sap fico interview questions and answers
Are you going to face a SAP FICO interview? Then you must be wondering what are things need to be checked before going to the interview; here some of those things discussed in brief:
1. What is SAP FICO?
SAP stands for system applications and products in data processing, has various modules. Out of which, SAP FICO is one, which stands for FI meaning Financial Accounting and CO controlling. These both FI and CO function for financial transactions data.
2. How does SAP FICO function?
SAP FICO functions through integration with other modules like Material Management (MM), Human Resourse, Sales and Distribution and obtains the data. This is made into accounting relevant transactions in Logistics (LO) and are posted in real time for financial accounting by automatic account determination. This data is futher passed on to Controlling.
3.What are the uses of SAP FICO?
SAP FICO is used for external reporting like Profit and Loss statements and Balance Sheet.
4. What does the SAP FI Module Contain?
SAP FI contains General Ledger accounting, Accounts Receivables, Accounts Payable, Asset Accoutning, Bank Accounting, Consolidation, Special Purpose Ledger, Travel Management.
5. What is the Function of SAP CO Module?
All the internal reporting purposes are meant with SAP CO Module. The Controlling Area is used to refer to the controlling activities of profit center accounting, profitability, cost center accounting, product costing, etc.
6. What are the Sub Modules of SAP CO?
SAP CO has 6 sub modules which are Profitability analysis,Cost element accounting, Products cost controlling,Cost center accounting, Internal orders,Profit center accounting.
7. What is the Use of getting trained with SAP FICO?
SAP FICO training allows to coordinate, expand and unify the business futher. It will allows to have experience on a knowledgeable level.
8. How does the SAP FICO beneficial to Organization?
SAP FICO training provides benefit not only to the employees, but also it will result in increasing the efficiency of work, there by improving the organization.
9.What is Managerial Accounting?
Managerial Accounting refers to Controlling in SAP. This SAP CO Module will facilitate the user to get the reports on cost centers, profit centers, profitability, etc.
10. What is the difference between FI and CO Module of SAP?
Unlike the FI module of SAP, the CO Module of the SAP is more concerned with Internal users. Whereas, SAP FI is an imperative core module.