BCSE ERP Financial Accounting (FI) 3

Question 1

What is 'parallel accounting' in SAP FI?

Accepted Answer

Maintaining multiple sets of books under different accounting standards (e.g., US GAAP and IFRS)

Answer

Parallel accounting in SAP FI allows companies to maintain multiple ledgers under different accounting principles simultaneously, such as local GAAP and IFRS.

Question 2

Which SAP FI transaction is used to display a vendor account balance?

Accepted Answer

FK10N

Answer

Transaction FK10N displays the account balance and line items for a specific vendor (creditor) in SAP Accounts Payable.

Question 3

What does the SAP transaction F110 perform?

Accepted Answer

Runs the automatic payment program to process outgoing payments

Answer

Transaction F110 runs the Automatic Payment Program in SAP FI-AP, which selects due invoices and processes outgoing payments to vendors.

Question 4

In SAP Asset Accounting, what is 'depreciation area'?

Accepted Answer

A valuation view that calculates depreciation according to a specific set of rules or accounting standard

Answer

A depreciation area in FI-AA represents a specific valuation view (e.g., book depreciation, tax depreciation) with its own depreciation method and useful life.

Question 5

What is the purpose of the SAP 'closing cockpit'?

Accepted Answer

To manage and schedule period-end and year-end closing activities

Answer

The SAP Closing Cockpit provides a centralized tool to schedule, execute, and monitor all period-end and year-end financial closing tasks in a structured workflow.

BCSE ERP - Business Certified SAP ERP Practice Test

BCSE ERP - Business Certified SAP ERP Practice Test

BCSE ERP Financial Accounting (FI) 3