1.    What is periodic processing, and what is  it used for in Asset Accounting?

Periodic processing comprises the tasks that must be performed at periodic intervals.  Since only the values from one depreciation area can be automatically posted online in Financial Accounting, the changes to asset values (transactions) from other areas with automatic postings have to be posted periodically to the appropriate reconciliation accounts.

2.    What is the role of a depreciation area in handling different types of valuation? Why do we need to handle different types of valuation?

By using various depreciation areas that differ from each other in

•    kinds of depreciation (ordinary, special, unplanned  depreciation)
•    depreciation terms (depreciation method, useful life)
•    base values for depreciation calculation (APC, replacement value)

It is possible to perform different valuation and meet the calculation needs for specific purposes (e.g., balance sheet, cost accounting or taxes).
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1.    Define a transaction type.

During the life of an asset there are a number of changes that affect the value of the asset.  The FI-AA System recognizes a wide range of business transactions.  Transaction types make it possible to handle all of the necessary postings appropriately.

2.    It is possible that an asset acquisition is posted in two steps or in two different departments?  How do the two entries clear?

When the asset acquisition is posted in two steps or two different departments, you normally post to a clearing account.  Use a general ledger account with open item management to guarantee that this account can be cleared.  Either the FI department includes this clearing account in their periodic run of SAPF123 (Automatic clearing program) or the clearing account has to be cleared in an additional step (Menu path: Posting > Acquisition > External acquisition > Clearing offsetting entry).
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1.    Describe the function of depreciation areas.

Depreciation area 01, which can be set up as the book depreciation, can make automatic postings to the general ledger.  Other depreciation areas may get their values from depreciation area 01 but calculate and post different depreciation values to the general ledger.  Other depreciation areas can be set up to show: country specific valuation (i.e., tax depreciation); values/depreciations that differ from depreciation area 01 (i.e., cost-accounting reasons); consolidated versions in local/group currency, book depreciation in group currency; and the difference between book, 01, and country-specific tax depreciation (‘derived depreciation area’).

2.    What information (sections) are included in the asset class?

An asset class consists of three main sections:

•    A header, containing control parameters for master data maintenance and account determination,
•    A master data section with default values for administrative data in the asset master record,
•    A valuation section with control parameters for valuation and depreciation terms.
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1.    What is the Asset Accounting sub-module?

The Asset Accounting sub-module manages a company’s fixed assets.  Within the Financial Accounting system, FI-AA serves as a sub-ledger to the General Ledger, providing detailed information on asset-related transactions.

2.    Define the chart of depreciation.

The chart of depreciation contains the defined depreciation areas. It also contains the rules for the evaluation of assets that are valid in a given country or economic area.  The chart of depreciation is a catalog of country-specific depreciation areas structured to meet the various business needs.

Each company code is allocated to one chart of depreciation. Several company codes can work with the same chart of depreciation.
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1.    Answer True or False to the following:
True/False.  Multiple currencies may be used within a single cash journal.
True/False.  A company code may have may cash journals.
True/False.  The cash journal balance may be negative.

2.    List the types of tasks you can perform using Schedule Manager.

•    Worklists (via workflow)
•    Background jobs
•    Online (real-time) jobs
•    Transactions
•    Text reminders
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