Problem in creation of FSV regarding where to assign the specific GL acct

Question

Dear All,
Currently i am working on creation of Financial Statement Version, and have some doubt regarding some of GL account as to where it will get assigned.
1.Consumption of RM or SFG
2. Cost of Production of FG
3. Cost of Good Sold.
Kindly also tell the relation between the above GL and how it will effect the Balance sheet. and why this is used for.
Example is below
1. At the time of issue of RM material to Production order
Consumption of RM  100
  To Inventay of RM          100
2.*At the time of Confirmation of FG *
Inventory of FG                           120               
  To Cost of Production of FG              120
3. At the time of PGI
Cost of Good Sold     120
  To Inv of FG                      120
Thanks in advance
Regards
Shayam
Edited by: Shayam_210 on Aug 9, 2010 9:33 AM

Answer 1

hi,
These are all P&L GL accounts and need to be allocated under profit and loss accounts node.
Under that profit and loss node, there may be diff sub items also.
Sub item has to be decide d by you depending upon the FSV structure in your org.
Regards,
Srinu