Name the possibilities with New GL accounting Legal & Management Reporting CO- FI Real time Integration Segment Reporting Transparency and consistency Accelerated Period closing Parellel Accounting Financial Reporting using any characteristics Standard Enhancement and Etensibility.
Segmental reporting is done for the purpose of Increasing importance of IAS IFRS.
Advantages of New GL accounting over classic GL accounting New GL has an extended data structure in the standard delivary and customer fields can also be added to the General ledger With documet splitting balance sheet can be prepared for the entities like Segments Real time integration between FI-CO Manage Multiple ledgers within the GL accounting (Parellel accounting).
Name the Functions of Classic ledger accounting FI classic ledger Cost of sales ledger Reconciliation ledger EC-PCA Classic profit ceneter (Management) Reporting.
New GL accounting is the combination of Classic ledger accounting and Spl. Purpose ledger accounting True False.
No difference in the interfaces for entering the data and making possible posings between the SAP New GL accounting and the previous Versions. True False.
Course overview of New GL accounting Introduction Ledger Defination Document Splitting Integratioin Parell Accounting Reporting Migration.
For new Installations New Ledger accounting is Active by default in MySAP ERP. True False.
After the Release Upgrade to mySAP ERP Classic ledger accounting will still remain in Active first True False.
New ledger accounting needs to be activated first using the Tracsaction FAGL_ACTIVATION for the existing customer True False.
Activation of New GL accounting is the last activity performed during the migration Project True False.
New Gl Accounting is activated for each Client Co-Code Bussiness Area All the Options.
After the Activation of New Gl accounting the classic Gl accounting paths will be over written. False True.
The Classic ledger accounting path is hidden by the following programme RFAGL_SWAP_IMG_OLD SAP_SWAP_IMG_NEW SAP_SWAP_IMG_OLD All the Optioons.
Several new paths are available with the activation of New GL accounting both in SAP Easy Access Menu and Application True False.
In standard SAP Ledger defination is a combination of Leading ledger (0L) and Totals table FAGLFLEXT. True False.
Leading ledger manages additional local currecies that are assigned to the co-code. True False.
Maximum additional local currencies managed by leading ledger in New GL accounting. 2 3 N 5.
The Leading ledger uses the fiscal year /Posting period variant assigned to the co-code. True False.
No of leading ledgers is New GL accounting 1 2 3 4.
In standard system values from leading ledger are posted to FI CO FI & CO None .
The leading ledgers Inherits many of the parameter controls from Co-Code Client Chart of Depreciation Controlling Area Operating Concern.
We assign Fiscal year variant and the variant of posting period to the leading ledger True False.
In addition to the leading ledger we can defind non-leading ledgers for parell accounting purpose. True False.
Number of Currencies / Fiscal year variants assigned to Non-leading ledger. 3 4 5 N.
Totals table New ledger accounting (FAGLFLEXT) updated more entities than the classic ledger table (GLT0) True False.
Examples of new standard fields in New GL accounting Cost Center Bussiness Area Profit Center Segment.
Account assignment block is required for any field to be added to the totals table True False.
Fields that are updated in the Leading ledger during transaction posting. Sender / Receiver Cost Centers Consolidation Transaction Type / Parter fields Sender / Receiver Profit center Sender / Receiver Bussiness Areas.
Fields that are updated in the Non-leading ledger during the transaction posting. Receiver / sender BA's Profit center and partner PC fields Segment, Partner segment fields Sender / Receiver functional area fields.
Number of standard Scenerios available in SAP 4 5 6 7.
We can define our own Scenerios True False.
Scenerios are used for segmental reporting purpose True False.
Maximum number of scenerios assigned to a ledger 6 1 5 3.
We need to assign Scenerios to Non-ledgers True False.
Name the views that are available in new GL accounting Entry view GL view Posting view Document view.
Entry view is a sub-ledger view True False.
CO object that is used to derive the Profit center and Functional area. Cost center Internal Onder Activity type Segment.
Segment is derived from Profit center Cost center Functional area Internal order.
entities are not inherited to Leading / Non- leading ledgers if scenerios are not assigned to them and segment balance sheet is not possible True False.
Name the entity used to meet the requirements of International accounting principle like..IAS. IFRS &US GAAP. Segment Profit center Cost center Functional Area Business Area.
The Alternate entity used for International reporting other than Segment. Bussiness Area Profit center Functional area Cost center.
Segment is assigned to Master data of Profit center Master data of Cost Center Master data of Bussiness area Master data of Functional area.
Dummy concept exists for the Profit center Cost center Segment All the options.
SAP ERP central component 5.0 and later is used for creating "segmental financial statement". True False.
Document splitting is only relevent to General ledger AR AP AA.
Steps involved in Document splitting Passive Split Active Split Clearing lines / Zero balance formation by balancing charecter. None of them.
Tick the correct one for Passive split Account assignment is inherited to the clearing line items (Payment). Cannot be customized. Account assignment is not inherited to the payment line items. can be customized.
