Final Review Flashcards
When doing a G/L posting to your bank account, do I need a cost object?
No, only use cost object for expenses
Define Procurement
Obtaining or purchasing goods or services that your business will use in some way.
What is a purchasing group
A purchasing group represents an individual or group of people who perform day-to-day purchasing-related activities.
Typically responsible for a specific material or group of materials.
Does not have the legal authority to enter transactions.
What is business to business (B2B)
Suppliers to a business. Contracts are typically in place.
What is business to consumer (B2C)
A consumer buying from a business.
If a business does not have what I want, I will go somewhere that does.
What is in a purchase requisition
Request to buy
What to buy
Quantity
When is it needed
Can a purchase requisition be generated by other processes.
Yes, can be generated by fulfillment, production, or material planning.
What is a purchase order and is it required?
Authorizes purchases and can be started without a purchase requisition.
A purchase order is required and a purchase requisition is not.
What does a project schedule consist of?
Uses Microsoft project
Allows you to create a dynamic schedule
Consists of Work breakdown structures (Breaking down tasks)
Only the start date is needed.
What are the phases in a project schedule?
Workstream - group of tasks to be completed
Task/activities
Deliverables
What is a risk?
Something that may happen.
What is an issue?
Something that has happened.
What is an accelerator?
Comprised of procedures and tools such as charts and spreadsheets.
What is unit testing?
Lowest level of testing in SAP.
Testing one scenario at a time.
What is scenario testing?
Testing two or more scenarios at a time.
What is integration testing?
Testing end-to-end business processes / across modules.
What are the configuration steps?
Enterprise Structure
Business Rules and parameters
Master Data
Testing
What SAP object provides the integration between FI and CO?
Primary Cost Elements
Where are secondary cost elements located?
Controlling area
Can we have postings from CO to FI?
Yes, with primary cost elements
What is a distribution rule?
A method used to allocate direct and indirect expenses and revenues to one or more cost centers.
What is a settlement rule?
Determines where the costs are to be settled and how.
What constitutes an FI posting?
An exchange of values.
What is considered master data for CO
Cost Elements
Cost Centers
Internal Orders
Activity Types
Statistical Key Figures
What is considered master data for Procure-To-Pay
Material Master
Vendor Master
Pricing Conditions
Purchasing Info Records
What is setup in the Enterprise Structure?
Company Code
Chart Of Accounts
Controlling Area
Standard Hierarchy
What are examples of key business processes?
Product Costing
Overhead management
Profitability accounting
What are assessments?
Primary and Secondary cost elements
Costs are aggregated into a single cost element
