Certified Application Professional - Financials in SAP S/4HANA for SAP ERP Finance Experts (P_S4FIN_2021) Free Practice Test

Question 1

At which level is the migration run for finance data performed?

A. Controlling area

B. Operating concern

C. Client

D. Company code

Correct Answer: C

Question 2

You post an asset acquisition with a purchase order. How is the asset acquisition value posted?

A. Valuated acquisition is posted at invoice receipt.

B. Non-valuated acquisition is posted at goods receipt-

C. Non-valuated acquisition is posted at invoice receipt.

D. Valuated acquisition is posted at settlement

Correct Answer: C

Question 3

Which transactions generate a prima nota entry in the system in addition to the universal journal entry? Note: There are 2 correct answers to this question

A. Assessment cycle of cost centers (KSU5)

B. Post FI supplier invoice (FB60)

C. Post time sheet data to Controlling (CAT7)

D. Settlement of internal order (K088)

Correct Answer: B,C

Question 4

What do you manage within cash operations of SAP Cash Management? Note: There are 2 correct answers to this question.

A. Daily cash position, deficits, and surpluses

B. Credit limits for customer accounts

C. Hedging and hedging contracts

D. Bank risk analysis and risk mitigation

Correct Answer: A,D

Question 5

You carry forward balances for your company code and leading ledger to the new fiscal year 2022 and you get an error message related to asset accounting. What single action can resolve the error?

A. Run "Calculate Depreciation" (transaction AFAR) forfiscal year 2022.

B. Post revaluation and new valuation (transaction AR29N) forfiscal year 2021.

C. Post all depreciation (transaction AFAB) for the fiscal year 2021

D. Run the fiscal year change (transaction FAA_CMP) to close fiscal year 2020.

Correct Answer: D

Question 6

In Controlling, what is a mandatory customizing step when converting a system to SAP S/4HANA?

A. Migrate the material ledger.

B. Configure accounts for COGS split.

C. Create document type for CO postings.

D. Activate attributed profitability analysis

Correct Answer: D

Question 7

You are performing a system conversion for a customer that uses classic G/L with the accounts approach. What must you configure in SAP S/4HANA for local and international accounting standards in order to migrate the account values in an S/4HANA standard conversion project?Note: There are 3 correct answers to this question.

A. Document types

B. Standard ledgers

C. Accounting principles

D. Ledger groups

E. Valuation areas (FI)

Correct Answer: C,D,E

Question 8

In your system, you are creating a new company code that requires an additional standard ledger.Which statements apply to a standard ledger?Note: There are 2 correct answers to this question.

A. It will generate additional line items in ACDOCA for non-ledger-specific postings.

B. If asset accounting is used, a depreciation area must be assigned.

C. It is always active on the system level for all company codes.

D. It must be assigned to an underlying ledger.

Correct Answer: A,B

Question 9

Which checks can you run directly in an SAP ECC system to support the planning of a standard SAP S/4HANA conversion project? Note: There are 3 correct answers to this question.

A. Authority Check

B. Custom Code Check

C. Global Performance Analysis

D. Simplification Item-Check

E. SAP Readiness Check

Correct Answer: B,D,E

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SAP Certified Application Professional - Financials in SAP S/4HANA for SAP ERP Finance Experts (P_S4FIN_2021) Free Practice Test