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C_TS4FI_2023 Latest Real Test, Reliable C_TS4FI_2023 Test Pattern

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SAP C_TS4FI_2023 Exam Syllabus Topics:

Topic
Details

Topic 1

Financial Closing: This topic covers performing month and year-end closing tasks in Financial Accounting. It involves monitoring closing operations using the Financial Closing Cockpit, managing accruals, and handling posting periods.

Topic 2

Accounts Payable & Accounts Receivable: It covers reversing invoices and payments, blocking open invoices for payment, configuring the payment program, defining payment medium workbench settings, and handling debit balance checks.

Topic 3

General Ledger Accounting: Under this topic, the focus is on creating and maintaining general ledger accounts, bank master data, and house banks.

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SAP Certified Associate - SAP S/4HANA Cloud Private Edition, Financial Accounting Sample Questions (Q11-Q16):

NEW QUESTION # 11
You are entering a credit memo in Financial Accounting and are wondering why the entered payment terms are being ignored.
What are the reasons? Note: There are 2 correct answers to this question.

A. The field "Reference" of the credit memo is blank.
B. The due date determined based on the entered payment terms is in the past.
C. The credit memo was created without reference to an invoice.
D. The credit memo was entered in Financial Accounting.

Answer: B,D

Explanation:
In SAP S/4HANA, when entering a credit memo in Financial Accounting (FI), you may notice that the system ignores the payment terms specified during document entry. This behavior can occur due to specific reasons related to how the system processes credit memos and calculates due dates. Let's analyze each option to determine the correct answers.
Explanation of Each Option:
A. The credit memo was entered in Financial Accounting.
* Correct : When a credit memo is entered directly in Financial Accounting (e.g., using transaction FB01 or FB70), the system does not automatically apply the payment terms. Payment terms are typically used in Accounts Receivable (AR) or Accounts Payable (AP) processes, where they influence due dates and cash discount calculations. In FI, payment terms are often ignored because the focus is on posting the financial impact rather than managing payment schedules.
* Reference : According to SAP documentation, payment terms are primarily relevant in AR/AP modules and may not be applied when documents are posted directly in FI.
D. The due date determined based on the entered payment terms is in the past.
* Correct : If the due date calculated using the entered payment terms falls in the past, the system will ignore the payment terms. This is because SAP assumes that a due date in the past is invalid for processing purposes. Instead, the system uses the current date or another default value as the due date.
* Reference : SAP documentation confirms that payment terms are ignored if the resulting due date is earlier than the posting date, ensuring logical consistency in financial postings.
B. The credit memo was created without reference to an invoice.
* Incorrect : Whether or not the credit memo references an invoice does not directly affect the application of payment terms. Payment terms are determined based on the configuration and settings of the credit memo itself, not its relationship to an invoice. While referencing an invoice may influence other aspects of the credit memo, it does not explain why payment terms are ignored.
* Reference : The absence of an invoice reference impacts reconciliation but does not inherently prevent the use of payment terms.
C. The field "Reference" of the credit memo is blank.
* Incorrect : The "Reference" field in a credit memo is used for informational purposes, such as linking the document to external references or internal identifiers. Leaving this field blank does not affect the application of payment terms. The system determines payment terms based on configuration and document settings, not the content of the "Reference" field.
* Reference : The "Reference" field is optional and does not influence payment term processing.
Key References to SAP Documentation:
* SAP S/4HANA Finance for Accounts Receivable and Payable : Explains how payment terms are applied in AR/AP processes and why they may be ignored in FI.
* SAP Help Portal - Payment Terms Configuration : Provides detailed guidance on how payment terms are calculated and why they may be disregarded in certain scenarios.
* Credit Memo Processing in Financial Accounting : Highlights the differences between credit memo processing in FI versus AR/AP.
* Due Date Calculation in SAP S/4HANA : Describes how due dates are determined and the conditions under which payment terms are ignored.

NEW QUESTION # 12
Which currency types are defaulted in SAP S/4HANA? (Select 2)

A. 30 = Group currency
B. 00 = Document currency
C. 10 = Company code currency
D. 20 = Controlling area currency

Answer: B,C

NEW QUESTION # 13
At which level do you define functional areas?

