tag:blogger.com,1999:blog-47316708832768171412024-02-08T11:57:45.263-08:00SAP FICO Interview Questions and Answersshruti.SAPVITShttp://www.blogger.com/profile/15296569614067597801noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4731670883276817141.post-9594910842494910882018-09-25T03:05:00.000-07:002018-09-25T03:05:58.408-07:00<div dir="ltr" style="text-align: left;" trbidi="on">
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;">Introductions</span></span></span></span></strong></h3>
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<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">SAP </span></span></span></span></span><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">FICO</span></span></span></span></span><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"> Interview questions below are some SAP </span></span></span></span></span><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">FICO</span></span></span></span></span><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"> Interview Questions & Answers for Experienced & Freshers, you are at right place. There are a lot of possibilities for many reputed organizations in the world. <a href="https://www.sapvits.com/" target="_blank">Vintage IT Solutions</a> offers advanced <a href="https://www.sapvits.com/" target="_blank">SAP </a></span></span></span></span></span><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"><a href="https://www.sapvits.com/" target="_blank">FICO</a></span></span></span></span></span><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"><a href="https://www.sapvits.com/" target="_blank"> Interview Questions 2018</a> that helps you in cracking your interview & acquire dream career as <a href="https://www.sapvits.com/project/sap-fico-online-training/" target="_blank">SAP </a></span></span></span></span></span><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"><a href="https://www.sapvits.com/project/sap-fico-online-training/" target="_blank">FICO</a></span></span></span></span></span><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"><a href="https://www.sapvits.com/project/sap-fico-online-training/" target="_blank"> Developer</a>.</span></span></span></span></span></span></span><br />
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;">SAP FICO </span></span></span></span></strong><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;">Interview Questions and Answers Article-1</span></span></span></span></h3>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">Q- What is SAP FICO?</span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">A- </span></span></span></strong><strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"><a href="https://www.sapvits.com/project/sap-fico-online-training/" target="_blank">SAP FICO</a>, FI stands for <a href="https://www.sapvits.com/project/sap-fico-online-training/" target="_blank">Financial Accounting</a> and CO stand for <a href="https://www.sapvits.com/project/sap-fico-online-training/" target="_blank">controlling</a>. In SAP FICO, <a href="https://www.sapvits.com/project/sap-fico-online-training/" target="_blank">SAP FI</a> take cares about accounting, preparing of financial statements, tax calculations etc, while <a href="https://www.sapvits.com/project/sap-fico-online-training/" target="_blank">SAP CO</a> 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.</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">Q- What are the different modules to which 'Financial Accounting' is combined?</span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">A</span></span></span></strong><strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">- The different modules to which 'Financial Accounting' is integrated are</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">a) Sales and Distribution</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">b) Material Management</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">c) Human Resource</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">d) Production Planning</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">e) Controlling of financial transaction</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">Q- what is posting key and what does it control?</span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">A-</span></span></span></strong><strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"> So as to decide the exchange compose which is entered in the line item, a two-digit numerical is utilized known as 'Posting Key'</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">Posting key determines</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">a) Field status of the transaction</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">b) Types of posting. Debit or Credit</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">c) Account Types</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">Q- What is the company code in SAP?</span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">A-</span></span></span></strong><strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"> To create financial statements like Profit and Loss statement, Balance sheets etc. company code is used.</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">Q- What number of Chart of Accounts can organization code have?</span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">A</span></span></span></strong><strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">- You can have one Chart of Account for one company code which is assigned.</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">Q- For an Organization Code what number of currencies can be configured?</span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">A-</span></span></span></strong><strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"> There are three currencies that can be configured for an Organization code, one is a local currency and two are the parallel currencies.</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">Q- Explain options in SAP for Fiscal years?</span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">A-</span></span></span></strong><strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"> 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:</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">a) The logbook Year: From Jan-Dec, April-March</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">b) Year dependent fiscal year</span></span></span></span></span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">Q- What is year dependent fiscal year variant?</span></span></span></strong></div>
