Data from Internal and external Accounting are to be reconciled. The _______ generates the necessary reconciliations postings.
About Reconciliation Ledger we can say ( Choose the options that you think correct) External postings to Financial Accounting that affect cost accounting are transferred Automatically (online , realtime) to the Manangement Accounting Components. Allocations done within the Management accounting across company codes, functional areas , or business areas, are posted in Financial Accounting automatically. REconciliation ledger is used to create posting for reconciling Financial Accounting and Management accounting postings. Provides information on Cross Management Accounting Cost Analysis Acts as Navigational aid and access to Management Accounting Data from the P & L Account.
During each update in Management Accounting , the transaction is updated in three currency amounts . Please chose the correct answers Object Currency Controlling Area Currency Transaction Currency Company Code Currency Group Currency Operating Currency.
The Reconciliation ledger differentiats postings and provides total according to : Accounts (Cost Elements) Company Code Business Area Origin Group ( Sub division of Cost element) Object Class Functional Area Activity Profit Centere Object Type ( Cost center, project, business process and so on).
The Four Management Accounting Object Class are Overhead costs (OCOST) Investment (INVST) Production ( PRODT) Profit and Loss ( PROFT) COST ELEMENTS INTERNAL ORDER.
The SAP System contains special Cost element reports for evaluating the REconciliation Ledger. These reports are useful in Comparing the reulsts of Management and Financial Accounting Displaying cost for each oject class Displaying cost flows between company codes, business areas, and functional areas Drilling down to line item reports Generate Profitability analysis Valuate the stock.
You need to create Adjustment and Clearing accounts in Financial Accounting to make the reconciliation postings. True False.
Match the following : Standard Account Detemernination Extended Account Determination.
In substituion rules you can use any field in the reconciliation ledger (functional area, company code, cost element and so on) as a substitution condition. Correct Incorrect.
You need to maintain ________ for each chart of account.
If the reconciliation account was determines using an earlier version of the standard account determination you CANNOT replace this account with the new one with substituiton. Correct Incorrect.
Adjustment Accounts for Secondary Cost elements needs to be created for REconciliation postings. True False.
REconciliation Postings are used for trsanferring postings from MA to FA that are Cross Company Code Cross business area Cross Client Code Cross Functional area.
You can create reconciliation postings for FI automatically True False.
You can make reconciliation postings only on closing of accounting year or financial year. True False.
The SAP system postis only the difference between the new CO Values and the last reconciliation posting made. True False.
Everytime the reconciliation postings are made, the whole values are replaced with the new values and the old values are over written by the SAP system True False.
Which of the following statements are correct ( Choose the correct answer) The period lock is done to lock plan and actual business transactions for a combination of controlling area, fiscal year and version Ther period lock is done to lock only actual business transaction for a combination of controlling area, fiscal year and version The period lock is done only to lock plan business transction for a combination of Controlling area , fiscal year and version The period lock is done to lock plan and actual business transaction for a combination of Company code, fiscal year and version The period lock is done to lock plan and actual business transactions for a combination of business area, fiscal year and version.
The period lock can be done with reference to a single business transaction from a list of all the actual and plan business transactions True False.
The period lock cannot be done for all business transcations for a period. You can lock only with reference to business transactions and not with reference to period. True False.
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