A. Client
B. Financial statement version
C. Controlling area
D. Company code

Answer: C

Explanation:
Comprehensive Detailed Explanation with all SAP S/4HANA Cloud References Functional areas in SAP S/4HANA are organizational units used to classify expenses and revenues for external reporting purposes, particularly in Profit and Loss (P&L) reporting. They allow organizations to categorize costs and revenues by function (e.g., production, administration, sales) rather than by organizational structure. Functional areas are primarily used in conjunction with the Profit and Loss statement and are a key component of financial reporting under standards like IFRS.
Explanation of Each Option:
A. Controlling area
* Correct : Functional areas are defined at the controlling area level in SAP S/4HANA. This is because functional areas are closely tied to Cost of Sales Accounting (CO-PA) and management accounting processes, which are managed within the controlling area.
* Functional areas are assigned to cost centers, internal orders, and other cost objects within the controlling area. When postings are made to these cost objects, the functional area is automatically updated in the Universal Journal (ACDOCA).
* Reference : According to SAP documentation, functional areas are configured in the controlling area and are used to classify expenses and revenues for external reporting.
B. Client
* Incorrect : Functional areas are not defined at the client level. The client is the highest organizational unit in SAP systems and represents an independent business entity. While functional areas can be used across multiple company codes within a client, they are not defined at this high level.
* Reference : Client-level configurations typically involve system-wide settings, such as user roles or number ranges, but not specific financial reporting structures like functional areas.
C. Financial statement version
* Incorrect : Financial statement versions (FSVs) are used to define how financial statements are structured and displayed. While functional areas can influence the data shown in financial statements, they are not defined within the FSV itself.
* Reference : FSVs are part of the General Ledger (FI-GL) configuration and determine the layout of balance sheets and P&L statements, but they do not control the creation or assignment of functional areas.
D. Company code
* Incorrect : Functional areas are not defined at the company code level. While company codes represent individual legal entities and manage financial accounting data, functional areas are part of the controlling area and are used for cross-company code reporting.
* Reference : Company code-specific configurations include chart of accounts, fiscal year variants, and posting periods, but functional areas are managed separately within the controlling area.
Key References to SAP S/4HANA Documentation:
* SAP S/4HANA Finance for Group Reporting : Explains how functional areas are used for external reporting and their relationship with the controlling area.
* SAP Help Portal - Functional Areas : Provides detailed guidance on configuring and using functional areas in SAP S/4HANA.
* Cost of Sales Accounting (CO-PA) : Describes how functional areas are integrated into profitability analysis and financial reporting.
* Universal Journal (ACDOCA) : Highlights that functional areas are stored in the ACDOCA table and are updated during postings to cost objects.

NEW QUESTION # 14
You are posting a general journal entry for your company code. After posting the entry, you notice the document number is in the wrong number.
After reversing the document, what do you need to change when reposting the document?

A. Assignment
B. Posting key
C. Document number
D. Document type

Answer: D

NEW QUESTION # 15
What is the role of the valuation method in the foreign currency valuation? Note: There are 3 correct answers to this question.

A. Define the valuation procedure
B. Determine the exchange rate type
C. Define the document type for the valuation posting
D. Define the posting and reversal date for the valuation posting
E. Determine the G/L accounts for the valuation posting

Answer: A,B,E

Explanation:
In SAP S/4HANA, foreign currency valuation is a process used to revalue open items and balance sheet accounts in foreign currencies at the end of a period. The valuation method plays a critical role in this process by defining how the valuation is performed. Let's analyze each option to determine the correct answers.
Explanation of Each Option:
B. Define the valuation procedure
* Correct : The valuation method determines the valuation procedure , which specifies how accounts are revalued (e.g., open items, balance sheet accounts). The valuation procedure ensures that the correct accounts and items are included in the valuation process.
* Reference : According to SAP documentation, the valuation method is linked to the valuation procedure, which governs the rules for revaluing accounts and open items.
C. Determine the exchange rate type
* Correct : The valuation method specifies the exchange rate type to be used for revaluation. For example, it may use the month-end rate or another predefined rate type. This ensures consistency and compliance with accounting standards during the valuation process.
* Reference : SAP documentation confirms that the valuation method defines the exchange rate type to ensure accurate revaluation of foreign currency balances.
D. Determine the G/L accounts for the valuation posting
* Correct : The valuation method determines the G/L accounts used for valuation postings, such as the unrealized gains/losses accounts. These accounts are updated during the valuation process to reflect the impact of currency fluctuations.
* Reference : SAP allows the valuation method to specify the G/L accounts for unrealized gains and losses, ensuring proper accounting treatment.
A. Define the document type for the valuation posting
* Incorrect : The document type for the valuation posting is defined at the configuration level for foreign currency valuation, not within the valuation method itself. While the document type is important for posting, it is not controlled by the valuation method.
* Reference : Document types are configured separately and are independent of the valuation method.
E. Define the posting and reversal date for the valuation posting
* Incorrect : The posting and reversal dates for the valuation posting are determined during the execution of the valuation run, not by the valuation method. These dates are typically based on the key date specified in the valuation process.
* Reference : Posting and reversal dates are runtime parameters and are not part of the valuation method configuration.
Key References to SAP S/4HANA Documentation:
* SAP S/4HANA Finance for Foreign Currency Valuation : Explains the role of the valuation method in defining the valuation procedure, exchange rate type, and G/L accounts.
* SAP Help Portal - Foreign Currency Valuation : Provides detailed guidance on configuring valuation methods and their impact on the valuation process.
* Valuation Procedure Configuration : Highlights how the valuation method determines the rules for revaluing accounts and open items.
* Exchange Rate Types in SAP S/4HANA : Describes how exchange rate types are used in foreign currency valuation and their assignment in the valuation method.

NEW QUESTION # 16
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