm’s solvency at risk. Liabilities that are settled too late or not at all can also hurt the level of trust enjoyed with business partners and investors.

Stability and flexibility

Firms that use forward-looking cash flow planning and utilize their current assets efficiently can avoid unnecessary borrowing, thereby reducing interest costs. They are also better placed to react to seasonal fluctuations, sudden market developments, or unexpected expenses. Anticipatory short-term resource planning can therefore improve financial stability and give you greater flexibility in how you manage your business.

Profitability

Not having enough current assets can lead to defaulting on payments, while having too many can reduce profitability. Enhanced near-term resources enable businesses to quickly convert their investments in inventories and receivables to cash. The faster this capital becomes available, the more an organization can channel it toward growth, avoiding unnecessary lockups. That means you can increase your profitability if you use your current assets efficiently.

Balanced management

3.4 million businesses in Germany are small and medium-sized enterprises (SMEs)—that’s 99.3% of all firms in the country. A balanced approach to managing current assets is important to these sorts of outfits, as they are reliant on evenhanded liquidity planning. Industries with rapid production cycles—such as retail, manufacturing, or services—face this most acutely, since excess inventory diverts funds toward storage instead of fueling growth. Understocking can create bottlenecks in production or delays in deliveries.

Requirements regarding current assets in Germany vs. internationally

The requirements for reporting current assets in Germany are set out in the HGB and are binding for the majority of domestic firms. Exchange-listed entities, however, are subject to the International Financial Reporting Standards (or IFRS for short). Parent companies that are not capital market-oriented can voluntarily prepare IFRS-compliant consolidated statements. § 315a of the HGB stipulates which additional regulations apply in this case.

The HGB’s primary purpose is to protect creditors, requiring that holdings and obligations undergo cautious valuation. The IFRS, on the other hand, is primarily intended to safeguard investors and strives to present the most realistic possible illustration of a business’s resources, earnings, and overall position. This difference is evident in several key accounting and measurement aspects.

HGB vs. IFRS: The most important differences for current assets

Below are some of the notable differences between the HGB and IFRS:

Asset measurement
German commercial law requires that items be recorded at historical cost, while the IFRS mandates valuation based on market values.

Goodwill
Goodwill is the additional value a business has beyond material things, such as buildings or machines. Factors, including brand awareness or customer relationships, shape it. The IFRS requires organizations to recognize this premium in equity and reduce it when its worth declines. The HGB, on the other hand, requires goodwill to be written down over a set period, regardless of whether the business’s value is actually decreasing.

Internally generated intangible assets
The HGB does not, in principle, allow for the posting of internally generated intangible assets, such as licenses, brands, or software, to the balance sheet. Still, businesses do have a choice if these goods constitute part of their current assets. Per the IFRS, firms must capitalize these kinds of nonphysical items, provided that the business draws an economic benefit from them and can measure them reliably.

Revenue recognition
The IFRS allows entities to recognize income in advance—for instance, by gradually entering earnings from a contract manufacturing order as work progresses. By contrast, the HGB records earnings only once realization occurs and demands immediate recognition of losses as soon as they emerge.

Tax valuation
An HGB-compliant annual financial statement also serves as the basis for computing a business’s taxable profits. An IFRS-compliant statement, on the other hand, is not utilized for tax purposes.

如何计算流动资产

HGB§247.1 将短期项目归入资产方，并列在固定资产项下。该结构按资产的变现能力对项目进行排序，因此越靠后的项目，其变现为现金的速度越快。计算流动资产时，需记录所有相关的明细项目并计算其总额。

在某些情况下，营运资金净额通过从短期持有资产中减去短期负债得出。流动净资产反映了企业实际可支配的短期资源部分。

Stripe Revenue Recognition可以帮助您将所有收入分配到正确的报告期，从而正确计算流动资产。企业一旦产生收入，该收入即被视为已实现，从而提供可靠的数据，助力精准计量收益。此外，收入确认功能还能降低会计差错风险与交易失败风险。

流动资产示例

下面是依据 HGB§266 分类列示的、资产负债表中流动资产的两个虚构示例。

示例 1：小型零售企业

示例 2：中型机械工程公司