Geschäftsvorfall
A Geschäftsvorfall, often translated as business transaction or business event, refers to any occurrence that affects the financial position of a business and can be reliably measured in monetary terms. It represents an exchange or change within the company's assets, liabilities, or equity. These events are the fundamental building blocks of accounting.
Geschäftsvorfälle can be broadly categorized into internal and external. External Geschäftsvorfälle involve an exchange between the
Each Geschäftsvorfall has a dual effect on the accounting equation: Assets = Liabilities + Equity. For example, when
Recording Geschäftsvorfälle is crucial for maintaining accurate financial records, preparing financial statements, and making informed business