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42 Cards in this Set
- Front
- Back
Accounts Payable accounting gets most of its data from _____.
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Purchasing (MM)
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Account Receivable Accounting gets much of its data from _____.
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Sales and distribution
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What is the goal of financial accounting?
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Legal reporting
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List 9 elements of financial accounting
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- Accounts receivable
- Accounts payable - Fixed assets accounting - Bank accounting - General ledger - Cash journal accounting - Inventory accounting - Tax accounting - Accrual accounting |
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There must be at least one _____ in the production environment for the business to be live.
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company code
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Describe the 2 common uses of business area
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- Facilitate external reporting segment reporting across company codes where legally required
- To create internal segment-specific accounting reports |
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Under what condition may you use a controlling area across company codes?
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If the company codes use the same chart of accounts and fiscal year
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What are the 3 elements of a GL account?
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- Account number
- Account name - Account type (P&L or balance sheet) |
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List the two types of G/L accounts
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- income statement (P&L) accounts
- balance sheet accounts |
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For reasons of clarity, the G/L only contains _____ postings.
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collective
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_____ connect the subledgers to the general ledger in real time.
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Reconciliation accounts
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The _____ supports the booking of cash flows.
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bank ledger
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The general ledger is managed at the _____ level.
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company code
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Describe the relationships between controlling areas, charts of accounts, and company codes
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- One controlling area to many charts of accounts
- One chart of accounts to many company codes |
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List the 2 segments of a G/L account record
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- chart of accounts segment
- company code segment |
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_____ classify G/L accounts into user-defined segments
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Account groups
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List the 4 benefits of the new mySAP ERP general ledger
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- extended data structure
- real-time document splitting - real-time reconciliation between FI and CO - parallel accounting) multiple books within the general ledger) |
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List 4 additional types of information that can be stored in the new mySAP ERP general ledger
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- functional area
- profit center/partner profit center - cost center/primary cost element - segment |
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List the 4 areas of the G/L account posting screen
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- work templates
- header - line items - information area |
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List the 3 controlling functions of a posting key, vis-a-vis a G/L posting document line item
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- account type to be posted
- whether it is a debit or credit - which fields of the line item may have or require an entry |
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The _____ is an overview of the saved transaction figures of a G/L account
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balance display
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From the point of view of the balance sheet, procurement into the warehouse is a _____ bound to a _____.
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- material stock increase
- bank account reduction |
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List the 3 steps the system performs during an automatic payment run
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- posts payment documents
- clears open items - prepares data for printing of payment media |
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List the 5 elements of the payment process
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1. Select payment method and bank
2. Select items for payment 3. Calculate the payment amount, including discounts 4. Post the payment document 5. Print payment medium |
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The organizational unit used for credit control in the _____.
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credit control area
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A credit control area can be assigned to individual _____ or a group of _____.
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company codes, company codes
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The credit department sets up a separate _____, which is an extension of the customer master record
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credit management master record
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List the 3 sections of the credit management master record
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- general data. Contact info, maximum sum of all credit limits.
- credit control area data. Credit limit at the credit control area level. - overview. Contains the most important data from all sections. |
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In FI, the maximum amount that constitutes a minor payment difference is defined in _____.
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tolerance group settings.
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In FI, list the 2 ways of dealing with a payment with a difference outside of tolerance.
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- Partial payment (underpayment). The item does not clear
- Residual item (overpayment). The open invoice is cleared and a residual item is created. |
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Each asset belongs to a _____ and _____.
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- company code
- business area |
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You define default values for asset depreciation and other master data in the _____.
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asset class
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Assets that do not appear in the same _____ must be assigned to different asset classes.
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- line item of the balance sheet
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List 2 special types of asset classes
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- Assets under construction
- Low-value assets |
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The _____ component is used for technical management of assets, and the _____ component is used for financial management of assets.
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- plant maintenance (PM)
- treasury (TR) |
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List 3 ways an asset transaction can be posted
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- without a vendor or PO, with offset to G/L clearing account
- to a vendor, but without a PO, with offset to G/L clearing account - via MM |
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List 6 types of asset postings
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- buying and selling
- credit memos - acquisitions from internal production - adjustment postings - retirements without revenue - depreciation and appreciation |
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You can see an asset's history in the _____.
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asset explorer
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_____ are used to keep more than one valuation basis for assets.
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Depreciation areas
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Depreciation is posted to _____ and _____.
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- depreciation accounts in the general ledger
- CO cost object assigned to the asset master record |
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Only after the _____ has been completed is the depreciation actually posted in asset accounting and the general ledger
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depreciation run
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Financial statement _____ are used to meet country-specific reporting requirements
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versions
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