BPI Quiz 1 Study Guide with Complete
Solutions
Define Company code - Answer-you establish a new company (or in real life a GBI legal
entity) located in the US. this company is represented in SAP by a "company code
importance of a company code - Answer--the new company code is the basis of finan...
Define Empty Chart of Accounts - Answer✔✔-(eventually be associated with your Company
Code) In later steps you will populate this empty Chart of Accounts with actual General Ledger
account numbers, names, and control information.
Maintaining Control Area - Answer✔✔-(this will eventually be associated with your Company
Code) a Mgmt Accting entity that rolls up all Cost Accting data from a Company Code.
Larger firms can roll up many Company Codes into one Controlling Area. This allows firm
management to have one view of Cost Accounting data across multiple legal entities.
Define Credit Control Area - Answer✔✔-(eventually associated with your company code) the
organizational unit that manages the firm's customers' credit limits
-larger firms can roll up many company codes into one credit control area. this allows the firm
to manage a global customer's credit across geographic boundaries
Define Variants for Open Posting Period - Answer✔✔-(this will eventually be associated with
your Company Code) This Variant identifies the General Ledger posting periods that can be used
during a fiscal year.
In this step, you create an empty Variant (GL##). In a later step you will define this Variant to
include 13 posting periods per fiscal year.
Page 2/7
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Emillect. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
