Here this article is about SAP FICO Top 10 Interview Questions which are very useful for the seekers in the future when you attend interview regarding SAP FICO. These Question and answers are explained in a brief way and in a simple manner where the readers can understand easily without any difficulties. After reading these please share your testimonial with us. All the best
Introduction to SAP FICO
SAP(FICO) Financial Accounting and Controlling offers your company some of the most important functionality in your complete SAP system. It is one of the most popular Modules in SAP. SAP FICO consists of two chief modules namely Financials (FI) and Controlling (CO).
1) What are the different directorial assignments to a company
code?
Ans: Company Code is a legal entity for which financial
statements like Profit and Loss and Balance Sheets are generated. Plants are
assigned to the company code, Purchasing association is assigned to the company
code, and Sales organization is assigned to the company code.
2) How does primary costs get selected up from cost center into
cost component structure?
Ans: When you do plan activity price calculation from SAP The
main cost, component structure is assign to the plan version 0 in Controlling.
3) What is the relation between a Controlling Areas and a
Company code?
Ans: Relation between Controlling Areas and a Company code :
Single Company code relation
Cross Company code relation
Single controlling area can be assigned too many different
company codes. Controlling can have a one to one relationship or one too many
relationships with different company codes. Controlling Area is the umbrella
under which all controlling activities of Cost Center Accounting, Product
Costing, Profit Center and Profitability Analysis are stored. In the same way
Company Codes is the umbrella for Finance activities.
4) What do you meant by primary cost component split?
Ans: Primary cost split is defined when you create a cost
component structure. When you switch on this setting the primary cost from the
cost center are picked up and assigned to the various cost components.
5) How many Chart of Accounts can a Company code have?
Ans: Single Company code can have only one Chart of Account
assigned to it. The Chart of Accounts is nothing but the list of General Ledger
Accounts.
6) Is it possible to arrange 2 cost component structures for
the same product in order to have 2 different views?
Ans: Yes it is possible. We can create another cost component
structure and assign it to the main cost component structure. This cost
component structure is known as Auxiliary cost component structure which
provides another view of the cost component structure.
7) Mention the options in SAP when it comes to financial year?
Ans: Financial year is nothing but the way financial data is
stored in the system. We have 12 periods in SAP and four special periods. These
periods are stored is called as financial year alternative
There are two types of financial Year alternatives. They are:
Calendar Year – Jan-Dec, April -March
Year Dependent financial Year.
8) How can SAP go about costing a Product contains multiple
Bill of materials within it?
Ans: SAP first cost the lowest level product, arrives at the cost
and then goes and cost the next highest level and finally arrives at the cost
of the final product.
9) What is a year dependent financial year alternative?
Ans: In a year dependent financial year alternative the number of
days in a month are not as per the calendar month.
10) Define the other activities in Cost center?
Ans: If you have a manufacturing set up entering of Activity
prices per cost center or activity type is an important exercise undertaken in
Cost center accounting.
