Terp10 Sap Erp Unit 12 - Sap Financial Accounting

Front 1

Every General Ledger is structured according to a ?

Back 1

chart of accounts

Front 2

What connects the subledgers to the general ledger?

Back 2

Reconciliation Accounts

Front 3

The general ledger is managed at what level?

Back 3

Company Code

Front 4

The Treasury (TR) focus on what functions

Back 4

Payment means,
Foreign exchange
Deivatives
Bonds
Loans
Market Risk

Front 5

Financial accounting is meant for

Back 5

legal reporting.
Balance Sheet and Income Statement according to GAAP or IAS

Front 6

Management accounting is meant for

Back 6

internal management information regarding cost and revenue. Mgmt accounting could analyze cost and revenue at a high organizational unit, across countries.

Front 7

You should create a company code according to

Back 7

tax law, commerical law and other FI criteria.

Front 8

One or more company codes can be assigned to a controlling area? (T/F)

Back 8

True

Front 9

Controlling areas require

Back 9

same operating chart of accounts and fiscal year.

Front 10

The GL account consist of

Back 10

Account number
Account name
Type of GL account (P&L or balance sheet)

Front 11

Account groups classify GL accounts into user-defined segments and determine the?

Back 11

number range of the accounts.

Front 12

Reconciliation accounts ensures

Back 12

real-time integration of subledger account with the general ledger.

Front 13

In the general ledger, postings are limited to reconciliation accounts by the use of

Back 13

account types.

Front 14

The new general ledger in mySAP ERP has the following advantages

Back 14

Extended data structure
Document split (Segment)
Reconciliation to Management Accounting
Manage multiple books with parallel accounting

Front 15

A held document is

Back 15

a document saved and not posted

Front 16

The vendor master records contain data that controls how transaction data is posted and processed? (T/F)

Back 16

True

Front 17

An invoice entered direct into AP within FI is a

Back 17

miscellaneous invoice with no reference to a PO.

Also, a credit memo can be entered in FI AP.

Front 18

The vendor name and address in the vendor master is stored at the

Back 18

client level. The purchasing organization enters data specific to purchasing in the vendor master before use.

Front 19

The customer name and address in the customer master is stored at the

Back 19

client level. The sales area (Sale Org, Distribution Channel, Division) must be defined before doing business with the customer.

Front 20

The organizational unit used for credit control is

Back 20

the credit control area for the customer.

Front 21

The credit department sets up a separate?

Back 21

credit management master record which is an extension of the customer master record.

Front 22

The credit management master record consist of

Back 22

General data (address, max limit)
Credit control area data (risk category)
Overview (contains most important data)

Front 23

On the day of shipping products to the customer what is created?

Back 23

Outbound delivery document

Front 24

The goods to be delivered are posted as?

Back 24

Goods issue which is created in MM, and accounting document is created for FI.

Front 25

What is debited and credited for a goods issue?

Back 25

Debits COGS
Credits Inventory

Front 26

What are the debits and credits when a billing document is created?

Back 26

Debit Customer AR
Credit Revenue

Front 27

A sales order is blocked when?

Back 27

Credit limited is exceeded.

Front 28

Each asset belongs to a

Back 28

company code and business area. Additionally, you can assign the asset to various CO Objects (cost center, internal order) and Logistic Organizational Units.

Front 29

Each asset has to be assigned to an asset class such as

Back 29

1000 Buildings
2000 Machinery
3000 Business Equipment
4000 Assets under construction
5000 Low-value assets

Front 30

Plant Maintenance (PM) is used for the _____ ______ of assets. Treasury (TR) is used for managing ______ assets.

Back 30

technical management
financial

Front 31

Asset explorer offers?

Back 31

a clear overview of the activity for an asset.

Front 32

Reconciliation accounts can be posted to directly? (T/F)

Back 32

False

Post to the subledger account.

Front 33

What determines the structure of the balance sheet and income statement as far as which accounts map to which line items on the report?

Back 33

Financial statement version

Front 34

What are the various acquisitions and retirements that can be posted in asset accounting?

Back 34

1. Without a vendor or PO, offsetting GL clearing
2. to a vendor
3. via MM by creating a PO