the Disclosure obligation (also known as the disclosure requirement) is the legal obligation for certain companies to make their annual financial reports available to the public. In Germany, this primarily affects corporations (GmbH, AG) and certain partnerships (GmbH & Co. KG), which must submit their documents to the electronic Federal Gazette. The purpose of this transparency regulation is to protect creditors and inform the general business community. The scope of the documents to be disclosed depends on the size of the company, which is divided into small, medium-sized and large corporations in Section 267 HGB. While large companies must publish their complete annual financial statements including management report, auditor's report and other reports, small companies enjoy considerable relief. Disclosure is the last step after the preparation of the financial reports, which is why it is directly linked to the process of Financial statements in SAP Business One is linked. Specialised financial add-ons such as the Versino Financial Suite can simplify the process by supporting data preparation for electronic transmission in the required format (e.g. XBRL).
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