Geschäftsprozess-basiertes Rechnungswesen - Schäffer

978-3-7910-3090-6 Küting/Snabe/Rösinger/Wirth, Geschäftsprozessbasiertes Rechnungswesen/2. Auflage
© 2011 Schäffer-Poeschel Verlag (www.schaeffer-poeschel.de)
;,,,
,QKDOWVYHU]HLFKQLV
9RUZRUW ]XU $XIODJH 9
9RUZRUW ]XU $XIODJH9,,
$XWRUHQYHU]HLFKQLV ,;
.RQ]HSWLRQGHV%XFKV;,
,QKDOWVYHU]HLFKQLV;,,,
$EELOGXQJVYHU]HLFKQLV ;;9,,
$ENU]XQJVYHU]HLFKQLV ;;;9,,
$
.RQ]HSWH HLQHVJHVFKlIWVSUR]HVVEDVLHUWHQ
5HFKQXQJVZHVHQV
(LQOHLWXQJ 6$3 %XVLQHVV %\'HVLJQ ± HLQH 2Q'HPDQG/|VXQJ
%HWULHEVZLUWVFKDIWOLFKH.RQILJXUDWLRQ 6WDPPGDWHQ
'LH8QWHUQHKPHQVRUJDQLVDWLRQ
*HVFKlIWVSDUWQHU 3URGXNWH %HWULHEVZLUWVFKDIWOLFKH*UXQGVWUXNWXUHLQHV
JHVFKlIWVSUR]HVVEDVLHUWHQ5HFKQXQJVZHVHQV *HVFKlIWVSUR]HVVHXQG *HVFKlIWVYRUIlOOH 6WUXNWXUGHV&DVK )ORZ0DQDJHPHQWV
6WUXNWXUGHVH[WHUQHQXQGLQWHUQHQ5HFKQXQJVZHVHQV 'HU0LWDUEHLWHU LP0LWWHOSXQNW :RUN &HQWHU XQG %HUHFKWLJXQJ
:RUN )ORZXQG $XIJDEHQ $QSDVVEDUNHLW XQG (UZHLWHUEDUNHLW GHV 6\VWHPV 9HUlQGHUXQJGHU5ROOHHLQHV 0LWDUEHLWHUV
%
0|JOLFKNHLW]XU +DUPRQLVLHUXQJGHV5HFKQXQJVZHVHQV
LQ GHU8PJHEXQJHLQHV (LQNUHLVV\VWHPV
(LQIKUXQJ 7UDGLWLRQHOOH=ZHLWHLOXQJGHV5HFKQXQJVZHVHQVGHXWVFKHU
8QWHUQHKPHQ
=LHOH GHVH[WHUQHQ 5HFKQXQJVZHVHQV
=LHOH GHVLQWHUQHQ 5HFKQXQJVZHVHQV
,QWHUQDWLRQDOLVLHUXQJGHU5HFKQXQJVOHJXQJXQG%LO0R*
DOV$XVJDQJVSXQNWGHU +DUPRQLVLHUXQJ
;,9
,QKDOWVYHU]HLFKQLV
$QDO\VHGHU9RUXQG1DFKWHLOHYRQ
+DUPRQLVLHUXQJVEHVWUHEXQJHQ LP 5HFKQXQJVZHVHQ
9RUEHPHUNXQJHQ
1DFKWHLOHXQG .ULWLN $EKlQJLJNHLWGHULQWHUQHQ6WHXHUXQJYRQGHUH[WHUQHQ
1RUPHQVHW]XQJ %HHLQIOXVVXQJGHULQWHUQHQ6WHXHUXQJGXUFKELODQ]SROLWLVFKH
0D‰QDKPHQ
1LFKWHLQEH]LHKXQJNDONXODWRULVFKHU .RVWHQ
)HKOHQGH$EVFKRWWXQJGHVLQWHUQHQ5HFKQXQJVZHVHQV
QDFKDX‰HQ 'XUFK VWHXHUOLFKH 9RUVFKULIWHQ YHUIlOVFKWH 'DWHQEDVLV
9RUWHLOH
9HUVWlQGOLFKNHLWXQGLQWHUQH.RPPXQL]LHUEDUNHLW 9HUHLQIDFKXQJXQG .RVWHQHIIL]LHQ]
9HUULQJHUXQJYRQ 0DQLSXODWLRQVVSLHOUlXPHQ =ZLVFKHQID]LW
8PVHW]XQJGHV(LQNUHLVV\VWHPVLQ6$3%XVLQHVV%\'HVLJQ =XVDPPHQIDVVXQJ XQG)D]LW &
%LODQ]LHUXQJXQG%HZHUWXQJQDFKXQWHUVFKLHGOLFKHQ
5HFKQXQJVOHJXQJVQRUPHQ
&KDQFHQHLQHUSDUDOOHOHQ%LODQ]LHUXQJGXUFKGHQ:HJIDOO
GHUXPJHNHKUWHQ0D‰JHEOLFKNHLWQDFK%LO0R* &KDQFH HLQHUSDUDOOHOHQ%LODQ]LHUXQJDXIJUXQG
