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Ans:Book depriciation is that which we follow the method or book the depriciation.
And derived depriciation is that which is already held the method or derived the
rate of method of depriciation.
After run depreciation i have forget calculate depreciation of one asset then how
to calculate depreciation of that asset
If you forget to post the depreciation of a Single Asset. You can again run the
Depreciation thru txn code AFAB and you can give the Asset code(in from to range)
that asset and run the depreciation. Provided the Period for the previous
month/year is open it will post the depreciation for that particular asset
I think WDV method is most superior method because in this method charge every year
some % of assets. if we purchase or sales any assets then also WDV method is very
easy. But in SLM method every year charge fixed amount of assets & if any assets
purchases or sales then SLM method is not easy to follow. Income Tax Act, 1961 is
also allow WdV method for every businessmen.
Ans:fixed asset are assest which gives the business future benfife
Fixed assets are those which are tangiable in nature and is not meant for sale in
the near future and from which future benefits are derived.
Fixed Assets are those which are tangible and used for running the day to day
business which are owned. As they are utilised for business, we save a part of the
profit earned in the business to replace these Assets when they worn out.
Fixed assets(like- bulding, plant, machinery etc.) are those which generate future
economic benefit. It's not sale in ordinary course of business & use in business
activity. AS-10 deal with fixed assets. Fixed Assets are significant portion of
total assets & it's shows in Balance Sheet. Depreciation is also charge every year
on assets. Fixed asset should be eliminated from the financial statements on
disposal or when no further benefit is expected from its use.
What is the Difference between Current Assets and Fixed Assets and how would you
classified it?
Classification:
Current assets:
i would like to classify current assets and fixed assets on basis of their
conversion into cash because a current asset took short time while converting into
cash whereas a fixed took long time example of current assets bill receivable,cash
in hand.fixed assets machinery,plant etc
Ans:Fictitious Assets :<br><br>These are the assets which can not be seen, but
exist in the business.<br><br>ex: Goodwill, patents, etc<br><br>Cash Book: It is
one of the Subsidiary Book which is generally used by any business organisation to
record all the cash transactions which helps to know the cash position as and when
desired. In it all the entries will be recorded. Generally the cash book can be
balanced once in a month.<br><br>Day Cash book: It is the book maintained by
accountant to record all the cash transactions with takes place during the day (it
can be receipt or payment). At later stage these will be posted into cash
book.<br><br>General Ledger : While preparing Trial balance to check the
arithmetical accuracy, some times the debit and credit balances may not tally, to
make the process easy the accountant will open an account named General Ledger to
post the entries which r causing balancing problem.<br><br>
Explain in simple terms what is field status and what does it control?
Ans: Field status group is a group configured in FSV (Field Status Variant) to
maintain field status for G/L (General Ledger) accounts. It controls which field
should suppress, display, optional and required.
b) Types of accounts that can be posted are controlled by it, e.g Assets,
Vendor, Customer, Normal GL account
Ans: The Vendor and Customer codes are stored at the client level. It means that by
extending the company code view any company code can use the customer and vendor
code.
a) Update
d) Description
e) Credit Limit
f) Risk Category
g) Fiscal Variant
h) Rep group
b) Name
c) Maintain Language
e) Controlling Integration
g) Block indicator
What are the application areas that use validation and substitutions?
Ans: a) FI- Financial accounting
b) CO-Cost accounting
c) AM-Asset accounting
e) CS-Consolidation
f) PS-Project system
g) RE-Real estate
a) Document Level
What is the default exchange rate type which is picked up for all SAP transactions?
Ans: For all SAP transaction, the default exchange rate is M (Average Rate).
EBS
How is the electronics bank statement gets uploaded in the sap system, how the
reconciliation and document posting happens? explain in detail...?
You need have three files in FF.5 and two files in FF_5
SAP is normally you maintain bank main account and bank sub
account. Whenever you make a payment through F-53 or F-58
or F110, the entry would be:
Vendor Account Dr
To Bank Sub Account
Example: the bank uses bank code '62' for cash receipts and
for BACS bank collection.
1)FS00-CENTRALLY
In certain cases where the end user wants to create or submit reports in a
particular format we create a Z report.
You must remember that as far as possble never alter the system, use the Z for
reports
what is the difference between Field Status Varient and Field Status Group. Please
explain in Brief.
Ans: Field Status Group are used to control the screen
appearance for document posting. This is achieved through
General Ledged Account by assigning field status group to
General Ledger account or through posting key. For, this we
need Field Status variant, which contains field status
groups, and assign the field status variant to your company
code.
Fields that can be entered, but are not required can be set
to optional entry Optional
What is base line date? Why is that used? Can this be changed?
Ans: base line date is date from which terms of payment apply.
by default base line date will display in invoice posting.
we can control the base line date in Terms of payment
configuration step(Tcode is OBB8).
For eg., for check issued out the following will be entry
************************************************
EXTENDED WITHHOLDING TAX
What is Valuation Class?
Ans:The Valuation Class in the Accounting 1 View in Material Master is the main
link between Material Master and Finance. This Valuation Class
along with the combination of the transaction keys (BSX,WRX,GBB,PRD ) defined above
determine the GL account during posting. We can group together different materials
with similar properties by valuation class. Eg Raw material,Finsihed Goods, Semi
Finished
We can define the following assignments in customizing : All materials with same
material type are assigned to just one valuation
class. Different materials with the same material type can be assigned to different
valuation classes. Materials with different material types are assigned to a single
valuation
class.
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If the same customers/vendors are posted across the business areas, getting the
opening balances business area wise is not possible.