Open a new accounting period in Financial Accounting (FI), close the previous month in materials management (MM), close subledgers in FI. Which are these Preclose Activities Close Activities.
In CO, allocations and repostings are part of: Preclose Close.
In FI, you peform valuations of open items in foreign currency as part of: Preclose Close.
For year end, the FI balance carry forward happens as part of: Preclose Close.
For year end in FI, perform GR/IR clearing account analysis, reclassification of receivables and payables, reconciliation of prior year to new year, and other adjustment postings as part of: Preclose Close.
What's the standard program for financial statements?.
Profit and Loss amount will be calculated and displayed on the standard delivered financial statement program in SAP S/4 Hana. True or False True False.
In order for accounts to show on the financial statement, they must be assigned to a ________.
On financial statements, the net profit or net loss is only determined from accounts that are assigned to the ______ and _____ FS items.
Financial statement versions consist of a maximum of ____ hierarchy levels. Each can have up to ___ lines of text.
For accounts with fluctuating balances, you can use _________ to determine whether the balance of a specific account group must appear on the debit side or credit side of a specific financial statement item.
All accounts are shown on the financial statement, regardless of whether they have a balance or not. True False.
________ reports simplify navigation through your data.
The basis of drilldown reports are 2 things. What are they?.
In drilldown reports, _______ define how your data can be classified or provide a time reference characteristics key figures.
In drilldown reports, ________ include stored values or quantities, and calculations based on these values and quantities. characteristics key figures.
Company code, business area, segment, profit center, chart of accounts, financial statement item, currency, fiscal year, period, and so on would be examples of _________ in drill down reports. characteristics key figures.
Total credit balance, total debit balance, balance sheet value, accumulated balance, balance carry forward, and so on would be examples of _______ in drilldown reports. characteristics key figures.
Within drilldown reports - there are 2 types of lists. Line up the below with examples of each. Drilldown list Detail list.
Pick which below is correct: The asset depreciation posting program posts directly to the FI accounts. The asset depreciation posting program creates a BDC which you review and process as a separate step.
Which of the below is true regarding the depreciation posting program? Postings can be made to as many real Controlling (CO) account assignments as required. Postings can only be made to one real Controlling (CO) account assignment object. Additional statistical postings can be made to other objects.
Pick which is true: The FI-GL balance carry forward does the Fiscal Year Change in AA and allows you to post in the new year. FI-AA uses a separate program to make the Fiscal Year Change in AA and allows you to post in the new year.
The Year End closing program in FI-AA has which error checks: Depreciations are posted in full. There are no incomplete assets. Imputed interest has been fully calculated. AuCs are completely settled.
Name the most important and comprehensive report for closing.
As part of MM close, the ________ determines the quantity of stocks to be displayed on the balance sheet. There are 3 methods - name them.
Line up the method of physical inventory on the left with the example on the right. Continuous inventory Periodic inventory Cycle counting.
In MM close, if there is a reduction in stock due to the physical counting, the following postings are made in Financial Accounting: DR CR.
It is recommended to maintain the GR/IR clearing account on a _____ basis. (ie, what time period).
The GR/IR clearing account must be zeroed out on a ______ level.
For AP/MM in transit stuff - line up the following. Invoiced, not delivered Delivered, not invoiced.
Pick which of the below are asset history sheet groups: Book values at the beginning of the fiscal year Acquisitions Retirements Reposting Depreciation Book values at the end of the fiscal year Imputed Interest Transfers.