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Sap

These posting keys are also crucial in controlling entries to be made in the line items. A statistical key figure is utilized in allocating internal costs between different cost centers that utilize services related to other cost centers (Padhi, 168). In this case, statistical key figures can be machine hour or the head count of any cost center. During the processing of a sales order, SAP R/3 utilizes a system of allocating prices to materials and products known as the condition technique. In allocating costs, there are three distinct methods utilized under SAP. The assessment method transfers primary and secondary costs from the dispatching cost center to the receiving control object. During utilization of this method, various business processes and cost centers can take the place of the sender, whereas a cost object, internal order or a cost center are the receivers of the assessment. The user can restrict the number of receiver categories through customization, where both the primary and secondary postings are allocated at the end of each period through utilization of user defined keys (Padhi, 175). With the distribution method, primary costs are transferred to receiving controlling objects form the sender cost center. In this method, the sender is restricted to cost centers and business processes only. The receiver can be an internal order, cost center or a business process. Primary postings are collected an each cost center and allocated through use of the user defined key at the end of each period. Under this method, distribution is restricted to primary costs, whereas the original cost elements remain unchanged. However, reversal of distributions is possible (Padhi, 180). Qn.2 CO documents are those controlling documents available to the company and are generated by the SAP system. These documents are mostly used for control purposes by the management. These documents include invoices and memos for utilization by customers and vendors. Included in this list are vendor and customer payment as well as general document whose transactions are posted in the general ledger account (Periodic Reposting). Financial accounting (FI) deals with analyzing finances available to the business and presenting the analysis in a balance sheet and income statement among other financial statements. In financial accounting, memos and invoices are classified as source documents. These source documents are utilized in preparation of income statements and balance sheet at the end of a financial year (Principles of accounting.com). CO documents are not the original documents but are utilized a source documents since they display a complete original document so long as proper accounting entries are made. These documents can be relied on since in case of a defective line item, the use can trigger corrective postings from the report or document generated. Source documents are mostly utilized by those businesses that do not maintain complete records for their transactions. In preparation of financial statements of a business that maintains incomplete records, the accountant starts by making adjusting entries on trail balance and journal entries in the general ledger. There is need for the user to make adjusting entries before ...Show more

Summary

SAP University’s name: Qn.1 SAP applications are built around the latest R/3 system that provides the application with capability to manage an organization’s finances, assets, and cost accounting information related to production operations, materials, personnel, plants and documents that have been archived (Periodic Allocations)…
Author : ralph22
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