SAP Central Finance

Describe cost object mapping

Short-living cost objects such as production orders or internal orders can be mapped using cost object mapping. With this framework, the cost objects present in the source system can be easily mapped to a cost object in the central system and is depends on the user how they want their cost objects to be mapped. The mapping information is stored in the central system.

The following figure shows how SAP Simple Finance, can be used with SAP Landscape Transformation Replication Server and SAP Master Data Governance. If SAP MDG is integrated with the SAP Simple Finance, then SAP MDG can be used to harmonize the master data from the source system to the Central system.

To replicate cost objects, from source systems to Central Finance, SAP LT Replication Server must be used. This Server collects feeds data written into databases in the source systems into the corresponding Central Finance accounting interface. Master, data can be mapped using SAP MDG while for short-living cost objects, SAP MDG should be used in conjunction with the cost object mapping framework.

Once the data is mapped, SAP AIF is used to log the details of errors encountered, if any

List the error categories that will arise when error handling with AIF

The following categories of error arise when error handling with AIF:

• Errors relating to the initial load of cost object which is displayed in Customizing Activity Monitor Postings
• CO secondary posting documents

Explain about SAP Landscape Transformation Replication Server

SAP Landscape Transformation Replication Server is used for duplicating the data to Central Finance for both Controlling Finance and postings. A reporting of transactions into the central system is used in place of simple table replication. The most important business benefit of Landscape Transformation Replication is that the CO postings are replicated to the Central Finance system, which will allocate costs between cost objects originated in different source systems. Thus, reporting on overhead costs can be done from the central finance system itself, for the entire group, thereby eliminating the need to pull individual reports from different source systems and creating overhead

What are the components of SAP S/4 HANA and SAP Central Finance?

SAP central framework works with Landscape Transformation Replication Server to collect data from the databases to the source system and replicate it in real time using CAI. It is advisable to use SAP MDG with SAP central finance to define a common data structure for master data.SAP MDG is available in HANA platform. Using an interactive application error and exception handling can easily be managed

Explain about SAP Central Finance Ecosystem

Central finance defines common data structure which unifies the data coming from the different accounting system, the design of common data structure determine how the data is replicated and organized in future applications. A well-designed data structure is a foundation for data analysis and information

What are the benefits of SAP Central Finance?

• Global visibility to financial data without disruption
• Unification of SAP and Non-SAP financial data
• Single Source of Truth
• Flat and fast, real-time data with SAP HANA
• Soft financial close - ANYTIME
• Improved reporting capabilities on real-time data

What are the features in SAP Central Finance?

• SAP is a product and a deployment option for S/4 HANA Finance that breaks out the Finance and Controlling (FI/CO) applications for the rest of SAP ERP.
• Central Finance paves a way to implement S/4 HANA Finance without disrupting the existing source SAP ERP systems
• SAP Central Finance act as a flexible reporting platform for mergers and acquisitions, and a shared services system
• Stand Alone BW and BPC investments would need data transfer through ETL, while Central Finance is through real-time replication of FI/CO documents
• Fiori, HANA Live (or the new S/4 HANA Analytics), SAP BW, and SAP BPC can all be integrated in real-time at the document level with financial controls and integrity that come with general ledger in addition to an error and correction handling prior to posting via the Application Integration Framework (AIF) functionality
• Central Finance consists of one physical document for real-time processing and analytics and merges FI and CO together into a singular line item table for “single source of truth” known as the “Universal Journal”
• The linking of accounting interface with Universal Journal which reduces the need for reconciliation, integration, batch processing, and data replication
• Master data management is handled by Master Data Governance (MDG)

List the deployment strategy to be designed for an organization for implementing SAP Central finance?

The deployment of SAP is ultimately a business project, with business objectives. The business, IT and system integrators play an important role. It’s upon the management to decide how they prepare to execute the roles and implications of choosing to delegate or deprioritize certain aspects of the role. The following are deployment scenarios based on specific circumstances:

• Short-term value valuation.
• One-step system consolidation
• Multi-stage consolidation system
• Future financial information hub

What are the ways of adopting SAP Central Finance in an organization?

The SAP finance system can be adapted in two ways:

What are the target audiences for SAP Central Finance?

There are three primary audiences for Central Finance:

• The first target audience is the enterprise who initially wish to experience the SAP s/4 HANA innovations at low cost and some short time value and want to quickly get the benefits of simplified analytics.
• The second target audience is a business that is interested in ERP systems and has already gone through some basic effort, and are certain of no more consolidation in the future. Central Finance provides a fast path to innovation, central process execution, and consolidated reporting with a short time to value.
• The third is the organization with a definite need for consolidation. Companies can initially start benefitting from Central Finance by connecting their source systems to the Central Finance instance, and then migrate onto this instance and decommission the underlying source systems

What are the Prerequisites for SAP Central Finance Course ?

This course is based on the software release SAP S/4HANA 1610 and comes with its own set of prerequisites:

Mandatory Prerequisites include:

• Learners familiar with SAP ERP Financial Accounting or Management Accounting in SAP ERP.
• Hands-on experience in SAP ERP or SAP S/4HANA project implementation is highly recommended.
• Financial Accounting Consultants should have completed – S4F01 Financial Accounting in SAP S/4HANA

Recommended Prerequisites include:

• S4F20 Processes in Management Accounting in SAP S/4HANA
• Management Accounting Consultants should satisfy the following SAP S/4HANA prerequisites: S4F02 Management Accounting in SAP S/4HANA and S4F10 Processes in Financial Accounting in SAP S/4HANA

What are the system requirements to attend the live sessions?

1. Processor I3 with 4GB RAM, OS can be 32 or 64 bit (Laptop/Desktop)
2. Internet connection with Min 1 MBPS speed
3. Good quality headset
4. Power back up
5. You can also log in through your Android mobile phone/ Tablet with 4G internet connectivity

What if the trainee miss any session?

The trainee can watch the recorded video of all the sessions in the LMS or Trainee can attend the missed session in the upcoming batches.

What do the trainee get from the LMS?

The trainee will have the access to Recorded sessions, Assignments, Quizzes, Case Studies, few course documents posted by trainers, Placement related docs etc.

What is the validity of the LMS access? What if the LMS access is expired.

The trainee will get 1-year access to the LMS. You can contact our support team to extend the validity of the LMS.

Will the trainee get any project to work on with SAP MDG course?

Yes, of course! The trainee will get the project at the end of the course; you need to submit a project. Our trainers will assist you to complete the project.

How are the practicals done?

The trainee will get step by step assistance on VM installation from our expert trainers during the practical sessions, post live sessions, you can practice at your end and submit your queries if any to our support team support@bumacoglobal.com for further assistance.

What are the types of training we offer?

1. WBLT- Web-based live Training
2. WBVT- Web-based Video Training
3. One on One live training
4. Self-paced training
5. In class training
   

What are the benefits of online training ?

1. Flexible location
2. Flexible schedule
3. Travel free
4. Time saving
5. Cost saving
6. LMS access
7. You will never miss a class
8. Two-way interactive
9. Fast learning
10. Trainer support for 1 year
    

Who are our Trainers?

Our trainers are industry experts having 10 to 15 years of industry experience and 3-4 years of training experience. Most of the trainers are working professionals who teach the real time scenarios which will help the students to learn the courses in an effective manner.

Will the trainee get the certification post the course completion?

Yes, Trainee will get the participation certificate from Bumaco global upon successfully completing the course.

What if the trainee has more queries and need assistance?

The trainee can drop an email to support@bumacoglobal.com an automatic ticket will get generated. Our support team works 24/7 to assist you with all your queries.