Anybody please define Asset Accounting? significance and
procedures.
Answer Posted / enthusiasm
Asset Accounting is used for Accounting of Fixed Assets in
an organisation.
Significance of asset accounting lies broadly in the
following areas
1. It follows Subsidary Ledger Concept
2. It allows categorisation of Assets as
a. Self Built
b. Purchased
3. Depriciation posting is automated.
4. Has incorporated features that help in better reporting
of Fixed Assets.
Procedure:
1.The most important procedure in Asset Accounting is
mapping the Subsidary Asset Account Number to the
Corresponding General Ledger Account and thereby enabling
automatic updation at any point of time.
2.Planned Depriciation Runs must be run to make Depn
postings.
Is This Answer Correct ? | 7 Yes | 1 No |
Post New Answer View All Answers
What is an allocation structure? : co- cost center accounting
Hi, sap gurus can anybody send me the shot cut configuration & fico tickets for the same? 1. App, 2. asset accounting, 3. integration fi with sd & mm regards, janardhana rao email: pjanardhan80@gmail.com
Why is preliminary cost estimate required?
What are the components in financial statement version? : cost center accounting
Explain the term sap fico?
What does field status group assigned to a gl master record controls? : fi- general ledger
Hi, Here is an interview question. What are errors we will face in FI-MM, FI-SD, COPA integration. How u will solve. Sravan
How the system identifies a ‘posting period’?
Explain the most common g/l reports in fi?
Explain controlling (co) in sap? : co- general controlling
Explain a sales cycle in sap? : fi- accounts receivable
Pls send me some tickets and answerw purpose of interview?
What is group asset in sap? When you will use this? : fi- asset accounting
What is profitability analysis (co-pa)? : co- general controlling
What are the common reasons for errors in accounting?