The main difference with respect to accounting entries is that with Std price the variances are written off to P&L account; but with MAP it is absorbed into inventory.
Std Price (on purchase)
Dr Inventory 100
Cr GRIR 120
Cr Purchase Price Varianc e 20
MAP (on purchase)
Dr Inventory 120
Cr GRIR 120
On Goods Issue, there is not much of a difference in most scenarios - GI is done at price on MM master (100 for Std Price and 120 for MAV in above example).
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