FI/CO Interview Questions

FI/CO Interview Questions

What is APC?
APC stands for Acquisition and Production costs. Acquisition means any asset which you may acquire/ purchase externally. It includes invoice price and other related exp. Associated with it like customs, octroi, freight which  you add and arrive at total cost of acquisition for capitalisation of the asset.For ex Say a computer. The total cost which you incurr for the acquisition of the computer including installation will be your APC
Production cost means any asset which is created internally within the organisation. This is normally created by means of AUC and you go on adding cost to the AUC as and when you incurr exp. for the same.For ex. say addition to the office building. Therefore APC incudes any external acquisition or internal construction of exp. which needs to be capitalised.
In OADB  under 01 deprn area Acquisition & prod Cost tick is activated.   *-- Marazban D. Dalal
This is umapathy, I have intereview tomorrow, if anybody have taken interview with any company, kindly let me know what the questions they will be asking, how will be the interview. How the questions will be on configuration, implementation side and other questions plz.. share with me.
Pl. prepare yourself on the following broad lines:
Implementation exp.: 
Brief about the project you did: w.r.t. the main activity of the client, How many plants they had, What modules were implemented, Who were the implementers, What’s the implementation team size, How many were in your module team, What’s your role in the project with respect to the activities you partook in the project, The Enterprise Structure with regard to the no. of Company Codes, any Business Areas or Profit Centers defined, Cost Centers defined, What’s the period of the project, When did they Go-Live?, Any issues you’d solved during ‘Support’ phase?
Questions on conceptual understanding:
a)      SAP R/3 definition and 3-Tier Architecture
b)      ‘Real time integration’ advantage of SAP
c)      ASAP methodology
d)      Solution Manager
e)      Client / Company / Company Code / Business Area
f)       Business Area vs Profit Center Approach
g)      How effective will be the Financial Statements generated through Business Areas
h)      With Holding Taxes vs Extended WHT
i)       Field Status Concepts (G/L master fields controlled through Account Group and Document entry through Field Status Group set in the G/L master)
j)       Special G/L transactions
k)      Open item management
l)       Reconciliation Accounts
m)    Subsidiary Ledgers
n)      Sort key
o)      Negative Postings Allowed
p)      Special periods
q)      Only balances in local currency
r)       Important Posting keys for G/L, A/R, A/P, AA, Stock Entries
s)       Assessment vs Distribution
t)       Org. Structure for FI
u)      Org. Structure for CO
v)      Product Costing: How the values flow in the system
Configuration:
a)      Extended With Holding Taxes configuration steps – right from creation of WH Tax Types, Codes to Annual Return
b)      FI-MM Integration (OBYC configuration with particular reference to Off-Setting entries)
c)      FI-SD integration
d)      Down Payments transactions
e)      Interest – Balances / Arrears
f)       Asset Accounting: Asset Class, Main Asset, Sub-Asset, Group Asset, Dep. Areas, Dep. Key, Transaction No.s (100- External acquisition, 210 – Retirement with Revenue, etc.), Imp. Transaction Codes. 
General questions:
a)      Educational Background
b)      What influenced you to go in for SAP career?
c)      Functional Career
d)      Present earnings vs Expected pay
e)      Inclination to relocate