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";">A</span></span></span></strong><strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">- 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 26</span></span></span></span></span></span></span></strong><strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><sup><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">th</span></span></span></span></span></sup></span></span></strong><strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"> etc.</span></span></span></span></span></span></span></strong></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong>Q- Explain what is approvals and substitutions in SAP?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><b>A</b></strong><strong><span style="font-weight: normal;">- For each functional area in SAP Validation or Substitution is characterized eg, Assets, Controlling and so forth at the below levels</span></strong></span></span></span><br />
<span style="color: #343434;"><span style="font-family: "abyssinica sil";">a) Document Level b) Line thing Level</span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong>Q- In SAP how input and output taxes are taken into consideration?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><b>A</b></strong><strong><span style="font-weight: normal;">- 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.</span></strong></span></span></span></div>
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shruti.SAPVITShttp://www.blogger.com/profile/15296569614067597801noreply@blogger.com0tag:blogger.com,1999:blog-4731670883276817141.post-54396226224635296182018-09-25T03:04:00.000-07:002018-09-25T03:04:09.395-07:00<div dir="ltr" style="text-align: left;" trbidi="on">
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<strong><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;">SAP FICO </span></span></span></span></strong><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;">Interview Questions and Answers Article-2</span></span></span></span></h3>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong>Q- What are the application areas that use validation and replacements?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A</b></strong><strong><span style="font-weight: normal;">- a) FI- Financial accounting</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;">b) CO-Cost accounting</span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;">c) CS-Consolidation</span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;">d) PS-Project system</span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;">e) AM-Asset accounting</span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;">f) GL-Special purpose ledger</span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;">g) PC-Profit center accounting</span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;">h) RE-Real estate</span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong>Q-In SAP what is the utilization of FSV (Financial Statement Version)?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A</b></strong><strong><span style="font-weight: normal;">- FSV ( Financial Statement Version) is a reporting device. It tends to be utilized to extricate final records from SAP like Profit and Loss Account and Balance Sheet. The different FSV's can be utilized for creating the output of different outside agencies like Banks and other statutory specialists.</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong>Q- Explain field status group?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A</b></strong><strong><span style="font-weight: normal;">- </span></strong><strong><span style="font-weight: normal;">'Field status groups' handle the fields which come up when the user does the transactions. In FIGL (Financial General Ledger) master, the field status group is saved.</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong>Q- What is FI-GL (Financial- General Ledger) Accounting does?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A</b></strong><strong><span style="font-weight: normal;">- To get a summary of outside Accounting and accounts, G L (General Ledger) Accounting is used. It does the recording of all business activities combined with all other operational areas in a software system and also guarantees that the Accounting data is always complete and correct.</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong>Q- What is the default exchange rate type which is picked up for all SAP transactions?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A</b></strong><strong><span style="font-weight: normal;">- For all SAP transaction, the default exchange rate is M (Average Rate).</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong>Q- What are the processes by which vendor inventory payments can be made?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A-</b></strong><strong><span style="font-weight: normal;"> 1) Manual payment without the use of any output mechanism like cheques etc.</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;">2) Computerized payments like DME (Data Medium Exchange), cheques, Wire transfer.</span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong>Q- What are the difficulties when the business area is configured?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;">A- The difficulty faced when a business area is configured, is splitting of account balance which is more appropriate in the case of tax accounts.</span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong>Q- What are the customizing prerequisites For document clearing?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A</b></strong><strong><span style="font-weight: normal;">- The customizing pre-requisite for record clearing is to check the items cleared and uncleared, and this is done by open item control. Open item management controls your excellent account, i.e account payable and account receivable. For example, an inventory item that has not yet been paid is recorded as open account until it is paid.</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong>Q- What is the importance of GR/IR ( Good Received/ Invoice Received) clearing account?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A</b></strong><strong><span style="font-weight: normal;">- GR/IR ( Good Received/ Invoice Received) is an interim account. In the legacy system, if the assets are received and the invoice is not received, the provision is made, in SAP at the goods receipt. It passes the Accounting record debiting the Record and crediting the GR/IR account. So, when an invoice is received the vendor account is credited, and the GR/IR account is debited, the GR/IR will show as un-cleared items till the time the invoice is not received.</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong>Q- What is parallel and local currency in SAP?