A journal entry made to the financial data of companies being consolidated, to bring this data into line with corporate standards.
Standardizing entries can be made locally by the individual subsidiaries, but the standardizing entries required from the group point of view are not known to the subsidiary, and are therefore made only in the Consolidation system.
If the subsidiary reports its data in local currency, then the standardizing entry is also made in local currency.
The individual financial statement data and standardizing entries for the subsidiary are then translated into group currency during currency translation.
In FI-LC, standardizing entries are stored separately from the reported financial statement data in special data records. This enables you to analyze each type of data separately.
Entries that post to both the balance sheet and income statement can cause an adjustment to net income that is calculated automatically in the Consolidation system. This can lead to the allocation of deferred taxes.
More terms such as standardizing entry (FI-LC) in Dictionary S.
- Manual Subrogation (FI-CA):
- Help Assignment of a receivable from a previous business partner to a third party standardizing entry (fi-lc) definition.
- Manual Service Provider (CRM-RPL-SRV):
- Help Contractor or organization whose work supplies a business need for an enterprise standardizing entry (fi-lc) explain.
- Manual Sequence Schedule (PP-FLW):
- Help A product of Sequencing. The system presents the sequence of planned orders graphically in the sequence schedule standardizing entry (fi-lc) what is.
- Manual Subsequent Supply:
- Help The provision of material to maintain the stock of a force element after the initial supply standardizing entry (fi-lc) meaning.
- Manual Source Document (FI):
- Help document for the accounting document. The source document contains the data entered by the user in the transaction system. One or more accounting documents are generated from this for the different standardizing entry (fi-lc) abbreviation.
