Shivangi,
In the month-end activities only it will affect on foreign currency valuation (FAGL_FC_VAL), because, you have an option of assigning the valuation area to Ledger.
The Year - end activities (GAGLGVTR) you need to perform in ledger specific, then only as per your FYV (k4, v3) the financial statements will come accurately.
Assume that if you have a calendar year is a fiscal year, then in Dec you need to take care ledger specific year end activity, in the same way if your FY is April to March then you need to perform yearend activity in march.
I hope it is clear.
Regards,
Ravi