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