GHU1RWZHQGLJNHLW]XUHOHNWURQLVFKHQhEHUPLWWOXQJYRQ%LODQ]
XQG*X9
3DUDOOHOH%LODQ]LHUXQJDXIJUXQG LQWHUQDWLRQDOHU
5HFKQXQJVOHJXQJVQRUPHQ
/DWHQWH6WHXHUQ
.RQ]HSWLRQGHU ODWHQWHQ 6WHXHUDEJUHQ]XQJ $NWLYHODWHQWH6WHXHUQ
3DVVLYHODWHQWH6WHXHUQ $QVDW]XQG%HZHUWXQJ ODWHQWHU6WHXHUQ 0|JOLFKH 'LYHUJHQ]HQ ]ZLVFKHQ +DQGHOV XQG 6WHXHUELODQ]
8QWHUVFKLHGHEHL GHQ$QVDW]YRUVFKULIWHQ $NWLYD
6HOEVWHUVWHOOWHLPPDWHULHOOH9HUP|JHQVJHJHQVWlQGH
GHV $QODJHYHUP|JHQV 'LVDJLR
5HFKQXQJVDEJUHQ]XQJVSRVWHQIUDOV$XIZDQGEHUFNVLFKWLJWH
=|OOHXQG9HUEUDXFKVWHXHUQVRZLH8PVDW]VWHXHU
DXI$Q]DKOXQJHQ
,QKDOWVYHU]HLFKQLV
$NWLYLHUXQJ DQVFKDIIXQJVQDKHU$XIZHQGXQJHQ EHL*HElXGHQ
3KDVHQJOHLFKH $NWLYLHUXQJ YRQ 'LYLGHQGHQIRUGHUXQJHQ
6DOGLHUXQJYRQ$OWHUVYHUVRUJXQJVYHUSIOLFKWXQJHQ
PLWGHP 3ODQYHUP|JHQ
=XVDPPHQIDVVHQGHUhEHUEOLFN
3DVVLYD
5FNVWHOOXQJHQ 5FNODJHQ
=XVDPPHQIDVVHQGHUhEHUEOLFN
8QWHUVFKLHGHEHLGHQ%HZHUWXQJVYRUVFKULIWHQ +HUVWHOOXQJVNRVWHQ 5FNVWHOOXQJVEHZHUWXQJ
%HZHUWXQJYRQ VRQVWLJHQ 5FNVWHOOXQJHQ
%HZHUWXQJYRQ3HQVLRQVUFNVWHOOXQJHQ 3ODQPl‰LJH$EVFKUHLEXQJHQ
$X‰HUSODQPl‰LJH$EVFKUHLEXQJHQ
:lKUXQJVXPUHFKQXQJ
=XVDPPHQIDVVHQGHUhEHUEOLFN
8PVHW]XQJGHUSDUDOOHOHQ5HFKQXQJVOHJXQJLQ6$3%XVLQHVV
%\'HVLJQ
'
0RGHOOLHUXQJ HLQHV %HLVSLHOXQWHUQHKPHQV
(LQIKUXQJLQGDV )DOOEHLVSLHO %HWULHEVZLUWVFKDIWOLFKH.RQILJXUDWLRQ $EOHLWHQGHV/|VXQJVXPIDQJV .RQWHQILQGXQJ
8QWHUQHKPHQVRUJDQLVDWLRQ (LQULFKWHQ GHU 8QWHUQHKPHQVRUJDQLVDWLRQ
9HUNDXIVRUJDQLVDWLRQ XQG9HUWULHEVZHJH
%HGHXWXQJGHV)XQNWLRQVEHUHLFKVHLQHU.RVWHQVWHOOH
IUGDV 5HFKQXQJVZHVHQ
6WDPPGDWHQ 0DWHULDOXQG 6HUYLFH *HVFKlIWVSDUWQHU /LHIHUDQWHQXQG.XQGHQ %DQNHQXQG )LQDQ]EHK|UGHQ 'LHQVWOHLVWHUXQG 0LWDUEHLWHU 5HVVRXUFHQ .RQWUDNWHXQG 3UHLVOLVWHQ
;9
;9,
,QKDOWVYHU]HLFKQLV
(
3ODQXQJXQG %XGJHWLHUXQJ DOV 7HLO GHU
8QWHUQHKPHQVVWHXHUXQJ %HWULHEVZLUWVFKDIWOLFKH *UXQGODJHQ
8QWHUQHKPHQVSODQXQJ *UXQGVWUXNWXUGHV 3ODQXQJVSUR]HVVHV (EHQHQGHU 3ODQXQJ
3ODQXQJXQG8QWHUQHKPHQVRUJDQLVDWLRQ
)LQDQ]NHQQ]DKOHQDOV ]HQWUDOH 3ODQJU|‰HQ
%XGJHWLHUXQJDOVPRQHWlUHU%HVWDQGWHLOGHV8QWHUQHKPHQV
3ODQXQJVSUR]HVVHV
=LHOHXQG $XIJDEHQGHU%XGJHWLHUXQJ
6WUXNWXUHLQHV %XGJHWLHUXQJVV\VWHPV
)LQDQ]SODQ (UJHEQLVXQG %LODQ]SODQXQJ %HVFKUHLEXQJ GHV %HLVSLHOVDFKYHUKDOWV $EVDW]SODQXQJ
