In the classical data model, an account consists of: Charts of Accounts data (SKA1) Company Code specific data (SKB1) An Account Description (SKAT).
In the new data model, the account is the master record and it is all that is required. True False.
In New data model, you move between the following G/L account types (GLACCOUNT_TYPE): Nonoperating Expense or Income Balance Sheet Accounts Primary Costs or Revenues Secondary Costs Income Statement Accounts Operating Expense or Income.
The cost element category specifies which business transactions can be used with which cost element. The following business transactions can be selected: 01 Primary costs/cost-reducing revenues 03 Accrual/deferral per surcharge 04 Accrual/deferral per debit = actual 11 Revenues 12 Sales deduction 22 External settlement 21 Internal settlement.
Secondary Costs accounts types can be used for internal CO allocations only. The following business transactions can be selected: 21 Internal settlement 31 Order/project results analysis 41 Overhead Rates 42 Assessment 43 Internal activity allocation 50 Project-related incoming orders: Sales revenue 51 Project-related incoming orders: Other revenues 22 External settlement 52 Project-related incoming orders: Costs 61 Earned value.
Default account assignments maintained in former cost element master data are migrated to transaction OKB9 as part of the migration process. Correct Incorrect.
In S/4HANA, the (mandatory) target approach is the Business Partner approach. Business Partner is now capable of centrally managing master data for business partners, customers, and vendors. Right Wrong.
The merge of cost elements and G/L accounts requires adjustments to authorizations for creating cost elements: If you want to maintain accounts of the account type Primary Costs or Revenue, you need to have authorization to create or change cost element master data. If you want to maintain accounts of the account type Secondary Costs, you need to have authorization to create or change G/L accounts. If you want to maintain accounts of the account type Primary Costs or Revenue, you need to have authorization to create or change G/L accounts.
In CO relevant postings check: the CO Period Lock (OKP1) the G/L period opening/closing (OB52) only check CO Period Lock (OKP1).
In transaction OB52, for each variant you can specify which posting periods are open for posting. You can choose period intervals 1 between and 3. Right Wrong.
You can use period intervals 1 and 2 for all normal posting processes in regular periods. Right Wrong.
Period interval 3 is used for postings from Controlling (CO) to Financial Accounting (FI). If you do not make an entry for period interval 3, the check on these postings is made against: period intervals 1. period intervals 2. period intervals 1 and 2.
The leading ledger works with the accounting period that is assigned to the accounting area. Non-leading ledgers can be assigned different posting period variants. Right Wrong.
In new General Ledger Accounting: Different accounting principles are mapped using To use different ledgers to save the different valuation approaches.
An extension ledger is assigned to a standard ledger and inherits all journal entries of the standard ledger for reporting. Postings made explicitly to an extension ledger are visible in that extension ledger as well as in the underlying standard ledger. correct incorrect.
An extension ledger stores delta values and points to another ledger - thus providing a flexible mechanism for adjustments and reporting. An important use case is for management views on top of legal data (IFRS or Local GAAP). Besides creating a master record, Extension Ledgers need additional configuration. Reporting on the extension ledger does not include the data of the underlying ledger. Multiple extension ledgers can point to the same underlying ledger. Benefit of reduced data footprint and zero reconciliation effort as only delta values are kept.
Extension ledgers are stored in the universal journal - same as standard ledgers. Extension ledgers can be assigned own booking period variants. The standard ledger can be closed and the assigned extension ledger can be open.
Each specific ledger is self contained, has a special purpose, and provides a specific view on financial data. A ledger usually stores a lot of redundant data in other ledgers. With extension ledgers you can: "staple" ledgers on top of each other, providing the different views you need. maximizes the data footprint and provides new flexibility for easily creating additional views.
For the followings, the data is now store in table ACDOCA Data previously stored in FAGLFLEXA, FAGLFLEXT (carry forward) Data of New G/L industry tables for Public Sector and Joint Venture Accounting (FMGLFLEXA/T, PSGLFLEXA/T, JVGLFLEXA/T) Data of customer created New G/L tables ZZ<CUST>T, ZZ<CUST>A.
In the FAGLFTEXT totals table in the New General Ledger, the updated profit center, segment, business, area, cost-of-sales accounting fields are also updated in S/4HANA accounting in the universal ledger. Right Wrong.
A financial accounting document always has two views in S/4HANA Accounting: The Data Entry and the General Ledger View. Besides the leading ledger, you may also see the document in other, Non-leading ledger in the General Ledger view. Extension ledger in the General Ledger view.
Which level does the cost element category get maintained on? Choose the correct answer. Chart of account Controlling area Company code.
Which G/L account types are relevant for CO? Choose the correct answers. Non-operating expense or income Primary costs or revenue Secondary costs Bank and Cash Accounts.
The transaction OB52 shows three period intervals. Which interval checks exclusively the posting from Controlling (CO) to Financial Accounting (FI). Choose the correct answer. 1 2 3.
Which statements are true for an extension ledger? Choose the correct answers. Contains a full set of journal entries for all business transactions. Stores delta values and points to another ledger. Reporting on the extension ledger always includes the data of the underlying ledger. Multiple extension ledgers can point to the same underlying ledger.
How can you represent different accounting principles in SAP S/4HANA Finance? Choose the correct answers. Ledger approach Accounts approach.
In which table does the information, derived from the document split, stand (requirement: the document split is active)?
Choose the correct answers. BSEG FAGLFLEXA ACDOCA.