Comprehensive and Detailed Explanation From SAP S/4HANA Cloud Public Edition, Management Accounting documents:

Attributed profitability segments allow for real-time margin reporting by deriving profitability characteristics from existing cost objects without requiring a formal settlement process111.

Production Order Integration: Attributed assignments can derive profitability segments from various CO objects, including production orders, which is particularly useful in Engineer-to-Order scenarios.

WBS Element Reporting: One of the most significant benefits is the ability to report margins on WBS elements before any settlement has occurred3. Since these attributes persist in the Universal Journal, they are immediately visible in CDS-based reports4.

It is important to note that attributed assignments are primarily for reporting; they are not "true" account assignments and therefore cannot be used for follow-on activities like further allocations or settlements5. Furthermore, they are focused on P&L accounts rather than balance sheet accounts6.