SAF FI Technical Interview Questions 1

1. Tell me about FI Organizational structure?
Ans:     Client
               |
      Operating Concern
               |
Controlling area1       Controlling Area 2
         |
Co. Code 1 Co. Code 2
    |
Bus area 1  Bus area2  Bus Area3  Bus Area 4
2. How many Normal and Special periods will be there in fiscal year, why do u use special periods?
Ans: 12 Normal posting period and 4 special periods are in the fiscal year which can be used for posting tax and audit adjustments to a closed fiscal year.
3.Where do you open and close periods?
Ans: PPV is used to open and close the periods based on a/c types considering GL Accounts. Tr. Code. OB52.
4.What do you enter in Company code Global settings?
Ans: 4 digit Alphanumeric key.
Name of the company
City
Country
Currency
Language
Address
5.What is document type, and what does it control? Examples.
Ans: Document type is nothing vouchers containing line items. Several business transac! tions can be identified within a particular document type.
It controls the document number ranges.
It controls the Header part of document
IT controls the line item level of the document
Helps filing of physical document 
6. What is posting key and what does it control?
Ans: These are special classification keys. Two character numerical key it controls the entry of line items.
Posting key determines Account type, Debit/credit posting, Field status of transaction.
7. What is field status group, what does it control? 
Ans: FSG is mandatory field in ! GL Creation. You use this field to define which fields are displayed when you post business transactions to a G/L account. 
A field may have one of the following statuses.
- Suppressed
- Display
- Optional
- Required
8. What is chart of account and how many charts of accounts can be assigned to a company?
Ans: Chart of account is a list of all G/L accounts used by one or several company codes.
For each G/L account, the chart of accounts contains the account number, account name, and the information that controls how an account functions and how a G/L account is created in a Company code.
You have to assign a chart of accounts to each company code. This chart of accounts is the Operating chart of accounts and is used for the daily postings in this company code.
You have the following options when using multiple company codes.
You can use the same chart of accounts for all company codes
If the company codes all have the same requirements for the chart of accounts set up, assign all of the individual company codes to the same chart of accounts. This could be the case if all company codes are in the same country.
In addition to the operating chart of accounts, you can use two additional charts of accounts If the individual company codes need different charts of accounts, you can assign up to two charts of accounts in addition to the operating chart of accounts. This could be the case if company codes lie in multiple countries.
The use of different charts of accounts has no effect on the balance sheet and profit and loss statement. When creating the balance sheet or the profit and loss statement, you can choose whether to balance the co! mpany codes which use different charts of accounts together or separately.
9. What does definition of a chart of account contains?
Ans: chart of account key
Name
Maintenance language
Length of the GL Account Number
Controlling Integration
Group chart of accounts (Consolidation)
Block Indicator
10. Can one COA be assigned to several companies?
Ans: yes. One COA can be assigned to several companies.
11) What is account group and what does it control? 
Ans: Account group determines which fields you can configure on the G/L master record. It is necessary to have at least two one for B/S and another one for P&L a/c.
It controls the Number ranges of GL A/C.
The status of fields of the master record of GL belongs to company code area.
12) What is reconciliation account; can you directly enter documents in that a/c?
Ans: When you p! ost items to a subsidiary ledger, the system automatically posts the same data to the general ledger. Each subsidiary ledger has one or more reconciliation accounts in the general ledger. 
We can’t use reconciliation account for direct postings.
13) How do you control field status of GL master records and from where do you control! 
Ans: Field status variant is maintained all FSGs.
14) What are the segments of GL master record?
Ans:
- COA Segment
A/C group
Nature of account
Short text
GL a/c long text
Trading partner
Group Account Number
-  Company code segment
Account currency
Tax
Reconciliation a/c for a/c type
OIM,LID,FSG.
15) What does Field status group assigned to a GL master record controls?
Ans: It controls the account assignments that are made to the account. Specifically the field status group controls whether postings to cost centers, internal orders, profitability segments and so on are required, not allowed (suppressed), or optional.
16) What is Country and operational chart of account? Why do you use group chart of account?
Ans: Operational chart of account – Day to day activities It is mandatory.
Country COA – It’s used for legal specific requirement of each country. It’s additional and optional.
Group COA used for consolidation of Company codes. This is for group consolidation purpose.
17) What are all the segments in a Customer/Vendor master record?
Ans: Segments in Customer           Segments in Vendor
-      General Data segment            General data segment
-      Company code segment         Company code segment
-      Sales area segment                 Purchasing organization Segment
18) What is open line item management? What do you mean by clearing open line items?
Ans: Open item management is further reconciliation function. OIM allows you to display the open and cleared items and amounts in an account. OIM should be used if an offsetting entry is made for every line item posted in the account. The a/c is reconciled and cleared against another account. Ex. Salary clearing account and GR/IR Clearing account.
19) What is residual payment and part payment?
Ans: Residual payment it clears original invoice with incoming amount and create new line item for remaining outstanding amount.
Partial payment it leaves the original invoice amount and creates new
line item for incoming amount.
20) What is internal and external number ranges?
Ans: Internal Number Ranges: Doc. No will be provided by the system automatically in serial order allotting the next available progressive number. The number must be in numerical.
External Number ranges: Doc. No will be given manually by the end user. System will not lock no automatically in this case. User can pick the number randomly. Number may be an alpha numeric.      

