Prep. for S/4 Hana Finance 1909 y 2021 E_BookS415_EN

The technical closing activities include locking the old accounting period. TRUE. FALSE.

The SAP S/4HANA application provides the standard report (RFBILA00) for creating financial statements. TRUE. FALSE.

Financial statement versions consist of a maximum of 10 hierarchy levels. TRUE. FALSE.

You can produce different outputs from a standard report program (RFBILA00) by specifying different financial statement versions. TRUE. FALSE.

The sample financial statement versions delivered with the standard system can be modified to create your own versions. TRUE. FALSE.

The depreciation position program FAA_DEPRECIATION_POST has to be used to record ordinary (book and cost accounting) depreciation. TRUE. FALSE.

You can change the fiscal year in FI-AA before the last period of the old fiscal year. TRUE. FALSE.

The periodic inventory method involves counting all stocks physically on the balance sheet key date. TRUE. FALSE.

The three-step reconciliation involves the purchase order, goods receipt, and invoice receipt. TRUE. FALSE.

Delta postings can execute revaluation. TRUE. FALSE.

The settlement of the production order displays the value of the work in progress (WIP) on the balance sheet and, at the same time, posts the change in stock in the profit and loss statement. TRUE. FALSE.

During balance confirmation, an output check and an error list are generated for each client. TRUE. FALSE.

You must specify at least two addresses to which balance confirmations are to be sent. TRUE. FALSE.

You carry out foreign currency valuation after creating financial statements. TRUE. FALSE.

The valuation method contains the valuation approach to be used for carrying out a foreign currency valuation. TRUE. FALSE.

With SAP S/4HANA, you do not have to assign an accounting principle to an FI valuation area to post foreign currency valuations to different ledgers (General Ledger Accounting) . TRUE. FALSE.

The system posts the realized exchange differences in foreign currency during open item clearing. TRUE. FALSE.

In SAP S/4HANA you assign the value adjustment key for the automatic flat-rate individual value adjustments on FI document level. TRUE. FALSE.

Before creating financial statements, you have to group your receivables and payables according to their remaining life so that they are correctly displayed in the financial statements. TRUE. FLASE.

You cannot change the reconciliation account in the customer or vendor master record during a fiscal year. TRUE. FALSE.

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 deferral documents, expenses and revenues are posted in the current period but belong at least partially in a future period. TRUE. FALSE.

Accruals Management: The Closing Posting is the last Periodic Posting which sets the balance to 0 on the accruals account. TRUE. FALSE.

Accrual objects have a time-dependency. If you can change the content of a field, this change is valid from a certain date entered in the Valid From field of the accrual object. TRUE. FALSE.

Purchase Orders (items) for Fixed Assets are relevant for Purchase Order Accruals. TRUE. FALSE.

For purchase order accruals only the accrual account needs to be determined by the account determination. The offsetting account is by default taken from the purchase order. TRUE. FALSE.

Parallel financial reporting means that you must create financial statements for a company in accordance with different accounting rules. TRUE. FALSE.

You can only use the leading ledger to model different accounting rules. TRUE. FALSE.

The balance of the profit and loss (P&L) accounts is posted to the P&L carryforward account. TRUE. FALSE.

The system uses the posting date that you specify during document entry to determine to which posting period the document is posted. TRUE. FALSE.

The entities defined as splitting characteristics are inherited in non-account-assigned posting lines. TRUE. FALSE.

The Financial Closing Cockpit (FCC) allows all stakeholders associated with the financial close to access or initiate their tasks in the system. TRUE. FALSE.

ICR operates at the levels of companies and partner companies (trading partners). TRUE. FALSE.

ICR supports you in the reconciliation of open items in the general ledger and in the subledgers. TRUE. FALSE.

Which of the following can you use for multiple programs with variants that are to be processed automatically?. Workflow. Online transactions. Remote tasks. Task list template.

Which of the following has to be created and assigned to an organizational structure before the Financial Closing Cockpit can be used?. Task list template. Subfolders. Programs. Flow definitions.

Which program is used to enter accruals and deferrals regularly?. Accruals Management. Compact document journal. Devising program. Ledger grouping.

How many number intervals are defined for the foreign currency valuation run ID per client?. 0. 1. 2. 3.