3HUVRQDO,QYHVWLWLRQV%HVFKDIIXQJVXQG
3URGXNWLRQVSODQXQJ
9HUZDOWXQJV9HUWULHEVNRVWHQ XQG)RUVFKXQJVXQG
(QWZLFNOXQJVEXGJHW (UJHEQLV )LQDQ]XQG %LODQ]SODQXQJ 8QWHUQHKPHQVSODQXQJ LQ 6$3 %XVLQHVV %\'HVLJQ
$EVDW]SODQXQJ
.RVWHQVWHOOHQ(UJHEQLV XQG%LODQ]SODQXQJ )
'DUVWHOOXQJGHU*HVFKlIWVSUR]HVVHXQG$EOHLWXQJ GHU
UHFKQXQJVZHVHQUHOHYDQWHQ'DWHQ
%HVFKDIIXQJVSUR]HVV %HWULHEVZLUWVFKDIWOLFKH*UXQGODJHQ
9RUEHPHUNXQJ
%HVWHOOXQJ DOVVFKZHEHQGHV*HVFKlIW $QVFKDIIXQJV]HLWSXQNWEHL:DUHQOLHIHUXQJE]Z
/HLVWXQJVHUEULQJXQJ
$QVFKDIIXQJVNRVWHQ
,QKDOWGHU $QVFKDIIXQJVNRVWHQ 9HUIDKUHQ]XU(UPLWWOXQJGHU $QVFKDIIXQJVNRVWHQ %HVWDQGWHLOHGHU $QVFKDIIXQJVNRVWHQ
$QVFKDIIXQJVSUHLV $QVFKDIIXQJVQHEHQNRVWHQ 1DFKWUlJOLFKH$QVFKDIIXQJVNRVWHQ $QVFKDIIXQJVNRVWHQPLQGHUXQJHQ 6RQGHUSUREOHPDWLN $QVFKDIIXQJVNRVWHQLQ )UHPGZlKUXQJ
,QKDOWVYHU]HLFKQLV
%LODQ]LHOOH.RQVHTXHQ]HQGHU7HLOSUR]HVVH
/LHIHUDQWHQUHFKQXQJXQG =DKOXQJVDXVJDQJ %HVRQGHUKHLWHQEHLP=XJDQJYRQ $QODJHQJWHUQ .RVWHQVWHOOHQ]XRUGQXQJYRQ$QODJHQJWHUQ %HVWLPPXQJ GHU1XW]XQJVGDXHU
$EVFKUHLEXQJVPHWKRGH %HKDQGOXQJYRQJHULQJZHUWLJHQ:LUWVFKDIWVJWHUQ
LQ+DQGHOVXQG6WHXHUELODQ] %HVFKDIIXQJVFRQWUROOLQJ $XIJDEHQXQG =LHOVHW]XQJHQ
0DWHULDO E]Z 3URGXNWDQDO\VH
/LHIHUDQWHQDQDO\VH
$EZHLFKXQJVDQDO\VH /LTXLGLWlWVDVSHNWHGHV%HVFKDIIXQJVSUR]HVVHV 'DUVWHOOXQJGHUEHVFKDIIXQJVUHOHYDQWHQ*HVFKlIWVYRUIlOOH
GHV)DOOEHLVSLHOV
$EELOGXQJGHU%HVFKDIIXQJVSUR]HVVHLQ6$3%XVLQHVV
%\'HVLJQ
%HVFKDIIXQJVSUR]HVVGHU+DQGHOVZDUH %HVFKDIIXQJGHU+DQGHOVZDUH %HVWHOOXQJDOV$XVJDQJVSXQNW GHV%HVFKDIIXQJVYRUJDQJV :DUHQHLQJDQJ GHU EHVWHOOWHQ +DQGHOVZDUH (UIDVVXQJGHU /LHIHUDQWHQUHFKQXQJ %H]DKOXQJGHUDQJHVFKDIIWHQ+DQGHOVZDUH 9HUZDOWXQJGHU /LHIHUDQWHQYHUELQGOLFKNHLWHQ %H]DKOXQJGXUFK %DQNEHUZHLVXQJ
$QOHJHQHLQHV .RQWRDXV]XJV
:(5(9HUUHFKQXQJVODXI
)XQNWLRQGHV :(5(/DXIV
%XFKXQJVORJLN GHV :(5(/DXIV
$QDO\VHGHV %HVFKDIIXQJVSUR]HVVHV
(UPLWWOXQJGHU%HVFKDIIXQJVDXVJDEHQIU3URGXNWHXQG
$EZHLFKXQJVDQDO\VH /DJHUEHVWDQGVHQWZLFNOXQJ /LTXLGLWlWVDVSHNWHGHV%HVFKDIIXQJVSUR]HVVHV $QODJHQEHVFKDIIXQJ %HVFKUHLEXQJ GHV $QODJHQ]XJDQJV XQGGHVVHQ.RQWHQILQGXQJ
6WDPPGDWHQGHU$QODJH
=XVDPPHQIDVVHQGH'DUVWHOOXQJ LQ%LODQ]XQG*HZLQQXQG
