Financial Closing in SAP S/4HANA “Ths assessments cesigned tonelp you cneck your knowledge ot tne content proviges inthe course \We recommend you ty the assessment before the traning io check now relevant ihe content of the course is fer you and new much you alreagy know about tis tope. Doing 30 wil assist you n learning the content ofthe course more efectwel. You can also take tis assessment after completing the raining to measure your level of understancing ‘Aner each question you vill receWe feedback on whether your answer was corect or not ana where you can fing fuer information on the correct answer. “This assessment covers ine following unis: 1. Financial Closing Gverview and Base Settings 2. Financial statements 9. Fixed and Curent Assets 4, Recenables and Payables 5. Accruals and Deterals 6. Teennical, Organizational, and Documentary Closing Actes 7. Financial Cesing Cockpit 8 intercompany Reconcitation ‘You can always leave the assessment and frish remaining questions ata later time, Remember, you have fe cick Submit fo finalize your answer Furthermore, you can abvays fepeat the whole assessment, however the lst submited score willbe stored as your result TheTe re cu eal Choose the correct answer(s) Which of the following are the month-end closing activities for external purposes? ‘That is incorrect Perform foreign currency valuations Create extemal and internal reports, Post goods issues for deliveries to customers Close the old periodtate a ee cue! Determine whether this statement is true or false. ‘The managerial closing activities include locking the old accounting period. That's correct V@ ine xO FalseGeena eer Determine whether this statement is true or false. The SAP S/4HANA application provides a standard report (RFBILAQ0) for creating financial statements. That's correct ¥O@ te xO) FalseGee Choose the correct answer's) At which organization levels is it possible to create a financial statement in a standard SAP S/4HANA system? That's correct! x] Clent ievet v (A) Business area level ¥ [4 Company code level ¥ [A Segment levelDetermine whether this statement i true or false. Financial statement versions consist of a maximum of 10 hierarchy levels. That is incorrect. x@ te v© Falseee Determine whether this statement is true or false ‘You can produce different outputs from a standard report program (RFBILA00) by specifying diferent financial statement versions Thats correct ¥@ wo xO Fakeee a Determine whether this statement is true or false. ‘The sample financial statement versions delivered with the standard system can be modified to create your own versions. = | VO@ tne xO Falseoo Determine whether this statement is true or false ‘You can write up to six lines of text at the beginning and at the end of a financial statement version item. That's correct! xO Twe ~@ Faseeer ed Determine whether this statement is true or false. ‘The depreciation position program FAA_DEPRECIATION_POST has to be used to record ordinary (book and cost accounting) depreciation. That's correct ¥@ iW. xO) Falseerrr en errr) Determine whether this statement is true or false ‘You can change the fiscal year in FI-AA before the last period of the old fiscal year. ‘Thatis incorrect. x@ me © FalseChoose the correct answer(s). ‘What checks does the year-end closing program perform? ‘Thatis incorrect. Daprsiations are posted in ull [A Assets are complete and error X [Depreciation lists and the asset history sheet have been checked. % [Last fiscal year has been updated.Fixed and Current Assets > Question Choose the correct answers). Which of the following are the different history sheet groups that each version of asset history sheets can contain? ‘That is incorrect Book values at the end of the fiscal year Acquisitions Imputed interest Repostinger eer Determine whether this statement is true or false The periodic ventory method involves counting all stocks physically on the balance sheet key date. | ee V@ ine xO Falseeee ead Determine whether this statement is true or false The three-step reconciliation involves the purchase order, goods receipt, and invoice receipt. ‘Thatis incorrect vO Ine K@ FaseFix ee eee Choose the correct answer(). What should you check if the balance of the GR/IR account Is not zero at the purchase order item level on the balance sheet key date? Thats incomect Check to s09 if the goods wore invoiced by the key date, but have not yet been delivered % [A_ Check to see i the goods were ordered by the key date, but have not been received VA) Check to see ifthe goods were delivered by the key date, but nave not yet been invoiced # Check to see if the goods were produced by the key date, but have not been invoicedSel Choose the correct answer() In stock valuation, which of the following groups of stocks are valuated? ‘Thats incorrect. ¥ (_] Raw materials, supplies, and consumables ¥ [vi Workin process X [9] Goods invoiced IA Finished goodser eet era Determine whether this statement is true or false. Delta postings can execute revaluation. That's correct ¥@ tre xO) Falsepre oto reer TT) Determine whether this statement is true or false. The settlement of the production order displays the value of the work In progress (WIP) on the balance sheet and, at the same time, Posts the change in stock in the profit and loss statement. That's correct! VO@ ie xO Falseer ere) Determine whether this statement is true or false. During balance confirmation, an output check and an error list are generated for each client. That s incorrect x@ tne © FalseCee errs Determine whether this statement is true or false ‘You must specify at least two addresses to which balance confirmations are to be sent. That's corect! xO Tne ¥ @ FalseChoose the correct ansvrer(s). Which of the following procedures are available to check the balance of receivables and payables in balance confirmations? That is incorrect, Balance confirmation Balance notification Balance adjustment Balance requesterred Determine whether this statement is rue or false ‘You carry out foreign currency valuation after creating financial statements. ‘Thats incorrect X@ Te vO FalseCee eee ec Choose the correct answer. In a valuation method, which of the following is not a valuation approach for foreign currency valuation? ‘Thats incorrect. x ©) Lowest value prncipie X @ Stictiowest value principle xO) Revalue only ¥ © High rate of interest principlePe ern net ena Determine whether this statement is true or false. ‘The valuation method contains the valuation approach to be used for carrying out a foreign currency valuation. Thats correct! ¥O@ tw xO FalsePerry Determine whether this statement is true or false With SAP S/4HANA, you do not have to assign an accounting principle to an Fl valuation area to post foreign currency valuations to different ledgers (General Ledger Accounting). Thats incorrect x @ Tue vO Falseet ed Choose the coect answer How many intervals are defined for the foreign currency valuation run ID per client? That's correct oOoDetermine whether this statement is true or false. ‘The system posts the realized exchange differences in foreign currency during open item clearing. That's correct! ¥@ tne xO Falseeee ad Determine whether this statement is true or false Doubtful receivables are individual value adjustments during year-end closing. Thats incorect vO Tne x @ Fasoeee Determine whether this statement is tre or false In SAP S/4HANA you assign the value adjustment key for the automatic flat-rate individual value adjustments on Fl document level That is incorrect. X@ te vO FalseDetermine vinether this statement is true or false Before creating financial statements, you have to group your receivables and payables according to their remaining life so that ‘they are correctly displayed in the financial statements. Thats comect! V¥@ ine xO Fasefer Perr Choose the correct answer(s). Which two reports should you use to create SAPScript-based correspondence to and from customers and vendors to enable you to verify the balance of receivables and payables? ‘Thatis incorrect SAPF130K X [A] SAPFI3OL vA SAPFI300 x [| SAPFI30Eables and Payables > Question Determine whether this statement is true or false ‘You cannot change the reconciliation account in the customer or vendor master record during @ fiscal year. ‘That is incorrect. x@ te vO Faleee ry Choose the correct answer. Which program Is used to enter accruals and deferrals regularly? ‘Thats incorrect % Q)Compact cosument journal @ devising program ¥ © Acctual Engine * ©) Ledger groupingpes Determine whether this statement is ue or false When you enter a manual accrual posting or deferral document, you have to enter a reversal reason, the reversal date, and the username. ‘Thatis incorrect. x@ tno VO FalseDetermine whether this statement is true or false. In deferral documents, expenses and revenues are posted in the current period but belong at least partially in a future period. That is incorrect. vO Ine X@ FaseTee REL Coe na ee Choose the correct answer(s) Identify the steps performed during the general ledger closing operations for the fiscal year. ‘That is incorrect Foreign currency documents are valuated Accruals are carried out. ‘The balance carryforward program is run. Vendor invoices are posted.Breer Determine whether this statement is true or false. ‘The balance of the profit and loss (P&L) accounts is posted to the P&L carryforward account. Thats correct! ¥@ ine xO False;chnical, Organizational, and Documentary Closing Activities > Question Determine whether this statement is true or false The aystem uses the posting date that you specify during document entry to determine to which posting period the document is poste That is incorrect vO Tne x @ Fase‘Organizational, and Documentary Closing Activities > Question 4 Choose the conect answer ‘To reduce the load on the system, what should you do with the older documents that exist in the database? Thais incorrect x © Delete xO) Extract end delete % @ Backup and delete ¥ © Archive and deleteTechnical, Organizational, and Documentary Closing Activities > Question 6 Determine whether this statement is true or false [After older documents have been archived and deleted from the database, you can still use the balance audit trail to explain an account balance. | Ta V@ ine xO) Falseeee ind Documentary Closing Activi Determine whether this statement is true or false ‘The entities defined as splitting characteristics are inherited in non-account-as ‘Thats correct 4@ in xO FaseTechnical, Organizational, and Documentary Closing Activities > Question 7 Determine whether this statement is true or fase. Parallel financial reporting means that you must create financial statements for a company in accordance with different accounting rules. That's correct! VO Ww xO Falseind Documentary Closing Activities > Question 8 Determine whether this statement is true or false ‘You can only use the leading ledger to model different accounting rules. That's comecttDee een ee ed Determine whether this statement is true or false. The Financial Closing Cockpit (FCC) allows all stakeholders associated with the financial close to access or initiate their tasks in the system. ‘Thats correct! 1@ tne x© FakeSee eee) (Choose the correct answer(s). the FCC? Which of the following types of tasks are available ‘Thats incorrect Vv () Online transactions % [A] Task list tomplato VIA) Flow definition 7) Remote tasksPeete a Choose the correct answer. ‘Which of the following has to be created and assigned to an organizational structure before the Financial Closing Cockpit can be used? Thats incorrect. x Q) Fiowefitions X @ Programs * ©) Subfolders ¥ © Tasklist templateFinancial Closing Cockpit > Question Choose the correct answer Which of the following can you use for multiple programs with variants that are to be processed automatically? That is incorrect. % ©) Online transactions ¥ © Flow definition xO) Remote tasks X @ Task list templateSerer ak) Choose the correct answers) Which of the following are the steps involved in intercompany reconciliation (ICR)? ‘Thats incorrect ¥ [1] Document selection and data storage ¥ [| Automatic assignment of documents ¥ [AL Manu reconciiaion and communication % |) Automatic presentation of reconciled and non-reconciled dataeae rae) Determine whether this statement s true or false. ICR operates at the levels of companies and partner companies (trading partners). That's correct! V@ Te xO Falseey ead Determine whether tis statement is true or false. ICR supports you in the reconciliation of open items in the general ledger and in the subledgers. ‘Thats correct! V@ te xO False