The Swiss Code of Obligations?

i am searching for the full English text of "The Swiss Code of Obligations". i searched all net and no find. can anyone send me on mail or give me address of the codes.



3 Answers

  • 1 decade ago
    Favorite Answer

    Accounting provisions of the Swiss Code of Obligations (OR)

    The accounting provisions of the Swiss Code of Obligations (OR) are geared to protecting the creditor. They permit the formation of hidden reserves. Although consolidated financial reporting is a feature of the OR, the Code does not address the issue of how consolidated financial statements are to be drawn up. A new government bill is being discussed in parliament.

    In addition to the accounting provisions relating to stock corporation law (Articles 660 - 670 OR), Item 32 of the Swiss Code of Obligations contains provisions relating to commercial accounting. On December 21, 2007, the Swiss Federal Council filed a motion to restructure the provisions of Item 32 of the OR and, thus, replace the provisions relating to stock corporation law.

    A quick rundown of the current accounting provisions.

    An annual financial statement with its associated income statement, balance sheet and notes must be prepared in such a way that a company's assets and earnings can be valued as accurately as possible. The law sets out the minimum breakdown of the income statement and the balance sheet, and defines a minimum content for the notes. Valuation is based on procurement or manufacturing costs. The formation of hidden reserves is permitted. Only if doing so would portray the operating result in a much more favorable light must the notes contain a net breakdown of all hidden reserves.

    If, by way of a majority vote or any other means, a company merges one or more companies under joint management, it is obligated under Art. 663 OR to prepare a consolidated financial statement. A company can be exempted from this obligation, but only provided it remains within certain limiting criteria in two successive years (i.e. balance sheet total must be within CHF 10 m, annual sales within CHF 20 m, max. 200 average number of employees in the year). Companies that are obligated to produce a consolidated financial statement whatever the case include listed companies and those with outstanding bonds. The Swiss Code of Obligations does not, however, contain any provisions on the accounting standard according to which a consolidated financial statement must be prepared. Only the IPO laws of the SWX Swiss Exchange require that an accepted accounting standard based on the "true and fair view" principle be used (such as Swiss GAAP FER, IFRS or US GAAP).

    The changes submitted to parliament envisage embodying new accounting regulations irrespective of legal form in Item 32 of the Code. The provisions in the draft bill apply to all organizations that are required to keep books and records, and coincide largely with the existing legal regulations. Larger companies are also required to produce a cash flow statement and a management report, among other things. A company is obligated to file a consolidated financial statement if it exceeds certain limiting criteria in two successive years (i.e. balance sheet total of CHF 10 m, annual sales of CHF 20 m, average number of full-time employees in the year of 50). A new requirement of the draft bill is that consolidated financial statements must be drawn up in accordance with an accepted accounting standard (likely to be Swiss GAAP FER, IFRS or US GAAP).


  • Anonymous
    5 years ago

    Swiss accounts? I thought it was in the Camens? If your going to bash us, at least stay consistent. And I think all of us have a strong chance of having our money invested in forigien accounts via our retirement funds. Even if we don't know it. This is because it's a perfectly legal and common practice used even by the Kerry's. It didn't become a problem until you guys needed something to bash Romney with.

  • 1 decade ago

    Apart from the Federal Consitution, Swiss federal legislation is published in German, French and Italian only. However, there exist an number of unofficial translations in print or on the Internet (see links on the webpage below)

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