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A</b></strong><strong><span style="font-weight: normal;">- Every company code can have two additional currencies, in addition to the company code, currency entered into the organization code data. The currency listed in the company code creation is called local currency and the other two added currencies are called parallel currencies. Parallel Currencies can be used in international business transactions. In order to do the foreign transaction, parallel currency can be used. The two parallel currencies would be GROUP CURRENCY and HARD CURRENCY.</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong>Q- Wherever can you use the internal order?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A</b></strong><strong><span style="font-weight: normal;">- To trace the cost, internal orders are used; they are meant to be acquired over on a short-term basis.</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong>Q- Is it possible to calculate discount to the day?</strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A</b></strong><strong><span style="font-weight: normal;">- Yes, it is possible to calculate the discount, to do that you have to switch on the sign Dep. to the day in the depreciation key configuration.</span></strong></span></span></span></div>
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shruti.SAPVITShttp://www.blogger.com/profile/15296569614067597801noreply@blogger.com0tag:blogger.com,1999:blog-4731670883276817141.post-10991589128634609212018-09-25T03:03:00.000-07:002018-09-25T03:03:19.323-07:00<div dir="ltr" style="text-align: left;" trbidi="on">
<strong style="font-family: "times new roman";"><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;">SAP FICO </span></span></span></span></strong><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>Interview Questions and Answers Article-3</b></span></span></span></span></span></span><br />
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b><br /></b></span></span></span></span></span></span>
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<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="font-style: normal;"></span></span></span></span></span><br />
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<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong>Q- In Asset Accounting what are the organizational assignments?</strong></span></span></span></span></span></span></span></span></span></div>
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="font-style: normal;"></span></span></span></span></span><br />
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<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #222222;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A- </b></strong><strong><span style="font-weight: normal;">In Asset Accounting, chart of depreciation is rated as the highest node, and this is assigned to the company node. Total the reduction calculations are stored under the chart of depreciation.</span></strong></span></span></span></span></span></span></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>Q- What is the importance of asset classes? What asset classes are there?</b></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A- </b></strong><strong><span style="font-weight: normal;">The asset class is the main class to classify assets. All asset need be assigned to only one asset class. Example of asset class is Furniture & Fixtures, Plant & Machinery, and Computers etc. The asset class also contains the G1 account, when any asset is procured, the G1 account is debited. Whenever you create an asset master, it becomes mandatory to mention the asset class for which you are creating the required assets. Then, whenever any asset sale occurs, the G1 account associated with the asset class is automatically chosen up and the entry is passed. You can also define the default values for determining the depreciation values and other master data in each asset class.</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>Q- How capital WIP (Work In Process) and Assets accounted for in SAP?</b></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A- </b></strong><strong><span style="font-weight: normal;">'Capital WIP' is referred to as Assets under construction in SAP and is represented under specific asset class. Depreciation is not charged under 'Capital WIP' usually. The cost acquired on building a capital asset can be booked to an 'internal order' and into the settlement procedures, and can be posted onto an 'Asset Under Construction'.</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>Q- What are the main components of the Chart of Accounts?</b></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A- </b></strong><strong><span style="font-weight: normal;">The major components of the Chart of Accounts are:</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">a) Chart of account key</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">b) Name</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">c) Maintain Language</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">d) Length GL account number</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">e) Controlling Integration</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">f) Consolidation-Group chart of accounts</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">g) Block indicator</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>Q- What is the credit control area in SAP?</b></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A- </b></strong><strong><span style="font-weight: normal;">To immune your company from the risk of bad debts and multiple outstanding receivable, you can set a credit limit for your customer by using credit control area in SAP. With the support of SAP, you can block the deliveries to your customer based on the credit limit and the accounts receivable balance in their account which is managed by you.</span></strong></span></span></span></div>
