Compact presentation directly related to the business case. This work presents the fundamentals of accounting and balance sheet management in a compact and structured manner using a continuous business case. The model of double-entry bookkeeping and the core areas of accounting are explained in an understandable way for readers, showing how they influence and are applied to business success. Balancing business success to meet both corporate legal requirements and accounting policy objectives is an exciting challenge. The new edition incorporates extensive corporate law changes due to the Accounting Amendment Act - RÄG 2014 (applicable for financial years starting from January 1, 2016). Additionally, the innovations resulting from the Tax Reform Act 2015/2016 have been taken into account for the relevant topics.