[Jan-2024] Exam C-S4FCC-2021: New Brain Dump Professional - PassReview
Free C-S4FCC-2021 Exam Dumps to Improve Exam Score
SAP C-S4FCC-2021 exam consists of 80 multiple choice and multiple response questions, and the duration of the exam is 180 minutes. C-S4FCC-2021 exam is available in English and is conducted online. The passing score for C-S4FCC-2021 exam is 65%, and candidates who pass the exam receive a SAP Certified Application Associate - SAP S/4HANA Finance for Group Reporting Associates certification. SAP Certified Application Associate - SAP S/4HANA Finance for Group Reporting Associates (SAP S/4HANA 2021) certification is valid for three years, and candidates can renew their certification by taking the relevant course or by passing the latest version of the exam.
SAP C_S4FCC_2021 certification exam is an excellent opportunity for professionals who want to advance their careers in finance and accounting. SAP Certified Application Associate - SAP S/4HANA Finance for Group Reporting Associates (SAP S/4HANA 2021) certification demonstrates that an individual has the skills and knowledge required to work with SAP S/4HANA Finance for Group Reporting successfully. It is also a valuable asset for individuals who want to transition to a career in finance or accounting.
NEW QUESTION # 42
What does balance carry forward do?
- A. It carries forward asset values to the same subitem as in the previous year by default.
- B. It carries forward equity values to the same FS item as in the previous year by default unless otherwise specified.
- C. It carries forward reporting FS items to the same FS item as in the previous year by default unless otherwise specified.
- D. It carries forward statistical FS items to the same subitem as in the previous year by default.
Answer: C
Explanation:
Balance carry forward in group reporting carries forward reporting FS (Financial Statement) items to the same FS item as in the previous year by default unless otherwise specified. This ensures that the opening balances for the new fiscal year are correctly set based on the closing balances of the previous fiscal year.
NEW QUESTION # 43
What validation tasks should be run after running a reclassification with posting level 10?
Note: There are 2 correct answers to this question.
- A. Validate consolidated data
- B. Validate reported data
- C. Validate standardized data
- D. Validate universal journal
Answer: B,C
NEW QUESTION # 44
Your currency translation is not translating opening balances.
What setting must be changed?
- A. Translation key
- B. Selection
- C. Exchange rate indicator
- D. Reference rate
Answer: C
NEW QUESTION # 45
What dimensional hierarchy should be selected when running intercompany reports from a legal perspective?
- A. Consolidation unit
- B. Company
- C. Consolidation group
- D. Company code
Answer: B
NEW QUESTION # 46
Your currency translation is not translating opening balances.What setting must be changed?
- A. Translation key
- B. Selection
- C. Exchange rate indicator
- D. Reference rate
Answer: C
NEW QUESTION # 47
What FS item types can you use in SAP S/4HANA Finance for group reporting?
Note: There are 3 correct answers to this question.
- A. Balance sheet
- B. Reporting
- C. Statistical
- D. Profit & Loss
- E. Asset
Answer: B,C,E
NEW QUESTION # 48
When booking group journal entries your customer needs to record values by business area, but it isn't available in the Post Group Journal Entries app. What must you do?
- A. Add business area to a breakdown category
- B. Enable business area as an attribute for consolidation unit
- C. Enable business area for input
- D. Add business area to the ACDOCU table
Answer: D
Explanation:
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NEW QUESTION # 49
Company A purchased 80% of Company B for 80 million in December of 2022. Company B's equity is 50 million. What accounting entries should be generated when consolidation is run for December of 2022?
Note: There are 2 correct answers to this question.
- A. Debit goodwill 50 million
- B. Credit investment 64 million
- C. Debit goodwill 40 million
- D. Credit investment 80 million
Answer: C,D
NEW QUESTION # 50
Where do non-historic currency translation adjustments normally post?Note: There are 2 correct answers to this question.
- A. To the original subitem
- B. To a currency translation adjustment subitem
- C. To currency translation adjustment FS item
- D. To the original FS item
Answer: B,C
Explanation:
Non-historic currency translation adjustments normally post to a currency translation adjustment financial statement (FS) item and to a currency translation adjustment subitem. This allows for proper tracking and reporting of currency translation adjustments.
