What is event after reporting date in SAP FS-LOC-RU - Localization of Banking in Russia?

SAP Term: event after reporting date

• Component: FS-LOC-RU

• Component Name: Localization of Banking in Russia

• Description: Any transaction that could not be posted before the end of the reporting date for a particular period. The Central Bank of Russia CBR defines a grace period, which can last up to 6 months. During the grace period, banks can post events that relate to the previous reporting period. These events are considered as part of the previous reporting period's records. &EXAMPLE& A posting for the decrease in asset value for the period ending December 31, 2012, is done on January 25, 2013. The grace period defined for this EARD transaction is from January 1, 2013 through March 31, 2013. Since January 25, 2013 falls within the grace period,the system will allow you to post the EARD event, which is accounted as part of financial year ending December 31, 2012.

Smart SAP Assistant

• Key Concepts: 
  Event after reporting date is a feature of the FS-LOC-RU Localization of Banking in Russia component of SAP. This feature allows users to report on events that have occurred after the reporting date. This is useful for companies that need to report on events that have occurred after the reporting date, such as changes in the exchange rate or changes in the legal environment.
  
  How to use it: 
  To use this feature, users must first select the “Event after Reporting Date” option in the FS-LOC-RU Localization of Banking in Russia component. Once selected, users can enter the details of the event, such as the date and type of event, and then submit it for processing. The system will then process the event and generate a report based on the information provided.
  
  Tips & Tricks: 
  When entering information for an event after reporting date, it is important to ensure that all details are accurate and up-to-date. This will help ensure that the report generated is accurate and reliable. Additionally, it is important to keep track of all events after reporting date so that they can be reported on in a timely manner.
  
  Related Information: 
  For more information about FS-LOC-RU Localization of Banking in Russia, please refer to SAP’s official documentation. Additionally, there are many online resources available that provide detailed information about this component and its features.