What is financial reporting currency in SAP FS-BA-PM-AFP - Accounting for Financial Products?

SAP Term: financial reporting currency

• Component: FS-BA-PM-AFP

• Component Name: Accounting for Financial Products

• Description: The currency in which the balance sheet and the profit and loss statement are generated. All items in the balance sheet and profit and loss statement contain a value in this currency. All value fields of the result data that are relevant for the financial statements, must thefore exist in at least the financial reporting currency. The financial reporting currency can be either the currency of the legal entity or the currency of the accounting system.

Smart SAP Assistant

• Key Concepts: 
  Financial reporting currency is a term used in SAP's Accounting for Financial Products (FS-BA-PM-AFP) component. It is the currency used to report financial information in the system. This currency is usually the same as the company's functional currency, but it can be different if needed. 
  
  How to use it: 
  In order to use financial reporting currency, you must first set up a company code in SAP. Once this is done, you can assign a financial reporting currency to the company code. This will be the currency used for all financial reporting in the system. 
  
  Tips & Tricks: 
  It is important to make sure that the financial reporting currency is set correctly, as this will affect all financial reports generated in the system. If you need to change the financial reporting currency, you can do so by going into the company code settings and changing it there. 
  
  Related Information: 
  For more information on setting up a company code and assigning a financial reporting currency, please refer to SAP's documentation on Accounting for Financial Products (FS-BA-PM-AFP).