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.

• BISS: Booking of an import Islamic LC
  
• Accounting Roles for Transfer of Charge & Commission Components from Islamic LC to BC
  
• Accounting Entries for Transfer of Charge & Commission Components from Islamic LC to BC
  
• Collateral Bridge Accounting Role
  
• AVAL: Availment under Islamic LC
  
• CLOS: Closure of an Islamic LC / Guarantee
  
• REIN: Reinstatement of an Islamic LC / Guarantee
  
• BADV: Advising an Islamic LC
  
• BCFM: Confirming an Islamic LC
  
• BPRE: Pre-advising an Islamic LC
  
• BANC: Advising and Confirming an Islamic LC
  
• AMND: Amendment
  
• AOCF: Amendment from Open to Open and Confirm
  
• APAD: Amendment from Pre-advice to Advice
  
• APAC: Amendment from Pre-advice to Advice and Confirm
  
• REVR: Reversal of an Islamic LC Contract
  
• REVE: Reversal of an Islamic LC Event
  
• ACCR: Accrual of Commission
  
• CALC: Periodic Commission Calculation Date
  
• CLIQ: Liquidation of Commission
  
• ROPN: Reopening of an Islamic LC
  
• CANC: Cancellation of an Islamic LC
  
• TRGN: Generation of Tracers
  
• AATC: Amendment from Advice to Confirm
  
• RASN: Reassign an Islamic LC
  
• RAVL: Reversal of Availment
  
• MLIQ: Manual Liquidation of Islamic LC commission
  
• WAIV: Waiver of Components during Manual Liquidation
  
• GCLP: Guarantee Claim Settlement
  
• AASC: Amendment of Advice to Silent Confirmation
  
• TRAM: Transfer Amendment
  
• RTRA: Reinstatement of Transferred LC Amount