ERP test 1

which program is the operating system for an entire company's business processes

SAP Netweaver

Bank ledger

A general ledger is a company's set of numbered accounts for its accounting records. ... The ledger holds account information that is needed to prepare financial statements and includes accounts for assets, liabilities, owners' equity, revenues and expenses

which process tracks the financial impact of process steps with the goal of meeting legal reporting requirements?

financial accounting

What is the correct group of segments of the vendor master

general data, accounting data and purchasing data

semi finished goods (HALB)

goods still in production

product lifecycle management

helps companies administer the process of research, design and product management

How does ERP play a role in research design and product management?

helps to bring a business together more easily and can help to identify problem areas and needs for more efficiency while providing information ?

what type of asset has a non physical form

intangible assets

who is concerned with the storage and movement of materials

inventory and warehouse management

what best describes the operative COA?

it contains the operational accounts that are used to record the financial impact of an organization's day to day transactions

What is true of instance level reporting?

it provides the state of the occurrence of a process & it is based on the data in the transactional system

What does each plant have individually?

its own purchasing organization

Which process supports the design and development of products from the initial product idea stage through the discontinuation of the product

lifecycle data management

what enables an organization to optimize its product development process from design to market while ensuring that it complies with industry, quality and regulatory standards

lifecycle data management

In which element of the lifecycle data management process does marketing play a role?

make, marketing and service, and discontinue a product

what is NOT an organizational data type in procurement?

manufacturing plant

What master data is used in numerous processes?

master data

what are materials with similar characteristics

material group

what is concerned with matching the demand for materials in the organization with the supply

material planning

What are master data grouped based on?

material type, company code, and organizational element

trading goods

materials purchased from a vendor

finished goods (FERT)

materials that are created by the production process from other materials

Raw materials

materials that are purchased from an external source (a vendor) and used in the production process

revenue

money a company earns by selling its products and services

a purchasing group is an individual or a group of individuals who are responsible for all BUT one of the following

negotiate contracts and agreements

how many company codes can a plant belong to

one

which of the following is used to implement multiple ledgers and use each ledger for different purposes

parallel accounting

What is the final step of the procurement process

payment

in which components of the asset management process is production involved?

perform maintenance, authorize maintenance and request maitenance

Which process involves the actual creation of products

production process

The term materials encompasses which of the following?

products, components, parts, and anything used in an organization

which process is used to plan and execute large projects such as the construction of a new factory or the production of complex products such as airplanes?

project management

What is an intersection or combination or material and vendor data

purchasing info record

What are the material classifications?

raw materials, trading goods, semi finished goods, and finished goods

What activities are related to the procurement process?

receive materials, prepare for store, store materials

Facts about business processes

they are executed across multiple functions, they are initiated by some type of trigger, and they all involve multiple steps

what reflects the consequences of executing process steps

transaction data

What are steps within a generic business process of an organization?

trigger and outcome

Organizational data

used to represent the structure of an enterprise

material planning

uses historical data and sales forecasts to plan which materials will be procured and produced when and in what quantities

financial accounting docs, management accounting or controlling docs, and material docs are all referred to as?

virtual documents

What are components of the production (make) process?

warehouse and production

Describe media that can be communicated with vendors and SAP

web services, EDI, fax, print

what are some different assets?

what a company owns, cash, inventory of materials and buildings

what identifies tasks that are scheduled to be completed in a process

work lists

Identify SAP software system

...

fulfillment steps

1. trigger customer; inquiry or purchase order 2. pre-sale activities- contracts, quotations 2. sales order processing (sales order) 3. shipping (picking doc) 4. billing (customer invoice) 5. payment (customer payment)

procurement steps

1. trigger 2. requirements determination (purchase req.) 3. source of supply known? 4. determine source of supply (request for or quotation) 5. vendor section and evaluation 6. purchase order processing (purchase order) 7. goods receipt (delivery doc.) 8. invoice verification (invoice) 9. payment processing (payment

What are the different financial accounting accounts

A/P, A/R, assets

Which process focuses on people within an organization and includes functions such as recruiting, hiring, training and benefits management?