9HUOXVWUHFKQXQJ /DJHUIHUWLJXQJ %HWULHEVZLUWVFKDIWOLFKH*UXQGODJHQ
9RUEHPHUNXQJHQ
.RVWHQUHFKQXQJDOV'DWHQTXHOOHIUGDVH[WHUQH
5HFKQXQJVZHVHQ
;9,,
;9,,,
,QKDOWVYHU]HLFKQLV
.RVWHQDUWHQUHFKQXQJ
.RVWHQVWHOOHQUHFKQXQJ .RVWHQWUlJHUUHFKQXQJ +HUVWHOOXQJVNRVWHQ *UXQGODJHQ =ZHFN GHU+HUVWHOOXQJVNRVWHQ .RPSRQHQWHQGHU +HUVWHOOXQJVNRVWHQ
8QWHUVFKHLGXQJ ]ZLVFKHQ (LQ]HO XQG *HPHLQNRVWHQ
(LQ]HONRVWHQ *HPHLQNRVWHQ
hEHUVLFKW]XU:HUWREHU XQG XQWHUJUHQ]H
=XOlVVLJNHLWHLQHU 3ODQNRVWHQUHFKQXQJ 3URGXNWLRQVFRQWUROOLQJ hEHUEOLFN .RVWHQRULHQWLHUWHV 3URGXNWLRQVFRQWUROOLQJ
=HLWRULHQWLHUWHV 3URGXNWLRQVFRQWUROOLQJ 4XDOLWlWVRULHQWLHUWHV3URGXNWLRQVFRQWUROOLQJ 'DUVWHOOXQJGHU*HVFKlIWVYRUIlOOHGHU/DJHUIHUWLJXQJ
LP)DOOEHLVSLHO
9RUVWHOOXQJGHV3URGXNWLRQVDEODXIV 'DWHQJUXQGODJH ]XU (UPLWWOXQJ GHU +HUVWHOOXQJVNRVWHQ
$EELOGXQJ GHU /DJHUIHUWLJXQJ LQ 6$3 %XVLQHVV %\'HVLJQ
9RUEHPHUNXQJHQ
$NWLYLHUXQJYRQ+HUVWHOOXQJVNRVWHQ 'LH)XQNWLRQGHV.RQWRV :DUHLQ$UEHLW 0DWHULDOHQWQDKPHIUGLH 3URGXNWLRQ
(LQVDW]YRQ 5HVVRXUFHQLQ GHU /DJHUIHUWLJXQJ (UPLWWOXQJGHV .RVWHQVDW]HVYRQ5HVVRXUFHQ
5FNPHOGXQJ GHU 5HVVRXUFH DXI GHQ )HUWLJXQJVDXIWUDJ :DUHQHLQJDQJ GHV 2XWSXW0DWHULDOVLP /DJHU
9HUZHQGXQJ YRQ =XVFKOlJHQ 9HUUHFKQXQJ YRQ *HPHLQNRVWHQ EHU =XVFKOlJH
%HUFNVLFKWLJXQJ YRQ 8PODJHQ +HUVWHOOXQJVNRVWHQGHV SURGX]LHUWHQ 6FKXKV
$EUHFKQXQJVODXIGHV.RQWRV :DUHLQ$UEHLW $QDO\VHGHV /DJHUIHUWLJXQJVSUR]HVVHV =XVDPPHQIDVVHQGH'DUVWHOOXQJ LQ%LODQ]XQG*HZLQQXQG
9HUOXVWUHFKQXQJ $XIWUDJVDEZLFNOXQJ
%HWULHEVZLUWVFKDIWOLFKH*UXQGODJHQ
9RUEHPHUNXQJ
([WHUQH5HFKQXQJVOHJXQJ
.XQGHQDXIWUDJDOV VFKZHEHQGHV*HVFKlIW
*HZLQQUHDOLVLHUXQJEHL:DUHQOLHIHUXQJ E]Z *HIDKUEHUJDQJ .XQGHQUHFKQXQJ XQG=DKOXQJVHLQJDQJ ,QKDOWVYHU]HLFKQLV
9HUWULHEVFRQWUROOLQJ
hEHUEOLFN 9HUWULHEVHUIROJVUHFKQXQJHQ
.RVWHQWUlJHU]HLWUHFKQXQJ 'HFNXQJVEHLWUDJVUHFKQXQJ
9HUWULHEVNHQQ]DKOHQV\VWHPH /LTXLGLWlWVDVSHNWH GHV $XIWUDJVDEZLFNOXQJVSUR]HVVHV
'DUVWHOOXQJGHUDEVDW]UHOHYDQWHQ*HVFKlIWVYRUIlOOH
GHV)DOOEHLVSLHOV
$EELOGXQJGHU $XIWUDJVDEZLFNOXQJLQ6$3 %XVLQHVV %\'HVLJQ 9HUNDXIYRQ3URGXNWHQXQGGHUHQ%H]DKOXQJ 'DUVWHOOXQJGHV $XIWUDJVDEZLFNOXQJVSUR]HVVHV *HVFKlIWVDQEDKQXQJVSKDVH (LQJDQJHLQHV .XQGHQDXIWUDJV (UIDVVXQJGHU DXVJHKHQGHQ/LHIHUXQJ .XQGHQUHFKQXQJ
