Capital market-oriented companies primarily use their publicity for capital market communication purposes. For this reason, these companies in Germany and Europe are required to prepare financial statements according to international accounting standards, the IFRS. Nevertheless, German capital market-oriented companies still have to prepare their individual financial statements according to the commercial law principles of proper accounting (GoB). Based on this duality, the authors highlight the differences in accounting according to HGB/GoB in a problem- and example-oriented manner. The book thus provides a solid understanding of the conceptual foundations of both accounting systems and illustrates how they differ in specific accounting issues. The focus on information accounting has led to rapid changes in regulations over the last decade - now, digitalization, sustainability, and transparency are also on the agenda. These developments are clearly and understandably addressed in this fifth edition of the textbook. The new edition also looks at sustainability reporting, particularly the developments from the Corporate Sustainability Reporting Directive (CSRD), which is being implemented into German law at the time of printing. Additionally, the title examines digitalization and supplementary reporting via social media, as well as the (machine-readable) provision of financial statements and issues of transparency.