SAF FI Technical Interview Questions 2

1.  How can be or in what way baseline date is important in Automatic Payment Program run? 
The Baseline date is used to calculate the due date by taking into account the payment terms. On the APP, the baseline date helps to pick the relevant invoices for payment. During the APP run when invoices are pulled into the run, the system checks the ‘Next Payment Date’ before picking the invoices to be paid. 
 2.  Please tell me the procurement cycle how it works?
Procurement cycle – a sales order is placed on a requirement made by a customer, after which it is passed on to create a purchase order (this could either happen based on the requirements on the SO, or a planned SO). the value flow gets passed on to FI at the time of goods movement. In the case of SD, the impact on FI happens only at the time of billing.
 3.  Difference between Depreciation ,Accumulated Depreciation and APC?
      What is APC?
Depreciation – a decrease in the value of an asset due to wear and tear 
Accumulated Depreciation – the total amount of depreciation calculated on a particular asset. 
APC – refers to Asset transactions other than depreciation 
 4.  What is GR/IR?What  journal entries we should pass for this?
The GR/IR – the goods receipt/Invoice Receipt account is used to post to whenever goods that are not yet invoiced have been received or when invoices arrive b4 the the delivery of goods.
During the time between the invoice being created and delivery of goods, there can be a timing difference, in order to accommodate this timing difference, a GR/IR account is maintained temporarily to record the flow .
 5. What are the  accounting  entries take place in MM and SD?
Value from MM to FI is defined in OBYC…. on the material master the flow of values are assigned on the Costing, acctg, etc tabs where the system helps to post the necessary stock values into the appropriate GL accounts. helps to determine, the GL accounts updated when there is a movement of goods. 
SD-FI - VKOA
 6. Can we assign one Controlling area to two different Company Codes (but the company codes having different 
     fiscal years/different currencies 
Company code should have same financial year,  may have different currencies.
You can assign 2 or more company codes  to one controlling area as long as the chart of accounts are same. Furthermore, if you have different fiscal year variant in the company code, then make sure that the number of period remain the same.
 7.  While posting transaction, can we give cost centre / production order at time.
Yes it is posiiable , but in such situation cost centre will be real and production order is stastical.
If you assign both cost center and Prd Order then since Prod. Order are real co object, Cost center entry would be statistical.
 8.  Which Master data uploads will be done?
The question is not very clear. If you are talking about CO Master data. Then Cost center need to be uploaded. You can use Data Transfer Workbench or write abap for it.
 9.  Can we run Payment Programe giving ( Hdfc  vendor detailes ) City bank in Payment run programe?
Yes can be possible , this can resolved through ranking order and bank optimization in FBZP.
You use use further selection in proposal paramater, if you would like to filter the open item based on the city
10.  What does document header control?
Field status.
11. After entering a document can you delete the entry? Can you change the document? 
      Which fields’ can/not is changed?
Document header cannont be changed, after posting the document you cannot  change. only if you want to change the document the reseversal entry.
12. What is a special GL transaction?
The transaction other than A/P and A/R is called the special g/l transaction for ex: Bills of exchange, Interest payable , aqusition
13. How do you reverse cleared documents?
By doing reversal posting.
14.  What is base line date? Why is that used? Can this be changed?
For paymentterms it is used. base line date is the due date.
15. How many statistical objects can be selected in when you post an FI document?
      Where CCtr, PCtr, OM are active?
Only two.