The Financial Accounting module gives you the capability to enhance the strategic decision-making processes for your company's financial needs. It allows companies to centrally manage financial accounting data within an international framework of multiple companies, languages, currencies, and charts of accounts.
Practical and helpful SAP FI Stuff to assist those supporting the SAP Financial Accounting Modules. There are also sample questions and answers, interview questions, faq, importable tables on the SAP FICO module. If you have any SAP Financial Accounting and Controlling question, please feel free to raise it in the SAP FI/CO Forum.
The Financial Accounting (FI) application component fulfills all the international requirements that must be met by the financial accounting department of an organization. All accounting-relevant transactions made in Logistics (LO) or Human Resources (HR) components are posted real-time to Financial Accounting by means of automatic account determination. This data can also be passed on to Controlling (CO).
This ensures that logistical goods movements (such as goods receipts and goods issues) are exactly reflected in the value-based updates in accounting.
Q.How can I find out the GL accounts of Profit & Loss type for which Cost Elements have not been created? Is there a standard report to throw these exceptions? What is the best control to ensure that cost element is created for all expense accounts in GL?
A. Well, the first thing that comes to mind is just download the GL Accounts, download Cost Elements and do a quick VLookup in Excel. That will tell you. That'll take you about 5 minutes or so.
(OR)
You could try this respective transactions: OKB2; OKB3; and SM35
To prevent creating of GL P&L items without creating the cost elements on 4.6 / 4.7 there is an option to allow the automatic creation of Cost Elements whenever a G/L account is created in a Company Code. i.e. It does not create when an account is created at the Chart of Accounts Level, only when it is created in a Company Code.
To do this;
// Financial Accounting // General ledger Accounting // G/L Accounts // Master Records // Preparations // Edit Chart of Accounts List // Select the Chart of Accounts then;
Integration // Controlling Integration // then I'll let you guess.
Also, you need to specify within controlling which account ranges should be created under which Cost Element Category; // Controlling // Cost Element Accounting // Master Data // Cost Elements // Automatic Creation of Primary and Secondary Cost Elements // *.*
If this was configured, you could also create a batch file now that would catch up with any cost elements not yet created.
Q.What is APC?
APC stands for Acquisition and Production costs. Acquisition means any asset which you may acquire/ purchase externally. It includes invoice price and other related exp. Associated with it like customs, octroi, freight which you add and arrive at total cost of acquisition for capitalisation of the asset.For ex Say a computer. The total cost which you incurr for the acquisition of the computer including installation will be your APC
APC stands for Acquisition and Production costs. Acquisition means any asset which you may acquire/ purchase externally. It includes invoice price and other related exp. Associated with it like customs, octroi, freight which you add and arrive at total cost of acquisition for capitalisation of the asset.For ex Say a computer. The total cost which you incurr for the acquisition of the computer including installation will be your APC
Production cost means any asset which is created internally within the organisation. This is normally created by means of AUC and you go on adding cost to the AUC as and when you incurr exp. for the same.For ex. say addition to the office building. Therefore APC incudes any external acquisition or internal construction of exp. which needs to be capitalised.
Q. I have intereview tomorrow, if anybody have taken interview with any company, kindly let me know what the questions they will be asking, how will be the interview. How the questions will be on configuration, implementation side and other questions plz.. share with me.
A. prepare yourself on the following broad lines:
Implementation exp.:
Brief about the project you did: w.r.t. the main activity of the client, How many plants they had, What modules were implemented, Who were the implementers, What’s the implementation team size, How many were in your module team, What’s your role in the project with respect to the activities you partook in the project, The Enterprise Structure with regard to the no. of Company Codes, any Business Areas or Profit Centers defined, Cost Centers defined, What’s the period of the project, When did they Go-Live?, Any issues you’d solved during ‘Support’ phase?
Questions on conceptual understanding:
a) SAP R/3 definition and 3-Tier Architecture
b) ‘Real time integration’ advantage of SAP
c) ASAP methodology
d) Solution Manager
e) Client / Company / Company Code / Business Area
f) Business Area vs Profit Center Approach
g) How effective will be the Financial Statements generated through Business Areas
h) With Holding Taxes vs Extended WHT
i) Field Status Concepts (G/L master fields controlled through Account Group and Document entry through Field Status Group set in the G/L master)
j) Special G/L transactions
k) Open item management
l) Reconciliation Accounts
m) Subsidiary Ledgers
n) Sort key
o) Negative Postings Allowed
p) Special periods
q) Only balances in local currency
r) Important Posting keys for G/L, A/R, A/P, AA, Stock Entries
s) Assessment vs Distribution
t) Org. Structure for FI
u) Org. Structure for CO
v) Product Costing: How the values flow in the system
Configuration:
a) Extended With Holding Taxes configuration steps – right from creation of WH Tax Types, Codes to Annual Return
b) FI-MM Integration (OBYC configuration with particular reference to Off-Setting entries) c) FI-SD integration
d) Down Payments transactions
e) Interest – Balances / Arrears
f) Asset Accounting: Asset Class, Main Asset, Sub-Asset, Group Asset, Dep. Areas, Dep. Key, Transaction No.s (100- External acquisition, 210 – Retirement with Revenue, etc.), Imp. Transaction Codes.
General questions:
a) Educational Background
b) What influenced you to go in for SAP career?
c) Functional Career
d) Present earnings vs Expected pay
e) Inclination to relocate
