SAP FICO

Course content for SAP FICO Certification Program:

The entire curriculum is divided into 2 levels Level-I and Level-II

Areas pertaining to MM, PP, SD, COPA, PC, ML, Advanced FA including PS do additionally belong to Level-II

Levels Duration Fees Topics
Level-I 40 Hours $1000 SAP FI – GL, AR, AP, BANKING, ASSET
Level-II 40 Hours $1000 COPA, PC, ML, Adv FA & CO

 

SAP Overview

  1. Introduction to SAP
  2. Basis SAP Services
  3. Co-operative Business Scenarios
  4. com
  5. Navigation
  6. System-wide Concepts
  7. Enterprise Structure

 

SAP FICO Course Content:

 

SAP (FINANCE) FI & CO:

 

Enterprise structure

 

Organizational Structure and Global Parameters

Define Company Code

Define Company and assign to Company Code

Define Business Area

Define Credit Control Area

Maintain Controlling Area

Assign Company Codes to Controlling Area

Create Operating Concern

Assign Controlling Area to Operating Concern

 

Configurations:

 

Maintain Company Code Global Parameters

Maintain Fiscal Year Variant

Assign Fiscal Year Variant to Company Code

Define Posting Period Variant

Maintain Open and Close Posting Periods

Assign Posting Period Variant to Company Code

Define Field Status Variant

Assign Field Status Variant to Company Code

Define Document Types for Postings

Define Number Ranges for

Document Types

Define Tolerance Groups for employees

Assign Tolerance Groups

Set Fiscal year Default for Company Code Set Default Value date Propose for

Company Code

 

Taxation and even connection with outside tax like Vertex:

 

Check and Assign Tax Calculation Procedure to Country

Define Tax Codes for Sales and Purchases

Define Tax Accounts for Postings

Activate Extended Withholding Tax

Define Withholding Tax Types for Invoice and Payment Postings

Define Withholding Tax codes

Assign Withholding Tax Types to Company Codes

Define Accounts for Withholding Tax Postings

 

Accounts Payables:

 

Define Vendor Account groups with screen layout

Create number ranges for vendor account groups

Assign number ranges to vendor account groups

Tolerance groups for vendors

Payment terms creation

Define Vendor Accounts

 

Transactions & Reporting:

 

Post vendor invoice

Post credit memo

Display vendor accounts balances

Invoice clearing with outgoing payment posting

Display posted documents

Define Accounts for special GL transactions

Post down payment requests

Post down payments

Clear down payment against invoices

Reason codes for under and overpayment

Define accounts for payment differences

 

Automatic payment program (APP)

 

Automatic payment programme execution with check output

Vendors ageing analysis

 

General Ledger Accounting:

 

Define chart of Accounts List

Assign Company Code to Chart of Accounts List

Define Accounts Groups and Screen layout for Account group

Define Retain Earning Accounts

Define GL Account Master Records with Chart of account view and Company Code view

 

Transactions & Reporting:

 

General Ledger Postings with Normal and Enjoy

Display Posted documents and Accounts

Reverse Wrong documents posted

Account Assignment Model

Interest calculation and Postings

Posting with Foreign currency

 

Foreign currency configurations:

Define methods for foreign currency valuation

Prepare Automatic posting for foreign currency valuation

Revaluation of foreign currency balances

Maintain Exchange rates maintain table

Define Reason Codes

Clear open item with full settlement

Partial and Residual methods

 

Bank Accounting:

 

Define House Banks with Bank Accounts

Creation of check number ranges for check lots

Check creation

Cancellation of issues check with reasons

Check register

 

Accounts Receivables :

 

Terms for Instalment payments

Define Customer Accounts

 

Transactions & Reporting:

 

Create customer Invoice

Clear invoice against in coming payment Dunning Procedure

Display document posted

Display customer accounts balances

Maintain correspondence with vendors

Generate customer statements

Customer ageing reports

Define tolerances for customers

Down payment received

Clear down payments against customer invoices

Setup credit control area

Set customer credit limits

Check posting against credit limits

 

Asset Accounting:

 

Copy and Modify the chart of depreciation

Assign Chart of depreciation to Company Code

Specify Account determination

Create screen layout rules

Define number ranges

Define Asset classes

Define depreciation areas post to GL

Assign GL accounts for postings

Define 0% tax codes

Define depreciation keys

Screen layouts for asset masters and depreciation areas

Create Asset Masters

Acquisition of assets with and without vendors

Retirement of assets

Transfer of assets

Scraping of assets

 

