Bilanzbuchhalterprüfung Practice Questions - Austria Fachprüfung Für Den Beruf Des Bilanzbuchhalters (BiBuG 2014) Exam

Assets and liabilities must be valued individually on the balance sheet; collective or average valuation (e.g. weighted average, FIFO, Festwert) is permitted only for homogeneous inventory items, low-value assets, or grouped receivables All company assets must always be lumped together into one single number on the balance sheet Individual valuation applies only to cash in hand, while all other assets must be estimated collectively The principle was abolished by the Austrian Accounting Reform Act (RÄG 2014)