|service is done NOW,paid LATER it is accural T F.
service is done LATER,paid NOW is it deferrals T F.
service is done LATER,paid NOW it is accural T F.
service is done NOW,paid LATER is it deferrals T F.
accural/deferral document ensures documents are posted in correct posting period. T F.
reversal procedure does not apply to Def/acc documents T F.
Reversal date is the date of reversal posting date T F.
def/acc posting is always done manually for period end closing T F.
acc/def document cannot be reversed without a reason T F.
reversal reason defines reversal documents can have different posting date T f.
reversal document which is comprised of negative posting is specified in reversal reason T F.
if reason and exact amount for expenses is known accrual is posted to provisions account T F.
if reason and exact amount for expenses is not known accrual is posted to other payables account T F.
accural engine is a generic tool for calculating and creating accrual posting T F.
application components of the accrual engine can be defined by user T F.
output of accural engine is periodic posting T F.
manual accrual is a application component of accural engine T F.
description of accrual object is found in basic data of accural engine T F.
basic data is time in-dependent T F.
accural posting do not create document rather updates fiscal year records T F.
accrual engine documents automatically created corresponding documents in FI T F.
periodic start of accrual run or reversal of accrual run is the process triggered from application component of accrual engine T F.
Accrual simulation possible in accrual engine T F.
advantages of accrual engine automatic calculation and periodic posting simulation parellel accounting extensive information system.
To activate application component assign company code to Application Component define accounting principles assign ApplicationComponent to combination of company code and accounting principles fiscal year for required Application Component to be open.
Closing activity of accrual engine recon Accrual Engine document with G/L Documents carry forward accrual objects into next fiscal year.
subject to be accrued is called accrual object t f.
life insurance is an example of accrual object category t f.
insurance is an example of accrual object category t f.
accrual object are grouped in accrual object category t f.
accrual object are identified for each company code t f.
accrual object cannot defined own number and range t f.
each accrual object has several accrual items t f.
revenue is an accrual object t f.
cost is an accrual type t f.
accrual item describes how a accrual type is accrued using a accounting principle t f.
pick the correct ones insurance accrual object revenue/cost gaap/ifrs.
accrual item contains an accrual method t f.
accrual item=accrual type+accounting principle t f.
Posting control is defined for each company code,accounting principle,accrual item t f.
in posting control we define frequency and summaristion level t f.
No seperate line item is created for each item in case of No summarisation level t f.
additional account assignment is summarized in maximum summarisation level t f.
purpose of account determination is to determine document type/debit and credit account t f.
debit account is the target account t f.
start account is the credit account t f.
for each accrual type we define which posting is automatic and hence for which posting account determination is required t f.
Based on account determination, an accrual can be calculated but not posted t f.
for parellel accounting, accrual engine supports parallel accounts and ledgers t f.
account are determined using derivation rules t f.
pick the right one source field target field.
derivation rules consist of condition fields rules parameter.
PARALLEL DERIVATION PROCESSED CONSEQUENTIALLY AND DETERMINE INDEPENDENT RESULTS t f.
Sequential derivation rules must be created in correct order since results are cummulative t f.
example of accrual is rent payment T F.
example of deferrals are insurance payments t f.
we create ______when an expenses or revenue is to be received in the future,but is incurred or earned partly or completely in the current period.
in accrual posting,exact amount is posted to the same account in each period t f.
in _______posting, credit balance on the payable/provisions account increases.
when total amount payable is estimated it is posted in __________account.
functions of accrual engine calculate accrual amounts create related posting define accrual objects define accounts for posting.
user can work with _____________for accrual posting accrual engine application component.
application components of the accrual engine can be defined by user t f.
_______refers to a special accrual scenario and provide optimized user interface accrual engine application components.
accrual engineis used for manual accrual provision for awards lease accounting intellectual property management.
basic data of accrual engine consists of description of accrual subject Information related to accruals to be carried out Accrual postings.
process triggered by application component of accrual engine change in basic data periodic run of the accrual run accrual posting.
Application components must be assigned to the company codes t f.
Required accounting principles must be defined t f.
Application component must be assigned to accounting principle and company code t f.
Current fiscal year must be open t f.
at the end of fiscal year we need not carry forward accrual object since it is being done in G/L ledger closing procedure t f.
if a accrual object is terminated prematurely,the entire residual amount is posted to ________account.expenses expenses account revenue account.
during period end closing part of accrued income account for a deferral posting _______ increases decreases.
during period end closing part of payable account for an accrual posting ___________ increases decreases.
Posting control is defined for each company code accounting principle accrual item accrual type.
some of the posting control frequency are per posting period quarterly half-yearly.
summarization level for posting control are no summarization accrual object summarization maximum summarization.
a separate line item is created for each accrual item in case of no summarization maximum summarisation.
for each accrual type account determination is required for No posting opening posting periodic posting all posting.