Font size
WorksheetsReporting Training
Total questions: 15
Worksheet time: 10mins
HFM is a tool that:
create postings to the proper account in the ledger
integrates purchasing inventory
provides financial consolidation and reporting
is used only for VAT purposes
The HFM upload can only be done manually
True
False
the mandatory HFM rollforwards are:
FA rollforward, Bad debt rollforward
Tax rollforward, FA rollforward, ASC 606 rollforward
cashflow rollforward, tax rollforward, FA rollforward
FA rollforward, AR reserve rollforward, Tax rollforward
the fixed assets disposals are not reported in the FA rollforward
Yes, this information needs to be reported
No, only the depreciation
No, only the depreciation and additions
We have received from an insolvent customer 5.200 eur, in which AR reserve rollforward column needs to be reported?
AR provision expense
AR reserve recoveries
AR reserve write offs
Any of these answers is correct
We have done a 50K payment to tax authorities, in which column do we need to input this information in the Tax rollforward?
RF_Tax_Provision_CY - Current Year Provision
RF_Tax_Payments_Juris - Payments to/from Taxing Jurisdictions
RF_Tax_Payments_Affil- Payments to Affiliated Companies
RF_Tax_Transfers_TaxAcct - Transfer to from other Tax Accounts
the 10b Aging USGAAP can be reported through HFM and through the smartview file
True
False
The deadline to complete sales flash is
WD1
WD2
WD-1
WD3
It is not possible to make manual adjustments in HFM
Yes, everything must be adjusted in JDE/SAP
No, it's possible to enter manual adjusments in USGAAP
No, it's possible to enter manual adjusments in USGAAP and in statutory
Yes, we are not able to adjust anything in HFM as per audit requirements
In case that a manual HFM adjusment is entered on the system,
this needs to be entered permanently each month until YE
this needs to be corrected in SAP/JDE on the following month
it is not possible to enter manual adjustments in HFM
this needs to be corrected in HFM on the following month
Before we submit the reporting, we need to ensure that:
The period in SAP/HFM is closed
There are no validation errors in HFM
Flux analysis is commented and reported
no manual adjusments are entered into HFM
In the validation file, we see an imbalance in the balance sheet for our company, what do we do?
Check the rollforwards
Check the reconciliation HFM vs ERP
if the imbalance is below 10K we are able to submit the report
We can jump through the window
External sales should be reported in no cost center
False, all the P&L must be reported with cost center
False, external sales must be reported in manufacturing cost center
True, external sales are always reported in no cost center
we can start reporting the input form 25 (sales type) once,
sales is closed
all rollforwards are completed
allocations are completed
sales flash is reported
all the BS reconciliations needs to be completed and approved before submitting the reporting
No, we can submit the reporting without the reconciliations approved
No, it is not needed, we can prepare them during the month
Yes, it is mandatory to ensure that any additional adjustment is needed
Yes, all the reconciliations needs to be approved and completed according to audit requirements
