SAP Financial Accounting (SAP FI) Practice Exam

What is the primary program used to open the next asset year for postings at the end of the current year?

1. Run fiscal year change

2. Execute year-end closing

3. Asset management initialization

4. Run fiscal year end reporting

The correct answer is: Run fiscal year change

The primary program used to open the next asset year for postings at the end of the current year is indeed to run the fiscal year change. This process is essential in asset management within SAP Financial Accounting, as it prepares the system for the new fiscal year's transactions by closing out the previous year’s activities and ensuring that all necessary adjustments have been made. When the fiscal year change is executed, it facilitates the transition of asset values and ensures that depreciation calculations are correctly set up for the upcoming year. It also helps in managing any pending transactions or adjustments that need to be recorded before moving on to the new year. This process is crucial for maintaining an accurate financial reporting and accounting structure in the SAP system, as it ensures all postings are reflected according to the designated fiscal periods. The other options address different aspects of year-end processes. Executing year-end closing may involve finalizing the financial results for the year, but it is not specifically tied to preparing the asset posting functions for the next fiscal year. Asset management initialization refers to setting up asset management structures but does not directly relate to the transition between fiscal years. Finally, running fiscal year-end reporting focuses on generating reports at year-end rather than changing the asset year itself. Therefore, the effective commencement of the new