Infosys Consulting SAP Fico Consultant Interview Questions and Answers

Q1. Explain about sap fico
Ans. 
SAP FICO is a module in SAP ERP that deals with financial accounting and controlling.
• SAP FICO stands for Financial Accounting (FI) and Controlling (CO)

• FI module deals with financial transactions, general ledger accounting, accounts payable and receivable, asset accounting, etc.

• CO module deals with cost center accounting, profit center accounting, internal orders, product costing, etc.

• SAP FICO integrates with other SAP ...read more
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Q2. What is chart of depreciation
Ans. 
Chart of depreciation is a list of depreciation areas and methods used to calculate depreciation for assets.
• It is a list of depreciation areas and methods

• It is used to calculate depreciation for assets

• It is specific to a company code

• It can be customized to meet specific business needs
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Q3. What are the other modules which financial accounting integrated
Ans. 
Financial accounting is integrated with other modules such as Controlling (CO), Materials Management (MM), Sales and Distribution (SD), and more.
• Controlling (CO) module is closely integrated with financial accounting to provide cost accounting and management accounting functionalities.

• Materials Management (MM) module is integrated with financial accounting to track and manage procurement and inventory costs.

• Sales and D...read more
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Q4. What is chart of accounts
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A 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 helps in organizing financial transactions

• It is used to prepare financial statements

• It can be customized to meet the specific needs of an organization

• It typically includes balance sheet and income statement accounts

• Example: Assets, Liabilities, ...read more
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Q5. How many currencies that can be configured for a company code
Ans. 
The number of currencies that can be configured for a company code depends on the SAP system settings and requirements.
• The number of currencies can vary based on the SAP system version and configuration.

• Typically, a company code can have a local currency and additional currencies for reporting or transaction purposes.

• The additional currencies can be used for consolidation, group reporting, or for handling foreign curre...read more
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Q6. What are the accounting principles
Ans. 
Accounting principles are the guidelines and rules that companies follow to prepare financial statements.
• Accounting principles include GAAP, IFRS, and SOX

• GAAP stands for Generally Accepted Accounting Principles and is used in the US

• IFRS stands for International Financial Reporting Standards and is used in many countries around the world

• SOX stands for Sarbanes-Oxley Act and is a US law that regulates financial reporting

• ...read more
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Q7. What is master data
Ans. 
Master data is the core data that is used as a base for transactional data in an organization.
• Master data is static data that is not frequently changed.

• It is used as a reference data for transactional data.

• Examples of master data include customer data, vendor data, material data, etc.

• Master data is maintained centrally and is shared across different departments in an organization.

• It is critical for accurate reporting a...read more
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Q8. What is the t code for park document
Ans. 
The t code for park document in SAP FICO is FBV0.
• FBV0 is used to park accounting documents in SAP FICO.

• Parked documents are temporary and can be edited before posting.

• This t code allows users to save incomplete or unbalanced documents for later processing.

• Once parked, the document can be reviewed, modified, or deleted before posting.
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Q9. What are end users does and What does consultant
Ans. 
End users use SAP FICO to perform daily business transactions, while consultants configure and customize the system to meet business requirements.
• End users perform daily business transactions such as creating purchase orders, processing invoices, and generating financial reports using SAP FICO.

• Consultants configure and customize the system to meet business requirements by setting up master data, defining business proce...read more
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Q10. Explain about distribution cycle and assessment cycle
Ans. 
Distribution cycle is used to allocate primary costs to cost centers while assessment cycle is used to allocate secondary costs.
• Distribution cycle is used to allocate primary costs to cost centers based on the cost element category.

• Assessment cycle is used to allocate secondary costs from one cost center to another based on the sender and receiver cost centers.

• Distribution cycle is executed before the assessment cycle.

• ...read more
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Q11. Explain about dunning
Ans. 
Dunning is the process of communicating with customers who have overdue payments.
• Dunning is a process of sending reminders to customers who have not paid their invoices on time.

• It involves sending letters, emails, or making phone calls to remind customers of their overdue payments.

• Dunning levels are set up to determine the frequency and severity of reminders based on the number of days past due.

