Describe THROUGHTFULLY why it is important to understand the SAP General Ledger Accounting Management system.
The central task of G/L accounting is to provide a comprehensive picture of external accounting and accounts. Recording all business transactions (primary postings as well as settlements from internal accounting) in a software system that is fully integrated with all the other operational areas of a company ensures that the accounting data is always complete and accurate.
Beyond fulfilling the legal requirements, General Ledger Accounting also fulfills other requirements for modern accounting:
General Ledger Accounting allows you to perform parallel accounting by managing several parallel ledgers for different accounting principles.
Integration of Legal and Management Reporting
In General Ledger Accounting, you can perform internal management reporting in parallel with legal reporting. For this purpose, the Profit Center Accounting functions are integrated with General Ledger Accounting. Furthermore, you can generate financial statements for any dimension (such as profit center).
General Ledger Accounting supports the segment reports required by the accounting principles IFRS (International Financial Reporting Standards) and US GAAP (Generally Accepted Accounting Principles). For this purpose, General Ledger Accounting contains the Segment dimension.
Cost of Sales Accounting
You can perform cost of sales accounting in General Ledger Accounting. For this purpose, General Ledger Accounting contains the Functional Area dimension.
3b. Describe THOUGHTFULLY how you learned to understand the SAP General Ledger Accounting Management system. Give two (2) examples from your personal experience of each learning process. (At least on paragraph)
The special G/L transactions which are available in SAP system are as follows:
* Down payments and down payment requests