Cracking an interview can be crucial for beginners. Due to being no or less experienced, it becomes hard to presume what the employer is going to ask. Thus, I come up with this list of SAP FICO interview questions for freshers.
It will give you a fair idea about the type of questions you may have during your interview. Additionally, it will serve as a guide for further preparation to build a strong SAP FICO career.
Also, these are the basic conceptual topics that interviewers expect the candidate to know. Hence, they keep such SAP FICO Interview Questions for freshers as well as n for experienced candidates in their question book.
Below is a key list of SAP FICO Interview Questions for freshers and end-users or new consultants. It would help you to prepare for an SAP FICO interview and also get more information on FICO topics.
Also, SAP FICO still possess high popularity. Though we already had SAP S/4HANA Finance, still SAP FICO has significant value and a good number of vacancies still come up for SAP FICO consultants. So, let us move ahead and see a variety of SAP FICO Interview Questions for Freshers.
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We can make a scheduling agreement for consignment, subcontracting and stock transfer. Likewise, we can make a contract (also called blanket PO), for standard items and can restrict it to value for Quantity.
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We can adjust the scrap or the process loss while doing a quality inspection of the material received after subcontracting.
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The consignment cycle is similar to a standard purchase cycle. The difference is that the system does not create accounting documents at the time of goods receipt. Though it only updates the quantity. It is settled once the same is utilized.
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The following are the types of stocks:
You may be interested in: SAP Controlling Interview Questions
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Condition type has an access sequence assigned to it which determines which tables to access for data and in what sequence. This has a sequence of tables based on the most specific to most generic. Thus, we can use it for any new condition type creation.
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We can create a movement type using the T Code OMJJ. Further, copying an existing movement type and modifying the field contents can create a new movement type.
Additionally, the SAP system comes with some pre-defined movement types from 100 to 899.
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The fields in the Purchasing view are the following:
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A stock transfer from plant to plant generally takes within a company code. It can, however, also take place between two company codes. This is in case we have assigned the plants to different valuation areas, which belong to different company codes.
Like a stock transfer from the storage location to the storage location, a stock transfer from plant to plant affects both Accounting and Materials Planning as follows:
Accounting – Accounting is affected if both plants are assigned to different valuation areas. This means that a stock transfer leads not only to a quantity update but also to a value update ( stock value/ GL accounts). Thus parallel to material documents for stock transfer, we can create an accounting document.
Material Planning- Material Planning is affected because a change in plant stock is taken into account by Materials Planning.
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LSMW – EDI programmers widely use Legacy System Migration Workbench. EDI programmers connect the SAP system to Non SAP system. During this Data, migration is a necessity when data migrates from source to destination the destination code is different from the source code. So that LSMW does is converts the data into source code batch files) And then migrates data. We use Standard interfaces like BAPI or IDOC in this process.
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Difference between the business area and profit centre:
Related: SAP FICO Interview Questions on Profit Center Accounting
Do You Know: Which are the two other modules that get along with Finance and get a place in the hit list of SAP FICO interview questions for freshers?
It is MM (Material Management) and SD (Sales & Distribution).
Also Read: SAP FICO Interview Questions on Bank Accounts, Fixed Assets, FI-MM, and FI-SD integration
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By using transaction code OBYC we can get the details of MM and FICO integration.
It helps to determine, that the GL accounts are updated when there is a movement of goods.
Also Read: Overview of SAP MM
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ABAP is an application program that retrieves data from the database and shows it to the end user with the help of the report. Out of three layers of SAP, the ABAPer position is on the Application layer in which SAP programs are developed and then transported to the production server.
Workbench– The ABAP Workbench contains several tools that allow you to edit specific repository objects like ABAP Editor, Manu Painters, etc.
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SAP is the integration of all the modules. It connects from manufacturing the product/goods/services to reaching the customer.
Thus, all its transaction process depends on sales area, sales document, item proposals, shipping, delivery, and billing.
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In 1st case, it is called an intercompany stock transfer. The 2nd case is an intercompany stock transfer Order.
Stock Transfer between plants of the same company code only includes inventory movement without any pricing. While the so-called Stock Transfer between plants of different company codes is the same as a purchase order that flows along with the inventory.
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Manufacturing cost is a combination of Material Cost & Production Cost.
You Maybe Interested in: Standard Cost Estimate in SAP S/4HANA
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Follow the below steps for configuring an Electronic Bank Statement:
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Bank Reconciliation is an important topic in SAP FICO. Thus, this is one of the most frequently asked SAP FICO Interview Questions for freshers, End-Users, and FICO consultants.
(Watch Video on Bank Reconciliation)
Create Bank Master Data– You can create this through T Code /FIORI. Additionally, you can create House Bank through IMG/FA/Bank accounting/Bank account. See the Steps.
Related: Bank Account Management in SAP S/4HANA
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SAP APO stands for Advanced Planner and Optimizer. It is one area of FSCM and an application component of My SAP product. It is designed to provide solutions for companies in various areas. Such as:-
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It’s the priority assigned to each house bank. It helps the Automatic Payment Program choose the house bank for payment in case there is more than one bank satisfying the payment program.
Suppose a payment program ends up selecting more than one bank for payment (for example 3 banks). Then, the ranking of the banks helps it to select one bank from the list of 3 selected banks.
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Some organisations select to implement SAP module by module. Thus getting updated as per their convenience /schedule. This is called the updated project.
While some organizations plan all integrated functional modules and decide to GO-Live with all functional modules. They take their entire operations on SAP. This is called the End-to-End SAP implementation project.
You may be interested in: What is Brownfield and Greenfield Implementation?
You must prepare yourself theoretically as well as practice before appearing in SAP FICO or S/4 HANA Finance interview. For this, the best source is to read interview questions and answers. This helps you to clarify your doubts and answer your queries.
Also Read: Document Types in SAP FICO
Go Through: SAP S/4HANA Finance Training Detailed Syllabus
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