Tuesday, September 25, 2018

Introductions

SAP FICO Interview questions below are some SAP FICO Interview Questions & Answers for Experienced & Freshers, you are at right place. There are a lot of possibilities for many reputed organizations in the world. Vintage IT Solutions offers advanced SAP FICO Interview Questions 2018 that helps you in cracking your interview & acquire dream career as SAP FICO Developer.

SAP FICO Interview Questions and Answers Article-1


Q- What is SAP FICO?
A- SAP FICO, FI stands for Financial Accounting and CO stand for controlling. In SAP FICO, SAP FI take cares about accounting, preparing of financial statements, tax calculations etc, while SAP CO take cares of inter orders, price sheet, record sheet, expense allocations etc. This is the software that saves data, and also measures them and recovers the result based on the current marketing situation. SAP FICO prevents data loss and also does the confirmation and reporting of data.

Q- What are the different modules to which 'Financial Accounting' is combined?
A- The different modules to which 'Financial Accounting' is integrated are
a) Sales and Distribution
b) Material Management
c) Human Resource
d) Production Planning
e) Controlling of financial transaction

Q- what is posting key and what does it control?
A- So as to decide the exchange compose which is entered in the line item, a two-digit numerical is utilized known as 'Posting Key'
Posting key determines
a) Field status of the transaction
b) Types of posting. Debit or Credit
c) Account Types

Q- What is the company code in SAP?
A- To create financial statements like Profit and Loss statement, Balance sheets etc. company code is used.

Q- What number of Chart of Accounts can organization code have?
A- You can have one Chart of Account for one company code which is assigned.

Q- For an Organization Code what number of currencies can be configured?
A- There are three currencies that can be configured for an Organization code, one is a local currency and two are the parallel currencies.

Q- Explain options in SAP for Fiscal years?
A- The fiscal year in SAP is the manner in which money related information is put away in the system. In SAP, you have 12 periods and four different periods. These periods are put away in fiscal year variant that is:
a) The logbook Year: From Jan-Dec, April-March
b) Year dependent fiscal year

Q- What is year dependent fiscal year variant?
A- In a year dependent fiscal year variation, the quantity of days in multi-month isn't according to the calendar month. For ex. in the year 2005, month January end on 29th, month Feb closes on 26th etc.

Q- Explain what is approvals and substitutions in SAP?
A- For each functional area in SAP Validation or Substitution is characterized eg, Assets, Controlling and so forth at the below levels
a) Document Level b) Line thing Level

Q- In SAP how input and output taxes are taken into consideration?
A- For every nation, tax methodology is defined, and tax codes are defined inside this. There is an adaptability to either cost out the Tax amounts or capitalize the same on stocks.

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