Transactions & Reporting:

 

Depreciation run and post

Display Asset Account balances

Asset explorer and history sheet

Specify asset take over date

 

Closing Topics:

 

Period end closing Activities

Year end closing Activities

Generation of reports in period and year end

Preparation of financial statement version

Master data and transactional data upload

 

CO(CONTROLLING):

 

General Controlling:

 

Configurations:

 

Activate Components for controlling area

Assignment of company code to controlling area

Maintain number rangers for controlling area documents

Maintain versions and setting for fiscal year

 

Cost Centre Accounting:

 

Introduction to cost centres accounting

 

Activate Cost centre accounting in controlling area

Define Standard Hierarchy for cost centres

Define cost centre categories

Define cost centre groups

Create cost centres

Define cost elements for activity allocation

Create activity types

Maintain statistical key figures

Post transaction to cost centres

Generate cost centre reports

Plan values and quantities for activity Prices

Calculate activity prices

Periodical reposting of cost

Create and execute Assessment cycle

Create and execute distribution cycles

Activity allocation

Setting for automatic posting of cost

Internal Orders:

Introduction to internal orders

Activate order management in controlling area

Maintain budget and planning profiles

Planning

Define Order types

Number ranges for orders

Creation of

Real and statistical orders

Re posting to orders

Secondary cost elements for order settlement

Posting values to internal orders

Display internal order reports

Product Cost Controlling:

Define cost sheet for overhead calculation

Define cost component structure

Define transfer structure

Maintain material cost estimate with quantity structure

Product cost mark and release

Define cost accounting relevant setting for order types and plants

Maintain result analysis key for work in progress calculation

Check variance variant

Calculate variance for order

Number ranges for variance documents and settlement documents

Define Material Master

Define Plant

B O M

Routing

Work centre

Profitability Analysis:

Introduction to Profitability Analysis

Maintain operating concern

Maintain characteristics

Maintain value fields

Define profitability segment

Maintain characteristic values

Define derivation rules

Setting for data flow from SD

Setting for data flow from FI and MM

Display reports in COPA

Mapping of SD Conditions to CO

PA Value Fields

 

Cost Element Accounting:

 

Create primary and secondary cost elements

Creation of cost elements manual and automatic

Define cost element categories

Define cost element groups

Define number ranges for recon postings

 

Profit Centre Accounting:

 

Introduction to profit centre accounting

Maintain standard hierarchy

Importance and Create dummy profit centre

Maintain profit centre groups

Creation of profit centres

Assignment of profit centres in cost centre master data

Assignment of cost centres in material masters

Maintain automatic account assignments for revenue elements

Profit centre for additional balance sheet accounts and PL accounts

Posting to profit centres

Display Profit centres reports

 

Additional Concepts:

 

Over view on ASAP methodology

Transport request creation and release

Over view on technical aspects

SAP Query

Topic wise interview questions

Mock Interview

Mind Set at the Time of Interview

Voice Module / Body Language at the time face to face

Other Necessary Interview Tech

FAQ’s

Tickets and Issues

 


Top 50 SAP FICO Interview Questions

Top 50 important SAP FICO interview questions and answers covers all important questions on General ledger accounting (G/L), Accounts Payable (AP), Accounts Receivable (A/R), Bank accounting, etc.

What is SAP FI module?

Answer – SAP FICO stand for Financial Accounting (FI) and Controlling, where SAP FI and CO module represents two separate set of books. The acronym “Accounting” is now become popular as it used to record day-to-day business transactions for various purpose. You can broadly divide accounting information users as Internal users and External users. 

  • SAP FI (Financial Accounting) is used for external accounting perspective, where financial statements like Balance Sheets, Profit & Loss statements are extracted and used for external reporting.
  • SAP CO (Controlling) module is used for internal accounting perspective.

How SAP FI helps an Organization?

SAP FI application helps to meet the financial accounting requirements and financial needs of an organization. Financial Accounting module helps in

  • Records all the business transactions on daily basis as per document principle and provides the financial statements as per requirements.
  • The postings done is sub-ledgers are automatically updated to corresponding general ledger accounts.
  • Organizational financial decisions are done based on SAP FICO financial statements.
  • Preparation of operational information to make strategic decisions, Tactical decisions and Operational decisions with in the organization.

