Surface reflectance is an important data product in imaging spectroscopy for obtaining surface information. The complex retrieval of surface reflectance, however, critically relies on accurate knowledge of atmospheric absorption and scattering, and the compensation of these effects. Furthermore, illumination and observation geometry in combination with surface reflectance anisotropy determine dynamics in retrieved surface reflectance not related to surface absorption properties. To our knowledge, no comprehensive assessment of the impact of atmospheric, topographic, and anisotropy effects on derived surface information is available so far. This study systematically evaluates the impact of these effects on reflectance, albedo, and vegetation products. Using three well-established processing schemes (ATCOR F., ATCOR R., and BREFCOR), high-resolution APEX imaging spectroscopy data, covering a large gradient of illumination and observation angles, are brought to several processing states, varyingly affected by mentioned effects. Pixel-wise differences of surface reflectance, albedo, and spectral indices of neighboring flight lines are quantitatively analyzed in their respective overlapping area. We found that compensation of atmospheric effects reveals actual anisotropy-related dynamics in surface reflectance and derived albedo, related to an increase in pixel-wise relative reflectance and albedo differences of more than 40%. Subsequent anisotropy compensation allows to successfully reduce apparent relative reflectance and albedo differences by up to 20%. In contrast, spectral indices are less affected by atmospheric and anisotropy effects, showing relative differences of 3% to 10% in overlapping regions of flight lines. We recommend to base decisions on the use of appropriate processing schemes on individual use cases considering envisioned data products.