C_S4FCC_2021 SAP Certified Application Associate - SAP S/4HANA Finance for Group Reporting Associates (SAP S/4HANA 2021) Questions and Answers

According to the SAP S/4HANA Finance for Group Reporting Associates documents1, the symbol that is used to select a blank hierarchy is #. A blank hierarchy is a hierarchy that does not have any nodes or levels. A blank hierarchy can be used to select all the values of a dimension without any filtering or grouping.

According to the SAP S/4HANA Finance for Group Reporting Associates documents1, method sequences that are needed to eliminate intercompany profit in inventory are:

• Eliminate net income for the seller: This method sequence eliminates the net income of the seller unit that is derived from intercompany sales of inventory. This method sequence reduces the seller’s net income and equity by the amount of intercompany profit in inventory.
• Reverse the elimination of net income of the seller: This method sequence reverses the elimination of net income of the seller unit that was done in the previous method sequence. This method sequence restores the seller’s net income and equity to their original values before elimination.

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).

Balance carry forward in group reporting carries forward reporting FS (Financial Statement) items to the same FS item as in the previous year by default unless otherwise specified. This ensures that the opening balances for the new fiscal year are correctly set based on the closing balances of the previous fiscal year.

In a reporting rule, a report item can be assigned to subitems and FS (Financial Statement) items. Subitems are used to provide more detailed information or breakdowns of the FS items, while FS items represent the main line items in the financial statements.

To run a management consolidation report, you must select a consolidation group. The consolidation group represents a set of entities whose financial data will be aggregated and reported in the management consolidation report.

A reconciliation case in SAP Intercompany Matching and Reconciliation is used to select matching methods. Matching methods define the criteria for matching intercompany transactions, ensuring that the transactions are accurately reconciled and eliminating discrepancies between the financial statements of different entities within a group.

According to the SAP S/4HANA Finance for Group Reporting Associates documents1, fiscal year variants can be assigned to:

• Consolidation ledgers: A consolidation ledger is a data container that stores the consolidated data for a specific consolidation scenario and fiscal year variant. A consolidation ledger can have multiple versions to store different versions of consolidated data.
• Versions: A version is a data container that stores a specific version of consolidated data within a consolidation ledger. A version can have different settings than the consolidation ledger, such as fiscal year variant, currency translation indicator, etc.

Posting levels are used to identify the origin of values in the consolidation process. They help to differentiate between values coming from different sources, such as data entry, data import, or manual postings.