Which is correct? Accrual on the right Accrual on the left Deferral on the right Deferral on the left.
________: Financially, expense and revenue belong to the current period and are only posted to a subsequent period once an invoice has been received or issued.
_______: Expense and revenue are posted to the current period upon receipt and issue of an invoice, but financially they belong, at least partially, in a future period.
The booking of an accrual as an expense is posted as a credit to the account in following ways:
● _____: If you are certain about the reason and amount of the accrual.
● _____: If you are uncertain about the amount and/or reason of the accrual and can only estimate it.
You must create accruals when an expense or revenue will be received in the future but is incurred or earned, either partly or completely, in the current period. The _______ program is suitable for posting accruals, since the exact same amount is posted to the same accounts in each period.
When you enter a manual accrual posting or deferral document, you have to enter a reversal reason, the reversal date, and the username. True False.
In _______ documents, expenses and revenues are posted in the current period but belong at least partially in a future period. Accrual Deferral.
Line up the below in regards to how GL account balances are treated at year end close. Balance Sheet Accounts Profit and Loss Accounts.
The balance carryforward must be executed for all representative ledgers. True False.
In order to determine the planned depreciation values for the depreciation run, the system automatically triggers a _______ of values for all fixed assets in the new year.
posting periods for your company are defined by the _______.
Line up the below for account types: + A D K S M V.
In SAP S/4HANA Period interval ___ is used for postings from Controllinig (CO) to Financial Accounting (FI).
In SAP S/HANA postings in FI (CO-relevant) and postings in CO (FI-relevant) need open periods in FI (Transaction: FAGL_EHP4_T001B_COFI) and the CO Period Lock (Transaction OKP1). True False.
The ________ displays the balance at the beginning of a period and the changes to the account to the period end.
Reason for Balance Audit Trail are: To display posting information for a fiscal year and document status in Financial Accounting. To provide a statement for an external audit. To send communication to vendors with a debit balance. To verify all subledger balances match associated GL accounts.
Account Balance Audit Trail, compact journal list is sorted by: .
Account Balance Audit Trail, compact journal list is sorted by: posting period, doc type fiscal year, company code ledger, account.
_________ functionality ensure all lines on a document are populated with each characteristic.
Document splitting is only relevant for the general ledger; it does not need to be visible from within the subledgers True False.
The payment document is split according to the splitting rules of the ______ expense posting/vendor invoice.
In addition to the accounts based approach, SAP S/4 HANA features the ________ approach.
_______ financial reporting means that you must create the financial statements for a company in accordance with different accounting rules.
Which accounting approach does SAP recommend: Account-based Ledger Equivalent Neither.
All ledgers integrate with CO. True False.
_______ ledger stores delta values and points to another ledger, therefore providing a flexible mechanism for adjustments and reporting. Extention Leading Standard Non-leading.
Standard ledger can be closed and the assigned extension ledger can be open. True False.
The general ledger view of a document will show all ledgers (leading and non-leading) at once. True False.