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<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>Q- How can you create Credit Control Area in SAP?</b></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A- </b></strong><strong><span style="font-weight: normal;">By using transaction code OB45 or path you can create Credit Control Area in SAP</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">SPRO> enterprise structure >maintain structure>definition>financial accounting>maintain credit control area and then enter the following description</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">a) Update</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">b) Name of the credit control area in SAP</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">c) Currency</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">d) Description</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">e) Credit Limit</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">f) Risk Category</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">g) Fiscal Variant</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">h) Rep group</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<br /></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>Q- What is posting period variants?</b></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A- </b></strong><strong><span style="font-weight: normal;">In fiscal year posting period is a period for which the transactions figures are updated. The posting period modifications in SAP is responsible to control which Accounting period is open for posting and assures that the terminated periods remain stable.</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<br /></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>Q- Explain in simple terms what is field status and what does it control?</b></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A- </b></strong><strong><span style="font-weight: normal;">Field status group is a group configured in FSV (Field Status Variant) to maintain field status for G/L (General Ledger) accounts. It examines which entries should suppress, display, optional and needed.</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<br /></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>Q- What is the short-end fiscal year?</b></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A- </b></strong><strong><span style="font-weight: normal;">A short-end fiscal year results when you change from a normal fiscal year to a non-calendar fiscal year, or another way around. This type of change occurs when an enterprise becomes part of a new co-corporate group.</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<br /></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>Q- What is an account group and where it is used?</b></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A- </b></strong><strong><span style="font-weight: normal;">To control the data that needs to be entered at the time of the creation of a master record an account group is used. Account group exists for the definition of GL account, Customer Master and Vendor.</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<br /></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>Q- Is the business area at company code level?</b></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A- </b></strong><strong><span style="font-weight: normal;">No. The business sector is at client level which means other company codes can also be posted to the same business area.</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<br /></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>Q- In SAP, Customer and Vendor code are stored at what level?</b></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A- </b></strong><strong><span style="font-weight: normal;">The Vendor and Customer codes are stored at the client level. It determines that by extending the company code view any company code can use the customer and vendor code.</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<br /></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>Q- How are tolerances for invoice verification defined?</b></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><b>A- </b></strong><strong><span style="font-weight: normal;">Tolerance determines whether the payable places matching or tax hold on the invoice. The following are the examples of tolerance can be described for Logistic Invoice Verification.</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">a) Small differences</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">b) Moving average price variances</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">c) Quantity variances</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;">d) Price variances</span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
<span style="color: #343434;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><strong><span style="font-weight: normal;"><br /></span></strong></span></span></span></div>
<div align="justify" style="font-variant-east-asian: normal; font-variant-numeric: normal; margin-bottom: 0in;">
</div>
<div align="justify" style="margin-bottom: 0in;">
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shruti.SAPVITShttp://www.blogger.com/profile/15296569614067597801noreply@blogger.com0tag:blogger.com,1999:blog-4731670883276817141.post-63869354917230733172018-09-25T02:58:00.003-07:002018-09-25T03:09:34.898-07:00<div dir="ltr" style="text-align: left;" trbidi="on">
<b style="background-color: white; color: #222222; font-family: "abyssinica sil"; font-size: small;">SAP FICO Interview Questions and Answers Article- 4</b><br />
<span style="background-color: white; color: #222222; font-family: "abyssinica sil"; font-size: 13.2px;"><span style="font-size: x-small;"><span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><b><br /></b></span></span></span>
<br />
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>Q-
What is a country Chart of Accounts?</b></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>A-
</b></span></span></span></span></strong><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">Country
Chart of Accounts contains G/L (General Ledger) accounts needed to
meet the country's legal requirements.</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<br /></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>Q-
What is APP in SAP Fico?</b></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>A-
</b></span></span></span></span></strong><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">The
APP stands for 'Automatic Payment Program'; it is a tool provided by
SAP to companies to pay its vendors and customers. APP tools support
to avoid any mistakes taken place in posting manually. Also, when a
number of employees are more in the company, payment through APP
becomes more feasible.</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<br /></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>Q-
In SAP FICO what are the terms of payment and where are they stored?</b></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>A-
</b></span></span></span></span></strong><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">Payment
terms are created in the configuration and determine the payment due
date for vendor/customer invoice.</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">They
are saved on the customer or vendor master record and are pulled
through onto the customer/vendor invoice postings. The payable date
can be changed on each individual invoice if needed.</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<br /></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>Q-
What are one-time vendors?</b></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>A-
