Fixed Assets FICO Certification Example

Business Example
In preparation for year-end closing, you need to review the closing activities for
Asset Accounting.
For month-end closing, you need to execute a depreciation posting run to record
depreciation expenses for the current period and to post the results to the general
ledger.

Task 1:
Carry out the following task.
1. Execute the “Fiscal Year Change” program for your company code AC## IN
TEST MODE only. Check the documentation that is displayed.
Hint: If the “Limitation online” message appears, choose “Yes”
to continue processing.

Task 2:
Process an unplanned depreciation run for the current period in your company
code. Check the effects of this closing process on your financial statements from
the general ledger.
1. Use the report variant VAR## that you created earlier to check the financial
statements (RFBILA00) before posting depreciation. At this point in time,
you will see the asset acquisition value only.
2. In a second session, execute an unplanned depreciation posting run for your
company code AC## for the current period. Execute the update run (deselect
the Test Run indicator). Use printer LP01.
Hint: Remember that you have to execute a depreciation posting run
in the background. Choose Immediate Processing.
Now take a look at the log and the documents for the depreciation run in
your company code AC## for the current period.
4. You use the Asset Explorer to check the depreciation (under Posted Values)
for the depreciation areas 01 (book depreciation) and 20 (cost accounting
depreciation).
5. Return to your original session to recreate the financial statements. Now
you will see the depreciation posting in the balance sheet (accumulated
depreciation) and in the P&L (ordinary depreciation).

Task 3:
Answer the following questions about year-end closing activities in Asset
Accounting.
1. Name the year-end activity that has to be performed within FI-AA in order
to be able to post to asset accounts in the new fiscal year. When should
this activity be performed?
2. Name the checks that are performed before the previous year is closed with
the year-end closing program in Asset Accounting.

Task 1:
Carry out the following task.
1. Execute the “Fiscal Year Change” program for your company code AC## IN
TEST MODE only. Check the documentation that is displayed.
Hint: If the “Limitation online” message appears, choose “Yes”
to continue processing.
a) Carry out the fiscal year change in test mode
Menu path for fiscal year change:
Accounting → Financial Accounting → Fixed Assets → Periodic
Processing → Fiscal Year Change
Enter the following data:
Company code(s): AC##
New Fiscal Year: Current year + 1
Test Run: Set indicator
Execute the report.
Hint: If the “Limitation online” message appears, choose
“Yes” to continue processing.
Once you have checked the report, return to the main menu.

Task 2:
Process an unplanned depreciation run for the current period in your company
code. Check the effects of this closing process on your financial statements from
the general ledger.
1. Use the report variant VAR## that you created earlier to check the financial
statements (RFBILA00) before posting depreciation. At this point in time,
you will see the asset acquisition value only.
a) Call up the report (RFBILA00)
Menu path for report:
Information Systems → Accounting → Financial Accounting →
General Ledger → Balance Sheet
Select a variant:
Goto → Variants → Get... . Enter VAR##.
Choose Execute to select the variant.
Execute the report.
After you have checked the report, return to the Balance Sheet/P+L
Statement screen.




In a second session, execute an unplanned depreciation posting run for your
company code AC## for the current period. Execute the update run (deselect
the Test Run indicator). Use printer LP01.
Hint: Remember that you have to execute a depreciation posting run
in the background. Choose Immediate Processing.
a) Execute an unplanned depreciation posting run
Hint: Remember that you must execute a depreciation posting
run in the background.
Choose Immediate Processing.
Menu path to create a new session:
System – Create Session
Menu path for the depreciation program:
Accounting → Financial Accounting → Fixed Assets → Periodic
Processing → Depreciation Run → Execute
Enter the following data:
Company Code: AC##
Fiscal Year: Current year
Posting Period: Current period
Select Unplanned Posting Run. Deselect the Test Run indicator.
Choose Program → Execute in Background.
Enter LP01 as the output device.
Choose Enter.
Choose start time: Immediate.
Save.


Now take a look at the log and the documents for the depreciation run in
your company code AC## for the current period.
a) Menu path for the log:
Accounting → Financial Accounting → Fixed Assets → Periodic
Processing → Depreciation Run → Display Log
Enter the following data:
Company Code: AC##
Fiscal Year: Current fiscal year
Posting period: Current period
Set the List Assets indicator.
When the assets have been listed, double-click on Document Number
to branch to the accounting document (documents in Accounting).
Take a look at the accounting document and then go back to the main
Asset Accounting menu.
4. You use the Asset Explorer to check the depreciation (under Posted Values)
for the depreciation areas 01 (book depreciation) and 20 (cost accounting
depreciation).
a) Menu path for the Asset Explorer:
Accounting → Financial Accounting → Fixed Assets → Asset →
Asset Explorer
Enter the following data:
Company Code: AC##
Asset: TACMACH##
Fiscal year: Current fiscal year
For this asset, choose the depreciation area 01 book depreciation and
go to the Posted Values tab page to display the depreciation amounts.
Repeat this step for depreciation area 20, cost accounting depreciation.
5. Return to your original session to recreate the financial statements. Now
you will see the depreciation posting in the balance sheet (accumulated
depreciation) and in the P&L (ordinary depreciation).
a) Create financial statements (RFBILA00)
Execute the report again from the Balance Sheet/P+L Statement screen.




Task 3:
Answer the following questions about year-end closing activities in Asset
Accounting.
1. Name the year-end activity that has to be performed within FI-AA in order
to be able to post to asset accounts in the new fiscal year. When should
this activity be performed?
a) Questions on the year-end closing activities in Asset Accounting
Name the year-end activity that has to be performed within FI-AA in
order to be able to post to asset accounts in the new fiscal year. When
should this activity be performed?
The fiscal year change program displays fields for entering a new
annual value for each asset. The earliest you can start this program
is in the last posting period of the 'old' year.
2. Name the checks that are performed before the previous year is closed with
the year-end closing program in Asset Accounting.
a) The check report for year-end closing checks:
• Whether all the assets accrued in the fiscal year have been
activated.
• Whether the fiscal year change has been completed for all assets
• Whether depreciation was fully posted
• Whether errors exist (such as an incorrectly defined depreciation
key for the depreciation calculation)
• Whether the asset balances from depreciation areas for periodic
posting have been posted in full to the general ledger.