Provide SAP C-S4FCC-2021 Practice Test Engine for Preparation [Q10-Q32]

admin C-S4FCC-2021 SAP August 8, 2023

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Provide SAP C-S4FCC-2021 Practice Test Engine for Preparation

Detailed New C-S4FCC-2021 Exam Questions for Concept Clearance

SAP C-S4FCC-2021 exam consists of 80 multiple-choice questions and has a duration of 180 minutes. Candidates must achieve a passing score of 64% or higher to earn the certification. C-S4FCC-2021 exam covers various topics related to SAP S/4HANA Finance for Group Reporting, including financial consolidation, intercompany reconciliation, legal consolidation, and other key functionalities. SAP Certified Application Associate – SAP S/4HANA Finance for Group Reporting Associates (SAP S/4HANA 2021) certification is valid for three years and can be renewed by passing a recertification exam or by taking part in ongoing training and education programs offered by SAP. With the SAP C-S4FCC-2021 certification, professionals can demonstrate their expertise in SAP S/4HANA Finance for Group Reporting and enhance their career opportunities in this field.

SAP C-S4FCC-2021 (SAP Certified Application Associate – SAP S/4HANA Finance for Group Reporting Associates (SAP S/4HANA 2021)) Certification Exam is an important certification for those who want to demonstrate their knowledge and skills in SAP S/4HANA Finance for Group Reporting. SAP Certified Application Associate – SAP S/4HANA Finance for Group Reporting Associates (SAP S/4HANA 2021) certification exam is designed for individuals who are responsible for implementing and configuring financial accounting and group reporting solutions in SAP S/4HANA.

Q10. As of January 2023, your corporation has 3 consolidation groups and 5 consolidation units. In February
2023, the ownership percentage for France was increased from 75% to 76% as shown in the following image:

What needs to be updated for February 2023 in SAP S/4HANA Finance for group reporting?

Import the full ownership percentages for CGO0A and CGOOE consolidation groups

Import the ownership percentage change for CGOOE and the CGOOW consolidation groups

Import the ownership percentage change the CGOOE consolidation group

Import the full ownership percentages for CGO0A, CGOOE and the CGOOW consolidation groups

Q11. Which version stores only delta amounts?

Planning version

Group currency extension version

Standard version

Extension version

Q12. What tasks can be run from the data monitor?
Note: There are 2 correct answers to this question.

Calculate net income

Prepare for consolidation group change

Translate currency

Eliminate intercompany

Q13. How do you configure periodic vs. YTD translation?

Temporal translation difference

Reference rate

Currency translation indicator

Translation key

Q14. What happens when a workflow request in SAP Intercompany Matching and Reconciliation is approved?

The reconciliation status is set to closed

Variance entries are posted

Elimination entries are posted

The elimination status is set to closed

Q15. Which task uses a blank posting level?

Release universal journal

Data collection

Calculate net income

Currency translation

Q16. When there is a balance sheet and income statement posting in a group journal entry, what creates the offsetting entries?

The data validation task

Selected FS items for automatic posting

Selection objects

The calc net income task

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).

Q17. What ownership chains are supported in the equity pickup solution?
Note: There are 2 correct answers to this question.

Vertical

Circular

Single level

Horizontal

According to the SAP Certified Application Associate – SAP S/4HANA Finance for Group Reporting Associates (SAP S/4HANA 2021) certification exam1, the ownership chains that are supported in the equity pickup solution are:
Vertical: A vertical ownership chain is a direct or indirect ownership relationship between two units in the same consolidation group. For example, if unit A owns 80% of unit B, and unit B owns 60% of unit C, then there is a vertical ownership chain from A to C.
Horizontal: A horizontal ownership chain is an ownership relationship between two units that are not in the same consolidation group, but have a common parent unit. For example, if unit A owns 80% of unit B and 70% of unit C, then there is a horizontal ownership chain between B and C.

Q18. In SAP S/4HANA you have ten cash G/L accounts that belong to one G/L account hierarchy node and one group account as shown in the following table.

