What is standard report in SAP FI-LC - Consolidation?

SAP Term: standard report

• Component: FI-LC

• Component Name: Consolidation

• Description: The standard reports arrange group or company data in table or list form. The following are examples of standard reports: Balance sheet or income statement with year or version comparison Changes in balance sheet or income statement Asset history sheet, reserve report Sales revenue by region or profit center The layout and content of a standard report are user definable but must be fully specified before or when a report is called up. Standard reports can be created on screen, as a print-out, or as an automatic extract. A more dynamic analysis of data can be achieved using on-screen Interactive Reporting.

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• Key Concepts: 
  Standard reports are pre-defined reports in SAP that provide users with a quick and easy way to access data. In the FI-LC Consolidation component, standard reports are used to view and analyze financial data from multiple legal entities. These reports can be used to compare financial data across entities, track changes in financial performance, and identify potential areas of improvement. 
  
  How to use it: 
  Standard reports in the FI-LC Consolidation component can be accessed through the SAP Easy Access menu. Once in the menu, select the “Reports” tab and then select “Standard Reports”. From here, users can select the desired report from the list of available standard reports. Once selected, users can enter any necessary parameters and run the report. 
  
  Tips & Tricks: 
  When running standard reports in the FI-LC Consolidation component, it is important to remember that some of these reports may require additional parameters to be entered before they can be run. Additionally, users should be aware that some of these reports may take a few minutes to run depending on the amount of data being processed. 
  
  Related Information: 
  For more information on standard reports in the FI-LC Consolidation component, please refer to SAP’s official documentation on the topic. Additionally, users can find helpful tutorials and videos on YouTube that provide step-by-step instructions on how to use standard reports in SAP.