S4F12 - Unit 3 (General Ledger Accounts))

Question 1

What is a chart of accounts?

Answer 1

The chart of accounts is a variant that contains the structure and basic information of a general ledger account.

Question 2

List the 3 steps to create and use a chart of accounts

Answer 2

1. Define the chart of accounts
2. Define the properties of the chart of accounts.
3. Assign chart of accounts to company codes.

Question 3

A chart of accounts is defined with a four-character ID. List the 6 component of a chart of accounts:

Answer 3

1. Chart of accounts key
2. Name of the chart of accounts
3. Maintenance language
   >the language in which account descriptions are maintained
4. length of the G/L account number
   >can range from 1 to 10 digits in length
5. Group chart of accounts
   > used for cross-company code reporting if the company codes use different charts of accounts
   >To enter a group account in the G/L account, you have to enter a group account number in the corresponding field in the G/L account definition (required entry field). The system then checks whether the group account number exists in the group chart of accounts
6. Block indicator
   >An incomplete chart of accounts can be blocked. In the blocked state, no company code can use the chart of accounts

Question 4

A chart of accounts must be assigned to every company code for each accounts are to be
set up.
Determine whether this statement is true or false.

True
False

Answer 4

True

Question 5

The Chart of Accounts Segment consists of several groups of fields. List these fields.

Answer 5

1. Type/Description
   1.1. Controlling in Chart of Accounts
   >Account Groups
   >Account types (P&L Statement A/C, Balance Sheet A/C
   1.2. Description
   >Short text
   >Long text
   1.3Consolidation in Chart of Accounts
   >Group A/C number.
2. Keywords/Translation
   
   2. 1. Keywords in Chart of Accounts
   3. 2. Translation
3. Information
   3.1. Information in Chart of Accounts
   >Created by
   >Created On

Question 6

To use an account from the assigned chart of accounts in your company code, you must create a company code segment for the account.

Determine whether this statement is true or false.

Answer 6

True

Question 7

G/L accounts are classified into the following G/L account types. Match these g/l account types to their definitions/descriptions.

1. Balance Sheet
2. Secondary Costs
3. Primary Costs or Revenue
4. Cash Account (Bank Reconciliation Account)
5. Non-operating expense or Income

A. Income statement account that functions as a cost element for primary costs or revenue.

B. Account that is posted from business transactions.

C. A G/L account that can be assigned to more than one house bank account

D. Income statement account that records expenses or gains from activities that are not
part of the main purpose of the company.

E. Income statement account that functions as a cost element for secondary costs

Answer 7

1. B
   Balance Sheet Account:
   Account that is posted from business transactions
2. E.
   Secondary Costs/Revenue Account:
   An income statement account that functions as a cost element for secondary costs
3. A
   Primary Costs/Revenue Account:
   An income statement account that functions as a cost element for primary costs or revenue.
4. C
   Cash Account:
   A G/L account that can be assigned to more than one house bank account.
5. D
   Non-operating Expense/Income Account:
   Income statement account that records expenses or gains from activities that are not
   part of the main purpose of the company.

Question 8

In a balance sheet account, the balance is carried forward to a retained earnings account and the balance sheet account is set to zero.

Determine whether this statement is true or false.

Answer 8

False.

The balance is carried forward to the same
account.

Question 9

Name the segments that are parts of a G/L account

Answer 9

Chart of accounts segment and the company code segment

Question 10

Which field status has the lowest priority (master records: G/L accounts)?
Choose the correct answer.
A Required entry
B. Suppress/Hide
C. Optional entry
D. Display

Answer 10

C. Optional Entry (lowest priority)

1. Hide (Highest)
2. Display
3. Required
4. Optional

Question 11

All postings to the subledger accounts are automatically posted to the assigned reconciliation accounts

Determine whether this statement is true or false

Answer 11

True.

All postings to the subledger accounts are automatically posted to the assigned reconciliation accounts

Question 12

When you create a G/L account, SAP S/4HANA uses the company code local currency as the default account currency

Determine whether this statement is true or false

Answer 12

True

When you create a G/L account, SAP S/4HANA uses the company code local currency as the default account currency.

Question 13

Which of the following options can you use to change the G/L account master data (including CO) using collective processing?

Choose the correct answers.

A. Change chart of accounts data
B. Change company code data
C. Change controlling data
D. Change client level data
E. Change account descriptions

Answer 13

A. Change chart of accounts data
B. Change company code data
C. Change controlling data
E. Change account descriptions

Question 14

Different accounts of one operational chart of accounts can refer to the same group account.

Determine whether this statement is true or false

Answer 14

True.

In many cases, corporate groups are required to issue consolidated financial statements,
including all companies of the group. Some of the company codes of the group may have to
use special charts of accounts to meet legal requirements. This is especially true for
multinational corporations.

To Use a Special Chart of Accounts for a Consolidated Financial Statement

1. Create a group chart of accounts that contains all of the group accounts.
2. Assign the group chart of accounts to each operational chart of accounts. Once this is
   done, the field Group account number in the chart of account segment of the operational
   charts of accounts becomes a required entry field.
3. Enter the group account number in the chart of accounts segment of the operational
   account. Different accounts of one operational chart of accounts can refer to the same
   group account.
4. Use a financial statement version for the group chart of accounts.

Note:
No inter-company code controlling can be performed because the company codes
use different operational charts of accounts.

Question 15

The country chart of accounts number (alternative account number) is entered in every chart of accounts segment

Determine whether this statement is true or false

Answer 15

False

The account number of the country chart of accounts (an alternative account number) is entered in every operational G/L account company code segment. This account number can only be assigned once.