Question 1:

Which factors determine the fiscal year variant you would assign to a company code?

A. The need to control which periods are open for posting for specific user groups
B. The use of a specific fiscal year variant by other company codes on the client
C. The need to control which periods are open for posting for the company code
D. The fiscal year start and end period of the company

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Question 2::

The period in which the transaction is entered into your books is controlled by:

A. Document date and Posting period
B. Posting date and Posting period
C. Value date and Document type

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Question 3:

What are the different account types in Posting periods?

A. Customer, Vendor, Posting period
B. GL, Cost center, Material
C. Customer, Vendor, GL, Asset, Material
D. GL, Cost center, Material, Asset

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Question 4:

Posting Period variant can be assigned to more than one company code.

A. True
B. False

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Answers

1) D

A fiscal year variant in SAP defines the financial accounting year for an organization, specifying the number of posting periods (typically 12 regular periods plus up to 4 special periods for adjustments) and their corresponding start and end dates. This configuration ensures that financial transactions are recorded in the correct periods, aligning with the organization's financial reporting requirements.

Types of Fiscal Year Variants:

Calendar Year Fiscal Year (January to December):

• The fiscal year aligns with the calendar year.
• Each month corresponds directly to a posting period.
• SAP standard fiscal year variants like K1 or K2 represent this structure.

• The fiscal year starts and ends on dates different from the calendar year.
• For example, a fiscal year might run from April 1 to March 31.
• In such cases, periods are defined with specific start and end dates, and a year shift indicator is used to align periods that span two calendar years.

• This variant applies to a specific calendar year and may vary in structure from year to year.
• It's useful for organizations that require flexibility in defining fiscal periods annually.

• A fiscal year that has fewer than the standard 12 periods, often due to organizational changes like mergers or changes in accounting practices.
• Requires special configuration to handle the reduced number of periods.

1. Access the Configuration Path:
Navigate to: SPRO > Financial Accounting > Financial Accounting Global Settings > Fiscal Year > Maintain Fiscal Year Variant.
2. Define the Variant:
Create a new fiscal year variant by specifying its description and determining whether it aligns with the calendar year.
For non-calendar fiscal years, define each posting period's start and end dates, and set the year shift indicator as needed.
3. Assign to Company Code:
After defining the fiscal year variant, assign it to the relevant company code(s) to ensure that financial transactions are recorded according to the specified periods.

3) C

4) A

Posting Period Configuration: The transaction code OB52 is used to configure posting periods. This allows you to determine which periods can be used to post for each account type or all account types simultaneously.

Different Configuration Types:

Standard Generic Configuration: Applied to all account types using the '+' symbol.

Customers Configuration: Applied to customer reconciliation accounts using the 'D' symbol.

Vendors Configuration: Applied to vendor reconciliation accounts using the 'K' symbol.

G/L Accounts Configuration: Applied to G/L accounts using the 'S' symbol.

To test your configurations, you can try posting a document in an appropriate transaction (e.g., FB01 for G/L account posting, FB60 for vendor posting, FB70 for customer posting).

Read Also
SAP FI Month End and Year End Activities

SAP FICO Reference Books:
SAP Financial and Controlling Interview Questions, Certification and Configuration, Books

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