Swiss GAAP FER focuses on the accounting and reporting of small and medium-sized organisations and groups of organisations with a presence in Switzerland.
The recommendations include specific industry regulations for non-profit organisations, pension funds, insurance companies, and real estate and health insurers.
Swiss GAAP FER has a modular structure and consists of the following pieces: the framework, the core FER, and further standards, as well as Swiss GAAP FER 30 for groups of organisations and Swiss GAAP FER 31 for listed companies.
Structure of Swiss GAAP FER
Small organisations
For small organisations, the possibility exists to apply only the framework and selected central recommendations (core FER).
The framework, binding for all organisations, contains the principles that form the basis for the accounting according to Swiss GAAP FER.
Medium-sized organisations
Medium-sized organisations have to apply core FER as well as further Swiss GAAP FER.
Groups of organisations
Groups of organisations have to additionally apply Swiss GAAP FER 30 “Consolidated financial statements”.
Listed companies
Listed public corporations must additionally comply with Swiss GAAP FER 31 “Complementary recommendation for listed companies”.
The exclusive application of core FER is not permitted for listed companies.
Industry-specific recommendations
For insurance companies, pension institutions, non-profit organisations, and real estate and health insurers, industry-specific recommendations must also be taken into consideration.