What is the recommended way to summarize the cash accounts into SAP S/4HANA Finance for group reporting?

Map all 10 cash G/L accounts to one FS item

Map each cash G/L account to an FS item and roll them up in an FS item hierarchy node

Map the group account 10000000 to an FS item

Map the Cash_node to an FS item

Q19. What does balance carry forward do?

It carries forward asset values to the same subitem as in the previous year by default.

It carries forward reporting FS items to the same FS item as in the previous year by default unless otherwise specified.

It carries forward statistical FS items to the same subitem as in the previous year by default.

It carries forward equity values to the same FS item as in the previous year by default unless otherwise specified.

Q20. What can be assigned to a report item in a reporting rule?
Note: There are 2 correct answers to this question.

Subitems

Posting levels

Hierarchy levels

FS items

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.

Q21. In SAP S/4HANA you have ten cash G/L accounts that belong to one G/L account hierarchy node and one group account as shown in the following table.

What is the recommended way to summarize the cash accounts into SAP S/4HANA Finance for group reporting?

Map all 10 cash G/L accounts to one FS item

Map each cash G/L account to an FS item and roll them up in an FS item hierarchy node

Map the group account 10000000 to an FS item

Map the Cash_node to an FS item

Q22. When running reports, what symbol is used to select a blank hierarchy?

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.

Q23. What could be the problem if you cannot release data?
Note: There are 2 correct answers to this question.

Company codes are not mapped to consolidation units.

The period is closed in the general ledger.

Companies are not mapped to consolidation units.

The period is closed in group reporting.

You cannot release data if company codes are not mapped to consolidation units or if the period is closed in group reporting. Both of these conditions prevent the release of data for consolidation.

Q24. What are settings you can define in a document type?
Note: There are 3 correct answers to this question.

Reversal document type

Account range

Number range

Posting level

Balance check

Q25. What can you do when using the import group journal entries template?
Note: There are 3 correct answers to this question.

Override substitution rules by inputting values in the Excel file

Specify the posting level on the header section of the template

Adapt the template to include your own custom fields

Post the journal entry to multiple versions at the same time

Upload multiple journal entries using a single Excel file

Q26. What dimensions can be used in an intercompany report to provide a consolidation view?
Note: There are 2 correct answers to this question.

Consolidation unit eliminated

Profit center

Consolidation unit

Profit center eliminated

Q27. What can happen in SAP S/4HANA Finance for group reporting when you release data?
Note: There are 2 correct answers to this question.

ACDOCC records are copied into group reporting.

ACDOCP records are copied into group reporting.

ACDOCA records are copied into group reporting.

BSEG records are copied into group reporting.

Q28. In SAP S/4HANA you have ten cash G/L accounts that belong to one G/L account hierarchy node and one group account as shown in the following table:

What is the recommended way to summarize the cash accounts into SAP S/4HANA Finance for group reporting?

Map all 10 cash G/L accounts to one FS item

Map each cash G/L account to an FS item and roll them up in an FS item hierarchy node

Map the group account 10000000 to an FS item

Map the Cash_node to an FS item

Q29. In group reporting, what do SAP Intercompany Matching and Reconciliation reason codes do?

They generate inbox entries.

They identify currency translation differences in intercompany eliminations.

They generate variance postings.

They identify transaction differences in intercompany eliminations.

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.

Q30. What field values are controlled by breakdown categories when posting to SAP S$/4HANA Finance for group reporting?
Note: There are 2 correct answers to this question

Subitems

Consolidation units

FS items

Custom fields

Q31. How are the investment and the non-controlling interest values accounted for in the purchase method?
Note: There are 2 correct answers to this question.

There can be non-controlling interest values.

The investment is adjusted.

There cannot be any non-controlling interest values.

The Investment is eliminated.

Q32. How are the investment and the non-controlling interest values accounted for in the purchase method?
Note: There are 2 correct answers to this question.

There can be non-controlling interest values.

The investment is adjusted.

There cannot be any non-controlling interest values.

The Investment is eliminated.

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.

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