C_S4FCC_2021 Practice Exam Questions and Answers

Item groups identify quantity variances, timing variances and price differences in SAP Intercompany Matching and Reconciliation posting rules1.

The possible sources for SAP S/4HANA Finance for group reporting are an extension ledger, the leading ledger, and a special purpose ledger. These ledgers store the financial data required for group reporting purposes.

FS items can be determined for balance carry forward using a configuration table, their FS item type, and their role attribute. These factors help to classify FS items for different purposes in the consolidation process (SAP Help Portal: Define Financial Statement Items).

The prerequisites for a horizontal merger include both consolidation units belonging to different consolidation groups and both consolidation units belonging to the same consolidation group1.

In SAP S/4HANA Finance for Group Reporting, global accounting hierarchies can use the following master data objects: Consolidation group, Profit center, and Consolidation unit. Consolidation groups are used to define the structure of a group and its subsidiaries. Profit centers help track profit and loss for different business segments. Consolidation units represent legal entities and are assigned to consolidation groups (SAP Help Portal: Group Reporting Master Data).

From the data monitor, you can run tasks such as Translate currency to convert financial data into the group currency and Eliminate intercompany to remove intercompany transactions during the consolidation process.

According to the document, some of the tasks that can be run from the Data Monitor are1:

• Translate currency: This task translates the reported data of consolidation units into group currency using the exchange rates maintained in the system.
• Eliminate intercompany: This task eliminates the intercompany transactions and balances between consolidation units using the reclassification methods defined in the system.