Did you know that Anh Thomas is looking for the best investment worldwide? Even though there are many similarities in financial reporting rules over the world, the differences are still consequent. Let's put Vietnam aside today and have a look at Germany instead. German companies reporting is ruled by the German GAAP. One of the most frustrating difference between IFRS and German GAAP is that under German GAAP, single-entity financial statements of cash flows and statement of changes in equity are not required to be reported. However, for publicly traded companies the same rules as under IFRS apply.