SAP Certified Application Associate - SAP S/4HANA Finance for Group Reporting Associates (SAP S/4HANA 2021) C_S4FCC_2021 Exam Questions with Experts Answers Updated Recently

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.

The possible sources for SAP S/4HANA Finance for group reporting are an extension ledger, the leading ledger, and a special purpose ledger. These ledgers store the financial data required for group reporting purposes.

According to the SAP S/4HANA Finance for Group Reporting Associates documents1, FS item types that you can use in SAP S/4HANA Finance for group reporting are:

• Balance sheet: An FS item type that represents a balance sheet item, such as assets, liabilities or equity. Balance sheet items are carried forward from one period to another and are translated using historical or current rates depending on their balance type.
• Profit & Loss: An FS item type that represents an income statement item, such as revenue, expense or net income. Profit & loss items are not carried forward from one period to another and are translated using average or current rates depending on their balance type.
• Statistical: An FS item type that represents a statistical item, such as variances or differences between debit and credit balances. Statistical items do not affect the balance sheet total or net income and are not translated.