SAP FICO Interview Questions & Answers
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1.Explain the term SAP FICO? SAP FICO stands for FI (financial Accounting) and CO (controlling). In SAP FICO, SAP FI take cares concerning Accounting, preparation of monetary statements, tax computations etc, whereas SAP CO take cares of repose orders, cost sheet, inventory sheet, price allocations etc.
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2. In SAP FI what area unit the structure elements? The structure components in SAP FI are: a) Company Code b) Business space c) Chart of Account d) Functional area
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3.What is the Company code in SAP? To generate money statements like Profit and Loss statement, Balance sheets etc. company code is employed.
4.Where are you able to use the interior order? To track the price, internal orders area unit used they're projected to be incurred over on a brief term basis.
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5.Explain what's validations and substitutions in SAP? For each useful space in SAP Validation or Substitution is outlined eg, Assets, dominant etc. at the subsequent levels a) Document Level b) Line item Level
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6.What is a field standing group? Field standing teams management the fields that return up once the user will the transactions. In FIGL (Financial General Ledger) master, the sector standing cluster is hold on.
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7.What area unit the issues once business space is configured? The problem Janus-faced once a business space is designed, is ripping of account balance that is a lot of pertinent within the case of tax accounts.
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8.What are the statistical internal orders? Statistical internal orders are dummy cost objects used for reporting and analysis purposes. It can must be posted to in conjunction with a real object such as a cost center.
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9.What is credit control area in SAP? 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 help 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 maintained by you
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10.What is short-end business year? A short-end year results after you modification from a traditional year to a non-calendar year, or alternative method around. this sort of modification happens once Associate in Nursing enterprise becomes a part of a brand new co-corporate cluster
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Thank You
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