What is SAP CO module?

Answer – The following link clearly describes what is SAP controlling module?

What is Credit Control Area?

In SAP, Credit control area control the credit limit of customers.

Difference between company and company code

  • Company is a highest level of organizational unit used to consolidate all the financial reports of several company codes. It consists one or more company codes.
  • Company code is a smallest entity for which you draw financial reports for external reporting purpose.

What is the importance of special posting periods?

In Fiscal year, there will be total 16 posting periods, out of which 12 are normal periods and remaining 4 are special periods. Special posting periods are used for the adjustments of books, taxes, audits, etc.

What is Fiscal Year Variant?

The fiscal year represents financial accounting period. Generally, business transactions take place with 12 month periods (Jan- Dec). In SAP Fiscal year variant defines the accounting posting periods of an organization.

What is Open and close posting periods?

Open and Close Posting periods determines and controls which accounts are allowed or close for postings for a specific period of time. Generally current posting period is open for document posting and remaining periods will be in closes status.

How to open and close posting periods?

Posting period variant (PPV) is used open and close posting periods as per Account types (+, D, K, A). Transaction code is OB52.

What is a business area?

Business area represents specific business segments or area of company.

What is chart of accounts (COA)? and list the major components of Chart of Accounts.

Chart of accounts is a list of general ledger (G/L) accounts that are used in single or more company codes. Every G/L account in COA will have account number, name and controlling details.

The important components are

  • Chart of accounts key
  • Description
  • Language Maintenance
  • Length of G/L account Number
  • Controlling Integration
  • Group chart of accounts for consolidation
  • Block key

Difference between Operating chart of accounts and Group chart of accounts

  • Operating chart of accounts is also called as standard chart of accounts. It is used to post daily basis transactions.
  • Group chart of accounts is also called ad “Corporate chart of accounts. It contains G/L accounts applicable to all company codes in Group and used to consolidate all company code for reporting.

What happens when you post document to financial year 2015 when you are in 2016?

First of all, to post a transaction in previous year, e.g. year 2015 when you are in 2016, the relevant posting period should be open. When posting are done, the system make adjustments in background.

Is it possible to post to a customer a/c in previously closed period?

No, it is not possible to post transactions to a customer account in previously closed periods. We can post for G/L account but in case of sub-ledger a/c (customer a/c) it has be process via opening and closing the account interval of “reconciliation account” of that account type.

How to carry forward Account Balances?

  • If you have already posted in to new fiscal year, the account balances are automatically carry-forward.
  • By using Carry-Forward” program you can do this task manually.

What you prefer internal number ranges or external number ranges?

According my opinion, I refer internal number ranges because-

  • Internal number ranges enables the SAP system to generate the document number automatically in serial order based on number range intervals.
  • With External Number ranges – The user is required to enter document number manually while entering a transaction. The SAP system wont generate the number automatically.

internal number ranges or external number ranges

After document is posted, is it possible to delete document entries?

No it is not possible to delete document entries after posting a documents. But you can edit the entries such as text fields, etc.

Explain how many retained earning accounts in SAP can be defined? 

We can maintain many retained earnings A/C as per requirements. Generally one retained earnings A/C is sufficient. If you are configuring for a multinational company where the legal requirements as the tax provisions differ from country to country. In this case we need  more than one Retained Earnings a/c.

How many currencies can be configured for a company code in SAP?

You can assign 3 currencies for a company code.

  • One local currency (Company code currency)
  • Two parallel currencies

What is Posting Key? and what does it control?

  • Posting key is a two digits alphanumeric key that control document entry of line items.
  • It determines account types, debit/credit entry, etc.

What is Field Status Group (FSG) and what does it control?

Field status group controls what are the field to be display, optional, required and suppress on transactions.

What is Account group and what does it control?

Account group determines which fields you can maintain on general ledger master record. It control number ranges of G/L.

What are residual payments and Part Payment?

This situation occurs when you don’t receive the full amount against the invoice value.

  • Residual payment means clearing the original invoice value with incoming payment and creates new open line item for remaining outstanding amount.
  • Part Payment means leaving the original invoice value and create new open line items for incoming amount Both invoice entry and payment entry appears as open item.
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