Amrit Cement SAP Fico Consultant Interview Questions and Answers

The chart of accounts is a list of all the accounts used by an organization to record financial transactions.

• It is a structured list of all the accounts used by an organization

• It provides a framework for organizing financial transactions

• It helps in the preparation of financial statements

• It is unique to each organization and can be customized to meet their specific needs

P2P cycle in SAP refers to the Procure-to-Pay cycle which involves the process of procuring goods and services and paying for them.

• The cycle starts with the creation of a purchase requisition

• The purchase requisition is then converted into a purchase order

• Goods or services are received and verified against the purchase order

• Invoice is received and matched against the purchase order and goods receipt

• Payment is made to th...read more

Company is a legal entity while company code is a sub-division of a company used for financial reporting.

• Company is a legal entity that can have multiple company codes

• Company code is a sub-division of a company used for financial reporting

• A company can have multiple company codes for different business areas

• Company code is assigned to a chart of accounts and a fiscal year variant

• Transactions are posted at the company c

SAP is an ERP software used for managing business operations. Fiscal year variant determines the financial year of a company. Document type is used to classify accounting transactions. Chart of accounts is a list of all G/L accounts used by a company. PtoP cycle refers to the procurement process. Asset procurement is the process of acquiring assets for a company. Document splitting is used to split a document into mult...read more