Tick the correct options for Active split (Rule based). Systems splits the document based on the splitting rules Document splitting rules can be configured System does not splits the ldocument based on the splitting rules Document splitting rules can not be configured.
Tick the correct statement for Clearing lines in document splitting. Clearing lines are created automatically to achieve the split. Clearing lines are not created automatically to achieve the split. This is controlled by Zero balance indicator, All the Options.
Tick the correct statement for passive split in document splitting. Ensures the account is balanced Encures the Profit center is balanced Ensures the segment is balanced Bussiness Area User defined entities.
Clearing lines are always formed when values have to be reposted between account assignment objects. True False.
Transfer values from Profit center A to profit center B is a function of Clearing lines passive split Active split All the options.
In Document splitting, Active split and Clearing lines are supported by Inheritance default account asssignment Charecteristics Fields.
Process Sequence in document spliting 1. Passive split 2.Active split 3.Cleating lines Random pick.
Select the correct statement regarding document splitting Logical document splitting charecteristics is based on assigned scenerios Additional document splitting characteristics should use these characteristics in atleast one ledger. To create the charecterstic Balance sheet, set the Zero balance indicator. The balance of the involved entities is always zero for every posting ensuring entity balance.
Document splitting is first activated at the client level and then can be activated / de-activated for each company code based on the requirement. True False.
Tick the correct statement related to Inheritance in Document splitting. If we are not using Inheritance, need to define Rules for the Bussiness process to ensure the account assignment are projected. Activation of inheritance is the first step to enable the documents to be posted when doucment splitting is active, without customization. Inheritance is performed online at lineitem level Inheritance is performed on periodic basis.
New Gl accounting simulation of document is for Entry view GL View Posting View Subledger view.
Tick the correct statement regaring Splitting method. Total of all splitting rulesof all bussiness Transactions defines how document splitting is performed. Each method will define how each item category is handled Whether the account assignment of customer item is copied from the revenue items to a customer invoice Individual document splitting rule defines which item categories can/will split.
In document splitting, simulation will provide the expert mode on all parameters of document splitting method fo Bussiness transactions and splits the amount. True False.
Please tick the correct statement related to partial clearing in doucment splitting. Create a new line vendor item the residual item will be split among the original expenses in the GL View Residual item will be split among the original expenses in entry view All the options are correct.
The busines transaction variant is a general breakdown of actual business processes provided by SAP and thatis assigned to a vide variety of Item categoris. True false.
An item category is a map of posted line items. True False.
An item category describes the items that appear within a document (Business transaction). True False.
Item categories are derived form the account types of GL accounts. True False.
Item category is a semantic description for document split. True False.
An individual splitting rule defines which item categories can / will be split and the same time defines which base can be used(base item category). True False.
Which of the following statements are correct regarding document splitting for the vendor payment process? The selected document splitting characteristics have to be inherited to posting lines of the payment document as well. The payment doucment is split on the basis of document splitting rules of the original expense posting / vendor invoice.
The inheritance indicator ensures that the corresponding account assignment objects are projected to the petty cash and tax line items, even without corresponding splitting rules. True False.
The Inheritance indicator ensures a Zero balance setting for entities selected for doument splitting, without requiring you to define any other system settings. True False.
Reason for re-posting - A veneror invoice was assigned to an incorrect segement and paid with this incorrect segement. In this case both the vendor and the expense items are obviously need to be corrected. True False.
New GL accounting integrates with the Following . Integration with Sub-ledgers of FI. Integration with controlling. Integration with Material Management. Integration with Sales and distribution.
New Gl accounting provides integration with the Following sub ledger of FI. Accounts payable Accounts Receivable Asset Accounting General ledger accounting.
Which of the following is true regarding the integration of New ledger accounting with Controlling? Real time integration fron CO to FI. Onlin distribution of follow up costs.
In the new GL accounting, the account assignment objects in the revenue line item are inherited to the customer and tax items in the invoice. The same can be seen in the GL view of the document display. True False.
The customer and tax line items of a customer invoice with different account assignment objects in the revenue lin items are split online, in proportion to the amounts in the revenue line items. The same can be seen using General ledger view. True False.
Regarding the doucment splitting of customer, when payments are received, the bank and any cash discount items are split anallogous ot the revenue lines in the original customer invoice. True False.
The new entities within New GL accounting in mySAPERP, such as segment or profit center, cannot be defined directly in the asset master record. The system derives these two objects from the cost center or order, which can be maintained in the "Time-dependent data" for the asset. True False.
Document splititng also works in the case of the segementation of an asset acquisition that is posted for multiple assets with different segment assignment. True False.
In new Gl accounting, the reconciliation accounts such as asset balance sheet accounts and value adjustment accounts are already classified internally as item categories. True False.
The item categories for the asset retirement accounts may still need to be defined. True False.
FI drilldown report let you create segment or profit center financial statements immediately using T.Code -FG10 and as result, you no longer have to transfer asses to profit center accounting for profit center financial statement. True False.
In new GL accounting, the cost center of an asset is not displayed in the entry view or the general ledger view by defalult. This means that the asset balance sheet value is not forwarded to a CO account assignment object. True False.
