General SAP FICO Questions:
1. What is SAP FICO?
Explain that SAP FICO stands for SAP Financial Accounting (FI) and Controlling (CO)
and describe its main functions.
2. What are the main components of SAP FI?
Highlight components like General Ledger (GL), Accounts Payable (AP), Accounts
Receivable (AR), Asset Accounting (AA), and Bank Accounting.
3. What are the main components of SAP CO?
Mention Cost Element Accounting, Cost Center Accounting, Internal Orders, Profit
Center Accounting, and Product Costing.
4. What is the difference between FI and CO?
FI is for external financial reporting (legal requirements), while CO is for internal
management and cost control.
5. What is a Chart of Accounts (COA)?
Define COA as a list of all General Ledger accounts used by a company.
6. What is the difference between a company and a company code in SAP?
A company is the top organizational structure in SAP, while a company code represents
an independent legal entity for which financial statements are created.
7. What is a fiscal year variant in SAP?
Explain that a fiscal year variant defines the fiscal year, including periods (e.g., 12
months or 4 quarters), and how the fiscal year is split for reporting.
8. What is a posting period?
It is a time frame during which financial transactions can be posted. There can be
multiple posting periods in a fiscal year.
Technical SAP FICO Questions:
9. What is a document type in SAP?
Document types classify accounting documents (e.g., invoices, payments) and determine
number ranges and account types.
10. What is the purpose of the ‘posting key’ in SAP?
Posting keys control whether the line item is a debit or credit, and specify the type of
account (GL, customer, vendor, etc.).
11. What is the importance of the reconciliation account?
Reconciliation accounts ensure real-time integration between sub-ledgers (e.g., Accounts
Payable) and the General Ledger.
12. What is a “GL Master Record”?
The GL master record contains all relevant data about a particular General Ledger account,
such as account type, currency, and control information.
13. Explain the process of “Automatic Payment Program (APP)” in SAP.
APP automates payments to vendors and customers, including processing, payment
proposal generation, and payment execution.
14. What is the purpose of a “Field Status Group”?
Field status groups control the fields that appear during document posting and whether they
are mandatory, optional, or suppressed.
15. What is the use of the SAP FI “Open Item Management” feature?
Describe its use in tracking transactions that need to be cleared at a future date.
16. What is a foreign currency valuation in SAP FI?
Explain how SAP handles transactions in foreign currencies.
17. How do you configure automatic payment programs in SAP FI?
Give an overview of the steps to configure payments for vendors or customers.
18. What is a dunning process in SAP FI?
Explain how dunning helps in managing overdue customer payments.
19. What is the role of the controlling area in SAP CO?
Describe how it helps manage and report cost-related activities.
20. What is a company code in SAP?
Explain its significance and why it’s required.
21. What is a chart of accounts? How many types are there in SAP?
Discuss operational, group, and country-specific charts of accounts.
Describe how it helps in controlling account creation and assignment.
22. What is a document type in SAP FI?
Explain the role of document types in differentiating various accounting transactions.
23. What is the difference between a credit and debit in SAP FI?
Provide a basic definition of credit and debit in the accounting context.
24. What is a posting key?
Explain how posting keys control whether an account is debited or credited.
25. What are the types of special G/L transactions in SAP FI?
Explain items like down payments, bills of exchange, and guarantees.
26. What are the components of SAP CO?
Cost Element Accounting, Cost Center Accounting, Internal Orders, Profit Center
Accounting, and Profitability Analysis.
27. What is Cost Center Accounting?
Explain how cost centers help in tracking where costs are incurred.
28. What is a Profit Center?
Describe how it helps in tracking revenue and profitability.
29. What is internal order?
Explain its role in tracking specific projects or jobs.
30. What is the difference between cost center and profit center?
Explain how cost centers focus on costs, while profit centers focus on both revenues and
costs.
31. What is the difference between a company code and a business area?
32. What is a fiscal year variant?
33. What are the key components of SAP FICO?
34. What is the posting period in SAP FICO?
35. What is the purpose of document splitting in SAP FICO?
36. Explain the concept of reconciliation accounts in SAP FI.
37. What is asset accounting?
38. What are the different types of depreciation in asset accounting?
39. Explain the concept of parallel accounting in SAP FI.
40. What is the difference between held, parked, and recurring documents in SAP FI?
41. What is the purpose of an account group in SAP?
