1. Which of the following types of tasks are available in the Financial Closing Cockpit?

2 correct answers
A. External Job
B. SAP PCS
C. Programs with program variants (background processing)
D. Process Chain
Explanation: The following types of tasks are available in the Financial Closing Cockpit:
Programs with program variants (background processing): Standard programs are available for processing
activities in the background. If these programs are included in the task list template with corresponding
parameters (that is, with a variant), you can start background processing directly from the FCC. Without a
program variant, you can start and process the report in the task list of the FCC.
Transactions: Start online transactions manually from the task list and go directly from the FCC to the
relevant application transaction.
Flow Definition: Use flow definitions to process multiple programs automatically without interruption.
You combine such programs with variants to form a logical flow chain with predecessor and successor
relationships.
SAP CPS: Create and schedule SAP Central Process Scheduling application by Redwood (SAP CPS) tasks
to process tasks on other systems.
Remote Job, – Transaction, – Program, – Flow Definition: You can create these activities are run in remote
systems.
External Job: Create tasks that you use to monitor the jobs that are created or scheduled in a remote or the
local system using external schedulers. Note that tasks with this task type only retrieve information from
systems. You cannot use them to perform any closing operations.
2. Which of the following is NOT a reason for performing Intercompany Reconciliation (ICR)?
A. ICR ensures that the Intercompany documents from all accounting transactions within the
corporate group correspond to one another.
B. ICR contains the tools to check that the documents have been correctly assigned to a business
transaction.
C. ICR enables you to find corresponding documents easily and make additional assignments.
D. ICR enables you to compute imputed tax.
Explanation: Closing Process with Intercompany Reconciliation:
ICR supports reconciliation of the open items in the general ledger (G/L) and in the subledgers (normally
AR and AP). It enables analysis early in the closing process and allows you to avoid differences. In addition,
you can execute postings on accounts that have no open item management, such as expense and revenue.
For this purpose, the relevant postings are collected and analyzed in a central system.
Reasons for Performing ICR: The following are reasons for performing ICR:
ICR ensures that the Intercompany documents from all accounting transactions within the corporate group
correspond to one another.
ICR contains the tools to check that the documents have been correctly assigned to a business transaction.
ICR enables you to find corresponding documents easily and make additional assignments.
3. Which of the following is NOT the main step of Intercompany Reconciliation (ICR)?
A. Document selection and data storage
B. Automatic assignment of documents
C. Manual reconciliation and communication
D. Automatic assignment of networking limits

Explanation: Main ICR Steps:

Document selection and data storage.
Automatic assignment of documents.
Manual reconciliation and communication.
Detailed ICR Steps:
The detailed steps of ICR are as follows:
Initially data is selected from the sender system and then stored centrally in the reconciliation system.
Data records that fit together are automatically assigned using customized criteria and the data records with
variances remain for analysis.
The people responsible at the group companies check the variances interactively, assign the documents
manually, and communicate variances to the accountants involved with the help of the integrated
communication support. The corrections (as well as the new documents) are posted so that they can be
included in the next data selection.
4. Which of the following business processes are supported by the Intercompany reconciliation? 3 correct
answers
A. Process 001 G/L open items
B. Process 002 accounts
C. Process 003 customer or vendor open items
D. Process 004 materials
E. Process 005 block indicator setup
Explanation: Business Processes Supported by the Intercompany Reconciliation:
Process 001 G/L open items: This process is intended for the reconciliation of open items. You should
choose this process if most of your Intercompany receivables and payables are posted to G/L accounts.
Process 002 accounts: This process is intended for the reconciliation of documents posted to accounts that
do not have open item management. This process is mostly used for the reconciliation of profit and loss
accounts.
Process 003 customer or vendor open items: This process is intended for the reconciliation of AR and AP
open items. You should choose this process if most of your Intercompany receivables and payables are
posted to customer and vendor accounts.
5. In SAP S/4HANA, as an alternative to financial statements, you can use RFBILA00 to create a
structured list of account balances. The RFBILA00 structured list has ALL of the following restrictions
EXCEPT?
A. Profit is neither calculated nor displayed
B. Loss is neither calculated nor displayed
C. Accounts that are not assigned to a financial statement item are not displayed
D. The non-assigned accounts item appears in the report
Explanation: Financial Statement: RFBILA00
In SAP S/4HANA, the standard financial statement reports can be used from SAP ERP, for example,
RFBILA00.
As an alternative to financial statements, you can use RFBILA00 to create a structured list of account
balances.
The RFBILA00 structured list has the following restrictions:

 Profit or loss is neither calculated nor displayed.

 Accounts that are not assigned to a financial statement item are not displayed.
 The non-assigned accounts item does not appear in the report.
 The standard system is delivered with sample financial statement versions. You can copy these
versions and modify them to create your own versions.

6. The physical inventory procedure determines the quantity of stocks to be displayed on the balance
sheet. SAP S/4HANA application supports which of the following methods? 3 correct answers
A. Continuous inventory method
B. Periodic inventory method
C. Cycle counting method
D. Custom inventory method
E. Adhoc counting method
Explanation: Physical Inventory Procedure:
The physical inventory procedure determines the quantity of stocks to be displayed on the balance sheet.
The SAP S/4HANA application supports the following methods:
Continuous inventory method: Stocks are counted throughout the entire fiscal year. Every material has
to be physically counted at least once during the year.
Periodic inventory method: All stocks are physically counted on the balance sheet key date. Every
material has to be counted on this date. During the count, the entire warehouse is blocked from any
material movements.
Cycle counting method: The material stocks are counted at regular intervals during the fiscal year. The
interval or cycle in which a material is counted depends on the cycle counting indicator set for the material.
The actual quantity counted during a physical inventory is entered in the material master record as the
material’s new quantity. The difference between the quantity counted and the quantity recorded in the
system is posted in materials management.
7. In SAP S/4HANA all reconciliation steps for process 003 (= customer or vendor open items) can be
performed by executing which of the following dialog transaction?

