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.
