Unit 13: Erp Financials

Front 1

Accounts Payable accounting gets most of its data from _____.

Back 1

Purchasing (MM)

Front 2

Account Receivable Accounting gets much of its data from _____.

Back 2

Sales and distribution

Front 3

What is the goal of financial accounting?

Back 3

Legal reporting

Front 4

List 9 elements of financial accounting

Back 4

- Accounts receivable
- Accounts payable
- Fixed assets accounting
- Bank accounting
- General ledger
- Cash journal accounting
- Inventory accounting
- Tax accounting
- Accrual accounting

Front 5

There must be at least one _____ in the production environment for the business to be live.

Back 5

company code

Front 6

Describe the 2 common uses of business area

Back 6

- Facilitate external reporting segment reporting across company codes where legally required
- To create internal segment-specific accounting reports

Front 7

Under what condition may you use a controlling area across company codes?

Back 7

If the company codes use the same chart of accounts and fiscal year

Front 8

What are the 3 elements of a GL account?

Back 8

- Account number
- Account name
- Account type (P&L or balance sheet)

Front 9

List the two types of G/L accounts

Back 9

- income statement (P&L) accounts
- balance sheet accounts

Front 10

For reasons of clarity, the G/L only contains _____ postings.

Back 10

collective

Front 11

_____ connect the subledgers to the general ledger in real time.

Back 11

Reconciliation accounts

Front 12

The _____ supports the booking of cash flows.

Back 12

bank ledger

Front 13

The general ledger is managed at the _____ level.

Back 13

company code

Front 14

Describe the relationships between controlling areas, charts of accounts, and company codes

Back 14

- One controlling area to many charts of accounts
- One chart of accounts to many company codes

Front 15

List the 2 segments of a G/L account record

Back 15

- chart of accounts segment
- company code segment

Front 16

_____ classify G/L accounts into user-defined segments

Back 16

Account groups

Front 17

List the 4 benefits of the new mySAP ERP general ledger

Back 17

- extended data structure
- real-time document splitting
- real-time reconciliation between FI and CO
- parallel accounting) multiple books within the general ledger)

Front 18

List 4 additional types of information that can be stored in the new mySAP ERP general ledger

Back 18

- functional area
- profit center/partner profit center
- cost center/primary cost element
- segment

Front 19

List the 4 areas of the G/L account posting screen

Back 19

- work templates
- header
- line items
- information area

Front 20

List the 3 controlling functions of a posting key, vis-a-vis a G/L posting document line item

Back 20

- account type to be posted
- whether it is a debit or credit
- which fields of the line item may have or require an entry

Front 21

The _____ is an overview of the saved transaction figures of a G/L account

Back 21

balance display

Front 22

From the point of view of the balance sheet, procurement into the warehouse is a _____ bound to a _____.

Back 22

- material stock increase
- bank account reduction

Front 23

List the 3 steps the system performs during an automatic payment run

Back 23

- posts payment documents
- clears open items
- prepares data for printing of payment media

Front 24

List the 5 elements of the payment process

Back 24

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

Front 25

The organizational unit used for credit control in the _____.

Back 25

credit control area

Front 26

A credit control area can be assigned to individual _____ or a group of _____.

Back 26

company codes, company codes

Front 27

The credit department sets up a separate _____, which is an extension of the customer master record

Back 27

credit management master record

Front 28

List the 3 sections of the credit management master record

Back 28

- 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.

Front 29

In FI, the maximum amount that constitutes a minor payment difference is defined in _____.

Back 29

tolerance group settings.

Front 30

In FI, list the 2 ways of dealing with a payment with a difference outside of tolerance.

Back 30

- Partial payment (underpayment). The item does not clear
- Residual item (overpayment). The open invoice is cleared and a residual item is created.

Front 31

Each asset belongs to a _____ and _____.

Back 31

- company code
- business area

Front 32

You define default values for asset depreciation and other master data in the _____.

Back 32

asset class

Front 33

Assets that do not appear in the same _____ must be assigned to different asset classes.

Back 33

- line item of the balance sheet

Front 34

List 2 special types of asset classes

Back 34

- Assets under construction
- Low-value assets

Front 35

The _____ component is used for technical management of assets, and the _____ component is used for financial management of assets.

Back 35

- plant maintenance (PM)
- treasury (TR)

Front 36

List 3 ways an asset transaction can be posted

Back 36

- 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

Front 37

List 6 types of asset postings

Back 37

- buying and selling
- credit memos
- acquisitions from internal production
- adjustment postings
- retirements without revenue
- depreciation and appreciation

Front 38

You can see an asset's history in the _____.

Back 38

asset explorer

Front 39

_____ are used to keep more than one valuation basis for assets.

Back 39

Depreciation areas

Front 40

Depreciation is posted to _____ and _____.

Back 40

- depreciation accounts in the general ledger
- CO cost object assigned to the asset master record

Front 41

Only after the _____ has been completed is the depreciation actually posted in asset accounting and the general ledger

Back 41

depreciation run

Front 42

Financial statement _____ are used to meet country-specific reporting requirements

Back 42

versions