SAP FICO Interview Questions and Answers Pdf

SAP Finance and Controlling (FICO) is the most broadly adopted SAP modules. SAP FICO module comprises SAP FI configuration, SAP CO configuration, SAP FI user and SAP CO user. Anyone seeing ahead of starting their profession as an SAP FICO consultant requires building a solid foundation including whole those features of SAP FI and CO module in Sap Training.

Certain SAP FICO online training Interview Questions have been composed especially to prepare you familiarized with the kind of questions you may face while your interview for the topic of SAP FICO. Since through our expertise great interviewers simply intend to ask any critical question during your interview, commonly questions begin with some fundamental concept of the subject and next they proceed based on the distant analysis and SAP FICO Training Videos.

Top 20 SAP FICO Interview Questions And Answers Pdf

Financial accounting and regulating are essential business fields, building a framework for every additional business enterprise. Tracing benefits, outgo and cash flow enable administration experts to give significant preparation choices concerning destiny. Locating the best accounting experts to work with your current SAP FICO system is important to keep your company operating easily SAP FICO Job Support Online. SAP has 6 fields in the center for FICO professionals, however, you can restrict your questioning to the best four to load maximum positions with Top 100 SAP FICO Interview Questions and Answers Pdf.

1. What Are Fi Validation Rules?
Answer: Validation rules (configured via transaction OB28) enforce certain conditions when FI postings are made.

Validation rules comprise:

• A prerequisite event that has to occur for the validation check to take place.
• The check itself.
• The output message that is to be displayed (you can choose between a warning or error message).

2. Explain The Purpose Of The Account Type Field In The Gl Master Record?
Answer: At year-end P&L accounts are cleared down to the retained earnings balance sheet account. This field contains an indicator which is linked (in the IMG transaction OB53) to the specific GL account use in this clear down.

3. What Is The Difference Between The Chart Of Account View And Company Code View When Maintaining A Gl Account?
Answer: There are two screens which have to be maintained for each new GL account. The first is at ‘chart of account’ level (transaction FSP0) and contains the information used by all company codes using this chart of accounts such as description, group account number, etc.

Each company code using this chart will then add its own company code view (via transaction code FSS0) which contains localized data specific to that entity e.g. field status group, alternative account number, etc.
The chart of accounts screen must be maintained before the local company code screens.

4. What Is A Sort Key And What Is It Used For?
Answer: Sort keys are saved in a client, vendor, and GL mentor documents. They define what purpose is populated in the ‘task’ field in the report line details posted.

1. There are many conventional approaches in a pre-delivered SAP system and further entries can be configured if needed.
2. A very popular application for sort key 014 Marketing Order number, for example, is to provide the GR/IR clearance GL account to be unblocked automatically.
3. For FI/CO jobs in a logistics environment, this is a basic question.

5. What Are Fiscal Year Variants And How Are Fiscal Periods Opened And Closed?
Answer: Fiscal year variants (FSV’s) are assigned to a company code via transaction OBY6. They determine the financial reporting periods of an entity e.g. 13 4-weekly periods, calendar months, 5-5-4 reporting, etc.

During month-end, the current financial reporting period will be and the next month opened. It’s possible to open and close specific ledgers e.g. AP, AR, GL and even sets of accounts within those ledgers. This way it’s possible to, for example, close all GL accounts and leave only the month-end adjustment accounts open for posting. 

6. What Are The Special Periods 13,14,15,16 And What Are They Used For?
Answer: During you determine the economic year alternative you can decide to set extra special limits. Those can be utilized for instance to the posting of year-end agreements, auditors adjustments, etc.
Periods 1-12 can be stopped and periods 13-16 left free for year-end closing.

7. What Are Recurring Entries And Why Are They Used?
Answer: Recurring entries (setup in FBD1 ) can eliminate the need for the manual posting of accounting documents which do not change from month to month.

8. Explain How Foreign Currency Revaluation Works In Sap R/3 Fi?
Answer: Over time the local money equivalent of international money amounts will vary according to exchange rate tendencies. Regularly, at month-end, there is a necessity to restate these sums practicing the current month-end exchange rates.

• SAP can revalue international currency GL account balances as well as prominent customer and vendor welcoming item steadiness.
• In SAP configuration, you determine the equilibrium sheet adjustment account and which accounts the apprehended gain/loss should be booked.
• A group input gathering is designed to automatically post the needed modifications.

