Securing a work as a SAP FICO (Money related Bookkeeping and Controlling) proficient after SAP Fico course is a noteworthy step toward a fulfilling career in the SAP environment. Given the basic nature of fund and bookkeeping in businesses, SAP FICO specialists are in tall request over different businesses. Companies like Deloitte, Accenture, Capgemini, and IBM are continuously on the post for talented experts who can optimize their monetary forms utilizing SAP FICO. To offer assistance you succeed in your interviews, we’ve compiled a list of the best 10 meet questions that are commonly inquired by driving organizations, along with comprehensive answers and experiences into which companies emphasize these skills.
Read: SAP FICO Course in Pune(2024) with 100% Placement
1. What is SAP FICO and how does it coordinated with other SAP modules?
Answer:
SAP FICO stands for Money related Bookkeeping (FI) and Controlling (CO). It is a center module in SAP ERP, permitting organizations to track and oversee their budgetary conditions. SAP FI handles outside announcing (Adjust Sheet, Benefit & Misfortune articulations), whereas SAP CO centers on inner detailing (Taken a toll Center Bookkeeping, Benefit Center Accounting).
Integration with Other Modules:
SAP MM (Materials Administration): FI coordinating with MM for merchant installments and stock valuation.
SAP SD (Deals and Dispersion): FI interfaces with SD for client invoicing and income tracking.
SAP HR (Human Assets): Integration here is vital for finance processing.
Companies Inquiring This Question:
Consulting firms like Deloitte and Accenture regularly emphasize this address to evaluate how well you get it the interconnected nature of SAP modules, as it’s pivotal for giving all encompassing commerce solutions.
2. Clarify the contrast between ‘Financial Bookkeeping Worldwide Settings’ and ‘Controlling Area’ in SAP.
Answer:
Financial Bookkeeping Worldwide Settings are arrangements that apply to all company codes inside an organization, guaranteeing consistency in budgetary announcing. These settings incorporate Monetary Year Variations, Monetary standards, and Report Types.
On the other hand, a Controlling Region is an organizational unit inside SAP CO that speaks to a closed framework for fetched bookkeeping purposes. A single controlling zone can be alloted to numerous company codes, but they must share the same monetary year variation and chart of accounts.
Companies Inquiring This Question:
This address is regularly postured by companies like Capgemini and TCS as they frequently handle complex worldwide clients with different substances, making it crucial to get it these settings.
3. What are the distinctive sorts of Uncommon G/L exchanges in SAP FICO?
Answer:
Special G/L exchanges in SAP FICO are elective compromise account postings that don’t specifically affect the standard client or merchant account. The most common sorts are:
Down Installment Ask: A ask for installment some time recently the genuine receipt is generated.
Bill of Trade: Utilized in nations where installment by draft is common.
Guarantee: A shape of security given by the client or vendor.
These exchanges are taken care of through extraordinary G/L pointers which coordinate postings to particular accounts other than the regular compromise accounts.
Companies Inquiring This Question:
Firms like EY (Ernst & Youthful) and KPMG esteem candidates who get it these exchanges, especially for parts including universal clients where such exchanges are frequent.
4. How do you handle Blunder Rectification in SAP FICO?
Answer:
Error adjustment in SAP FICO includes recognizing and redressing errors in budgetary postings. The most common strategies include:
Reversal Postings: Utilized when an inaccurate archive needs to be reversed.
Substitution and Approval Rules: Pre-defined rules that naturally adjust postings based on particular criteria.
Manual Alterations: Coordinate changes in the G/L accounts when computerized alternatives are not feasible.
Companies Inquiring This Question:
IBM and Wipro regularly inquire around mistake redress strategies to gage how a candidate handles real-time monetary discrepancies.
5. Portray the steps to perform a year-end closing in SAP FICO.
Answer:
Year-end closing in SAP FICO is a basic handle that includes a few steps:
Reconciliation of Sub-ledgers and Common Record: Guarantee that all sub-ledgers (AP, AR, Resource Bookkeeping) are accommodated with the common ledger.
Accruals and Deferrals: Post fundamental collections and deferrals for costs and incomes that span the monetary year-end.
Asset Bookkeeping Closing: Near the monetary year in resource bookkeeping by calculating depreciation.
Run Budgetary Articulations: Produce and analyze the adjust sheet and benefit & misfortune statements.
Carry Forward Equalizations: Near the monetary year and carry forward equalizations to the following year.
Companies Inquiring This Question:
Infosys and HCL Innovations as often as possible inquire this address to survey a candidate’s viable involvement with monetary closing forms.