=DKOXQJVHLQJDQJ 9HUZDOWXQJYRQ )RUGHUXQJHQ
.RQWRDXV]XJXQG=DKOXQJVDXVJOHLFK
(UO|VDEJUHQ]XQJXQG (UO|VUHDOLVLHUXQJ )XQNWLRQGHU (UO|VDEJUHQ]XQJ %XFKXQJVORJLNGHV (UO|VDEJUHQ]XQJVODXIV
$QDO\VHGHV$XIWUDJVDEZLFNOXQJVSUR]HVVHV
$XIWUDJVHLQJDQJVYROXPHQXQG'XUFKODXI]HLW
YRQ.XQGHQDXIWUlJHQ .XU]IULVWLJH(UJHEQLVUHFKQXQJ /LTXLGLWlWVDVSHNWH GHV $XIWUDJVDEZLFNOXQJVSUR]HVVHV
=XVDPPHQIDVVHQGH'DUVWHOOXQJ LQ%LODQ]XQG*HZLQQXQG
9HUOXVWUHFKQXQJ 3URMHNWPDQDJHPHQW %HWULHEVZLUWVFKDIWOLFKH*UXQGODJHQ
9RUEHPHUNXQJHQ
.XQGHQSURMHNW 3URMHNWSODQXQJXQG.XQGHQDXIWUDJ
3URMHNWGXUFKIKUXQJ
3URMHNWIDNWXULHUXQJXQG =DKOXQJVHLQJDQJ )RUVFKXQJVXQG(QWZLFNOXQJVSURMHNW +DQGHOVUHFKWOLFKHV$NWLYLHUXQJVZDKOUHFKW $NWLYLHUXQJVIlKLJNHLW DOV 9RUDXVVHW]XQJ ]XU %LODQ]LHUXQJ
$QVDW] XQG%HZHUWXQJYRQVHOEVWJHVFKDIIHQHQLPPDWHULHOOHQ
9HUP|JHQVJHJHQVWlQGHQGHV$QODJHYHUP|JHQV
)RUVFKXQJVXQG(QWZLFNOXQJVSURMHNWDOV*UXQGODJH
IU&RQWUROOLQJ XQG %LODQ]LHUXQJ
'DUVWHOOXQJGHUUHOHYDQWHQ*HVFKlIWVYRUIlOOHGHV)DOOEHLVSLHOV
]XU$EELOGXQJ YRQ 3URMHNWHQ ;,;
;;
,QKDOWVYHU]HLFKQLV
.XQGHQSURMHNW'HVLJQEHUDWXQJ ,QWHUQHV)RUVFKXQJVXQG(QWZLFNOXQJVSURMHNW $EELOGXQJ YRQ 3URMHNWHQ LQ 6$3 %XVLQHVV %\'HVLJQ
.XQGHQSURMHNWH .XQGHQDXIWUDJXQG3URMHNWNDONXODWLRQ]XUhEHUSUIXQJ
GHU $XIWUDJVDQQDKPH 3URMHNWGXUFKIKUXQJ
(UPLWWOXQJYRQ.RVWHQVlW]HQXQG/HLVWXQJVYHUUHFKQXQJ
DXI GDV3URMHNW
=HLW XQG $XVJDEHQHUIDVVXQJ YRQ LQWHUQHQ 0LWDUEHLWHUQ
%HVFKDIIXQJXQG(LQELQGXQJYRQH[WHUQHQ $UEHLWVUHVVRXUFHQ 3URMHNWIDNWXULHUXQJXQG =DKOXQJVHLQJDQJ 5HSRUWLQJ]X.RVWHQDEZHLFKXQJHQ XQG 3URMHNWHUJHEQLV
$EELOGXQJGHVLQWHUQHQ)RUVFKXQJVXQG(QWZLFNOXQJVSURMHNWV
LQ6$3%XVLQHVV%\'HVLJQ 9RUEHPHUNXQJHQ
3URMHNWGXUFKIKUXQJ
$NWLYLHUXQJYRQDQJHIDOOHQHQ$XIZHQGXQJHQ 'RNXPHQWDWLRQ GHV )RUVFKXQJV XQG (QWZLFNOXQJVSURMHNWV
=XVDPPHQIDVVHQGH'DUVWHOOXQJ LQ%LODQ]XQG*HZLQQXQG
9HUOXVWUHFKQXQJ $EVFKOXVVSUR]HVV %HWULHEVZLUWVFKDIWOLFKH*UXQGODJHQ
9RUEHPHUNXQJHQ
9RUEHUHLWHQGH$EVFKOXVVDUEHLWHQ (UIDVVXQJXQGhEHUSUIXQJDOOHURSHUDWLYHQ*HVFKlIWVYRUIlOOH
GHU DEVFKOXVVUHOHYDQWHQ3HULRGH
,QYHQWXU 6DOGHQEHVWlWLJXQJ 8PVDW]VWHXHUPHOGXQJ %HZHUWHQGH$EVFKOXVVDUEHLWHQ
3HULRGHQJHUHFKWH (UO|VUHDOLVLHUXQJ )ROJHEHZHUWXQJ GHV $QODJHYHUP|JHQV
3ODQPl‰LJH$EVFKUHLEXQJHQ
