| Almost One Word | A little more Complex | Final Stage |
|---|---|---|
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Selling, General & Administrative
What does SG&A stand for?
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ICA's are used for recovering funds from another IBM Intercompany entity which has agreed to pay for a particular Resources / Project / Travel etc.
Please explain how ICA's work
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"The 2017 plan has to be sent to the bill payers and they have to be aware of how much expense will flow into their accounts.
Contact the responsible parties that send us expense and validate it against our 2017 fall plan amount. Determine the Plan based on the Interlock performed on both sides, sending and receiving (ICAs, Allocations, JVs, etc.)"
How do you interlock during Fall Plan?
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General Employee Benefits
What does GEB Stand for?
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An accrual is done base on the total estimated compensation payment so it can be reflected / recognized monthly. When the actual payout from payroll comes, it has to be reversed as it had been previously been recognized through monthly accruals.
Please explain how Vacations, GDP, AIP, Retention Bonuses, etc work and are monthly reflected into the ledger.
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They have the purpose of allocating expense into different Cost Centers, they do it within each Ledger run until 4WD. In order to create / update them, we need to get in touch with accounting, account codes have to be valid and the total add up has to be 100%.
What is the purpose of an allocation table and how are they created / updated?
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Income & Expense (I&E)
In which Financial Statement would you find the Expense?
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Cost is assigned to the product's price and it can be directly measured, expense is not directly attached to the price for a particular product.
What is the difference between Cost & Expense? Please provide an example.
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It stands for Other Income & Deductions, it is in the 9xx majors, and it is used for IBM payable - receivables not related to Operations. i.e. Royalties, scrap, etc.
What does OID stand for, what major it is used and what kind of expense is booked in there?
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T420
What table helps to validate Major / Minor combination?
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Salaries (0100), Assignee Charges (0130), Bonuses (0140), Performance Bonus, GDP (0145), AIP (0146), Overtime (0150), Sales Commissions (0170), Awards (0191), Other Compensations (0195) & GEB (0200)
Mention 5 Compensation minors (Along with the minor number)
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Even when Sales Representative receive their payments monthly, in the Ledger it is only reflected at the end of the Quarter which is based off the total estimate for the Quarter. It is important to take into account for upcoming accruals the Over / Under for prior periods.
Explain how accrual for Sales Commissions works.
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6xx is for SG&A & 7xx is for Research, Development & Engineering
What is the difference between the 6xx & 7xx?
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Classify the different IBM branches / segments as per business needs, i.e. M&D, S&D, STG, SW, IBM Servicios Profesionales, IBM de México, etc.
What is the purpose of having different Ledger Codes?
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1H Actual + 2H Budget.
How would you calculate the baseline for Fall Plan?
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