NEW QUESTION # 51
What must you do in order to release data from a prior period?
- A. Run the Copy Transaction Data app
- B. Run balance carry forward
- C. Change your global parameters
- D. Release data with an offset of -1
Answer: B
NEW QUESTION # 52
Which of the following SAP S/4HANA ledgers are possible sources for SAP S/4HANA Finance for group reporting? Note: There are 3 correct answers to this question.
- A. Aspecial purpose ledger
- B. The predictive ledger
- C. An extension ledger
- D. A consolidation ledger
- E. The leading ledger
Answer: A,D,E
NEW QUESTION # 53
What do group journal validation and substitution have in common? Note: There are 2 correct answers to this question.
- A. Preconditions
- B. Control levels
- C. Filtering logic
- D. Table lookups
Answer: A,C
Explanation:
According to the SAP S/4HANA Finance for Group Reporting Associates documents1, group journal validation and substitution have the following things in common:
Preconditions: Conditions that define when a validation or substitution rule is executed. Preconditions can be based on different dimensions or attributes of the data, such as company code, account type, etc.
Filtering logic: Logic that defines how data is filtered and selected for validation or substitution purposes. Filtering logic can be based on different operators or expressions, such as equal to, greater than, contains, etc.
NEW QUESTION # 54
What tasks must be run before the activity based investment & equity elimination? Note: There are 2 correct answers to this question.
- A. Run intercompany elimination
- B. Run total divestiture
- C. Calculate group share
- D. Calculate net income
Answer: C,D
Explanation:
According to the SAP S/4HANA Finance for Group Reporting Associates documents1, the tasks that must be run before the activity based investment & equity elimination are:
Calculate net income: This task calculates the net income of each consolidation unit based on their income statement items. The net income is used to determine the share of profit or loss of each parent unit in their subsidiaries.
Calculate group share: This task calculates the group share percentage of each parent unit in their subsidiaries based on their ownership percentage and consolidation method. The group share percentage is used to determine the amount of investment and equity elimination.
NEW QUESTION # 55
What dimensions can be used in a hierarchical elimination?
Note: There are 2 correct answers to this question.
- A. Company
- B. Profit center
- C. Company code
- D. Segment
Answer: B,D
NEW QUESTION # 56
Company A purchased 80% of Company B for 80 million in December of 2022. Company B's equity is 50 million.
What accounting entries should be generated when consolidation is run for December of 2022?
Note: There are 2 correct answers to this question.
- A. Debit goodwill 50 million
- B. Credit investment 64 million
- C. Debit goodwill 40 million
- D. Credit investment 80 million
Answer: C,D
NEW QUESTION # 57
What must be done in order to use intercompany eliminations that are integrated with SAP Intercompany Matching and Reconciliation?
Note: There are 2 correct answers to this question.
- A. Activate an intercompany hierarchy
- B. Activate the reconciliation close process
- C. Create an elimination method
- D. Create a reclassification method
Answer: A,C
Explanation:
In order to use intercompany eliminations that are integrated with SAP Intercompany Matching and Reconciliation, you must create an elimination method and activate an intercompany hierarchy. The elimination method defines the rules for eliminating intercompany transactions, while the intercompany hierarchy organizes the consolidation units involved in intercompany transactions.
NEW QUESTION # 58
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:
- A. Import the ownership percentage change the CGOOE consolidation group
- B. What needs to be updated for February 2023 in SAP S/4HANA Finance for group reporting?
- C. Import the full ownership percentages for CGO0A and CGOOE consolidation groups
- D. Import the full ownership percentages for CGO0A, CGOOE and the CGOOW consolidation groups
- E. Import the ownership percentage change for CGOOE and the CGOOW consolidation groups
Answer: E
NEW QUESTION # 59
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Achieving the SAP C-S4FCC-2021 certification provides a number of benefits for professionals in the finance and accounting industry. It validates their knowledge and skills in SAP S/4HANA Finance for Group Reporting, which can help them advance their careers and increase their earning potential. It also demonstrates their commitment to professional development and continuous learning.
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