Podcast
Questions and Answers
What properties are controlled by account groups?
What properties are controlled by account groups?
- Field status of master fields and number range
- Field status of master fields, number range and whether accounts are P&L or B/S (correct)
- Field status of master fields
- Field status of transaction fields
Under what circumstances can transactions be posted to an account in any currency?
Under what circumstances can transactions be posted to an account in any currency?
- Account currency is different from company code currency (correct)
- Account currency is same as local currency of the company code
- Account currency is not maintained
- Under all circumstances
To which type of retained earnings account can P&L account balances be carried forward automatically?
To which type of retained earnings account can P&L account balances be carried forward automatically?
- Multiple retained earnings accounts, through period end processing
- Single retained earnings account, automatically (correct)
- Multiple retained earnings accounts, automatically
- Single retained earnings accounts, through period end processing
Which exchange rate type is picked up as default during FI document creation?
Which exchange rate type is picked up as default during FI document creation?
What conditions must be met to clear open items?
What conditions must be met to clear open items?
Which field statuses are controlled by account groups?
Which field statuses are controlled by account groups?
In foreign currency valuations on G/L accounts, which accounts are considered?
In foreign currency valuations on G/L accounts, which accounts are considered?
How can you display account balances of several related accounts?
How can you display account balances of several related accounts?
What are BA/PC adjustments run for?
What are BA/PC adjustments run for?
What are fast entry screens in FI used to enter?
What are fast entry screens in FI used to enter?
What are easily entered document entry templates called?
What are easily entered document entry templates called?
What are posting keys used to decide?
What are posting keys used to decide?
How many parallel currencies are possible and at what level are they assigned?
How many parallel currencies are possible and at what level are they assigned?
When you reverse a posted document, what must the document number be?
When you reverse a posted document, what must the document number be?
In which currency can financial statements be generated?
In which currency can financial statements be generated?
What views are maintained for vendor master data?
What views are maintained for vendor master data?
Study Notes
Account Groups
- Account groups control properties such as field status and exchange rate types.
Transaction Posting
- Transactions can be posted to an account in any currency under certain circumstances.
Retained Earnings
- Profit and Loss (P&L) account balances can be carried forward automatically to a special type of retained earnings account.
FI Document Creation
- The standard exchange rate type is picked up as default during FI document creation.
Clearing Open Items
- Open items can be cleared if certain conditions are met.
Field Statuses
- Field statuses, such as blocked or open, are controlled by account groups.
Foreign Currency Valuations
- During foreign currency valuations on G/L accounts, only relevant accounts are considered.
Account Balances
- Account balances of several related accounts can be displayed together.
BA/PC Adjustments
- BA/PC adjustments are run for certain account types.
Fast Entry Screens
- Fast entry screens in FI are used to quickly enter documents, such as invoices or payments.
Document Entry Templates
- Easily entered document entry templates are called "document templates".
Posting Keys
- Posting keys are used to decide how documents are posted, such as whether a document is a debit or credit.
Parallel Currencies
- Up to three parallel currencies are possible, assigned at the company code level.
Reversing Documents
- When reversing a posted document, the document number must be the same as the original document.
Financial Statements
- Financial statements can be generated in any currency.
Vendor Master Data
- Vendor master data is maintained in certain views.
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Description
Test your knowledge of SAP FICO with this quiz featuring questions about account groups and transaction currencies. Practice and prepare for your certification exam.