In a valuation method, which of the following is not a valuation approach for foreign currency valuation?. High rate of interest principle. Lowest value principle. Strict lowest value principle. Revalue only.

Which of the following are the month-end closing activities for external purposes?. Perform foreign currency valuations. Create external and internal reports. Close the old period. Post goods issues for deliveries to customers.

At which organization levels is it possible to create a financial statement in a standard SAP S/4HANA system?. Business area level. Company code level. Segment level. Client Level.

What checks does the year-end closing program perform?. Depreciations are posted in full. Assets are complete and error-free. Depreciation lists and the asset history sheet have been checked. Last fiscal year has been updated.

Which of the following are the different history sheet groups that each version of asset history sheets can contain?. Book values at the end of the fiscal year. Acquisitions. Reposting. Imputed interest.

What should you check if the balance of the GR/IR account is not zero at the purchase order item level on the balance sheet key date?. Check to see if the goods were invoiced by the key date, but have not yet been delivered. Check to see if the goods were delivered by the key date, but have not yet been invoiced. Check to see if the goods were ordered by the key date, but have not been received. Check to see if the goods were produced by the key date, but have not been invoiced.

In stock valuation, which of the following groups of stocks are valuated?. Raw materials, supplies, and consumables. Work in process. Finished goods. Goods invoiced.

Which of the following procedures are available to check the balance of receivables and payables in balance confirmations?. Balance confirmation. Balance notification. Balance request. Balance adjustment.

Which two reports should you use to create SAPScript-based correspondence to and from customers and vendors to enable you to verify the balance of receivables and payables?. SAPF130K. SAPF130D. SAPF130L. SAPF130E.

The Functional Area can be filled in a financial accounting document using the following options. Bring this options according their priority (from highest to lowest priority) into the right order. Manual entry. Substitution. Master record of the P&L account. Master record of the CO object.

Identify the steps performed during the general ledger closing operations for the fiscal year. Foreign currency documents are valuated. Accruals are carried out. The balance carryforward program is run. Vendor invoices are posted.

Which of the following are the steps involved in intercompany reconciliation (ICR)?. Document selection and data storage. Automatic assignment of documents. Manual reconciliation and communication. Automatic presentation of reconciled and non-reconciled data.

The balance audit trail displays the balance at the beginning of a peridod and the changes to the account to the period end. TRUE. FALSE.

Which of the following Special Items in the Financial Statement Version can be edited? 3 CORRECT ANSWER. Assets. Profit and loss results. Liabilities and Equity. Financial Statement Notes. Accounts not assigned.

You assign a hierarchy node as a contra item to another hierarchy node in the Financial Statement Version. Which of the following statement is correct?. Select Debit Balance and Credit Balance for each hierarchy node. Both hierarchy nodes contains the same G/L accounts. Both hierarchy nodes must be assigned to the same special item.

The depreciation position program must be used to record ordinary (book and cost accounting) depreciation. True. False.

You can specify one address ID per company code in customizing to which balance confirmations are sent. True. False.

Your company uses the Ledger Approach for Parallel Accounting. Which of the following customizing settings are required for the Foreign Currency Valuation run? 2 correct answers. Assign an Accounting Principle to a Valuation Method. Assign an Accounting Principle to a Ledger Group. Assign an Accounting Principle to a Valuation Area. Assign an Accounting Principle to a Delta Posting Variant.

Choose the correct order of the purchase order accruals processing steps: Transfer - Calculate - Review - Post. B Calculate - Transfer - Review - Post. Review - Transfer - Calculate - Post. Calculate - Review - Transfer - Post.

If the Ledger Group field is filled, the document is posted only to the ledgers of the ledger group. True. False.

What are advantages of using Task Groups in the SAP Financial Closing Cockpit. 2 correct answers. They provides an overview of tasks and their status. They allows cross template maintenance or mass changes. They define program sequences in the preceding task relationship. They covers multiple companies with the same or similar closing tasks.

Which of the following challenges companies face with an increase in the number of mergers and acquisitions?. A disrupted visibility of the reconciliation process between legal entities and subsidiaries. A lack of transparency between legal entities and subsidiaries which makes it complicated to reconcile intercompany transactions between the legal entities and subsidiaries. An increased communication between legal entities and subsidiaries which makes it challenging to maintain data security between the legal entities and subsidiaries.