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SAP FICO Interview Questions and Answers

Explain the term SAP FICO?

SAP FICO stands for FI ( Financial Accounting) and CO (controlling). In SAP FICO, SAP FI take cares about accounting, preparation of financial statements, tax computations etc, while SAP CO take cares of inter orders, cost sheet, inventory sheet, cost allocations etc. It is the software that stores data, and also computes them and retrieves the result based on the current marketing scenario. SAP FICO prevents data lost and also does the verification and reporting of data.

How can you use the additional log in the AP payment program for troubleshooting?

Any errors in a payments run, regardless of the reason, are reported in the additional log, allowing corrections to be made rapidly, reducing error rates.

Where can you use the internal order?

To track the cost, internal orders are used; they are proposed to be incurred over on a short term basis.

Describe the relationship between cost center accounting and profit center.

Cost centers allow companies to capture all costs related to daily businesses operations, generally excluding unavoidable monthly expenses like rent or utilities. Administrative, entertainment, food and other expenses fall under this heading. Profit centers capture data related to both cost and revenue, showing how much each dollar of profit costs to generate.

What are the other modules to which ‘Financial Accounting’ is integrated?

The other modules to which ‘Financial Accounting’ is integrated are

  • Sales and Distribution
  • Material Management
  • Human Resource
  • Production Planning
  • Controlling of financial transaction
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