Top 50 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 to 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 Learn SAP FICO Online.

SAP FICO Interview Questions And Answers

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  Training Videos 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 50 SAP FICO Interview Questions and Answers Pdf.

1. What Is Pf-status?
Answer: Pf status is used in the interactive report for enhancing the functionality. If we go to se41, we can get menus, items and different function keys, which we are using for the secondary list in an interactive report.

2. How Are Scrap Variances Calculated?
Answer: Scrap variance is calculated by evaluating the scrap quantities with the amount of the actual costs less the planned scrap costs.

3. How Are Scrap Costs Shows In The Standard Cost Estimate?
Answer: Scrap costs are assigned to the relevant cost component and can be shown separately for material in the costed multilevel BOM.

4. What Do You Mean By Assembly Scrap And How Is It Maintained In Sap?
Answer: Assembly scrap is the scrap that is expected to occur during the production of a material which is used as an assembly. If a certain amount of scrap always occurs during the production of an assembly, the quantities and activities used must be increased by the system so that the required lot size can be produced. To increase the lot size of an assembly you can enter a percentage, flat rate assembly scrap in the MRP 1 view of the material master record. This assembly scrap is reflected in all the subordinate components. The system increases the quantity to be produced by the calculated scrap quantity. This increases both the materials consumed and the activities consumed and consequently the cost.

5. How Do You Configure That The Results Of The Standard Cost Estimate Are Updated In Other Fields Other Than The Standard Price?
Answer: The price update in the material master is defined in Costing type. This costing type is attached to the costing variant.

6. Is It Possible To Update The Results Of The Standard Cost Estimate To Other Fields Such As Commercial Price, Tax Price Fields In The Accounting View?
Answer: Yes. It is possible to update the standard cost estimate to other fields such as commercial price etc. in accounting view.

7. What Is The Meaning Of Preliminary Cost Estimate For Product Cost Collector?
Answer: Preliminary costing in the product cost by period component calculates the costs for the product cost collector. In repetitive manufacturing, you can create a cost estimate for the specific product version.

8. What Is The Difference Between A Product Cost Collector And Production Order?
Answer: Both of these are cost objects which collect production costs for a manufactured product. Product cost collector is a single order created for a material. All the costs during the month for that material is debited to single product cost collector. No costing by lot size is required in case of product cost collector.

The latter is where there are many production orders for a single material during the month. Costs are collected on each of this production order. Costing by lot size is the main requirement in case of production orders.

9. Is It Possible To Calculate Standard Cost Estimate For A Past Date?
Answer: No. It is not possible to calculate the standard cost estimate for a past date.

10. How Do You Get About Defining Co-product Functionality In Repetitive Manufacturing?
Answer: In the Repetitive manufacturing you need to use the Costing BOM for the other co-product. Through arithmetical calculation, you need to maintain the quantities in the costing BOM. This co-product will be shown as a negative item in the leading co-product.

11. Is It Possible To Use Standard Sap Co-product Functionality In Repetitive Manufacturing?
Answer: No. It is not possible to use the Standard Co-product functionality in repetitive manufacturing.

12. How Do You Define A Co-product In Sap?
Answer: A Co-product (primary product or by-product) is indicated by a tick in the costing view of the material master. In the BOM all the primary products are represented as an item with a negative quantity. A primary product is also indicated as a co-product in the BOM of the leading coproduct. For primary products, the costs are calculated using the apportionment method, while for by-products the net realizable value method applies.

13. How Do You Calculate The Cost For A By-product In Sap?
Answer: The cost of the By-product is the net realizable value. This is manually maintained in the system for the by-product through transaction code MR21 Price change.

14. There Are Result Analysis Categories In Wip (work In Process). What Do You Mean By The Result Analysis Category Reserves For Unrealized Costs?
Answer: If you are calculating the work in process at actual costs, the system will create reserves for unrealized costs if the credit for the production order based on goods receipts is greater than the debit of the order with actual costs incurred. The Result analysis category RUCR (Reserves for unrealized cost) would need to be maintained. Normally this is not maintained in most of the companies.

15. Let’s Say For A Product There Exists Three Production Versions. Explain The Process How You Would Go About Creating A Mixed Cost Estimate?
Answer: The process of creating a mixed cost estimate would be as follows:

  • Create appropriation choices for all of the production version.
  • Define Mixing proportions to the appropriation choices.
  • Choose the configured quantity structure type and execute a matter cost assessment based on the costing version.

16. What Configuration Needs To Done For Using Mixed Costing?
Answer: Quantity Structure type for mixed costing must be configured. Here we specify the time dependency of the structure type. The following options exist

  • You have no time dependency
  • It is based on a fiscal year
  • It is based on the period

This quantity structure type is then assigned to the costing version.

