|Every General Ledger is structured according to a ?||
chart of accounts
|What connects the subledgers to the general ledger?||
|The general ledger is managed at what level?||
|The Treasury (TR) focus on what functions||
|Financial accounting is meant for||
Balance Sheet and Income Statement according to GAAP or IAS
|Management accounting is meant for||
internal management information regarding cost and revenue. Mgmt accounting could analyze cost and revenue at a high organizational unit, across countries.
|You should create a company code according to||
tax law, commerical law and other FI criteria.
|One or more company codes can be assigned to a controlling area? (T/F)||
|Controlling areas require||
same operating chart of accounts and fiscal year.
|The GL account consist of||
Type of GL account (P&L or balance sheet)
|Account groups classify GL accounts into user-defined segments and determine the?||
number range of the accounts.
|Reconciliation accounts ensures||
real-time integration of subledger account with the general ledger.
|In the general ledger, postings are limited to reconciliation accounts by the use of||
|The new general ledger in mySAP ERP has the following advantages||
Extended data structure
Document split (Segment)
Reconciliation to Management Accounting
Manage multiple books with parallel accounting
|A held document is||
a document saved and not posted
|The vendor master records contain data that controls how transaction data is posted and processed? (T/F)||
|An invoice entered direct into AP within FI is a||
miscellaneous invoice with no reference to a PO.
Also, a credit memo can be entered in FI AP.
|The vendor name and address in the vendor master is stored at the||
client level. The purchasing organization enters data specific to purchasing in the vendor master before use.
|The customer name and address in the customer master is stored at the||
client level. The sales area (Sale Org, Distribution Channel, Division) must be defined before doing business with the customer.
|The organizational unit used for credit control is||
the credit control area for the customer.
|The credit department sets up a separate?||
credit management master record which is an extension of the customer master record.
|The credit management master record consist of||
General data (address, max limit)
Credit control area data (risk category)
Overview (contains most important data)
|On the day of shipping products to the customer what is created?||
Outbound delivery document
|The goods to be delivered are posted as?||
Goods issue which is created in MM, and accounting document is created for FI.
|What is debited and credited for a goods issue?||
|What are the debits and credits when a billing document is created?||
Debit Customer AR
|A sales order is blocked when?||
Credit limited is exceeded.
|Each asset belongs to a||
company code and business area. Additionally, you can assign the asset to various CO Objects (cost center, internal order) and Logistic Organizational Units.
|Each asset has to be assigned to an asset class such as||
3000 Business Equipment
4000 Assets under construction
5000 Low-value assets
|Plant Maintenance (PM) is used for the _____ ______ of assets. Treasury (TR) is used for managing ______ assets.||
|Asset explorer offers?||
a clear overview of the activity for an asset.
|Reconciliation accounts can be posted to directly? (T/F)||
Post to the subledger account.
|What determines the structure of the balance sheet and income statement as far as which accounts map to which line items on the report?||
Financial statement version
|What are the various acquisitions and retirements that can be posted in asset accounting?||
1. Without a vendor or PO, offsetting GL clearing
2. to a vendor
3. via MM by creating a PO