The GERMAN BUSINESS BASICS Program

No matter, which industry you are in and no matter how large or how small your firm is: The following subjects areas are a “must” for every Executive:

Business Law & Corporate Governance (PART 1)
German Accounting Principles (GAAP) & Corporate Taxation (PART 2)
Employment Law & HR Relations (PART 3)

PART 1 (Day 1):

In this Seminar, you will get an insight into the anatomy and mechanics of German Business Law and Corporate Governance. You will learn about the Legal Types of Business Organization (Aktiengesellschaft, Societas Europae, GmbH, UG, GbR, oHG, KG, GmbH & Co. KG), Sources and Structures of Business Law and by which means Organizations interact with their Stake Holders (measures of Representation). Together, we will examine the German Code of Corporate Governance, highlighting those topics which are most relevant in practice. Duties of Care will be our special focus, helping you to avoid those pitfalls, which could end up in personal liability. At the end of this section, we will take a brief look at the legal mechanics of Reorganizations (M&A) and Corporate Finance transactions.

PART 2 (Day 2):

In our German GAAP part of the Seminar, we will take a look at the statutes of the German Commercial Code (“HGB”) and we will analyze material differences between HGB and IFRS. You will also learn the basics of Group Accounting and the relationship between Local and International Accounting. Ultimately, you will get an idea of how the Audit process works (including which rules are governing the relationship between your firm and your auditor) and how you best will survive your first Audit in Germany… In the Tax part of this Seminar, you will be introduced to the German Corporate Income Tax and Trade Tax Law. Furthermore, we will take a brief look into the Reorganization Tax Act and – very basic – other Tax types in Germany like VAT and Real Estate Transfer Tax. At any time, we will do our best to help you being Tax compliant, avoiding Tax risks for your firm and you personally. On the other hand, we will point to some Steering Levers which enable you to reduce your Tax Burden.

PART 3 (Day 3):

The Employment Law & HR Relations Part of the seminar offers an introduction to the German individual and collective labour law and will help you to efficiently handle all stages of the “employee life-cycle”. This will cover: employee search & selection, conclude employment contracts (with a link to the compensation & benefits issue), employees’ & employers’ duties in the ordinary course of business, termination of labour relationships (including an excursion to disciplinary measures), restructuring of departments and companies as well as M&A transactions. Furthermore, you will learn about the typical German Co-Determination by way of the Betriebsrat (Works Council), Gewerkschaft (Trade Union) and employee representation in the Aufsichtsrat (Supervisory Board). Ultimately, our curriculum will give you an understanding of the specific labour law of top management… At any time, a particular focus of the seminar will be those aspects of German Labour law, which – by foreign executives – are used to be experienced as sneaky pitfalls.

Overview

PART 1: German Business Law & Corporate Governance

Legal Types of Business Organization (Aktiengesellschaft, Societas Europae, GmbH, UG, GbR, OHG, KG, GmbH & Co. KG)
Corporate Bodies (Vorstand, Aufsichtsrat, Geschäftsführung), Internal Organisation & External Representation
Roles and Major Duties of Executives & Supervisors (“Duties of Care”, “Business Jugement Rule”)
Legal Mechanics of Corporate Transactions, Reorganizations (M&A) and Corporate Finance The German Code of Corporate Governance

PART 2: German Accounting Principles (GAAP) & Corporate Taxation

German Accounting Principles (GAAP):

• “Grundsätze Ordnungsmäßiger Buchführung” – the German Principles of Bookkeeping
• Case Studies & Special Items (Work in Progress, Depreciation & Amortization, Goodwill & other Intangible Assets, Provision Types, Discounting Long-term Provisions, e.g. for Pensions)
• „Bilanz“, „GuV“, „Anhang“, „Lagebericht“ – a quick Overview of the Elements of Financial Reporting
• Accounting Policy – Potentials & Constrains in Managing your P&L
• Group Accounting & IFRS
• The Audit Process & Relationship with your Auditor
• Criminal Sanctions

Corporate Taxation:

• Income Tax & Corporate Income Tax (Partnership vs. Corporation)
• Trade Tax
• Reorganisation Tax
• VAT, Real Estate Transfer Tax
• Tax Compliance
• Steering Levers to reduce your Tax Burden

PART 3: Employment Law & HR Relations

• Basic Principles & Sources of Law
• Employee Search & Selection
• Concluding Employment contracts
• Managing Compensation & Benefits
• Employees’ & Employers’ duties in the ordinary course of business
• Termination of Labour relationships
• Restructuring of departments and companies
• M&A transactions
• Corporate Co-Determination
• Employment Law of Top Management

For the speakers, please see the Speakers’ page of this website.

The price for the overall package is 1.995 Euro (plus VAT).

For your registration please send an email with your contact details to anna.pancanti@gbs-institute.com