In German tax accounting, the going concern value (“Teilwert”) is the central measurement of asset impairment since 1934. The conceptual weaknesses of the concept have set the future of the 80-year old fiscal measurement tradition up for discussion. First, I shed light on the development of...

The materiality principle supports the information function of financial accounting as to what information could usefully be published to enhance investors' decisions. Therefore, materiality guides the entity preparing the accounts to present relevant financial information and to prevent...