What is descriptive characteristic in SAP FS-BA-PM-AFP - Accounting for Financial Products?

SAP Term: descriptive characteristic

• Component: FS-BA-PM-AFP

• Component Name: Accounting for Financial Products

• Description: Characteristics that are either predefined by SAP or created by the customer. They are not defining characteristics, but rather depict the properties or attributes of the respective object. They are found in financial position objects and balance subobjects. Descriptive characteristics for the financial position object are created for each accounting class, whereas descrptive characteristics for the balance subobject are created for each balance subobject. Descriptive characteristics predefined by SAP include, for example, "tax rate," "impairment indicator," and "holding category."

Smart SAP Assistant

• Key Concepts: 
  Descriptive characteristics are used in the Accounting for Financial Products (AFP) component of SAP to describe the characteristics of a financial product. These characteristics can include the type of product, its maturity date, and other relevant information. 
  
  How to use it: 
  Descriptive characteristics are used to define the properties of a financial product in SAP. This information is used to create a financial product in the system and to track its performance over time. The descriptive characteristics can be set up in the system by entering the relevant information into the appropriate fields. 
  
  Tips & Tricks: 
  When setting up descriptive characteristics for a financial product, it is important to ensure that all of the relevant information is entered accurately. This will ensure that the system can accurately track the performance of the product over time. 
  
  Related Information: 
  For more information on descriptive characteristics and how they are used in SAP, please refer to the SAP documentation on Accounting for Financial Products (AFP).