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Top 15 SAP FICO Interview Questions And Answers Pdf
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1. What Is An “asset Under Construction”?
Answer: AuC can be used to track investment cost during projects or asset assembly. Following completion, their costs can be settled to other fixed assets or to other CO cost objects such as real internal orders or cost centers.
For example, the construction of a new building, the various costs involved (engineering, utility cost etc) could be collected under an AUC, before being settled to an asset under the ‘buildings’ asset class at the end of the project.
AUC’s generally are not depreciated until completion.
2. How Do You Take The Balances Onto Fixed Asset Reconciliation Accounts During Data Take-on?
Answer: Normally you cannot post directly to reconciliation accounts. However, there is a configuration transaction OAK5/ OAMK which can be used to temporarily remove the reconciliation flags to allow the balances to be journaled onto the fixed asset reconciliation accounts.
3. Name Three Ways Of Posting Acquisition Cost To A Fixed Asset Master?
Answer: There are many ways of booking APC to fixed asset records including:
- Via F-90 – Acquisition with Vendor.
- ABZON – Acquisition with automatic offsetting entry.
- ABZP – from an affiliated company.
- From the settlement of an asset under construction (AIBU).
- From goods receipt (or invoice receipt depending on system setup) relating to a purchase order.
4. What Is The Difference Between ‘company Code’ And ‘company Id’ When In The Fi Global Settings In The Img?
Answer: The company code is the legal entity organization unit and the lowest level at which external financial statements are prepared.
The company id is a higher organization unit used for consolidation in the SAP system. A single company id can have many company codes assigned to it so long as the fiscal year variant and chart of accounts are consistent.
5. What Is A ‘financial Statement Version’?
Answer: Financial statement versions FSV’s are the frames forming the P’L and Balance sheet records of the FI module.
Accounts are committed to the ending nodes in the describing structure tree. Depending on the service debit /credit balances can be indicated in various asset/liability columns where needed.
6. How Do You Define A New Company Code?
Answer: Using transaction code EC01, the most straightforward way of creating a new company code is to copy an existing value.
All associated data such as the fiscal year variant and assignments to controlling area and credit control area are taken across from the source value.
Transactional data, of course, is not copied. Here, interviewers are simply looking to hear the word “copy” to prove that you have defined an SAP FI/CO organizational structure before.
7. What Is Stored In Table T001?
Answer: This is the main company code configuration table and includes such assignments as:
- Fiscal year variant.
- Company assignment.
- Local currency setting.
- Credit control area.
8. What Is A Company Code? Describe Its Relationship With A Controlling Area?
Answer: A company code represents a specific legal entity for financial reporting purposes and represents the lowest level at which external financial accounts can be produced.
It’s the main organizational object in the FI module and is assigned to a controlling area in CO. One company code may only be assigned to a single controlling area. (A controlling area may have multiple company codes assigned to it). (Interview Questions and Answers)
9. What Are ‘commitment’ Line Items In Co?
Answer: Commitment line items in CO are not actual cost items but rather committed expenditure items generated through purchase orders.
10. When Defining A New Ledger In The Special Purpose Ledger, How Can You Retrospectively Populate Fi Data For A Previous Fiscal Year?
Answer: Using SAP transaction GCU1, FI data can be transferred for a particular company code, fiscal year or specific document number range.
A similar transaction exists for controlling data, GCU3.
11. What Is The Special Purpose Ledger And What Would Be Some Reasons For Using It?
Answer: The SPL is a user-defined ledger which can be built to support reporting requirements which cannot normally be met through the usual SAP modules.
You can pull information from many SAP modules such as FI, CO, MM, SD and build user-defined fields whose contents are based on calculations from other SAP standard information.
Typical uses include:
- Reporting using an alternative fiscal year variant other than the one assigned to the entity.
- Reporting in a different currency (maybe to meet a new head office reporting currency).
- Meeting USGaap and local reporting requirements.
12. Explain The Purpose Of The Following Sap R/3 Fi Tables: Big, Bkpf, Glt0?
Answer: BKPF is the document header table. It stores all the fields common to all of the document line items such as posting date, currency key, document number, etc.
BSEG is the associated line item table to BKPF. Specific line item information such as posting key, GL account, document amount are stored.
GLT0 is the summarized account balances table showing account balances by period, by account, by fiscal year.
13. Explain The Purpose Of The Following Sap R/3 Co Tables: Corp, Cska, Ce1xxxx?
Answer: COEP is the CO object line item table.
CSKA is the cost element master table (dependant on the chart of accounts).
CE1xxxx (where XXXX is the name of your operating concern) is the profitability analysis line item table.
14. What Is The Legacy System Migration Workbench (lsmw) And When Would You Use It In Your Sap Fi/co Rollout?
Answer: LSMW is a technical tool used for migrating master data and transaction data from your old ‘legacy’ systems to SAP.
Though usually set up by your ABAP programming colleagues, the LSMW projects are usually run by FI/CO project team members in order to upload vendors, customers, cost centers, internal orders, etc.
15. What Are User Exits And Name An Example Where One Could Be Used In The Fi/co Modules?
Answer: User exits are SAP supplied ‘hooks’ within a specific program which allow user customizations to meet specific requirements.
When the program is run, SAP checks to see if the user has set up any logic within these hooks.
For example, in the fixed asset module lets say the gain/loss from disposal is normally booked to GL account 65410. During posting however you wish to book certain asset retirement transaction types to 65499 for reporting purposes. An enhancement AINT0002 exists to do this.
User exits are commonly used also with validation and substitution rules.
To implement user exist you need an understanding of the ABAP programming language. However, for those who have worked across several SAP projects its inevitable that at some point they will have come across user exits at some stage even if it’s just at a conceptual level.