Various obligations must be observed in accounting. For example, accounting rules require that the accountability of assets and liabilities and the allocation of beneficial ownership to operating assets are clearly highlighted. Accountability is based on future economic benefits, independent usability and the ability to measure independently. In the case of debt, the economic burden is particularly important. Only when all these criteria are met can assets or debts be recognised on the balance sheet.

For companies, the question of the accounting obligation is of central importance. Both the determination of profit and profit extraction and their taxation are related to this question. If there is an accounting obligation, the profit determination is based on the trade balance and the taxation on the trade balance based tax balance.

If an accounting obligation is established, the next step is to examine the recognition of the assets and liabilities to be accounted for. In this regard, the Commercial Code provides for a series of rules of approach to the balance sheet, which we would now like to examine in detail.

The question of the recognition of assets and liabilities in a balance sheet is of great importance in accounting because it depends on whether one accounts for certain objects at all. An example that is often cited here is the question of whether a passenger car that is used by an entrepreneur both for business and for private purposes is an accounting asset. The same can also be said about real estate, which an entrepreneur leaves privately to his own company. From a tax point of view, this also raises the question of a division of operations. It is clear from this that the question of whether an asset or a liability is eligible for recognition on the balance sheet, which is in fact quite simple, requires a thorough examination. This is precisely why there are certain recognition requirements for the balance sheet.