$X‰HUSODQPl‰LJH$EVFKUHLEXQJHQ
5HFKQXQJVDEJUHQ]XQJVSRVWHQ
)ROJHEHZHUWXQJ YRQ 9HUELQGOLFKNHLWHQLQ )UHPGZlKUXQJ %XFKXQJYRQ=XVFKOlJHQXQG 8PODJHQ )ROJHEHZHUWXQJ GHV 8PODXIYHUP|JHQV 9RUUlWH
)RUGHUXQJHQ
%LOGXQJYRQ 5FNVWHOOXQJHQ 5HSRUWLQJ 'DUVWHOOXQJ GHU *HVFKlIWVYRUIlOOHGHV %HLVSLHOVDFKYHUKDOWV $EELOGXQJGHV$EVFKOXVVSUR]HVVHVLQ 6$3 %XVLQHVV %\'HVLJQ ,QKDOWVYHU]HLFKQLV
3ODQXQJGHV$EVFKOXVVHVPLWKLOIHGHV&ORVLQJ&RFNSLWV XQG
.RQ]HSW GHU3HULRGHQVSHUUHQ 9RUEHUHLWHQGH$EVFKOXVVDUEHLWHQ (UIDVVXQJXQGhEHUSUIXQJDOOHURSHUDWLYHQ *HVFKlIWVYRUIlOOH ,QYHQWXUXQG 6DOGHQEHVWlWLJXQJHQ
8PVDW]VWHXHUYRUDQPHOGXQJ XQGHUNOlUXQJ 1HEHQEXFKDEVWLPPXQJ %HZHUWHQGH$EVFKOXVVDUEHLWHQ hEHUEOLFN $EVFKOXVVDUEHLWHQ LP %HUHLFK GHU )RUGHUXQJHQ
$EVFKOXVVDUEHLWHQ LP %HUHLFKGHV 9RUUDWVYHUP|JHQV
+DXSWEXFKDEVWLPPXQJ
$EVFKOXVVUHSRUWLQJYRQ%LODQ]XQG*HZLQQXQG
9HUOXVWUHFKQXQJ %LODQ]LHUXQJYRQODWHQWHQ6WHXHUQ
hEHUOHLWXQJYRP 8PVDW]NRVWHQYHUIDKUHQ
DXI GDV *HVDPWNRVWHQYHUIDKUHQ
6DOGRYRUWUDJ
$EVFKOLH‰HQGH %LODQ] XQG *HZLQQXQG9HUOXVWUHFKQXQJ
%HULFKWVZHVHQ]XU5HFKQXQJVOHJXQJXQG
8QWHUQHKPHQVVWHXHUXQJ hEHUEOLFN &DVKXQG/LTXLGLWlWVPDQDJHPHQWDOVZHVHQWOLFKHU
6WHXHUXQJVDVSHNW %HWULHEVZLUWVFKDIWOLFKH*UXQGODJHQ
1RWZHQGLJNHLWHLQHVLQWHJULHUWHQ&DVKXQG
/LTXLGLWlWVPDQDJHPHQWV $XIJDEHQ GHV &DVK XQG /LTXLGLWlWVPDQDJHPHQWV
&DVKXQG /LTXLGLWlWVPDQDJHPHQW]XU.ULVHQSUlYHQWLRQ
&DVKXQG /LTXLGLWlWVPDQDJHPHQW ]XU2SWLPLHUXQJ
HLQHV5DWLQJV $EELOGXQJGHV&DVKXQG/LTXLGLWlWVPDQDJHPHQWV
LQ6$3%XVLQHVV%\'HVLJQ
%HULFKWHGHV H[WHUQHQ5HFKQXQJVZHVHQV
%HWULHEVZLUWVFKDIWOLFKH*UXQGODJHQ
%HULFKWHGHVH[WHUQHQ5HFKQXQJVZHVHQV
LQ6$3%XVLQHVV%\'HVLJQ
$UEHLWHQ PLW GHQ %HULFKWHQ $EVFKOXVVEH]RJHQH%HULFKWHUVWDWWXQJ
%LODQ]XQG *HZLQQXQG 9HUOXVWUHFKQXQJ (LJHQNDSLWDOVSLHJHOXQG.DSLWDOIOXVVUHFKQXQJ $QKDQJVSH]LILVFKH %HULFKWHUVWDWWXQJ
8QWHUVWW]HQGH%HULFKWHIU GDV 5HFKQXQJVZHVHQ %HULFKWH]XU 8QWHUQHKPHQVVWHXHUXQJ %HWULHEVZLUWVFKDIWOLFKH*UXQGODJHQ
;;,
;;,,
,QKDOWVYHU]HLFKQLV
%HULFKWHLQ 6$3%XVLQHVV%\'HVLJQ .XU]IULVWLJH(UJHEQLVUHFKQXQJ3URILW&HQWHU%HULFKWXQG
'HFNXQJVEHLWUDJVUHFKQXQJ 6FKOVVHONHQQ]DKOHQGHV8QWHUQHKPHQV
'DVKERDUG0RQLWRULQJGHU 3URILWDELOLWlW 3ODQ,VW$QDO\VHYRQ%LODQ] *X9 XQG .RVWHQVWHOOH $EVFKOXVVSUIXQJ3UIXQJ ELV]XP %HOHJ
