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42 Cards in this Set

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