bus 301

A Statistical key figure provides the foundation for accurate and effective cost allocations between various cost objects

A Statistical key figure is

Business Process

A _____________ is a collection of linked tasks which are completed in the delivery of a service or product to a customer.

Cost centers

A company assigns budgets to which of the following?

Internal order

A cost object that is used for long-term tracking is a cost center. An example of a short-term cost object is which of the following?

Document principle

A document is generated and stored in the system for every transaction or event that causes a change. What is this?

Individual customers and vendors would require their own GL account making the GL unnecessarily large as a business may have hundreds, or hundreds of thousands, of these kinds of accounts.

A subsidiary ledger (also called a sub-ledger) is used for tracking detailed transactional data separate from the general ledger. Without a sub-ledger what would happen?

All answers given

A work center is a specific physical location in a plant where work is done. A work center can be which of the following?

Customers

Accounts receivable deals primarily with which of the following?

There can be only one activity type assigned to a cost center

Activity Types are the productive output of a cost center. More specifically, it is how we monetize activities. Which of the following are not true regarding Activity types?

We post directly to reconciliation accounts

All of the following are true regarding reconciliation accounts except:

General Ledger Accounts

All postings in FI are made to

Internal orders are temporary meaning they have a specific life span

An Internal order is a type of cost object. What is a primary difference between an internal order and a cost center?

The audit trail begins with an account balance on a financial statement and traces through the accounting documents from the transactions that support the account balance.

An audit trail allows for oversights into financial transactions. Which one of the following statements are correct (read carefully)

General Ledger

An example of FI master data includes which of the following?

The costs incurred in order to produce revenue

An expense is what?

The maximum amount that something can contain or accomplish.

Capacity is defined as ...

Chart of accounts listing contains the definition of each general ledger account including the account number, account name, and type of account (balance sheet, income statement)

Chart of accounts in SAP is an ordered list of G/L accounts that are used by the organization. Which answer contains all of the contents of the chart of accounts?

A legal entity

Company Code represents ...

Organizational data that supports the management, including oversite, reporting and analysis, for revenues and costs

Controlling area is ...

The manager should analyze the differences between the planned costs and actual costs.

Cost centers define areas of responsibility. By capturing costs in this manner, you have the ability to hold managers of cost centers responsible for controlling their costs. Which of the following represents one way the manager can understand their current cost center health?

What our customers want or what we expect to sell

Demand is defined in planning by which of the following?

Detailed planning functions at each plant

Detailed Planning contains the forecasted sales and planned independent requirements which are transferred to which of the following?

The identity of the cost is the same in the receiver as it was in the sender

Distributions are used for periodic allocations. Which statement is true?

Financial Statements

External reporting in SAP FI is driven by legal and regulatory agencies. The reporting statements generally created are known as?

The liability has decreased

For a liability, a debit signifies ...

The asset value has decreased

For an asset, a credit signifies ...

Postings which are the process of entering debit and credit amounts to ledgers

How does SAP save transactional data to record financial transactions?

Financial statement version

If we create a new general ledger and want to include that G/L on the balance sheet which of the following needs to be updated?

Configuration

Material type is a set of rules defined by the company to dictate how a particular kind of material is to be managed. The creating of the rules in SAP is called:

Data summarization also known as data aggregation

SAP uses a hierarchical structure. These hierarchies aid the reporting functions of SAP in what way?

Statistical key figures

Square footage, number of employees and number of computers are all examples of which of the following?

Employee lifecycle

The "hire to retire" phrase is a way to depict the

Balance Sheet

The Financial statement that is used to report assets and liabilities is called which of the following?

Profitability Analysis functions in CO

The Operating concern organizational structure in CO supports which of the following functions?

Material master record

The __________________ contains all the information a company needs to manage a material? (It contains descriptions of the materials a company procures, produces, and stores.)

Document principle

The creation of the specific number that is created when executing an FI posting is an example of which of the following:

client

The highest level in an enterprise. One SAP system can be used for several independent companies or subsidiaries of a company.

Accounts Payable

The reconciliation account used to manage what we owe suppliers is called which of the following?

History of what has been done

Transactional Data can also be viewed as the ...

A Controlling Document is created

Two periodic allocation techniques are discussed in the CO Chapter, they are distributions and assessments. Periodic allocations allow the company to allocate costs collected for a cost center or groups of cost centers to responsible parties, called receivers. Which of the following are true for both types of periodic allocations.

The start date and the end date of an event.

What do validity dates represent in HCM?

These are periodic allocations that are scheduled at a certain time

Which of the following best describe distribution and assessments?

Organizational Structure - Chart of Accounts

ordered list of G/L accounts

Posting

process of transferring entries in the journal into the accounts in the ledger

Organizational Structure - Company Code

represents an independent legal accounting unit

Subsidiary Ledger

used for tracking detailed transactional data separate from the general ledger