Advanced SAP FICO Interview Questions & Answers 2017 | Mindmajix

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If you're looking for SAP FICO Interview Questions, you are at right place. There are lot of opportunities from many reputed companies in the world. According to research SAP FICO has a market share of about 3.3%. So, You still have opportunity to move ahead in your career in SAP FICO. Mindmajix offers advanced SAP FICO Interview Questions that helps you in cracking your interview & acquire dream career.

Q. 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.

Q. 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

Q. In SAP FI what are the organizational elements?
The organizational elements in SAP FI are:

• Company Code
• Business Area
• Chart of Account
• Functional Area

Q. Explain what is posting key and what does it control?
In order to determine the transaction type which is entered in the line item, a two digit numerical is used known as ‘Posting Key’
Posting key determines

• Account Types
• Types of posting. Debit or Credit
• Field status of transaction

Q. What is the company code in SAP?
To generate financial statements like Profit and Loss statement, Balance sheets etc. company code is used.

For More Info click Here:: SAP FICO Interview Questions