You have not yet created a business process standard hierarchy for COAr &

What causes this issue?

The <GL:standard_hierarchy>standard hierarchy</> for cost centers has
not yet been created for the business processes.

System Response

The system cannot continue processing. The maintenance transaction for
the standard hierarchy is terminated.

How to fix this error?

Create the standard hierarchy for business processes for controlling
area &V1&.

Procedure for System Administrators

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.