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Special Item Net Profit & Net Loss in Financial statement version

I have two queries related to the financial statement version special items of Net Result Profit & Net Result Loss. The SAP help says that "The financial statement profit or loss is determined from only those accounts assigned to assets or liabilities".

Does this mean that the difference of Assets & liabilities comes under either of these items or the amount is derived from the P&L result, please clarify. As per my understanding that we do not assign any accounts to these two nodes & the system determines the figure from assets & liabilities accounts.

Secondly where do we assign the retained earning account, in the liabilities node or in the P&L node.

Thanks

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  • Best Answer
    Posted on Mar 24, 2011 at 07:39 AM

    you dont need to assign any accounts to these nodes, you just assign these nodes to your P&L accounts nodes

    Your profit/loss derived by your P&L accounts not from your B/S accounts.

    Retained earnings account you have to assign to your B/S accounts under share holder's equity.

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  • author's profile photo Former Member
    Former Member
    Posted on Mar 24, 2011 at 07:53 AM

    Hello,

    For your first question, yes your understanding is correct. The difference of the items assigned to the Assets and Liabilities will come under the Net Result Profit or Net Result Loss, as the case may be.

    For your second question, the retained earnings should be assigned to the Liabilities node.

    Ideally, when you assign the retained earnings to the Liability node, the Net result Profit or Loss should become "zero" assuming that you had assigned all the GL accounts from your trial balance to the correct nodes in the Financial Statement Version.

    Regards,

    Mike

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  • author's profile photo Former Member
    Former Member
    Posted on Mar 24, 2011 at 09:19 AM

    thanks all for the replies

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    • Former Member

      Hi

      You can get the Net profit / Net loss for a particular period by using T.code F.08

      under dynamic selection you have to select P&L statement a/c type

      and execute .

      you will get the Net profit/loss

      Thanks

      chand basapuram

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