October 2024

When accrual must be used in the following situations?

• When goods/services are not received yet, but it will be very soon
• When the value is not material
• When the documentation is reliable and authorized according to received good/service

For non-SAP related accruals who must authorize and confirm the accuracy of the accrual?

• Any clerk from controlling team
• Country/regional or division finance manager
• Chief Accountant

Accruals must be posted when the probability of an event occurring as a percentage?

• 70%

• 50%

• 90%

Who is responsible for opening a new bank account?

• GL accountant
• Regional Treasury Operations Team
• Controlling

What are Non-Preferred Banks?

• Banks that meet minimum credit ratingcriteria and ability to sweep cash balancesto a preferred bank
• Banks with low trust rating
• Banks with limited number of services

3M's global payment design requires all payments initiated by?

• Bank portal
• Special treasury software
• SAP

What is reporting Currency?

• Currency used to present The Statement of Financial Position
• Currency used to present consolidated financial statements
• Currency used to present The Profit and Loss Statement

Gains and losses on exchange transaction is recorded in the Profit and Loss Statement on which item?

• Profit before tax
• Cost of Goods Sold
• Expenses

What is functional currency?

• Foreign Currency in which entity did transaction
• The currency of the primary economic environment in which the entity operates
• Currency in which most transactions are settled

Does 3M Global Capital (the Eurobank) maintain cashpools in various currencies?

• No
• Yes
• Yes, but onlny in specified countries (regions)