17. How Do Primary Costs Get Picked Up From Cost Center Into The Cost Component Structure?
Answer: This is possible when you do a planned activity price calculation from SAP. The primary cost component structure is assigned to the plan version 0 in Controlling.

18. How Does Sap Go About Costing A Product Having Multiple Bill Of Materials Within It?
Answer: SAP first costs the lowest level product, arrives at the cost and then goes and cost the next highest level and finally arrives at the cost of the final product.

19. How Can You Default Certain Items While Creation Of Internal Order Master Data?
Answer: You can do so by creating a model order and then update the fields which you want to default in this model order. Finally, attach this model order in the internal order type in the field reference order. Once the above is done whenever you create an internal order for this order type the field entries will get copied from the model order.

20. You Want To Revalue The Production Orders Using Actual Activity Prices. Is There Any Configuration Setting?
Answer: Yes. There is a configuration setting to be done.

21. Where Is The Configuration Setting To Be Done For Carrying Out Revaluation Of Planned Activity Prices In Various Cost Objects?
Answer: The configuration setting is to be done in the cost center accounting version maintenance for the fiscal year. This has to be maintained for version 0. You need to select the revalue option either using own business transaction or original business transaction.

22. Explain The Process Of Calculating The Planned Activity Output Through Long Term Planning?
Answer: In Long-term preparation method the designed production deals are registered for the devising year in a selective scenario. Long-term planning is performed for the situation. That produces the proposed activity bases using the activity measures from the routing and increasing with the proposed production. The activity requirements are then carried to the controlling module as scheduled activity quantities. Consequently, you perform a plan activity rapprochement which will reconcile the scheduled activity and the exercise you have prepared manually. The rapprochement program refreshes the scheduled activity pack as the proposed activity in the regulating module.

23. Is It Possible To Calculate The Planned Activity Output Through System?
Answer: Yes. It is reasonable to estimate the proposed activity yield via the system by doing a Long-term Devising method in the PP module (Interview Questions and Answers)

24. What Is Required To Be Done If Activity Price Is To Be Shown Both Fixed And Variable?
Answer: In this case, you need to plan both activity independent cost which are shown as fixed costs and activity-dependent costs which are shown as variable costs.

25. What Is The Difference Between Distribution And Assessment?
Answer: Distribution uses the original cost element for allocating cost to the sender cost center. Thus on the receiving cost center, we can see the original cost element from the sender cost center. Distribution only allocates primary cost.

The assessment uses assessment cost element No 43 defined above to allocate cost. Thus various costs are summarized under a single assessment cost element. In receiver cost center the original cost breakup from the sender is not available. Assessment allocates both primary as well as secondary cost.

26. What Is A Cost Center Group?
Answer: In a similar line the cost center group is also a group of cost centers which help one to track and control the cost of a department more effectively. You can make as many numbers of cost centers as you feel necessary by combining various logical cost centers In fact you can use various combinations of cost center group by the price component gathering to trace and manage your expenses per section or across agencies.

27. What Is A Cost Element Group?
Answer: Cost element group is nothing but a group of cost elements which help one to track and control cost more effectively. You can create multiple numbers of charge component groups that you think needed by joining different probable cost elements.

28. How Is Cost Center Accounting Related To Profit Center?
Answer: In the master data of the Cost Center there is a provision to enter the profit center. This way all costs which flow to the cost center are also captured in the profit center.

Cost centers are basically created to capture costs e.g. admin cost center, canteen cost center, etc.

Profit centers are created to capture cost and revenue for a particular plant, business unit or product line.

29. Explain The Organizational Assignment In The Controlling Module?
Answer: Company codes are assigned to the controlling area. A controlling area is assigned to the operating concern. Controlling Area is the umbrella under which all governing actions of Cost Center Accounting, Stock costing, Profitability Analysis, and Profit Center are saved. Working Concern is the longest node in Profitability Analysis

30. What Is A Account Group And Where Is It Used?
Answer: An Account group controls the data that needs to be entered at the time of the creation of a master record. Account groups exist for the definition of a GL account, Vendor and Customer master. It basically controls the fields which pop up during master data creation in SAP.

31. What Is The Purpose Of A “document Type” In Sap?
Answer: A Document type is specified at the Header level during transaction entry and serves the following purposes:

  • It defines the Number range for documents.
  • It controls the type of accounts that can be posted to eg Assets, Vendor, Customer, Normal GL account.
  • Document type to be used for reversal of entries.
  • Whether it can be used only for Batch input sessions.

Document Type is created for differentiating business transactions. Eg Vendor Invoice, Credit Memo, Accrual Entries, Customer Invoice. It is a two-digit character.

