BPI Quiz 1 Questions with All Correct Answers
Define Field Status Variants - Answer You will copy and rename a Field Status Variant and its related Field Status Groups from Company Code US00. In a later step, you will associate this Field Status Variant (GL##) with your Company Code.
Your ...
BPI Quiz 1 Questions with
All Correct Answers
Define Field Status Variants - Answer ✔ You will copy and rename a Field Status
Variant and its related Field Status Groups from Company Code US00. In a later step,
you will associate this Field Status Variant (GL##) with your Company Code.
Your Field Status Groups (Expense Account, Balance Sheet Account, etc.) guide the
user experience during General Ledger document entry. (ex) the Field Status Group
determines which fields are required, which fields are optional, and which fields are
hidden during General Ledger document entry.
Explain Entering Global Parameters - Answer ✔ You will enter global parameters for
your Company Code's financial accounting processes. This is an important step that:
• associates many of the entities created in previous steps (Chart of Accounts, Credit
Control Area, Field Status Variant, Open Posting Period Variant) to your Company
Code.
• defines Company Code-wide parameters for ease of use and control (for example:
default date = today's date and maximum exchange rate deviation = 10%).
Assign Company Code to Controlling Area - Answer ✔ You will associate your
Company Code to your previously created Controlling Area (NA##).
As noted before, larger firms can roll up many Company Codes into one Controlling
Area. This allows management to have one view of Cost Accounting data across
multiple legal entities.
-In this situation, each Company Code within a given Controlling area can use a
different base currency, although they must have the same chart of accounts.
Assign Controlling Area to Op. Concern - Answer ✔ You will associate your Controlling
Area to an already existing Operating Concern. An Operating Concern is a
Management Accounting entity that rolls up all profitability data from your Company
Code and Controlling Area(s).
Larger firms can roll up many SAP Controlling Areas into one Operating Concern. This
allows management to have one view of profitability across multiple legal entities.
In keeping with the naming conventions used in this exercise, the operating concern
should be GL##. However, due to the limitations of the teaching environment, all
Controlling Areas will be assigned to the same Operating Concern (GL00).
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