The following SAP FICO Interview Questions have been uniquely designed to make you familiarized with the questions you may face during your interview for
SAP FICO. As per the experience
Multisoft systems’ industry trainers, interviewers hardly ask any specific question during your interview, normally questions begins with some basic concept of the subject and thereafter they continue based on further discussion and what you answer. Here are some important questions and answers that will surely help you in your interview.
- Explain the term SAP FICO?
SAP FICO stands for SAP Finance and Controlling is module that is used for accounting processes internally as well as externally. It is a module of SAP processes where financial transactions are incorporated with several parallel SAP modules for better outputs. It offers highly complex methods of financial transaction reporting and better handling of accounts.
- What are the other modules to which ‘Financial Accounting’ is integrated?
The other modules to which ‘Financial Accounting’ is integrated are:
- Sales and Distribution
- Production Planning
- Human Resource
- Material Management
- Controlling of financial transaction
- What are correspondence types in AR/AP?
The different outputs which can be printed and delivered to your business associates based on either customer or General Ledger information is known as Correspondence types. Some of the popular correspondence types are:
- Customer statements
- Line items lists
- Payment notices
At the end of the working day these can be printed together as a batch and sent out.
- How the system identifies a ‘Posting Period’?
The system identifies a posting period by checking the document date and the year based on the posting date entered into the system while posting a document. However, for this, you should have properly defined the fiscal year variant.
- What is a ‘Posting Period Variant?
To maintain accounting periods that are open for posting and all closed period are balanced, SAP FI Posting period variant is used. It is used for opening and closing period in the fiscal year. You can allot these posting periods to one or more company codes.
- Explain the document currency (WRBTR) and local currency fields (DMBTR) when posting a document in SAP FI.
The currency key is entered on the document header. If this is different from the local currency, the systems automatically calculate a same amount of local currency and stored it. However, it is possible to overwrite the proposed value of the system in this field manually.
If the local currency is manually overwritten and the difference between the implied exchange rate is different to the rate used by the system, a warning is displayed on the system.
- What is a field status group?
Field status groups are used to control the fields which occur when transaction is done by user. In FIGL (Financial General Ledger) master, the field status group is stored.
- Exchange Rate Types- What are exchange rate “types” in SAP?
Exchange rate types are used to identify exchange rates used for various purposes at the same time in the system. Existing entries must not be deleted. To calculate local currency in the SAP system, exchange rate type “M” is used by default.
- For a Company Code how many currencies can be configured?
For a company code, there are three currencies that can be configured, one is a local currency and two are the parallel currencies.
- What is the difference between Profitability analysis and Profit center accounting?
| Profitability analysis |
Profit center accounting |
| It provides your sales, marketing, planning and management organizations with decision support from a market oriented viewpoint. |
Profit center accounting lets you analyze profit and loss for profit centers. It makes it possible to evaluate different areas or units within your company |
| It enables you analyze the profitability of segments of your market according to:
v Products
v Regions
v Customers
v Divisions
|
Profit center accounting can be structured according to:
v Region
v Functions
v Plants
v Products (product ranges)
|
| |
|
- Explain the organizational assignment in the controlling module?
Company codes are allocated to the controlling area. A Controlling Area is allocated to the operating concern.
- Controlling Area is the zone where all controlling activities of Cost Center Accounting, Profitability Analysis, Product costing and Profit Center are stored.
- In Profitability Analysis, Operating Concern is the highest node.
- What are the options in SAP for Fiscal years?
The way in which financial data is kept in the system is known as Fiscal year in SAP. There are 12 periods and 4 special periods in SAP. These periods are stored in Fiscal year that is:
- Calendar Year: From Jan-Dec, April-March
- Year dependent fiscal year
- In SAP what is the use of FSV?
FSV stands for Financial Statement Version is a reporting tool which is used to remove final accounts from SAP like Profit & Loss Account and Balance Sheet. The several FSV’s can be used for making the output of numerous external agencies like Banks and other authorities.
- Explain what is posting key and what does it control?
Posting key is a two digit numerical used to get the transaction type entered in the line item. Posting key control the followings:
- Account Types
- Field status of transaction
- Types of posting. Debit or Credit
- What is FI-GL (Financial- General Ledger) Accounting does?
General Ledger accounting is used to get an outline of external accountings and accounts. It is used to record all the business transactions along with all other operational areas. Moreover, it also ensures the completion and accuracy of the accounting data.