Implementering af den nye bogføringslov

Abstract

The new Bookkeeping Act of 24 of May 2022 aims to modernize and strengthen accounting practices for Danish companies. Based on the problem formulation, the purpose of the project is to provide an answer to what the basis is for the introduction of the new Bookkeeping Act, as well as what specific challenges Danish companies face in the implementation. We will use a social constructivist approach to examine the implementation and consequences of the new Bookkeeping Act for Danish companies. The focus will be on how the law and its requirements are perceived by advisors, companies, and authorities, as well as how these perceptions affect the companies' operations and adaptation. The project concludes that the new Bookkeeping Act will help to modernize and strengthen accounting practices for Danish companies. The basis for the change in the law is to create greater transparency and increase the digitalization of bookkeeping, which is crucial for both internal and external decision-makers. The transition has posed challenges for small and medium-sized companies in particular, which involves adapting to new digital requirements, updating internal processes and ensuring compliance with the new adopted standards. It has therefore also been necessary for smaller companies to use advisors to navigate through the complex requirements and rules, both to ensure compliance and to exploit the potential competitive advantages that come with it. The project concludes that the Danish Business Authority has issued unclear guidelines to both advisers and companies, which creates communication problems. For a further project, it is recommended to go in depth with the communication between the Danish Business Authority and the advisory houses, including the possible communication tools that can be used to clarify the new guidelines in the Bookkeeping Act. In addition, it is emphasized that approximately 118,000 small businesses exceeding the revenue requirement of DKK 300,000 could possibly be covered by the new Bookkeeping Act, which will result in increased financial and administrative burdens. For a further project, an in- depth analysis is recommended to help assess whether the benefits of including these companies outweigh the challenges they will face.