9. Describe Three Ways Of Disposing Of An Asset From A Company Code In Sap R/3?
Answer: An existing asset can be scrapped (transaction ABAVN), transferred to another company code (ABUMN), sold to a customer account in the accounts receivable module (F-92), sold with revenue but the revenue is booked to a GL account (ABAON). 

10. What Are Account Assignment Models?
Answer: AAM’s are segments of text line parts that can be applied frequently to stop hand-operated re-entrance.
Which fields are included in the AAM layout can be configured using O7E3?

11. What Is A “value Field” In The Co-pa Module?
Answer: Value fields are number/value related fields in profitability analysis such as quantity, sales revenue, discount value, etc.

12. What Is A “characteristic Field” In The Co-pa Module?
Answer: Features are analytical data areas utilized in CO-PA. Standard examples incorporate customer number, brand, distribution channel, etc.

13. What Is The Difference Between “costing Based” (CB) And “account Based” (ab) Co-pa?
Answer: This is an incredibly popular question for any positions with a COPA component.

The interviewer will be looking for some of the following:

• AB can easily be reconciled with FI at account level through the use of cost elements. CB can only be reconciled at the account group level (such as revenues, sales deductions etc) as values are stored in “value fields” as opposed to accounts.
• In CB data is stored by posting periods and weeks. In AB storage is only by periods.
• In CB transactions can be stored in operating concern currency and company code currency. In AB transactions are stored in controlling area currency, company code currency, and transaction currency.
• In CB you can create cross controlling area evaluations or cross controlling area plans. In AB you cannot as the chart of accounts differ.
• In CB the cost of good sales (COGS) is updated via material price valuations. Stock change values can be transferred to CB COPA during billing. Timing differences can occur if the goods issue and billing documents are in different posting periods. In AB the value posted in the stock change is posted simultaneously to COPA.

14. What Is An Operating Concern And What Is Its Relationship With A Controlling Area In Co?
Answer: The serving concern is the chief organizational part of Profitability Analysis. Its construction depends on the configuration settings of attributes and purpose domains.

It is allocated to a governing area on a one to may base i.e. one managing section may be specified to only one working firm, one serving concern can be accredited to several managing fields.

15. What Are Statistical Internal Orders?
Answer: Statistical real internal orders are dummy cost objects used for analysis and reporting purposes. They must be posted to in conjunction with a real cost object such as a cost center.

For example for employees, we define statistical internal orders and for departments, we define cost centers. Travel expense invoices can then be booked to specific cost centers but the analysis can also be done at the employee level by looking at the statistical orders. Statistical internal orders cannot be settled.

16. Name Some Settlement Receivers For Co Internal Orders?
Answer: Typically CO Internal Order is settled to:

• Other internal orders.
• Fixed assets (including assets under constructions).
• GL Accounts.
• Cost Centres.

17. What Are The Performances Issue To Be In Mind When Configuring Profitability Analysis (Copa)?
Answer: Sometimes COPA reporting performance is severely affected by poor initial setup. Anyone involved in a full COPA project lifecycle in a retail or manufacturing environment will have come across such issues hence the reason the interviewer is asking the question. The most important thing. (Best Online Training Institute)

18. Explain Some Of The Controls Setup During The Configuration Of Internal Order Types In The Co Module?
Answer: The following settings are made during the configuration of order types (transaction KOT2_OPA)

• Number ranges assigned to the order master on creation.
• Planning and budgeting profiles.
• Status profiles.
• Order layouts.

19. What Is The Co Reconciliation Ledger And When Would You Typically Use It?
Answer: The reconciliation ledger effectively highlights differences by account across the FI and CO modules. A report is produced by the RL program, identifying where transactions have been booked across entities in controlling that would impact the external reporting produced from the FI module.

The RL program can then either post automatic corrections or you can choose to post manual corrections based on the information in the RL report.

20. What Are Statistical Key Figures In Co?
Answer: SKF’s are statistical (or information values) used in cost allocations such as assessments and distributions.
For example, we may have an SKF for ‘headcount per department’. When utility costs are allocated across various departments we could perform the percentage allocation based on the ‘headcount’ SKF.

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