C_TS4FI Financial Accounting Practice Question
A financial accountant is analyzing a financial statement using the SAP S/4HANA Universal Journal. The accountant notices that the balance sheet and profit and loss statement show different amounts for the same G/L account. What is the most likely cause for this discrepancy?
⚠ Common exam trap
The trap here is assuming that account type or fiscal year variant causes the difference, when the real driver is the financial statement version assignment.
Answer choices
Why each option matters
Answer the question above first, then reveal the full breakdown to understand why each option is right or wrong.
Correct answer & explanation
✓
The financial statement version used for the balance sheet includes the account, but the version for the P&L excludes it.
The discrepancy arises because financial statement versions (FSVs) control which accounts appear in which reports. If the balance sheet FSV includes the account and the P&L FSV does not, or they assign it to different nodes, the reported figures will differ. Ensuring consistent FSV configuration is essential for accurate financial reporting.
Answer analysis
Option-by-option breakdown
For each option: why learners choose it and why it is or isn't the right answer here.
- ✗
The account is a reconciliation account, so it only appears in the balance sheet.
Why it's wrong here
Reconciliation accounts are typically balance sheet accounts and do not appear in the P&L. However, if the accountant is comparing the same account in both statements, it suggests the account is included in both FSVs. A reconciliation account would not be in the P&L FSV at all, so this does not explain differing amounts for the same account.
- ✓
The financial statement version used for the balance sheet includes the account, but the version for the P&L excludes it.
Why this is correct
Financial statement versions (FSVs) define the structure of financial reports. If the same G/L account is assigned to different nodes in the balance sheet FSV and the P&L FSV, or if it is included in one but not the other, the reported amounts will differ. This is a common configuration issue when FSVs are not aligned.
- ✗
The G/L account is configured with a different fiscal year variant than the company code.
Why it's wrong here
The fiscal year variant is defined at company code level and applies to all accounts. An account cannot have a different fiscal year variant. Therefore, this cannot cause a discrepancy between balance sheet and P&L amounts. The issue likely relates to account type or reporting settings.
- ✗
The G/L account is a balance sheet account, but it was also posted with a profit and loss account type in the master record.
Why it's wrong here
The account type in the master record determines whether the account is a balance sheet or P&L account. It cannot be both. If the account type is incorrectly set, it would affect all reports consistently, not cause different amounts in balance sheet and P&L. Thus, this is not the cause.
About these practice questions
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JA
Written and reviewed by Johnson Ajibi, MSc IT Security
Senior Network & Security Engineer · founder of Courseiva
Last reviewed September 2026 · checked against the official SAP exam blueprint
This C_TS4FI practice question is part of Courseiva's free SAP certification practice question bank. Courseiva provides original exam-style practice questions with explanations, topic-based practice, mock exams, readiness tracking, and study analytics to help learners prepare for the C_TS4FI exam.