What is type of reported data in SAP FI-LC - Consolidation?

SAP Term: type of reported data

• Component: FI-LC

• Component Name: Consolidation

• Description: A category that combines a level of detail and an object for the entry of financial reporting data. Types of reported data are used for consolidation units and, where applicable, for consolidated entities whose financial reporting data is entered directly in the SAP System or by using PC data entry with Microsoft Access. These types are assigned to consolidation units or consolidated entities in the master data.

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• Key Concepts: 
  FI-LC Consolidation is a type of reported data in SAP that allows users to consolidate financial data from multiple legal entities into one report. This type of data is used to provide an overview of the financial performance of a company or group of companies. It can also be used to compare the performance of different entities within the same group. 
  
  How to use it: 
  FI-LC Consolidation can be used to create reports that provide an overview of the financial performance of a company or group of companies. The reports can be used to compare the performance of different entities within the same group, as well as to identify areas where improvements can be made. The reports can also be used to identify trends and patterns in the financial data. 
  
  Tips & Tricks: 
  When using FI-LC Consolidation, it is important to ensure that all data is accurate and up-to-date. This will ensure that the reports are accurate and reliable. Additionally, it is important to ensure that all entities within the same group are included in the report, as this will provide a more comprehensive view of the financial performance. 
  
  Related Information: 
  For more information on FI-LC Consolidation, please refer to SAP's official documentation on the topic. Additionally, there are many online resources available that provide tutorials and tips on how to use this type of reported data in SAP.