Knowledge quiz

It's time to put what you've learned to the test, get 4 right to pass this unit.

Which of the following statements are correct?

There are two correct answers.

Restatements are necessary when there is, for example, a change in accounting principles, group structures, or management organizations.

The extension version never stores delta values, which means that it always stores all data records of the consolidated financial statements.

Reclassifications are used for adjusting the financial data reported by consolidation units to meet the group's accounting requirements (standardizing entries), reclassifying already consolidated data, and inter-unit elimination postings.

Validations like check ifAssets = Liabilities + Owners Equity and check if Annual Net Income = Current Year Retained Earnings are typical validations used in SAP S/4HANA Finance for group reporting. Determine whether this statement is true or false.

Choose the correct answer.

True

False

Which of the following statements is correct?

Choose the correct answer.

SAP S/4HANA Finance for group reporting Data Collection consists of a set of SAP Fiori apps. These apps and the required services are hosted on the SAP API Platform.

The usage of SAP S/4HANA Finance for group reporting is mandatory for SAP S/4HANA Finance for group reporting Data Collection, as all master data and financials figures are stored in SAP S/4HANA.

Using SAP S/4HANA Finance for group reporting Data Collections, you can collect financial data, non-financial data, and comments for a business unit into SAP S/4HANA Finance for group reporting, i.e., the ACDOCA consolidation table.

Posting levels display the origin of your data along the consolidation process. Document types are more detailed than posting levels and are used to identify the type and source of data. Determine whether this statement is true or false.

Choose the correct answer.

True

False

Which of the following statements are correct?

There are two correct answers.

You use the consolidation monitor to run the activities for collecting and preparing the financial data reported by your consolidation units.

The Release Universal Journals task copies the reported financial data from the universal journal to the consolidation journal.

A task must be unblocked before it can be rerun after being blocked. So, if you unblock, for example, the Data Collection task, you will also have to manually unblock the follow up tasks like Calculate Net Income, the Currency Translation tasks, and so on.

Using the Data Collection task, you can upload reported financial data for several periods in one step.