Human capital management

Which processes focus primarily on people and projects?

Human capital management and project management processes

What are the goods used in goods receipts?

Material ordered, Quantity delivered, Verification, and Storage location

What is the role of the purchasing organization?

Procuring Materials. One role of the purchasing department is to procure all necessary materials needed for production or daily operation of the company

which category is used when the company acquires a fixed asset?

asset

A plant can be used to represent what?

a factory, a storage facility or an office

accounting reconciliation

a general ledger account that consolidates data from a group of related sub-ledger accounts. ex:A/R, A/P, and assets

What is known as a storage location

a place within a plant where materials are kept until they are needed

business processes

a set of tasks or activities that produce desired outcomes

Silo Effect

a system in which works complete their tasks in separate departments without regard to the consequences for the other components of the process

What is a key process in financial accounting

accounts receivable accounting

what process is used to manage money owed by customers for goods and services purchased from the company?

accounts receivable accounting

what are sub-ledger accounts

accounts specific to something ex: customer, vendor, and item

production

actual creation of products. the production process is concerned with acquiring materials needed internally

what transaction does not occur during the life of an asset

allocation

which process is concerned with recording data associated with bank statements?

bank ledger accounting

financial statements can be generated from which of the following?

both operative and country specific COAs

Cross functional

business processes that are not executed by a single group or function

what three processes are directly related to creating and delivering products and services?

buy, make and sell

Which term refers to an ordered listing of accounts that comprise a company's general ledger

chart of accounts

the highest organizational level in SAP RP is the

client

What is NOT a model of the purchasing organization?

client level

Examples of organizational data

client, customer & vendor

fufillment

consists of all the steps involved in selling and delivering the products to the organizations customers

what are materials acquired to be consumed or used within the organizaiton

consumable materials

What do enterprises do to break the silo effect?

create a unified vision among all departments, motivate and incentivize, use development patterns that support the workflow, show the big picture

examples of master data

customer and vendor

How do ERP systems connect with customer enterprise systems?

customer relationship management

the cons of ERP

customization options are limited, costs A LOT if fails, migration to the system could be expensive, company wide data easily accessible

production managment

deals with the planning, forecasting, and production, or marketing of a product or products at all stages of the product lifecycle. Similarly, product lifecycle management (PLM) integrates people, data, processes and business systems.

What is NOT a document in purchasing

delivery document

a purchasing organization is involved in all processes BUT

determining storage locations within the plant

what provides the tools to manage and store documents securely and keep track of the multiple versions of these documents

document management

Which departments take part in the conception of an idea

engineering and marketing

What are components of the lifecycle data management process?

engineering, marketing and production

What is the three step process of invoice verification?

enter the invoice, release blocked invoices, and service purchase order (assign cost center and such)

procurement

refers to all the activities involved in buying or acquiring the materials used by the organization, such as raw materials needed. comprised of five steps completed in three functional areas

architecture

refers to the technical structure of the software, how users interact with the software and how the software is physically managed on computer hardware

software architecture

refers to the technical structure of the software, how users interact with the software, and how the software is physically managed on computer hardware.

Master data

represents entities associated with various processes. most common is material master

characteristics of organizational data

represents entities such as customers and vendors & defines the structure of an enterprise

What is true of master data

represents entities such as customers and vendors & it is a consequence of the execution of process steps

expenses

represents the costs associated with creating and selling products and services

What activities are related to the production process?

request materials, store materials, locate materials, and issue materials

What data type is NOT relevant to the purchasing process

sales master

What are components of the fulfillment process?

sales, warehouse and accounting

the benefits of ERP

save costs in the long run, decrease labor, connect a business with itself, connect a business more with companies and vendors, provide faster feedback...etc

what is not counted as a mode of acquiring an asset for a company

selling equipment

inventory and warehouse management

storing and tracking of materials

what type of asset has a physical form

tangible asset

The key data in the purchasing view are

the purchasing group, the goods receipt processing time and the delivery tolerances