• SAP FICO has a dunning p...read more
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Q12. What is open item management
Ans. 
Open item management is a method of managing accounts where individual transactions are tracked until they are cleared.
• Open items are transactions that are not yet settled or paid in full

• Each open item is tracked until it is matched with a corresponding transaction

• This method is commonly used in accounting to ensure accurate financial reporting

• Examples include unpaid invoices, outstanding checks, and unapplied payments
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Q13. Explain about p2p cycle and o2c cycle with entries
Ans. 
P2P cycle involves procurement of goods/services while O2C cycle involves sales of goods/services.
• P2P cycle: Purchase requisition -> Purchase order -> Goods receipt -> Invoice verification -> Payment

• O2C cycle: Sales order -> Delivery -> Invoice -> Payment

• P2P cycle entries: DR Inventory/Creditor, CR GR/IR, CR Vendor, DR Vendor/Cash/Bank

• O2C cycle entries: DR Customer, CR Sales, DR AR, CR Cash/Bank
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Q14. In sap what are the orgazational elements
Ans. 
Organizational elements in SAP are the basic building blocks of an organization's structure.
• Organizational elements include company code, plant, sales organization, distribution channel, and storage location.

• They are used to define the structure of an organization and to assign various business transactions to specific areas.

• Each organizational element has its own set of attributes and characteristics that determine it...read more
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Q15. Deference between the company and company code
Ans. 
The company represents the legal entity, while the company code represents the operational unit within the company.
• A company is the highest level of organizational structure in SAP, representing a legal entity.

• A company code is a sub-division of a company and represents an operational unit within the company.

• A company can have multiple company codes, each with its own set of books and financial statements.

• Company codes...read more
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Q16. What is foreign currency valuation
Ans. 
Foreign currency valuation is the process of adjusting the value of foreign currency transactions to reflect the current exchange rate.
• It is done to ensure accurate financial reporting

• It involves revaluing foreign currency assets and liabilities

• It can result in gains or losses depending on the exchange rate fluctuations

• It is usually done at the end of each accounting period

• SAP FICO has a foreign currency valuation func...read more
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Q17. What do you know about sap s4 hana
Ans. 
SAP S/4HANA is an intelligent, integrated ERP system that runs on an in-memory database, providing real-time insights and simplifying business processes.
• SAP S/4HANA is the next-generation business suite from SAP.

• It is built on the SAP HANA in-memory platform, allowing for real-time data processing and analytics.

• SAP S/4HANA offers a simplified data model, eliminating the need for traditional batch processing and data re...read more
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Trains, boat and strem, time and work, percentage, trignometry, geomentry etc.

Q1. Tell me about bank determination
Ans. 
Bank determination is the process of determining the appropriate bank account for a specific business transaction.
• Bank determination is a key functionality in SAP FICO module.

• It involves mapping various business transactions to specific bank accounts.

• Bank determination is based on various factors such as company code, payment method, country, and currency.

• Multiple bank accounts can be assigned to a single payment metho...read more
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Q2. Tell me about transaction keys in assest accounting
Ans. 
Transaction keys are used to identify different types of transactions in asset accounting.
• Transaction keys are used to record different types of transactions such as acquisition, retirement, transfer, and revaluation of assets.

• Each transaction key has a unique four-digit code that is used to identify the transaction type.

• Transaction keys are used to determine the general ledger accounts that are affected by the transac...read more
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Q1. What you learned in you skill set?
Ans. 
I have learned various skills in SAP Fico including configuration, customization, and integration with other modules.
• Configuration of SAP Fico modules

• Customization of reports and forms

• Integration with other SAP modules like MM and SD

• Understanding of financial processes and accounting principles
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Q2. What was the experience in respective Domain
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Q1. What is your salary expectation?
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Q2. Are you willing to relocate to any location?
Ans. 
Yes, I am open to relocating to any location for the right opportunity.
• I am open to exploring new opportunities in different locations

• I am willing to relocate for career growth and development

• I understand the importance of flexibility in consulting roles
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Technical Discussion

Technical Discussion with Coding Test

Q1. Previous Job Details
Ans. 
I worked as a project manager at a consulting firm, leading teams to deliver strategic solutions for clients across various industries.
• Managed a team of 10 consultants to deliver a market entry strategy for a tech startup.

• Conducted data analysis to identify key trends, resulting in a 20% increase in client revenue.

• Facilitated workshops with clients to align project goals and expectations, enhancing client satisfaction.

• ...read more
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Q2. Salary discussion
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Q1. All about financials
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Q2. Relocating possible
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Q1. Tell me about yourslef
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Q1. Tell me about experience
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Q2. Project experience
Ans. 
I led a cross-functional team to optimize supply chain processes, resulting in a 20% reduction in costs and improved delivery times.
• Managed a team of 10 to streamline operations in a manufacturing project, enhancing efficiency by 30%.

• Implemented a new inventory management system that reduced stock discrepancies by 25%.

• Conducted market analysis for a healthcare client, identifying growth opportunities that led to a 15% ...read more
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