What is financial statement item in SAP EC-CS - Consolidation?

SAP Term: financial statement item

• Component: EC-CS

• Component Name: Consolidation

• Description: The fundamental account assignment of the system. Financial statement FS items form the basis for consolidation data collection, posting and reporting. FS items can be used in multiple consolidation charts of accounts. They are not only used for accounting purposes on balance sheets, income statements or statements of retained earnings. They can also be used for maintaining metrics and key figures. The attributes of an FS item include the FS item type, the where-used indicator, the FS item category, the debit or credit sign and the breakdown category. Besides the item key, the system also features subassignments. The following subassignments are provided: trading partner, transaction currency, year of acquisition, and subitem. Custom subassignments are also available.

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• Key Concepts: 
  Financial statement items are the individual elements of a financial statement. In SAP EC-CS Consolidation, financial statement items are used to define the structure of a financial statement. This structure is used to store and report financial data in a consistent and organized manner. 
  
  How to use it: 
  In SAP EC-CS Consolidation, financial statement items are used to define the structure of a financial statement. This structure is used to store and report financial data in a consistent and organized manner. Financial statement items can be created, edited, and deleted in the Financial Statement Item Maintenance screen. 
  
  Tips & Tricks: 
  When creating financial statement items, it is important to ensure that they are properly categorized according to their purpose. This will help ensure that the data is reported accurately and consistently. Additionally, it is important to ensure that all financial statement items are properly linked to their respective accounts in order for the data to be accurately reported. 
  
  Related Information: 
  For more information on SAP EC-CS Consolidation and financial statement items, please refer to the SAP Help Portal or contact your local SAP representative.