SAP Financial Accounting (SAP FI) Practice Exam

Which assumption is necessary to implement fixed assets in SAP?

1. A company code has been created with a chart of accounts

2. An external auditor is required

3. All users must be trained before implementation

4. Fixed asset values are predetermined

The correct answer is: A company code has been created with a chart of accounts

To implement fixed assets in SAP, the establishment of a company code that is associated with a chart of accounts is essential. The company code serves as the organizational unit in SAP for financial accounting purposes and is crucial for managing financial transactions, including fixed assets. A chart of accounts provides the necessary framework for categorizing and managing financial data; it defines the general ledger accounts used by the company code. Without these foundational structures in place, the system would lack the means to accurately track asset values, depreciation, and financial reporting related to fixed assets. On the other hand, while training all users is beneficial for effective system utilization, it is not a prerequisite for implementation. Similarly, the involvement of an external auditor, while important for financial oversight, is not specifically necessary for the implementation process. Lastly, fixed asset values may need to be periodically determined or revised based on various factors, including appraisals and depreciation methods, which makes the notion that they are predetermined a limited view of asset valuation. Therefore, the requirement for a company code with a chart of accounts stands out as the fundamental assumption necessary for effective fixed asset management in SAP.