In this topic we will discuss the suggested accounting entries that should be generated for each event in the life cycle of an Islamic LC.

1. BISS: Booking of an import Islamic LC
2. Accounting Roles for Transfer of Charge & Commission Components from Islamic LC to BC
3. Accounting Entries for Transfer of Charge & Commission Components from Islamic LC to BC
4. Collateral Bridge Accounting Role
5. AVAL: Availment under Islamic LC
6. CLOS: Closure of an Islamic LC / Guarantee
7. REIN: Reinstatement of an Islamic LC / Guarantee
8. BADV: Advising an Islamic LC
9. BCFM: Confirming an Islamic LC
10. BPRE: Pre-advising an Islamic LC
11. BANC: Advising and Confirming an Islamic LC
12. AMND: Amendment
13. AOCF: Amendment from Open to Open and Confirm
14. APAD: Amendment from Pre-advice to Advice
15. APAC: Amendment from Pre-advice to Advice and Confirm
16. REVR: Reversal of an Islamic LC Contract
17. REVE: Reversal of an Islamic LC Event
18. ACCR: Accrual of Commission
19. CALC: Periodic Commission Calculation Date
20. CLIQ: Liquidation of Commission
21. ROPN: Reopening of an Islamic LC
22. CANC: Cancellation of an Islamic LC
23. TRGN: Generation of Tracers
24. AATC: Amendment from Advice to Confirm
25. RASN: Reassign an Islamic LC
26. RAVL: Reversal of Availment
27. MLIQ: Manual Liquidation of Islamic LC commission
28. WAIV: Waiver of Components during Manual Liquidation
29. GCLP: Guarantee Claim Settlement
30. AASC: Amendment of Advice to Silent Confirmation