*
.RQVROLGLHUXQJ 5HFKQXQJVOHJXQJXQG8QWHUQHKPHQVVWHXHUXQJLQHLQHP
.RQ]HUQXPIHOG %HWULHEVZLUWVFKDIWOLFKH*UXQGODJHQGHU
.RQ]HUQUHFKQXQJVOHJXQJ QDFK +*%
.RQVROLGLHUXQJVDQIRUGHUXQJHQLPhEHUEOLFN 3IOLFKW]XU .RQ]HUQUHFKQXQJVOHJXQJ $EJUHQ]XQJ GHV.RQVROLGLHUXQJVNUHLVHV
$EJUHQ]XQJ GHV.RQVROLGLHUXQJVNUHLVHVLH6
$EJUHQ]XQJ GHV.RQVROLGLHUXQJVNUHLVHVLZ6
*HPHLQVFKDIWVXQWHUQHKPHQ
$VVR]LLHUWH8QWHUQHKPHQ =XVDPPHQIDVVHQGHUhEHUEOLFN
'HU.RQVROLGLHUXQJYRUJHODJHUWH0D‰QDKPHQ hEHUEOLFN 9HUHLQKHLWOLFKXQJ GHU .RQ]HUQDEVFKOXVVVWLFKWDJH
0D‰JHEOLFKNHLW GHV %LODQ]LHUXQJVXQG%HZHUWXQJVUDKPHQV
GHV0XWWHUXQWHUQHKPHQV :lKUXQJVXPUHFKQXQJ 9ROONRQVROLGLHUXQJ±GLH(LQEH]LHKXQJYRQ
7RFKWHUXQWHUQHKPHQ
6FKXOGHQNRQVROLGLHUXQJ *HJHQVWDQGXQG8PIDQJGHU6FKXOGHQNRQVROLGLHUXQJ
$XIUHFKQXQJVGLIIHUHQ]HQ
(QWVWHKXQJYRQ $XIUHFKQXQJVGLIIHUHQ]HQ
%HKDQGOXQJ YRQ $XIUHFKQXQJVGLIIHUHQ]HQ
)RUGHUXQJHQ XQG 9HUELQGOLFKNHLWHQ LQ IUHPGHU :lKUXQJ
%HUFNVLFKWLJXQJODWHQWHU 6WHXHUQ
=ZLVFKHQHUJHEQLVHOLPLQLHUXQJ *UXQGODJHQ =ZLVFKHQHUJHEQLVHOLPLQLHUXQJLP9RUUDWVYHUP|JHQ =ZLVFKHQHUJHEQLVHOLPLQLHUXQJ LP $QODJHYHUP|JHQ %HUFNVLFKWLJXQJODWHQWHU 6WHXHUQ
$XIZDQGVXQG(UWUDJVNRQVROLGLHUXQJ
*UXQGODJHQ ,QQHQXPVDW]HOLPLQLHUXQJ ,QKDOWVYHU]HLFKQLV
.RQVROLGLHUXQJ DQGHUHU (UWUlJH XQG $XIZHQGXQJHQ .RQVROLGLHUXQJYRQ(UJHEQLVEHUQDKPHQ
%HUFNVLFKWLJXQJODWHQWHU 6WHXHUQ .DSLWDONRQVROLGLHUXQJ =ZHFNGHU .DSLWDONRQVROLGLHUXQJ
.DSLWDONRQVROLGLHUXQJ QDFK GHU (UZHUEVPHWKRGH
*UXQGNRQ]HSWLRQ
1HXEHZHUWXQJVPHWKRGH %HUFNVLFKWLJXQJODWHQWHU 6WHXHUQ =XVDPPHQIDVVHQGHUhEHUEOLFN
(UZHLWHUXQJGHV%HLVSLHOVDFKYHUKDOWV XP HLQH .RQVROLGLHUXQJ (LQIKUXQJLQ GDV)DOOEHLVSLHO ,QQHUNRQ]HUQOLFKH*HVFKlIWVYRUIlOOH
/LHIHUXQJYRQ+DOEIDEULNDWHQ 9HUPLHWXQJHLQHV 0DUNHQUHFKWV
.RQVROLGLHUXQJVYRUEHUHLWXQJ PLW6$3%XVLQHVV %\'HVLJQ 0RGHOOLHUXQJ GHU0XOWLFRPSDQ\6WUXNWXU
3IOHJHGHU 3DUWQHULQIRUPDWLRQHQ 9HUHLQKHLWOLFKXQJYRQ%LODQ]LHUXQJ %HZHUWXQJ XQG $XVZHLV 3DUDOOHOH 5HFKQXQJVOHJXQJ LQ HLQHP .RQ]HUQXPIHOG 8PVHW]XQJHLQHU.RQ]HUQELODQ]LHUXQJVULFKWOLQLH
LQ6$3%XVLQHVV%\'HVLJQ
9HUZHQGXQJHLQHVHLQKHLWOLFKHQ.RQWHQSODQV 9HUZDOWXQJYRQ VWLOOHQ5HVHUYHQ XQG /DVWHQ 9RUEHPHUNXQJHQ
9HUZHQGXQJ YRQ %HZHUWXQJVVLFKWHQ