In New GL accounting, the post capitalization of cash discount to asset is only possible if document splitting is active. True False.
The post capitalization of cash discount to an asset works if the function was already configured when the invoice was entered. It will not work if we simply activate the function before entering the payment. True False.
CO reconciliation with financial accounting always require the reconciliation ledger, which is maintained in Cost element accounting. True False.
Using the reconcilaiton ledger in New Gl accounting, we can also create financial documents for CO documents entered before New Gl accounting was activated. True False.
It is also possible to transfer primary costs to FI through account detemination. False True.
You can navigate from CO document to the FI document genreated in real time and in the opposite direction. The bi-directional navigation is possible because of the real - time integration between CO and FI. True False.
Periodic processing of New GL accounting includes, Reduction of Total cost of owner (TCO) Foriegn currency valuation.
Which of the following period end activities have been eliminated due to New general ledger accounting? Maintenance and use of reconciliation ledger. Balance sheet adjustment Profit and loss adjustment Maintenance and use of the various FI -SL ledgers many tasks are also eliminated because technical support for segment reporting is available.
Use of new ledger accounting can save you from many periodic closing and reconciliation operations, because the system has already performed them in real time. This leads to acceleration of period end activities. True False.
Examples of period end closing task that are not eliminated but are changed slightly as the new GL logic. balance carry forwar. Re-classification / sorting of receivables and payables. Flate rate individual value adjustment. None of the options are correct.
Foriegn currency valuation run requires an entry of a valuation area and this must be defined and be assigned to a valuation method. True False.
Which of the statement related to parell accounting are correct? Paralell accounting means that a company's financial statements need to be created in accordance with different accounting principles. Paralell view is required because, a local view is no longer sufficient by itself in a globalized world of creditors and Business partners. An internationally recognized accounting standard is increasingly in demand. None of the statement are correct.
Examples of internationally recognized accounting principles. IAS IFRS US GAAP None of the option is correct.
Which of the following statement is correct related to New GL accounting. Different accounting principles can be modeled using the "Account approach" in new GL accounting. In addition to the accounts, however, New genreral ledger accounting also lets you use different ledgers to save the different valuation approaches. This is called the ledger approach in New Gl accounting. Special purpose ledgers are not as functional and unifrom as the ledger approach in New GL accounting. All are wrong.
Choose the correct statement related to new GL accounting. In the system, each client has exactly on eleading ledger in new general ledger accounting. You can also define additional ledgers within the general ledger. We can use different ledgers, for example, to portray different accounting rules. None of the statement is correct.
The leading ledger is the only ledger that is integrated with CO. True False.
we can use different fiscal year variant / additional local curriencies differing from that used in the leading ledgers within one company code using non-leading ledger. True False.
A valuation area is assigned to exactly one valuation method - but the same valuation method can be assigned to multiple valuation areas. True False.
For the foriegn currency valuation in New GL accounting, which of the following are correct? We need to define the valuation area We need to define accounting principles. we assign accounting principles to valuation area We have to combine the accounting principle with the corresponding ledgers. In addition to the leading ledger, we need atleast one Non-leading ledger.
Since postings are made to the same accounts in the different ledgers in the new GL accounting, it is sufficient for the account determination to be defined only for the valuation area "Blank" in the foriegn currency valuation. True False.
which of the following statements are correct related to Foriegn currency valuation through New GL accounting. The system automatically derives the account to post the exchange rate difference through account determination. The posting document generated by the foreign currency program is reversed automatically with the same program, on the first day of next month.
Ledger group consists on one or more non-leading ledgers and we have to define "document types" for entry view in one ledger. True False.
which of the following statements are true related to integration with FI-AA in New GL accounting. The FI accounts to which postings are made in the ledger approach in New GL accounting are exactly the same ones in each depreciation area. The valuation approaches can still differ, however, because they are saved in different ledgers. For the aquisition o f an Asset, values are updated in all the ledgers simultaneously during one posting. A document will only be created in the delta depreciation area for an aquisition posting if different APC values have to be entered. The delta valuation area is often required for retirement postings. The Fi document from the delta area is not informative in itself. You can only read it together with all the areas values.
New Gl reproting covers, Camparison of data in classic general ledger accounting and new GL accounting. Use of FI drilldown reporting in new General ledger accounting. Line item and balance display in New GL accounting. All the statements are wrong.
we can compare leading and non-leading ledgers in new GL accounting. True False.
Even when the New GL accounting is active, you can still use the classic ledger to create the Balance sheet and profit and loss statement. True False.
A legacy data transfer is used to transfer the data from the legacy system to the SAP system with activated new general ledger accounting. False True.
A migration transfers the data from classic general ledger accounting to New general ledger accounting. True False.
For Legacy data transfer and migration, we require to set up two different separate projects. True False.
The migration tools are used to transfer the data from classic accounting to new general ledger accounting. True False.
IFRS stands for: International financial reporting standards Indian financial reporting standards Individual foreign reporting standards Indian foreign reporting standards.
IAS stads for: International Accounting standards Indian accounting standards Individual accounting stadards International act for style.