Questions On Srap: Trivia Quiz!

PSNME stands for Product Supply Non-Manufacturing Expense. This acronym refers to the expenses incurred in the product supply process that are not related to manufacturing activities. These expenses could include costs associated with procurement, logistics, transportation, warehousing, and other non-manufacturing aspects of the supply chain.

The Primary Cost Element Group for SRAP is ESSPENDING. This means that the main cost elements associated with SRAP are related to expenses and pending payments.

When posting journal entries, corrections are allowed when charges are significant. The given answer, "

The correct answer is LE 001. This legal entity is responsible for collecting fees from regional entrepreneurs for the use of intellectual property.

The threshold for crosscharges is 10M USD. This means that any crosscharges below this amount will not be considered, while those exceeding or equal to 10M USD will be taken into account.

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The correct answer is "Firm Forecast" because the term "annual high-level (profit center) forecast" suggests a prediction or projection of the firm's financial performance for the upcoming year. This forecast is likely to include revenue, expenses, and profit expectations at a high level, focusing on the overall profitability of the firm. It helps in setting goals, making strategic decisions, and evaluating performance against the forecasted figures. The other options, such as "Firm Budget," "Current Budget," and "Planning," may be related to financial planning and budgeting processes but do not specifically pertain to the annual high-level forecast.

Planner Profiles pertain to a collection of planning layouts. A planner profile is a configuration setting that determines how planning layouts are organized and displayed in the planning area. It allows users to define different layouts for different planning scenarios, such as sales planning, production planning, or financial planning. By using planner profiles, users can easily switch between different planning layouts and access the relevant information for their specific planning needs.

The top node for SRAP in the Standard Hierarchy is CSTOP.

The initial cost center planning occurs in Version 999. This suggests that the planning for cost centers is done in a separate version, which is designated as Version 999. The other versions mentioned, such as Version 0, Version 1, and Version 4, do not specifically indicate that they are used for initial cost center planning.

The GCF Budget Coordinator is responsible for various tasks related to managing the budget, such as locking/unlocking the budget, verifying its accuracy, and copying it for reference or analysis. However, deleting the budget is not a task that falls under the purview of the Budget Coordinator. Deleting the budget could have significant consequences and should be handled by someone with appropriate authorization and responsibility.

The incorrect statement is "All SRAP expense accounts will be closed at noon on the first workday." This statement contradicts the previous statement that "Affiliate journals must be completed by noon on the first workday." If the SRAP expense accounts were closed at noon on the first workday, it would not be possible to complete the affiliate journals by that time. Therefore, this statement is incorrect.

The Legal Entity Owner is not involved in Global Cost Sharing. Global Cost Sharing typically involves the allocation of costs and expenses among different entities or departments within a multinational organization. The Billing Mechanism Owner is responsible for managing the billing process, Global Tax oversees the tax implications and compliance on a global scale, and Regional Tax handles tax matters specific to a particular region. However, the Legal Entity Owner is not directly involved in the cost-sharing process.

Both statements A and B are true about regional SRAP billing. The first statement mentions that SAFE company policy for calculation, booking, and paying of fees is followed. This means that the company has established specific guidelines and procedures that are adhered to when it comes to billing in regional SRAP. The second statement states that in most cases, neither local law nor contracts can override company policy. This implies that the company's policy takes precedence over any local laws or contractual agreements that may exist. Therefore, both statements A and B are true.

The correct answer is "The allocation model used for plan allocation to profit center is currently worksheet-based." This means that the planning process in SAP ends at the profit center level and the allocation model used for allocating plans to profit centers is currently based on worksheets.