I</b></span></span></span></span></strong><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">n
some companies, particularly the one dealing with high cash
transactions, it is not practical to create new master records for
every vendor trading partner. One time vendors provide a dummy vendor
code to be used on invoice entry and also the information which is
usually stored in the vendor master.</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<br /></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>Q-
In Accounts Receivable, what is the difference between the 'Residual
Payment' and 'Part Payment' methods of allocating cash?</b></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>A-
</b></span></span></span></span></strong><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">'Residual
payment' and 'Part payment' are the two methods for allocating
partial methods from customers. For example, an invoice for $100 is
generated, the customer has paid $70. Now this $70 will be off-set
and leaving the remaining balance $30. With residual payment, the
invoice is cleared for the full value of $100 and a new invoice is
generated for the remaining balances $30.</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<br /></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>Q-
What is "dunning" in SAP?</b></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>A-
</b></span></span></span></span></strong><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">'Dunning'
is the method by which payment tracking letters are issued to
customers. SAP can determine which customers should receive the
letters and for which overdue items. Different letters can be printed
in SAP depending on the overdue payment date, with a simple reminder.
With the help of the dunning level on the customer master, we can
know which letter has been issued to the customer.</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<br /></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>Q-
What is the purpose of the account type field in the GL (General
Ledger) master record?</b></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>A-
</b></span></span></span></span></strong><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">At
the end of the year, profit and loss accounts are cleared down to the
retained earnings balance sheets account. The field contains a sign
which is associated to a specific GL (General Ledger) accounts to use
in this clear down.</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<br /></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>Q-
Explain what is happening records and why are they used?</b></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>A-
</b></span></span></span></span></strong><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">Recurring
entries can reduce the requirement for the manual posting of
Accounting records which do not change from month to month. For
instance, an enterprise document can be created which can be
scheduled for the last days of each month or whenever an individual
wants it. Normally, various recurring entries are created at one go
and then processed all together as a batch month end using
transaction.</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<br /></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>Q-
What is a 'Value Field' in the CO-PA module?</b></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>A-
</b></span></span></span></span></strong><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">Value
entries are number or value related fields in profitability analysis
such as quantity, sales revenue, discount value etc.</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<br /></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>Q-
What are the statistical internal orders?</b></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>A-
</b></span></span></span></span></strong><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">Statistical
internal orders are duplicate cost objects used for reporting and
analysis purposes. It necessity be posted to in association with a
real object such as a cost center.</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<br /></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>Q-
For what plans internal orders can be used?</b></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>A-
</b></span></span></span></span></strong><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">You
can use internal orders for</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">a)
Overhead Orders: It controls internal jobs settled to cost centers</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">b)
Investment Orders: It controls internal jobs settled to fixed assets</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">c)
Accrual Orders: Offsetting posting of accrued costs calculated in CO</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-family: "abyssinica sil";"><span style="font-size: small;"><strong><span style="font-variant: normal;"><span style="color: #343434;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">d)
Orders with Revenue: It displays the cost checking parts of Sales and
Distribution, it does not affect the core business of the company.</span></span></span></span></span></strong></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<br /></div>
<h2 align="justify" class="western" style="margin-bottom: 0in; margin-top: 0in; orphans: 2; widows: 2;">
</h2>
<h3 align="justify" class="western" style="margin-bottom: 0in; margin-top: 0in; orphans: 2; widows: 2;">
<span style="font-variant: normal;"><span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>About
</b></span></span></span></span></span></span><a href="https://www.sapvits.com/"><span style="font-variant: normal;"><span style="color: #888888;"><span style="text-decoration: none;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><b>SAPVITS</b></span></span></span></span></span></span></span></a></h3>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<br /></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-variant: normal;"><span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">We
recognize that many of you are willing to put the extra effort to
migrate to SAP practice and become SAP consultants. We support you to
achieve your goal with a team of experienced SAP professors, great
infrastructure, and a clear roadmap to </span></span></span></span></span></span></span><a href="https://www.sapvits.com/"><span style="font-variant: normal;"><span style="color: #888888;"><span style="text-decoration: none;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">SAP
certification</span></span></span></span></span></span></span></span></a><span style="font-variant: normal;"><span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">.
