What is account in SAP EPM-BPC - Business Planning and Consolidation?

SAP Term: account

• Component: EPM-BPC

• Component Name: Business Planning and Consolidation

• Description: An object to which debit and credit entries are chronologically posted to record changes in value. Types of accounts include Assets, liabilities, income, expenses, and equity.

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• Key Concepts: 
  An account in SAP EPM-BPC Business Planning and Consolidation (BPC) is a record of financial transactions. It is used to track the flow of money in and out of an organization. Accounts are organized into a chart of accounts, which is a hierarchical structure that categorizes accounts according to their purpose. 
  
  How to use it: 
  Accounts can be used to track the financial performance of an organization. They can be used to record income, expenses, assets, liabilities, and equity. Accounts can also be used to create financial statements such as balance sheets and income statements. 
  
  Tips & Tricks: 
  When creating accounts in SAP EPM-BPC BPC, it is important to ensure that the accounts are properly categorized according to their purpose. This will make it easier to track financial performance and create accurate financial statements. 
  
  Related Information: 
  SAP EPM-BPC BPC also includes features such as budgeting, forecasting, and reporting. These features can be used in conjunction with accounts to gain a better understanding of an organization’s financial performance.