Thanks for your reply. I also don't think the need of REF DATA. I inherited this code from the existing system where I am involved in the upgrade. The issue is, this code works fine in 7.5 but getting failed in 10 that's the reason I need to look into this.
The logic here is to create the opening balance and copy the retained earnings (ACCT2) in opening flow. Probably the REF_DATA was used to write zero in all the scoped data records, which could be achieved by making all records zero in first step of the code.