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P_S4FIN_2021 SAP Certified Application Professional - Financials in SAP S/4HANA for SAP ERP Finance Experts Free Practice Exam Questions (2025 Updated)

Prepare effectively for your SAP P_S4FIN_2021 SAP Certified Application Professional - Financials in SAP S/4HANA for SAP ERP Finance Experts certification with our extensive collection of free, high-quality practice questions. Each question is designed to mirror the actual exam format and objectives, complete with comprehensive answers and detailed explanations. Our materials are regularly updated for 2025, ensuring you have the most current resources to build confidence and succeed on your first attempt.

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Total 80 questions

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

A.

Bank risk analysis and risk mitigation

B.

Credit limits for customer accounts

C.

Daily cash position, deficits, and surpluses

D.

Hedging and hedging contracts

What SAP S/4HANA deployment option will cause the least business disruption for the average SAP end user?

A.

Central finance

B.

On premise

C.

Private cloud

D.

Public cloud

What are some features of actual costing in SAP S/4HANA?Note: There are 2 correct answers to this question

A.

Selection of activity prices of other CO-versions in the standard run

B.

Simplified data structure with new table structure

C.

Reduced number of steps in the calculation cockpit

D.

Combined run for both standard and alternative valuations

On what level can you assign a fiscal year variant to a company code?

A.

Ledger group, for standard ledger type

B.

Ledger, for any type of ledger

C.

Ledger, forstandard ledger type

D.

Ledger group, for any type of ledger

Which technologies help you decrease data volume in the SAP HANA database?Note: There are 2 correct answers to this question.

A.

Indexing

B.

Storing

C.

Archiving

D.

Aging

You maintain a launchpad for users who are assigned to the Z_MANACC role. What do you need to do to make an app available for the users?

A.

Add the app to a group that is assigned to the Z_MANACC role

B.

Assign the app directly to the Z_MANACC role and add the app to a group.

C.

Assign the app directly to the Z_MANACC role and add the app to a catalog.

D.

Add the app to a catalog that is assigned to the Z_MANACC role.

What do you configure to automatically create a vendor when you create a business partner?Note: There are 2 correct answers to this question.

A.

The partner functions for vendors

B.

Business partner relationships

C.

The customer/vendor integration interface

D.

The business partner grouping key

You want to convert your system from an account solution into a ledger solution without a prior New G/L migration project.Which scenario can be used?Note: There are 2 correct answers to this question.

A.

SAP Standard Conversion

B.

New implementation

C.

Selective Data Transition

D.

Chart of Accounts Conversion

Which of the following is a prerequisite to activate takeover values between depreciation areas?

A.

Takeover values are possible across all depreciation areas.

B.

Only one depreciation area per chart of depreciation is assigned 00.

C.

Depreciation areas must be assigned to the same accounting principles

D.

Takeover values are no longer supported in SAP S/4HANA.

Your customer has an SAP ERP system with classic G/L accounting and wants to convert directly to SAP S/4HANA as soon as possible during the current fiscal year via standard conversion. Which limitations apply in SAP S/4HANA? Note: There are 3 correct answers to this question.

A.

You must use the accounts approach to parallel valuation.

B.

You must define valuation areas for foreign currency valuation.

C.

You must configure profit center and segment accounting.

D.

You cannot configure and activate document splitting during conversion.

E.

You must continue to use Special Purpose Ledger for preparation for consolidation.

You are converting your system to SAP S/4HANA.Which functionality became obsolete in S/4HANA in Asset Accounting and needs to be migrated before conversion?

A.

Depreciation areas for parallel currencies

B.

Non-posting depreciation areas

C.

Year-end closing

D.

Insurance values in the asset master records

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.

Post time sheet data to Controlling (CAT7)

B.

Post FI supplier invoice (FB60)

C.

Settlement of internal order (K088)

D.

Assessment cycle of cost centers (KSU5)

In which of the possible scenarios can you indicate that an account is also a statistical cost element?Note: There are 2 correct answers to this question.

A.

It is used as WIP account from price differences in the material account assignment

B.

It is used as balance sheet account for APC costsin fixed asset accounting.

C.

It is used as inventory account (BSX) in the material account assignment.

D.

It is used as special reserve balance account in fixed asset accounting.

Which objects do you need to configure in SAP S/4HANA after a conversion from classic G/L to SAP S/4HANA? Note: There are 2 correct answers to this question.

A.

Currency type

B.

Accounting principle

C.

Document type

D.

Valuation area

Your customer has created a custom ABAP report in an SAP ERP system based on totalstable GLTO.How is this totals table treated in SAP S/4HANA to safeguard custom ABAP reporting programs?

A.

The table GLTO has been removed and replaced by a compatibility view.

B.

The table GLTO has been removed but its content has been added to table ACDOCA thanks to accompatibility view.

C.

The table GLTO has been kept but a compatibility view has been generated to read its content.

D.

The table GLTO has been archived but its content has been added to table ACDOCA thanks to a compatibility view.

You start your first sandbox migration and get a lot of errors.How are errors handled in an SAP S/4HANA migration? Note: There are 2 correct answersto this question.

A.

Critical errors must be resolved in the production system before Go Live.

B.

All errors related to closed years can be ignored.

C.

Errors must be clarified, and uncritical errors can be accepted

D.

All errors must be corrected before SUM (Software Update Manager)starts.

Which processes create an artificial controlling document (document numberstarting with A)?Note: There are 2 correct answers to this question.

A.

Top down distribution in margin analysis

B.

FI posting of primary costs to production order

C.

Stock material consumption on project

D.

Internal activity allocation to sales order

In your system you have multiple standard ledgers .Which values can be posted to a single ledger? Note: There are 3 correct answers to this question.

A.

Accruals

B.

Currency valuation

C.

Taxes

D.

Depreciation

E.

Payments

You want to set up a multi-level gross margin report in profitability analysis (CO-PA).What do you customize to report the fixed and variable values separately?Note: There are 2 correct answers to this question.

A.

Margin analysis: no specific customizing is necessary

B.

Costing-based CO-PA: no specific customizing is necessary

C.

Margin analysis: assign different accounts (assignment of different accounts is necessary)

D.

Costing-based CO-PA: assign different value fields (assignment of different value fields is necessary)

Which type of extension ledger do you set up to record incoming sales orders for account-based profitability analysis?

A.

Line items with technical numbers/ no deletion possible

B.

Standard journal entries

C.

Journal entries for valuation differences

D.

Line items with technical numbers/ deletion possible

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Total 80 questions
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