What is gain and loss in SAP EPM-FC-SK - FC Starter Kit for IFRS?

SAP Term: gain and loss

• Component: EPM-FC-SK

• Component Name: FC Starter Kit for IFRS

• Description: Consolidation term, as employed within the International Accounting Standards IAS and the International Financial Reporting Standards IFRS.

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• Key Concepts: 
  Gain and loss is a term used in the SAP EPM-FC-SK FC Starter Kit for IFRS. It is a financial statement item that represents the difference between the current value of an asset or liability and its original value. It is calculated by subtracting the original value from the current value. 
  
  How to use it: 
  Gain and loss can be used to measure the performance of an asset or liability over time. It can also be used to compare the performance of different assets or liabilities. The gain and loss calculation can be used to determine whether an asset or liability has increased or decreased in value over time. 
  
  Tips & Tricks: 
  When calculating gain and loss, it is important to consider any changes in market conditions that may have affected the value of the asset or liability. Additionally, it is important to consider any costs associated with buying, selling, or maintaining the asset or liability. 
  
  Related Information: 
  Gain and loss is related to other financial statement items such as revenue, expenses, and net income. It is also related to other accounting concepts such as depreciation, amortization, and impairment.