The central task of ______ is to provide a comprehensive picture of external accounting and financial records. The ______ serves as a complete record of all business transactions.
Every posting that is made in a ______ generates a corresponding posting to the assigned G/L accounts. They must always be reconciled with the GL.
The important tasks of Financial Accounting (FI) are:
1:
2:.
_______ accounts connect the subledgers to the G/L in real time.
A couple of the big FI subledgers: AP AR.
SAP Financials can be subdivided in two major parts:.
Has the task to meet legal requirements: Financial Accounting Management Accounting.
The main tasks of Financial Accounting are: (Pick THREE): Post all financial transactions, revenues, and expenses. Keep transactions unchanged in the system for reporting purposes. Setting up financial statements for legal requirements. Analyze cost variances and inefficiencies. Provide results for individual cost objects. Provide data for cost center managers, project managers, and other employees.
Internal tool for controllers and internal reporting:.
The main tasks of Management Accounting are as follows: (pick FOUR) Reflect cost and revenues. Analyze cost variances and inefficiencies. Provide results for individual cost objects. Provide data for cost center managers, project managers, and other employees. Post all financial transactions, revenues, and expenses. Keep postings unchanged in the system for reporting purposes. Allow the setting up of financial statements.
Because management accounting is internal, you may use different values than used in FI. Below are some special terms for costs in CO.
_____ not incurred directly and are also referred to as "additional".
_____ are excluded in CO.
_____ can be used to valuate cost of purchased goods or cost of goods manufactured differently.
The G/L is managed at the ______ level.
Different balance sheet and P&L structures to meet reporting requirements of your country or your used financial reporting standards. These structures define which accounts should appear in which balance sheet items.
General Ledger Accounting has one leading ledger in each client. However, other ledgers can also exist within the G/L, for example, to provide different ledgers for different accounting reporting standards.
This concept is called:.
In this image, the top represents ______ and the bottom represents______.
The level at which _____ is needed is determined by law. Legal reporting is different for each country.
_______ analyzes costs and revenues at high levels across country boundaries.
In SAP S/4HANA, Financial Accounting and Management Accounting use common line items for actual data, stored in a _______. The technical name of the table is ______.
In this image, what does the middle part represent?.
Which of the following are benefits of S/4 Hana financials? (Pick THREE) No reconciliation between FI and CO. No need to export data to BI. Reduction of memory footprint through the elimination of redundancy. Uses SAP GUI. Allows for data extracts on the fly. Uses bolt on Tax application software seamlessly.
In this image, name the parts of Management Accounting shown.
1:
2:
3:
4:
5:.
The top org unit in FI:
The top org unit in CO:
The top org unit in CO-PA:.
A CO controlling area can have more than one FI company code assigned to it. True False.
CO area and its company codes: Must have the same currency. Can have different currencies.
A CO area and its linked FI company codes must use the same ______ and the same ______.
You want to link the operating chart of accounts to a country specific account. What do you use to do this?.
The central Org Unit in PA is the _____.
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