Fico Exam Paper

7/31/2019 Fico Exam Paper

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FICO Exam

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Paper Marks

Name : Kinnary Thakkar

Each Question is of 2 Marks

You can Use System where ever required

Which are Major Organizational Elements for SAP FI

1. Company

2. Company code, 3. Chart of accounts, 4. Business Area

Which are Major Organizational Elements for SAP CO

Controlling provides you with information for management decision-making. If facilitates co-ordination,

monitoring and optimization of all process in an organization. Major elements of controlling are as follows :-

Cost Center Accounting, Activity Based Accounting, Internal Orders, Product Costing, & Profitability Analysis

Write the Steps for Creation of one of Organizational Elements of FI

IMG →Enterprise Structure→definition→Financial Accounting →define company

What are Full Names of following Abbrevations in SAP?

FSV - Financial Statement Version

CC - Company Code

COA - Chart of Accounts

CA - Controlling area

PC - Profit Center

How Many Company can Company code be Assigned

A company can consist of one or more company codes. But only one company can be assigned a single companycode.

How Many Chart of Accounts can a Company code have

A single Company code can have only one Chart of Account assigned to it.

What are Account Groups ?

Account Groups determine which fields you can configure on the general Ledger Master record. It is necessary to

have at least 2 account groups, one for Balance sheet and one for the Income statement accounts.

Explain the Term Fiscal Year Variant?

Fiscal Year Variant determines the posting periods to be used by your client's company. Fiscal year variant should

be configured to match the client's accounting year. SAP allows maximum of 16 postings within a fiscal year.

The fiscal year variant is very flexible and can be configured to match any organization's fiscal year.

What are Financial Statement Versions? Can we have Multiple Financial Statement Version for a Company?

Financial Statement Versions means a hierarchical positioning of G/L accounts and this positioning can be based

on specific legal requirements for creating financial statements.

A FSV (Financial Statement Version) is a reporting tool and can be used to depict the manner in which the

financial accounts like Profit and Loss Account and Balance Sheet needs to be extracted from SAP. It is freely

definable and multiple FSV's can be defined for generating the output for various external agencies



What is the transaction code for creation of GL Account

FS01

Can we use same Chart of Accounts for Multiple Company codes ?

Yes, we can use same Chart of Accounts for all/multiple company codes.

Briefly Explain why we create Customer Account - Vendor Account Groups ?

On the customer master there is a field “vendor” and likewise on the vendor master there is a field “customer”.

By entering these master data numbers, a link can be created between the AP/AR subledgers for use in the

payment program, during routine and the clearing of open items.

For example in the payment program, if a specific business partner is your vendor but also your customer, linking

their master records together will allow the open AR invoices to be offset against the outstanding AP invoices.

What is the transaction code for Opening and Closing of Financial Period ?

OB52

In which Organizational Element of FICO is Segment assgined ?

Controlling area- Cost center controlling and Profit center, we assign segments.

Can we have Multiple Profit Centre for a Cost Centre ?

Yes

State the Path for Blocking GL Account ?

IMG →Enterprise Structure→definition→Financial Accounting →General Ledger accounting→Master Records→ Individual Processing

State the Step to Step Configuration node for Automatic Payments ?

House banks → Payment Program → set up all company codes for payment transaction → set up paying company

code for payment transactions → setting up paying methods as per company codes → set up bank determination

for payment transactions.

State the Step to Step Procedure for running Automatic Payments ?

Run date → Identification number → status → enter the parameter → Payment run → Payment proposal has been

created → accounting clerks → payments being made with automatic payment program.

Which are CO Objects in SAP ?

Cost object is nthing but a cost r revenue collectior in SAP. Every P&L posting must be assigned to a Cost Object.

Cost Object includes Cost center,Interal Order, WBS element, Sales order. Cost object is a key concept of

SAP controlling.

In which case SAP Posting demands for a CO Objects ?

During the creation of cost center.

State the Step to Step Configuration nodes for Withholding Tax ?



IMG→Financial Accounting→Financial Accunting global settings→Withholing tax

Can I assign a Tax Procedure to a Company Code ?

YES

What are different Types of Tax Codes ?

The Tax Code is a 2-digit code specifying the percentage of tax to be calculated on the base amount. While

defining the tax code, you will also specify the ‘Tax Type’ to classify a tax code relating to either ‘Input Tax’ or

‘Output Tax.’ The tax types are country specific and determine how a tax is calculated and posted.

State Transaction code for Defining Tax Code ?

FTXP

Integration Questions ?

State in which case a Accounting Document will get generated in following events?

Creation of Indent in MM Module

Creation of Purchase order in MM Module

Creation of GRN - Accounting Document

Goods Issue of Material

Creation of Sales Order in SD Module

Creation of Delivery in SD Module

Creation of Invoice in SD Module



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