In short, we have what you need at prices you can manage. At SAPVITS
our goal is to provide you with courteous, helpful, expert service of
the highest quality. Also, we provide Many SAP Courses like </span></span></span></span></span></span></span><a href="https://www.sapvits.com/project/sap-simple-finance-online-training/"><span style="font-variant: normal;"><span style="color: #888888;"><span style="text-decoration: none;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">SAP
Simple Finance Online Training</span></span></span></span></span></span></span></span></a><span style="font-variant: normal;"><span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">,
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C4C Online Training</span></span></span></span></span></span></span></span></a><span style="font-variant: normal;"><span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">,
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HANA Administration Online Training</span></span></span></span></span></span></span></span></a><span style="font-variant: normal;"><span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">,
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<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<br /></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-variant: normal;"><span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;">Visit
our site if you want to know more about </span></span></span></span></span></span></span><span style="font-variant: normal;"><span style="color: #888888;"><span style="text-decoration: none;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"><a href="https://www.sapvits.com/">Vintage
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SAP Training or to be able to know more about the purpose of <a href="https://www.sapvits.com/" target="_blank">SAP Training Online</a>. Enroll with us and learn SAP Online training.</span></span></span></span></span></span></span></div>
<div align="justify" style="margin-bottom: 0in; orphans: 2; widows: 2;">
<span style="font-variant: normal;"><span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;"><span style="letter-spacing: normal;"><span style="font-style: normal;"><span style="font-weight: normal;"><br /></span></span></span></span></span></span></span></div>
<h2 align="justify" class="western" style="font-style: normal; font-variant: normal; letter-spacing: normal; margin-bottom: 0in; margin-top: 0in; orphans: 2; widows: 2;">
<span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;">Key
Features of SAP Online Training</span></span></span></h2>
<ul>
<li>
<div align="justify" style="background: transparent; border: none; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 140%; margin-bottom: 0in; orphans: 2; padding: 0in; page-break-before: auto; widows: 2;">
<span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;">In-depth
knowledge of SAP Every Module</span></span></span></div>
</li>
<li>
<div align="justify" style="border: none; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 140%; margin-bottom: 0in; orphans: 2; padding: 0in; widows: 2;">
<span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;">Instructor-Led
online training sessions</span></span></span></div>
</li>
<li>
<div align="justify" style="border: none; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 140%; margin-bottom: 0in; orphans: 2; padding: 0in; widows: 2;">
<span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;">The
real-time and practical training approach</span></span></span></div>
</li>
<li>
<div align="justify" style="border: none; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 140%; margin-bottom: 0in; orphans: 2; padding: 0in; widows: 2;">
<span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;">24/7
Server Access support</span></span></span></div>
</li>
<li>
<div align="justify" style="border: none; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 140%; margin-bottom: 0in; orphans: 2; padding: 0in; widows: 2;">
<span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;">Experienced
and Certified SAP professionals as trainers</span></span></span></div>
</li>
<li>
<div align="justify" style="border: none; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 140%; margin-bottom: 0in; orphans: 2; padding: 0in; widows: 2;">
<span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;">Lifetime
access to the recorded videos</span></span></span></div>
</li>
<li>
<div align="justify" style="border: none; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 140%; orphans: 2; padding: 0in; widows: 2;">
<span style="color: #222222;"><span style="font-family: "abyssinica sil";"><span style="font-size: small;">Industry-based
syllabus</span></span></span></div>
</li>
</ul>
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<span style="font-variant-east-asian: normal; font-variant-numeric: normal;"><span style="color: #888888;"><span style="font-family: "abyssinica sil";"><span style="font-size: 12pt;"><a href="https://www.sapvits.com/">S</a><a href="https://www.sapvits.com/">APVITS</a>
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