11. What is a Company Code and what are the basic organizational assignments to a company code?
Company Code is a legal entity for which financial statements like Profit and Loss and Balance Sheets are generated. Plants are assigned to the
company code, Purchasing organization is assigned to the company code, and Sales organization is assigned to the company code.
12. What is the relation between a Controlling Area and a Company code?
A Controlling area can have the following 2 type of relationship with a Company code
a. Single Company code relation
b. Cross Company code relation
This means that one single controlling area can be assigned to several different company codes. Controlling can have a one is to one
relationship or a one is to many relationship with different company codes.
Controlling Area is the umbrella under which all controlling activities of Cost Center Accounting, Product Costing, Profit Center and Profitability
Analysis are stored.
In a similar way Company Codes is the umbrella for Finance activities.
13. How many Chart of Accounts can a Company code have?
A single Company code can have only one Chart of Account assigned to it. The Chart of Accounts is nothing but the list of General Ledger Accounts.
14. What are the options in SAP when it comes to Fiscal years?
Fiscal year is nothing but the way financial data is stored in the system.
SAP provides you with the combination of 12 normal periods and also four special periods. These periods are stored in what is called the fiscal
year variant.
There are two types of Fiscal Year Variant
•?Calendar Year – e.g. Jan-Dec
•?Year Dependent Fiscal Year .
15. What is a year dependent fiscal year variant ?
In a year dependent fiscal year variant the number of days in a month are not as per the calendar month. Let us take an example:- For the year
2005 the period January ends on 29th, Feb ends on 27th, March ends on 29. For the year 2006 January ends on 30th, Feb ends on 26th, March
ends on 30th. This is applicable to many countries especially USA. Ever year this fiscal year variant needs to be configured in such a case
16. How does posting happen in MM (Materials Management) during special periods?
There is no posting which happens from MM in special periods. Special periods are only applicable for the FI module. They are required for making any additional posting such as closing entries, provisions. which happen during quarter end or year end.
17. How many currencies can be configured for a company code?
A company code can have 3 currencies in total. They are local currency ie company code currency) and 2 parallel currencies. This gives the company the flexibility to report in the different currencies.
18. Do you require to configure additional ledger for parallel currencies?
Where only 2 currencies are configured (Company code currency and a parallel currency) there is no need for an additional ledger. In case the
third parallel currency is also configured and if it is different than the second currency type, you would then need to configure additional ledger.
19. If there are two company codes with different chart of accounts how can you consolidate their activities?
In this case you either need to write an ABAP program or you need to implement the Special Consolidation Module of SAP. If both the company codes use the same chart of accounts then standard SAP reports give you the consolidated figure.
20. Give some examples of GL accounts that should be posted automatically through the system and how is this defined in the system.
Stock and Consumption accounts are instances of GL accounts that should be automatically posted . In the GL account master record, a check box exists wherein the automatic posting option is selected called “ Post Automatically Only”
Company Code is a legal entity for which financial statements like Profit and Loss and Balance Sheets are generated. Plants are assigned to the
company code, Purchasing organization is assigned to the company code, and Sales organization is assigned to the company code.
12. What is the relation between a Controlling Area and a Company code?
A Controlling area can have the following 2 type of relationship with a Company code
a. Single Company code relation
b. Cross Company code relation
This means that one single controlling area can be assigned to several different company codes. Controlling can have a one is to one
relationship or a one is to many relationship with different company codes.
Controlling Area is the umbrella under which all controlling activities of Cost Center Accounting, Product Costing, Profit Center and Profitability
Analysis are stored.
In a similar way Company Codes is the umbrella for Finance activities.
13. How many Chart of Accounts can a Company code have?
A single Company code can have only one Chart of Account assigned to it. The Chart of Accounts is nothing but the list of General Ledger Accounts.
14. What are the options in SAP when it comes to Fiscal years?
Fiscal year is nothing but the way financial data is stored in the system.
SAP provides you with the combination of 12 normal periods and also four special periods. These periods are stored in what is called the fiscal
year variant.
There are two types of Fiscal Year Variant
•?Calendar Year – e.g. Jan-Dec
•?Year Dependent Fiscal Year .
15. What is a year dependent fiscal year variant ?
In a year dependent fiscal year variant the number of days in a month are not as per the calendar month. Let us take an example:- For the year
2005 the period January ends on 29th, Feb ends on 27th, March ends on 29. For the year 2006 January ends on 30th, Feb ends on 26th, March
ends on 30th. This is applicable to many countries especially USA. Ever year this fiscal year variant needs to be configured in such a case
16. How does posting happen in MM (Materials Management) during special periods?
There is no posting which happens from MM in special periods. Special periods are only applicable for the FI module. They are required for making any additional posting such as closing entries, provisions. which happen during quarter end or year end.
17. How many currencies can be configured for a company code?
A company code can have 3 currencies in total. They are local currency ie company code currency) and 2 parallel currencies. This gives the company the flexibility to report in the different currencies.
18. Do you require to configure additional ledger for parallel currencies?
Where only 2 currencies are configured (Company code currency and a parallel currency) there is no need for an additional ledger. In case the
third parallel currency is also configured and if it is different than the second currency type, you would then need to configure additional ledger.
19. If there are two company codes with different chart of accounts how can you consolidate their activities?
In this case you either need to write an ABAP program or you need to implement the Special Consolidation Module of SAP. If both the company codes use the same chart of accounts then standard SAP reports give you the consolidated figure.
20. Give some examples of GL accounts that should be posted automatically through the system and how is this defined in the system.
Stock and Consumption accounts are instances of GL accounts that should be automatically posted . In the GL account master record, a check box exists wherein the automatic posting option is selected called “ Post Automatically Only”
No comments:
Post a Comment