C_S4FCC_2021 SAP Certified Application Associate - SAP S/4HANA Finance for Group Reporting Associates (SAP S/4HANA 2021) Free Practice Exam Questions (2025 Updated)

A live connection is a prerequisite when planning on group reporting data in an SAP Analytics Cloud story because it allows real-time access to data without the need for data replication. This provides users with up-to-date information for their analytics and reporting needs. (Reference: https://help.sap.com/viewer/00f68c2e08b941f0818e6fd3a6fdceed/latest/en-US/6f3b4c5f6f9c4f3d9b393a7f5d5f5e5d.html)

In group reporting, SAP Intercompany Matching and Reconciliation reason codes are used to identify transaction differences in intercompany eliminations. These codes help to track and resolve discrepancies between intercompany transactions.

The dimensions that can be used in a hierarchical elimination include company and profit center1.

The update schedule for SAP Group Reporting Data Collection is once a month. This ensures that the data used for group reporting purposes is up-to-date and accurate.

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

When a workflow request in SAP Intercompany Matching and Reconciliation is approved, the reconciliation status is set to closed, indicating that the reconciliation process is complete.

When using the import group journal entries template, you can override substitution rules by inputting values directly in the Excel file, adapt the template to include your own custom fields, and upload multiple journal entries using a single Excel file. Reference: https://help.sap.com/viewer/0fa84c9d9c634132b7c4abb9ffdd8f06/1909.002/en-US/5a5d5e7b1c5b4f3d8f5e4d7f60e9e4a3.html

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.

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 the purchase method, there can be non-controlling interest values representing the portion of the subsidiary not owned by the parent company. The investment is adjusted to reflect the fair value of the acquired subsidiary's net assets.

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).

According to the SAP S/4HANA Finance for Group Reporting Associates documents1, FS item types that you can use in SAP S/4HANA Finance for group reporting are:

Balance sheet: An FS item type that represents a balance sheet item, such as assets, liabilities or equity. Balance sheet items are carried forward from one period to another and are translated using historical or current rates depending on their balance type.

Profit & Loss: An FS item type that represents an income statement item, such as revenue, expense or net income. Profit & loss items are not carried forward from one period to another and are translated using average or current rates depending on their balance type.

Statistical: An FS item type that represents a statistical item, such as variances or differences between debit and credit balances. Statistical items do not affect the balance sheet total or net income and are not translated.

When there is a balance sheet and income statement posting in a group journal entry, the offsetting entries are created by the selected Financial Statement (FS) items for automatic posting. This feature ensures that the balance sheet and income statement are always in balance (SAP Help Portal: Group Journal Entries).

You configure periodic vs. YTD (Year-to-Date) translation using the currency translation indicator. The currency translation indicator determines the method used for translating amounts in foreign currencies to the group currency, either periodically or cumulatively (YTD). (Reference: https://help.sap.com/viewer/0fa84c9d9c634132a6c3d6f3508c54a3/1809.002/en-US/0b3dbd7c0e264b62a7e2d2a1e7d31fbc.html)

When Company A purchases 80% of Company B for 80 million, the accounting entries generated when consolidation is run for December of 2022 should be: - Debit goodwill 40 million (80 million purchase price - 80% of 50 million equity) - Credit investment 80 million (reflecting the purchase price)

According to the SAP S/4HANA Finance for Group Reporting Associates documents1, in order to release data from a prior period, you must change your global parameters. Global parameters are parameters that define the scope and settings of your consolidation scenario, such as fiscal year variant, consolidation ledger, consolidation group, etc. You can change your global parameters by using the Change Global Parameters app. You can change the period parameter to select the prior period that you want to release data from.

In group reporting, the currency translation method is assigned to the consolidation unit (B).

In SAP Group Reporting Data Collection forms, the possible period mode is Periodic, which represents monthly, quarterly, or yearly periods.

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.