After completing this unit, you will be able to:

• Explain chart of accounts, general ledger, company code, controlling area, and their relationship
• Explain chart of accounts level and company code level of a G/L account
• Explain G/L account settings on chart of accounts level, company code level, and controlling area level
• Summarize reporting options to display changes made to G/L accounts
• Outline G/L account maintenance with individual and collective processing
• Explain other organizational elements in financial accounting

After completing this unit, you will be able to:

• Explain the basic concept of postings and documents in SAP
• Explain the structure of a document in the system
• Identify some of the most relevant control elements of the record-to-report postings
• Explain the retrieval of an existing document in the most efficient way.

After completing this unit, you will be able to:

• Describe parallel accounting functionality using multiple ledgers
• Compose a ledger-specific posting
• Create a ledger-specific financial statement
• Describe the purpose of segment reporting to satisfy GAAP and IFRS requirements
• Demonstrate the concept of document splitting and how it relates to segment reporting
• Compare the options available for splitting scenarios
• Analyze the enhanced data by using the document splitting expert mode in posting simulations and post documents
• Analyze the entry and ledger views of posted documents
• Describe the purpose of cost of sales accounting.
• Post a document including functional area
• Outline a profit and loss report using cost of sales accounting.

After completing this unit, you will be able to:

• Describe the important steps in the month-end and year-end close
• Manage posting period variants to control the opening and closing of posting periods
• Explain the concept of accruals and deferrals
• Explain how automatic clearing is used in the general ledger
• Outline the G/L balances foreign currency revaluation process
• Identify when to use the balance carryforward program
• Apply manual adjustments
• Execute a financial statement using global hierarchies