There are huge toolboxes around here so if I make a mistake in the theory, someone will correct me. This is all from scratch is how I will start and then you can apply this to any charging system. To make it simple; I'll go back and forth between the 14 and a harley so the wires are not as confusing we break it down to a 2 wire stator.

Our 14 uses a 35a 14v system with 490w of cranking power (potential). So if we take 35 and that is [we add up] the stator wires of this stationary circle of coiled wires that all connect out of 3 yellow wires, and 2 black wires out of the harley... WATT is unique to both is the magnetic rotor [rotates] inside the [stationary] stator to make AC voltage.

This is our power station. We have the harley at 16 if the 32 amp is divided by half. We now have 16a out of both male prongs that are mounted at the front left engine case. If I start with the 35a, divide in half, we are 17.5a out in half [in theory]. Lettuce not mix so many numbers to wires in this salad, or we have no clue if it's cabbage or romaine. So say we use the next jobber in line is the voltage regulator.

The vo/reg converts AC into DC and steps it down to 14.v and change. This is where I see huge bubbles of boiling pasta water; if the converter [vo/reg] was burnt out. This would send direct AC, or the 16/17.5 worth of volts into the battery and buckles the plates to separation. It then becomes too hot to touch; the plastic is melting to the point of expanding. This is found out later with the vo/reg failure. Where the non burnt out jobber taking in the AC; would now send in the balanced bubbles the size of champagne bubbles up the side of the glass you just look at the one stuck there and it keeps bleeding out the pleat = no heat. That's basically what the vo/reg does with that much heat is send some to ground.

Where does my 14.v and change come in? If we revert back to a 2-wire stator, we see one side is a bank of coiled wire blocks and the north side is the other bank of coiled wire blocks. All I see or should see is the continuous 17.5/16v of one A and the other C is all EEE (electricity evens everything) is to capture the AC as one 360 degree of 2 wires = A Continuous 16v = N + S + N + S etc fed to the vo/reg.

So the vo/reg is handcuffed to the flip-pit-titty-flop-16-titty-flip-[minus]0.7-flop=15.3-flip-[minus]0.7-flops to = 14.6v on the dash: talk about math me in the reversengineering of the handiscuffed number give or take a 10th of a volt say.

Therefore, I am with ohm meter across the battery with the dial set at 20v on the meter setting. Max open volts should run 14.1 - 14.2v @ idle. Bike sits for a few weeks no charger to it, she shows on the dash, cough, the penultimate number or 14.6v is within range, cough 14.7v pen sort of ultimate is the number... Ha EEE LOL OOOOO!

I would assume a well charged battery sits at the specific gravity of 12.8 in volts would be like 14.7 charging at the dash.
I would assume a well ridden bike comes home with a gravity of 12.6v or EEE's the dash settled in at around 14.6v for most of the ride.
I would assume a newly charged battery was me watching how high that penultimate number was when new. Now? 12.6 in the high and 12.4 in the getting older?

I would stop assuming about the lower dash numbers bumping up and down, unless I logically walk, well, I changed the battery and the charging system did not change in wire resistance draw to ground, nor, a magnetic loss at the rotor; and here is a new, well charged battery; spiking the penultimate number again and settling in @ 35a ~ 14.v and change. Me charging a new battery is once again... the original battery is wearing out as a shelf life jobber; it's not the vo/reg, not the rotor, not the stator, but was the battery in most cases she is back again reading 14.6v on the dash [14.7 if you read the small print that comes with the battery and follow those directions prepping the battery].