I own a company that produces electric cars. I need information about my financial operations and economic activities. What can I ask my tax consultant what I need?
Financial statements present a summary of your organization's financial operations and economic activities
All finance operations and value flows are displayed via gl accounts. There are a lot of different accounts for different causes. How can I structure my accounts?
Without the financial statement versions, the chart of accounts is a random, unorganized list of accounts.
Manage global hierachies
I have more than one fsv. How can I differ it from the other ones I created?
An FSV ID and description.
I want to assign chart of accounts to my fsv. I want to add a gl account from another chart of account to this fsv. Is this possible?
No
I create a fsv for balance sheet. In the next I want to change the structure of the hierarchy. But I want to keep the old. How can I realize that?
Valid From and Valid To: The FSV can only be applied in reports if the reporting period is within your specified time frame. With the time-dependent nature of Financial Statement Versions, it's possible to generate several FSV hierarchy versions under an identical FSV ID, given that their respective time periods don't coincide.
Name the automatically generated nodes when creating a new fsv
Assets
Net Result: Loss
P&L Result
Not Assigned
I want to create a new fsv. There a automatically generated nodes. They are similar to a balance Sheet. The Profit and Loss doesnt have a structure in Profit and Loss. But another detail. There is information for a third statement and a position for not assigned accounts.
Liabilities and Equity
Net Result: Profit
Financial Statement Notes
There are new regulations for my balance sheet. Can I adapt to these changes?
Financial statement versions need to be adapted regularly to cope with regulatory or business requirement changes.
What does this function mean?
Multiple instances of the same FSV ID can be created, each identified by their validity dates
What can I do if the total balance of the node determines where it is displayed as well as its linked accounts?
I have a bank account. It can be negative. Then it switches to the other side of the balance sheet. How can I activate this function? I dont want the account on one side with zero amount, It means no double.
I can activate the allow contra nodes feature the entire financial statement version.
What are the two methods to manage the required set of GL accounts needed for bank reconciliations:
Standard balance sheet accounts
Special cash accounts, that is, bank reconciliation accounts.
What is cost of sales accounting?
Cost of sales accounting is a method used to analyze the sales revenue within a specific accounting period against the costs of production for the activities performed during a period of time.
What are semantic tags?
Semantic tags in SAP S/4HANA Cloud are textual identifiers used to highlight key figures in financial statement versions (FSVs).
What is an advantage of custom semantic tags?
Beyond the standard semantic tags that are offered, SAP S/4HANA Cloud also allows you to construct your own custom semantic tags to cater to your unique reporting requirements.
Do you need to link semantic tags to manually created or added items, accounts, or functional areas?
Yes
Where can user create their own semantic tags?
In addition to using pre-delivered tags, users can create their own specific semantic tags through the Central Business Console.
What require some apps to be calculated based on financial statement version nodes?
Some analytical apps require financial key performance indicators (KPIs) to be calculated based on financial statement version nodes. These KPIs are calculated using semantic tags assigned to these nodes.
Which app allows you to generate financial statement-based KPIs?
With SAP S/4HANA embedded analytics, the Manage KPIs and Reports app allows you to generate financial statement-based KPIs.
There are two main apps to execute the balance sheet and income statement reports in SAP S/4HANA:
Balance Sheet/Income Statement
Balance Sheet/Income Statement (Multidimensional)
The header filter requires the completion of the following mandatory fields to execute the report:
Company Code
…
Financial Statement Version
End Period and Comparison Period
Ledger
Statement Type
Currency
Compared to the classic app, the multidimensional Balance Sheet/Income Statement app presents some key differences:
Possibility to export to *.PDF, *.CSV, and *.XLS formats
Hierarchy time dependency unavailable
Business transaction types available
Multiple dimensions available
Ledger comparisons available
Analytical engine features available
How does the app Cash Flow Statement - Indirect Method operates?
The Cash Flow Statement - Indirect Method app is a powerful tool that provides users with a swift and comprehensive snapshot of the cash flow situation of their company. This application operates by sourcing information from semantic tags that are duly assigned to G/L accounts within the cash flow statement.
It is a common requirement for accountants working with the general ledger to be able to assess balance sheet positions according to their related transaction types. This analysis is typically required for:
Asset accounts
Equity accounts
Balance sheet accounts related to valuation
Inventory accounts for materials
Provisions
Last changeda month ago