Access over 20 million homework & study documents
search

Define Economic

Content type

User Generated

Type

Study Guide

Rating

Showing Page:
1/4
lient: In commercial, organizational and technical terms, a self-contained unit in an R/3 System
with separate master records and its own set of tables.
Company Code: The smallest organizational unit of Financial Accounting for which a complete
self-contained set of accounts can be drawn up for purposes of external reporting.
Business Area: An organizational unit of financial accounting that represents a separate area of
operations or responsibilities within an organization and to which value changes recorded in
Financial Accounting can be allocated.
Enterprise structure: A portrayal of an enterprise’s hierarchy. Logical enterprise structure,
including the organizational units required to manage the SAP System such as plant or cost
center. Social enterprise structure, description of the way in which an enterprise is organized, in
divisions or user departments.The HR application component portrays the social structure of an
enterprise
Fiscal year variant: A variant defining the relationship between the calendar and fiscal year. The
fiscal year variant specifies the number of periods and special periods in a fiscal year and how
the SAP System is to determine the assigned posting periods.
Fiscal Year: A period of usually 12 months, for which the company produces financial statements
and takes inventory.
Annual displacement/Year shift: For the individual posting periods various entries may be
necessary. For example, in the first six periods the fiscal year and calendar year may coincide,
whereas for the remaining periods there may be a displacement of +1.
Chart of Accounts: Systematically organized list of all the G/L account master records that are
required in a company codes. The COA contains the account number, the account name and
control information for G/L account master record.
Financial statement version: A hierarchical positioning of G/L accounts. This positioning can be
based on specific legal requirements for creating financial statements. It can also be a self-
defined order.
Account group: An object that attributes that determine the creation of master records. The
account group determines: The data that is relevant for the master record A number range from
which numbers are selected for the master records.
Field status group: Field status groups control the additional account assignments and other
fields that can be posted at the line item level for a G/L account.
Posting Key: A two-digit numerical key that determines the way line items are posted. This key
determines several factors including the: Account type, Type of posting (debit or credit),Layout
of entry screens .

Sign up to view the full document!

lock_open Sign Up
Showing Page:
2/4
Open item management: A stipulation that the items in an account must be used to clear other
line items in the same account. Items must balance out to zero before they can be cleared. The
account balance is therefore always equal to the sum of the open items.
Clearing: A procedure by which the open items belonging to one or more accounts are indicated
as cleared (paid).
Reconciliation account: A G/L account, to which transactions in the subsidiary ledgers (such as
in the customer, vendor or assets areas) are updated automatically.
Special G/L indicator: An indicator that identifies a special G/L transaction.Special G/L
transactions include down payments and bills of exchange.
Special G/L transaction: The special transactions in accounts receivable and accounts payable
that are shown separately in the general ledger and sub-ledger.
They include:
• Bills of exchange
• Down payments
• Guarantees
House Bank: A business partner that represents a bank through which you can process your own
internal transactions.
Document type: A key that distinguishes the business transactions to be posted. The document
type determines where the document is stored as well as the account types to be posted.
Account type: A key that specifies the accounting area to which an account belongs.
Examples of account types are:
• Asset accounts
• Customer accounts
• Vendor accounts
• G/L accounts
Dunning procedure: A pre-defined procedure specifying how customers or vendors are dunned.
For each procedure, the user defines
• Number of dunning levels
• Dunning frequency
• Amount limits
• Texts for the dunning notices
Dunning level: A numeral indicating how often an item or an account has been dunned.
Dunning key: A tool that identifies items to be dunned separately, such as items you are not sure
about or items for which payment information exists.
Year-end closing: An annual balance sheet and profit and loss statement, both of which must be
created in accordance with the legal requirements of the country in question.
Standard accounting principles require that the following be listed:
• All assets
• All debts, accruals, and deferrals
• All revenue and expenses
Month-end closing: The work that is performed at the end of a posting period.

Sign up to view the full document!

lock_open Sign Up
Showing Page:
3/4

Sign up to view the full document!

lock_open Sign Up
End of Preview - Want to read all 4 pages?
Access Now

Unformatted Attachment Preview

lient:?In commercial, organizational and technical terms, a self-contained unit in an R/3 System with separate master records and its own set of tables. Company Code:?The smallest organizational unit of Financial Accounting for which a complete self-contained set of accounts can be drawn up for purposes of external reporting. Business Area:?An organizational unit of financial accounting that represents a separate area of operations or responsibilities within an organization and to which value changes recorded in Financial Accounting can be allocated. Enterprise structure:?A portrayal of an enterprise's hierarchy.?? Logical enterprise structure, including the organizational units required to manage the SAP System such as plant or cost center. Social enterprise structure, description of the way in which an enterprise is organized, in divisions or user departments.The HR application component portrays the social structure of an enterprise Fiscal year variant:?A variant defining the relationship between the calendar and fiscal year. The fiscal year variant specifies the number of periods and special periods in a fiscal year and how the SAP System is to determine the assigned posting pe ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
This is great! Exactly what I wanted.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4