Free Practice Questions for SAP C_S4FCC_2021 Exam

After running a reclassification with posting level 10, you should run the validation tasks for consolidated data and reported 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.

The recommended way to summarize the cash accounts into SAP S/4HANA Finance for group reporting is to map all 10 cash G/L accounts to one Financial Statement (FS) item. This allows the system to aggregate the balances of these accounts into a single FS item, simplifying the reporting process.

According to the SAP S/4HANA Finance for Group Reporting Associates documents1, the translation setting in the sequence that would allow you to preserve an existing group currency amount is reference rate. Reference rate is a field that defines the exchange rate that is used to translate local currency amounts into group currency amounts. If you want to preserve an existing group currency amount, you can set the reference rate to 1, which means no translation will take place.

https://help.sap.com/docs/SAP_S4HANA_ON-PREMISE/4ebf1502064b406c964b0911adfb3f01/c27c73226dac4e07ac8aa59a45f92fd8.html

In the elimination of intercompany profit in inventory method, Partner inclusion is required to specify which partners are involved in the transaction. Selection of percentages is needed to determine the proportion of intercompany profit to be eliminated.

In a group journal entry substitution rule, the precondition can be left blank. A precondition is used to define the specific circumstances under which a substitution should be applied. If it is left blank, the substitution will be applied to all relevant journal entries without any restriction.

if the balance sheet in SAP S/4HANA Finance for group reporting is out of balance, when data validation is run, the result is that the variance will be posted to a statistical financial statement item. A statistical financial statement item is a special type of FS item that is used to store variances or differences between debit and credit balances. A statistical financial statement item does not affect the balance sheet total or net income.

In an intercompany report, the dimensions "Consolidation unit eliminated" and "Consolidation unit" can be used to provide a consolidation view. The "Consolidation unit eliminated" dimension shows the elimination entries, while the "Consolidation unit" dimension displays the data for each consolidation unit involved in the intercompany transactions.