Sap Fico Interview Questions For Freshers
SAP FICO Interview Questions for Entry-Level Candidates
SAP FICO stands for Finance and Controlling and it is one of the most sought after modules in SAP. As a fresher, it is important to be well prepared for the interview in order to secure a job in this field. Some common interview questions for SAP FICO may include topics related to financial accounting, general ledger, accounts payable and receivable, asset accounting, controlling, integration with other modules, and real-time project scenarios. It is important to have a strong understanding of these concepts and be able to articulate your knowledge and skills effectively during the interview. Being familiar with the latest developments and updates in SAP FICO will also give you an edge in the interview process.
To Download Our Brochure: https://www.justacademy.co/download-brochure-for-free
Message us for more information: +91 9987184296
questions
1 - Can you explain the concept of a company code in SAP FICO?
A company code is a unique entity in SAP that represents an independent legal entity within an organization. It is responsible for managing and tracking the financial transactions of that particular entity. A company code has its own chart of accounts, fiscal year, currency, and other organizational and accounting settings.
2 - What is the significance of a chart of accounts in SAP FICO?
A chart of accounts is a list of all the general ledger accounts used in an organization. It defines the structure and numbering system for these accounts and provides the basis for recording financial transactions. It also helps in determining the level of detail in financial reports.
3 - How do you create a vendor master record in SAP?
To create a vendor master record, you can go to the transaction code XK01 and enter the required details such as vendor name, address, payment terms, bank details, etc. Once the record is saved, a vendor number is generated, which can be used for all future transactions with that vendor.
4 - What is the difference between a statistical and a real posting in SAP FICO?
A statistical posting is a non-monetary transaction that is used for information and statistical purposes, such as recording depreciation. A real posting, on the other hand, has a monetary value and is used to record actual financial transactions.
5 - Can you explain the posting key in SAP FICO?
The posting key is a two-digit code that determines the type of transaction, whether it is a debit or credit, and the account to be posted. It is assigned to each line item in a journal entry and helps in automating the posting process.
6 - How do you define a fiscal year in SAP FICO?
A fiscal year in SAP can be defined using transaction code OB29. It specifies the start and end date of the financial year, the number of posting periods, and the posting period variant. The year-end closing process is also based on the fiscal year settings.
7 - What are the different types of depreciation methods in SAP FICO?
The different types of depreciation methods in SAP FICO include straight-line, declining balance, unit of production, and manual methods. Each method has its own calculation logic and is used based on the organization's requirements.
8 - How do you post a recurring entry in SAP FICO?
To post a recurring entry, you can use transaction code FBD1 and enter the required details such as the posting date, account, amount, and frequency of the entry. The entry will then be posted automatically on the specified dates.
9 - What is an SAP FICO module and its components?
The SAP FICO module is responsible for financial accounting and controlling processes in an organization. Its main components include general ledger, accounts payable, accounts receivable, asset accounting, cost center accounting, and profitability analysis.
10 - How do you carry out a currency translation in SAP FICO?
To Download Our Brochure: Click Here
Message us for more information: +91 9987184296
Currency translation in SAP FICO is used to convert financial data from one currency to another for reporting purposes. It can be done using the transaction code OB08, where you can specify the exchange rate type, date, and amount to be translated.
11 - Can you explain the concept of a payment term and how it is configured in SAP FICO?
A payment term is a contractual agreement between a buyer and a vendor that specifies the payment terms for goods and services. In SAP FICO, it is configured using transaction code OBB8, where you can define the number of days or the percentage of the invoice amount that is due for payment.
12 - How do you create a cost center in SAP FICO?
To create a cost center, you can use transaction code KS01 and enter the necessary details such as the cost center name, description, and controlling area. You can also specify the cost center category and the person responsible for the cost center.
13 - What is the difference between a company and a company code in SAP FICO?
A company is a legal entity that represents the highest level of organizational structure in SAP, while a company code is a part of the company responsible for managing and tracking financial transactions. A company can have multiple company codes, but a company code can only belong to one company.
14 - How do you perform credit management in SAP FICO?
Credit management in SAP FICO is used to monitor and control the credit limit of customers and vendors. It can be configured using transaction code OVA8, where you can define credit control areas, assign customers or vendors to credit segments, and set credit limits.
15 - What is the purpose of a profit center in SAP FICO?
A profit center is a part of an organization that is responsible for generating profit. It helps in tracking the financial performance of a specific area or business segment and is used for internal reporting and analysis. Profit centers can be created using transaction code KE51.
Browse our course links : https://www.justacademy.co/all-courses
To Join our FREE DEMO Session: Click Here
Contact Us for more info:
- Message us on Whatsapp: +91 9987184296
- Email id: info@justacademy.co