A. FBICR1
B. FBICR2
C. FBICR3
D. FBICR4
Explanation:
In SAP S/4HANA all reconciliation steps for process 003 (= customer or vendor open items) can be
performed by executing the dialog transaction FBICR3 (Manual reconciliation). It is no longer necessary
to execute the pre-steps for selection of open items (transaction FBICS3) and the automatic reconciliation
(transaction FBICA3).
Prerequisite:
Items are posted in the same system (no RFC destination is defined for the company).
Data Source: AR/AP open items.
In order to use this functionality, you need to go to customizing transaction FBIC032 and change the
Transfer Type for the respective entries to Read from Primary Database.
8. The chart of accounts segment of a G/L account contains which of the following information?
Note: There are 2 correct answers to this question.
A. Account number
B. Block indicator
C. Control fields
D. Cost Center
Explanation:
The chart of accounts contains basic information about accounts. This information is summarized in a
chart of accounts segment.
The chart of accounts segment of a G/L account contains the following information:

 Account number:
 Name of the account (as short and as long text)
 Control fields
 Consolidation fields
You can translate the chart of accounts into other languages. The translation allows you to display the
account name in the appropriate logon language when displaying master data and posting it. If you do not
translate the chart of accounts in the logon language, the account name appears in the chart of accounts
maintenance language. Text with different information can be assigned to each chart of accounts segment.
9. In which of the following type of account, the balance is carried forward to the same account?
A. Balance sheet
B. P&L statement
C. Cash flow statement
D. Imputation statement
Users can define the retained earnings account in Customizing. You can then assign this account to
expense accounts during the creation of the master record of the general ledger account.
10. The field status enables you to control the display and maintenance of the master data of an account.
You can set which of the following as the status of a field? Note: There are 2 correct answers
A. Hide
B. Display
C. Secured
D. Locked
The field status enables you to control the display and maintenance of the master data of an account.
Fields are grouped by SAP S/4HANA. You can set a common field status for all fields of a group. For
example, you can set a status for the interest calculation indicator, interest cycle, and last interest calculation
key date fields.
The Account currency and Field status group fields are always the required entry fields. The status for
these fields cannot be changed.
11. When the Open Item Management indicator is set in the master record for a general ledger account,
the items posted to this account can be in which of the following states? Note: There are 2 correct answers
A. Open
B. Cleared
C. Blocked
D. Closed
12. As a standard, when you create a G/L account, SAP S/4HANA takes which of the following as the
default account currency?
a. Local currency
b. Foreign currency
c. Global currency
d. Custom currency
When you define a company code, you also need to define the company code currency. You can select one
of the following currencies as account currency: Local currency or Foreign currency
As a standard, when you create a G/L account, SAP S/4HANA takes the local currency as the default
account currency. If you select the local currency, you can post to this G/L account in any currency. Other
currencies are converted into the local currency for each line item. Posting of items in different currencies
is possible irrespective of whether line item display is activated or not.
13. Which of the following statements is NOT true regarding Balances in Local Currency?
a. If the master data record has the Only Balances in Local Currency indicator selected, then
the transaction figures are managed only for amounts that have been converted into the
local currency.
b. Set the Only Balances in Local Currency indicator in the cash discount account and the
GR/IR clearing account.
c. You must avoid setting Only Balances in Local Currency indicator in reconciliation
accounts for customers or vendors.
d. Only Balances in Local Currency indicator is usually set in balance sheet accounts
that are managed in foreign currencies or on an open item basis.
If the master data record has the Only Balances in Local Currency indicator selected, then the transaction
figures are managed only for amounts that have been converted into the local currency.
Select this field for clearing accounts when you want to clear accounts by assigning items with the same
local currency amount with one another, without the need for postings for exchange rate differences.
Set the Only Balances in Local Currency indicator in the cash discount account and the GR/IR clearing
account. Avoid setting this indicator in reconciliation accounts for customers or vendors. This indicator is
usually set in balance sheet accounts that are not managed in foreign currencies or on an open item basis.
14. To change G/L account master data in collective processing, you cannot use which of the following
options?
a. Change chart of accounts data
b. Change company code data
c. Change account descriptions
d. Change cost center data
SAP S/4HANA provides collective processing functions for the G/L account master records. You can
make changes to the master data of several G/L accounts simultaneously. To change G/L account master
data in collective processing, you can use the following options:

 Change chart of accounts data

 Change company code data
 Change account descriptions
The general ledger accounts can belong to different charts of accounts.
15. Which of the following principles apply to segments? There are 2 correct answers to this question.
a. The use of segments is only officially approved by SAP if they are used
simultaneously with profit centers
b. Segments can only be derived automatically using profit centers
c. In many business cases, particularly in logistics, you can enter segments manually
d. Various standard interfaces support segments

The Segment characteristic is derived from the characteristic Profit Center, which exists in various SAP
objects.
The use of segments is only officially approved by SAP if they are used simultaneously with profit
centers
Segments can only be derived automatically using profit centers
In many business cases, particularly in logistics, you cannot enter segments manually
Various standard interfaces do not support segments
If you cannot derive the characteristic Segment from the master record of a profit center, you need to look
for other ways of assigning a segment.