What are the frequently asked
questions on SAP FICO Interview Questions?
1. What is chart of account? What is the relevance of defining chart
of account?
A. It is the top level financial structure, contains the GL Accounts
we define the all the accounts and one chart of accounts assign to company
code and one chart of accounts will assign to many company codes . It is
list of Gl accounts and it contains account no , account name, language,
length, cost element, blocking information that controls the how an account
functions and how a gl account created in company code . COA Key.
2. What is account group? What does it control?
A. IT determines the which fields you need to configure on the GL master
record. It is necessary to have at least 2, one for B/S and another one
for P&L accounts. It controls the number ranges of GL. The Status fields
of the master record of GL Belong to company code area.
3. What is posting key? What is its role?
A. It controls the line item of GL entry debit and credit.
4. What is business area?
A. Organizational unit of external accounting that corresponds to a
specific business segment or area of responsibility in a company. Financial
statements can be created for business areas for internal purposes. They
are primarily used to facilitate external segment reporting across company
codes covering the main operation of a company (product line, Branches).
The Business area may be the branch of the company or product lines it
deals with
5. While defining chart of account, there is field "manual
creaation of cost element" and "automatic creation of cost element", what
is it?
A. Generally when ever we are creating cost elements we can create
some of exependitures manually some automatically so we can create manually
cost elements in defining chart of accounts.
6. After creating a customer/vendor, how can we check that under
which account group we have configured this customer/vendor?
A. We can check through customer group and vendor group it was created
by ours when we are creating vendor and customer groups.
Record a macro