What is standard cost center hierarchy in SAP EPM-IM-EXP - EPM IM Expense Review?

SAP Term: standard cost center hierarchy

• Component: EPM-IM-EXP

• Component Name: EPM IM Expense Review

• Description: A tree structure containing all cost centers in a controlling area.

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• Key Concepts: 
  Standard cost center hierarchy is a structure used in SAP to organize cost centers. It is a hierarchical structure that allows for the grouping of cost centers into different levels. This structure helps to simplify the management of cost centers and provides an easy way to view and analyze the data associated with them. 
  
  How to use it: 
  The standard cost center hierarchy can be used to organize cost centers into different levels. This allows for easier management of the cost centers and provides an easy way to view and analyze the data associated with them. The hierarchy can be set up in SAP by creating a new cost center hierarchy and assigning the appropriate cost centers to it. 
  
  Tips & Tricks: 
  When setting up a standard cost center hierarchy, it is important to ensure that all of the necessary information is included in the hierarchy. This includes the name of the cost center, its description, and any other relevant information that may be needed. Additionally, it is important to ensure that all of the cost centers are properly linked together in order for the hierarchy to be effective. 
  
  Related Information: 
  The EPM-IM-EXP EPM IM Expense Review component in SAP is used to review and analyze expenses related to cost centers. This component allows users to view and analyze expenses related to each cost center, as well as compare expenses across different cost centers. Additionally, this component can be used to generate reports on expenses related to each cost center, which can be used for budgeting and forecasting purposes.