32. What Is A Financial Statement Version?
Answer: A FSV (Financial Statement Version) is a reporting tool and can be used to depict the manner in which the financial accounts like Profit and Loss Account and Balance Sheet needs to be extracted from SAP. It is freely definable and multiple FSV’s can be defined for generating the output for various external agencies like Banks and other Statutory authorities.

33. How Are Input And Output Taxes Taken Care Of In Sap?
Answer: A tax mode is determined to each nation and tax keys are set inside this. There is versatility to both expenses outward the Tax prices or Capitalize the corresponding to Stocks.

34. What Are Validations And Substitutions?
Answer: Validations/Substitutions in SAP are defined for each functional area e.g. FI-GL, Assets, Controlling etc at the following levels

  1. Document-level
  2. Line item level

These need to be specifically activated and setting them up are complex and done only when it is really needed. Often help of the technical team is taken to do that.

35. Is It Possible To Maintain Plant Wise Different Gl Codes?
Answer: Certainly. To be responsible to make so the estimate assembly code should be initiated. The estimate grouping code is managed per plant and is configured in the MM module. Account codes should be kept per estimate grouping code behind making this configuration.

36. Is Business Area At Company Code Level?
Answer: No. The business area is at the client level. What this means is that other company codes can also post to the same business area.

37. What Are The Problems Faced When A Business Area Is Configured?
Answer: The problem of the splitting of the account balance is more pertinent in case of tax accounts.

38. Which Is The Default Exchange Rate Type Which Is Picked Up For All Sap Transactions?
Answer: The default exchange rate type picked up for all SAP transactions is M (average rate).

39. Is It Possible To Configure The System To Pick Up A Different Exchange Rate Type For A Particular Transaction?
Answer: Yes it is possible. In the document type definition of GL, you need to attach a different exchange rate type.

40. What Are The Master Data Pre-requisites For Document Clearing?
Answer: The Gl Account must be managed as ‘open item management’ . This checkbox is there in the General Ledger Master Record called Open Item Management. It helps you to manage your accounts in terms of cleared and uncleared items. A typical example would be GR/IR Account in SAP (Goods Received/Invoice Received Account). 

41. How Many Numbers Of Line Items In One Single Entry You Can Have?
Answer: The number of line items in one document you can accommodate is 999 lines.

42. A Finance Document Usually Has An Assignment Field. This Field Automatically Gets Populated During Data Entry. Where Does It Get Its Value?
Answer: This value comes from the Sort key entered in the Gl master record.

43. How Do You Maintain The Number Range In Production Environment? Do You Directly Create It In The Production Box Or Do You Do It By Means Of Transport?
Answer:Number range is to be created in the production client. You can carry it further by process of a request still formulating in the production client is abundant desirable.

44. In Customizing “company Code Productive” Means What? What Does It Denote?
Answer: Once the company code is live(real-time transactions have started) this checkbox helps prevents deletion of many programs accidentally. This checkbox is activated just before go-live.

45. What Is Done By Gr/or Regrouping Program?
Answer: The equilibrium in a GR/IR report is essential because of 2 chief kinds of activities:

Goods released still invoice not accepted: Here the Goods receipt is done just no invoice has still been received from the sender. In such a situation GR/IR account will have a credit perspective.

Invoiced accepted but goods not addressed: Here the Invoice is obtained from the vendor and considered for, really goods have not been received. In such a synopsis GR/IR account will have a debit balance. The GR/IR account would include the exclusive value of the over two types of transactions. The GR/IR regrouping program investigations the above transactions and regroups them to the right compensation account. The stability on account of first transactions will be regrouped to another obligation account and the balance on account of second transactions will be regrouped to an asset account. What Is Done By Gr/or Regrouping Program?

46. What Are The Functionalities Available In The Financial Statement Version?
Answer: In the financial statement version the most important functionality available in the debit credit shift. This is more important in case of Bank overdraft accounts which can have a debit balance or a credit balance. Thus in case of a debit balance, you would require the overdraft account to be shown on the Asset side. In case of credit balance, you would require the account to be shown on the Liability side.

47. Is It Possible To Print The Financial Statement Version On A Sapscript Form?
Answer: Yes. It is possible to print the financial statement version on a SAPscript form.

48. Is It Possible To Generate A Financial Statement Form Automatically?
Answer: Yes. It is possible to generate a form automatically.

49. Is It Possible To Keep The Fi Posting Period Open Only For Certain Gl Codes?
Answer: Yes. It is possible to keep open the FI posting period only for certain GL codes.

50. How Do You Keep The Fi Posting Period Open Only For Certain Gl Codes?
Answer: In transaction code OB52 click on new entries and maintain an interval or a single GL code for the account type S with the posting period variant. If the GL codes are not in sequence then you need to maintain further entries for the posting period variant and account type S.

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