.RQVROLGLHUXQJVYRUEHUHLWXQJLQ$EKlQJLJNHLW
YRQGHQ .RQVROLGLHUXQJVPD‰QDKPHQ
'DWHQEHUHLWVWHOOXQJ6FKXOGHQNRQVROLGLHUXQJ 3DUWQHUEH]RJHQH (UIDVVXQJ
%HULFKWVZHVHQ ]XU ,QWHUFRPSDQ\$EVWLPPXQJ
hEHUPLWWOXQJGHU7UDQVDNWLRQVZlKUXQJHQ
'DWHQEHUHLWVWHOOXQJ=ZLVFKHQHUJHEQLVHOLPLQLHUXQJ
LP9RUUDWVYHUP|JHQ
hEHUEOLFN %HVWDQGVGDWHQ /LHIHUGDWHQ 'DWHQEHUHLWVWHOOXQJ$XIZDQGV XQG (UWUDJVNRQVROLGLHUXQJ ,QQHQXPVDW]HOLPLQLHUXQJ .RQVROLGLHUXQJ DQGHUHU (UWUlJH XQG $XIZHQGXQJHQ 'DWHQEHUHLWVWHOOXQJ.DSLWDONRQVROLGLHUXQJ %HWHLOLJXQJVYHUKlOWQLVVH (LJHQNDSLWDOYHUKlOWQLVVH =XVDPPHQIDVVHQGH'DUVWHOOXQJ GHV%HLVSLHOVDFKYHUKDOWV
LQ%LODQ]XQG*HZLQQ XQG9HUOXVWUHFKQXQJ ;;,,,
;;,9
,QKDOWVYHU]HLFKQLV
9RUEHUHLWXQJGHU(UVWNRQVROLGLHUXQJLP (UZHUEV]HLWSXQNW
$EELOGXQJ GHU LQQHUNRQ]HUQOLFKHQ*HVFKlIWVYRUIlOOH
LP*HVFKlIWVMDKU /LHIHUXQJYRQ+DOEIDEULNDWHQ 9HUPLHWXQJHLQHV 0DUNHQUHFKWV
=XVDPPHQIDVVHQGH 'DUVWHOOXQJ .RQ]HUQDEVFKOXVVHUVWHOOXQJ
9RUEHPHUNXQJHQXQG hEHUEOLFN .RQVROLGLHUXQJVYRUEHUHLWXQJLQVEHVRQGHUH'DWHQH[WUDNWLRQ
DXV 6$3%XVLQHVV %\'HVLJQ 'DWHQEHUQDKPH
'DWHQHUIDVVXQJ
'DWHQPDSSLQJ 'DWHQDQUHLFKHUXQJXQG 'DWHQYDOLGLHUXQJ .RQVROLGLHUXQJ :lKUXQJVXPUHFKQXQJ 6FKXOGHQNRQVROLGLHUXQJ 6FKXOGHQNRQVROLGLHUXQJLP %HLVSLHOVDFKYHUKDOW ([NXUV6FKXOGHQNRQVROLGLHUXQJLQHLQHP
0HKUSHULRGHQVDFKYHUKDOW ,QQHQXPVDW]XQG=ZLVFKHQHUJHEQLVHOLPLQLHUXQJ
LP9RUUDWVYHUP|JHQ
,QQHQXPVDW]HOLPLQLHUXQJ =ZLVFKHQHUJHEQLVHOLPLQLHUXQJ ([NXUV=ZLVFKHQHUJHEQLVHOLPLQLHUXQJLQHLQHP
0HKUSHULRGHQVDFKYHUKDOW .RQVROLGLHUXQJ DQGHUHU (UWUlJH XQG $XIZHQGXQJHQ
.DSLWDONRQVROLGLHUXQJ (UVWNRQVROLGLHUXQJ ]XP (UZHUEV]HLWSXQNW )ROJHNRQVROLGLHUXQJ ]XP $EVFKOXVVVWLFKWDJ =XVDPPHQIDVVHQGH'DUVWHOOXQJ LQGHUNRQVROLGLHUWHQ%LODQ]
XQG*HZLQQ XQG9HUOXVWUHFKQXQJ .RQ]HUQVWHXHUXQJ %HWULHEVZLUWVFKDIWOLFKH*UXQGODJHQ
*HJHQVWDQGXQG8PIDQJGHU.RQ]HUQVWHXHUXQJ
6WHXHUXQJQDFK *HVFKlIWVEHUHLFKHQ =ZLVFKHQID]LW %HGHXWXQJYRQ6$3%XVLQHVV%\'HVLJQIUGLH
.RQ]HUQVWHXHUXQJ
'DWHQEHUHLWVWHOOXQJ IU GLH 0DQDJHPHQW.RQVROLGLHUXQJ
.RQ]HUQVWHXHUXQJLQ 6$3 %XVLQHVV %\'HVLJQ .RQ]HUQZHLWH 8PVHW]XQJGHU RSHUDWLYHQ 3ODQXQJ
$EELOGXQJHLQHU0XOWLFRPSDQ\6WUXNWXU]XU6WHXHUXQJ
LP.RQ]HUQ
,QKDOWVYHU]HLFKQLV
)D]LW /LWHUDWXUYHU]HLFKQLV 6WLFKZRUWYHU]HLFKQLV ;;9