Here is the list of SAP FICO Interview Questions:
See more SAP Interview Questions
1. what is chart of account? what is the relevance of defining chart of account?
2. what is account group? what does it control?
3. what is posting key? what is its role?
4. what is business area?
5. while defining chart of account, there is field " manual creaation of cost element" and "automatic creation of cost element". what is it?
6. after creating a customer/vendor, how can we check that under which account group we have configured this customer/vendor?
7 how the system will know that april is your first posting period?
8. define the term "fiscal year" , "posting period varient" & " field status varient"
9. what do u mean by "open item management" & "line item display"
1. Chart of Account contains all the list of all G/L accounts. Either one or many company codes can use the same chart of accounts.
Relavance
For each G/L account, the chart of accounts contains the account number, account name, and the information that controls how an account functions and how a G/L account is created in a company code.
2. Account Group defines the attributes that determine the creation of master records.
The account group mainly controls,
The data that is relevant for the master record.
A number range from which numbers are selected for the master records.
An account group must be assigned to each master record.
3 Posting Key
Defines the type of account (e.g., Customer, Vendor, G/L account, Material, Asset)
Determines whether the entry is a debit or credit
Indicates special properties (e.g. Reversal Posting Key, Special G/L transaction, etc.)
Data entry screen for the line item via the field status group
4. Business Area
Business Areas are used to differentiate transactions originating from different points/lines/locations in business. Business areas are primarily used to facilitate external segment reporting across company codes, covering the company's main areas of operation (product lines, branches). They are used for internal reporting purpose
5. When automatic creation of cost element is selected the primary cost element is created automatically in CO for each G/L account created (only accounts related to Profit and Loss account group). Where as when manual creation of cost element is selected we need to create cost element in CO manually whenever needed.
6. Customer / Vendor Account Group
https://www.sdn.sap.com/irj/sdn/thread?messageID=4850903ӗ
7. First posting period
Fiscal Year is a period of 12 months and SAP provides 4 special periods to posting adjustment Entries. Fiscal year determines posting periods and while defining the posting periods in fiscal year variant in corresponding field of the 4th month we will give 1 (in the period column) by which system determines April as the 1st posting period.
This link will give you clear picture
http://www.sap-img.com/financial/setup-fi-fiscal-year-period.htm
8. Fiscal Year
http://help.sap.com/saphelp_40b/helpdata/es/95/e42c7dd435d1118b3f0060b03ca329/content.htm
Posting Period Variant
The Posting period variant controls which posting periods, both normal and special, are open for each company code. It is possible to have a different posting period variant for each company code in the organization. The posting period is independent of the fiscal year variant.
Field Status Variant
Field Status Variant is a bundle of field status groups.
Field Status Groups determines document screen layout during posting of a document.
9. Open Item Management & Line Item Display
https://www.sdn.sap.com/irj/sdn/thread?messageID=4782748煮
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