C_TS4FI_2023 Online Practice Questions and Answers

Correct Answer: B

In SAP S/4HANA, functional areas are defined at the client level, which means they are available across all company codes within the client. This ensures that the classification of expenses and revenues for reporting purposes is consistent

throughout the entire organization.

Defining Functional Areas:

Functional areas are used for internal reporting purposes, allowing the organization to classify expenses and revenues according to specific functions or activities.

The configuration of functional areas at the client level ensures that these definitions are standardized and can be used by all company codes within the client.

Configuration Steps:

To define functional areas, navigate to the relevant path in the SAP S/4HANA system:

Path:SPRO SAP Reference IMG Financial Accounting (New) Financial Accounting Global Settings (New) Ledgers Define Functional Area

Transaction Code:FM_FUNCTION

In this configuration, you can create and manage functional areas, specifying their descriptions and ensuring they are activated for use in the system.

Correct Answer: AB

Foreign Currency Allowed: When defining payment methods at the company code level, it is crucial to specify whether foreign currencies are allowed for payments. This setting ensures that the system can handle transactions in different

currencies, which is vital for businesses operating internationally.

Minimum and Maximum Payment Amounts: This parameter allows you to set thresholds for the minimum and maximum amounts that can be paid using a particular payment method. This helps in controlling the payment process by

preventing very small or excessively large payments that might not be desirable for operational efficiency or risk management.

These configurations are part of the broader setup of payment methods within SAP, as detailed in the SAP FICO module's configuration guides and financial accounting manuals. They ensure that payment processes are tailored to meet

specific business requirements and compliance standards.

Correct Answer: B

Correct Answer: D

For structuring a Profit and Loss (PandL) statement according to cost-of-sales accounting in SAP S/4HANA, it is crucial to define the correct organizational unit. The appropriate unit is:

Functional area: The functional area allows for the categorization of expenses according to their function (e.g., production, sales, administration). This classification is essential forcost-of-sales accounting as it aligns costs with the corresponding revenue-generating activities, providing a clear view of the profitability of different functions within the organization.

Setting up functional areas ensures that the PandL statement accurately reflects the cost structure and supports detailed financial analysis and decision-making.

Correct Answer: BCD

Correct Answer: CD

Correct Answer: CD

Correct Answer: BCE

Correct Answer: D

Correct Answer: AC

When extending a G/L account to a new company code in SAP, it is essential to maintain certain mandatory fields even if all customizable fields are set to optional in the field status. These fields ensure that the account is properly configured

for financial transactions.

Account Currency:This field specifies the currency in which the account is maintained. It is crucial for financial reporting and transaction processing.

Transaction Code:FS00

Steps:

Enter the G/L account and the company code.

Navigate to the "Currency/Tax" tab.

Enter the appropriate account currency.

Field Status Group:This field controls the input fields during document entry. It determines which fields are required, optional, or suppressed.

Transaction Code:FS00

Steps:

Enter the G/L account and the company code.

Navigate to the "Control Data" tab.

Select the field status group relevant to the account.

Without maintaining these fields, the G/L account setup will be incomplete, and you will encounter errors during transactions.

Correct Answer: D

For a company based in France with a permanent establishment in Switzerland where financial statements are required by law, the necessary organizational unit to create is:

Company code: A company code represents an independent accounting unit within SAP. It is the smallest organizational unit for which a complete, self-contained set of accounts can be drawn up for purposes of external reporting. Creating a separate company code for the Swiss establishment ensures that financial transactions are recorded in compliance with local legal requirements and financial statements are generated accordingly.

By establishing a company code for the Swiss location, the organization ensures compliance with Swiss financial regulations and accurate financial reporting.

Correct Answer: BC

Correct Answer: D

Correct Answer: BC

In SAP S/4HANA, the account determination for FI-AA (Financial Accounting - Asset Accounting) is defined on multiple levels to ensure proper categorization and posting of asset transactions. The two primary levels where account

determination is defined are:

Chart of Depreciation:

The chart of depreciation is a key organizational unit in Asset Accounting. It contains the rules for calculating depreciation and valuation for various asset classes.

Account determination is configured within the chart of depreciation to ensure that each asset class is linked to the appropriate general ledger accounts for transactions such as acquisition, depreciation, retirement, and transfer.

To configure account determination at this level, navigate toFinancial AccountingAsset AccountingOrganizational StructuresMaintain Chart of Depreciation (transaction code OAOB

).

Chart of Accounts:

The chart of accounts is another crucial level where account determination for assets is configured. It includes a complete list of all general ledger accounts used by a company.

Specific asset-related accounts are defined within the chart of accounts and linked to various asset classes and transactions through account determination settings.

This configuration ensures that asset transactions are accurately posted to the correct accounts in the general ledger.

Access the chart of accounts configuration viaFinancial AccountingGeneral Ledger). AccountingMaster DataGL AccountsIndividual Processing FS00

Steps to Define Account Determination:

Maintain Chart of Depreciation:

Use transaction code OAOB to define and maintain the chart of depreciation.

Assign the appropriate accounts for various asset transactions within the chart.

Maintain Chart of Accounts:

Use transaction code FS00 to create or modify general ledger accounts.

Ensure that asset-related accounts are correctly defined and linked to asset transactions.

By configuring account determination at both the chart of depreciation and chart of accounts levels, SAP S/4HANA ensures accurate and systematic financial reporting and compliance with accounting standards.

Correct Answer: D