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Organizations encounter challenges that require inventive tools, skills and strategies to help them stay forward and promote growth. Adaptation to a trouble -free shop focused on a customer is essential and requires technologies that can cultivate the culture of cooperation, trust and authorization. KPMG and SAP Fico are working on providing industrial digital solutions and services that help organize people with agile, data and durable companies with SAP Cloud Solutions and the digital transformation set of KPMG.
In KPMG they understand the critical importance of choosing the right advisors for your journey of SAP technology. Our teams bring a significant approach with trade and industry that begins with a deep understanding of your needs, leading to a rapid and effective change for your organization.
With more than 6,000 SAP specialized consultants across the global network of KPMG, KPMG experts have experienced organizations such as yours, and grow with the main KPMG and SAP technologies.
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KPMG SAP Fico Hiring Process
The applicant will undergo a number of tests and bikes of interviews to relax the way to the organization. These are thoughtfully designed to assess candidates and determine the most suitable for the company.
1.Online Assessment Test
It requires the applicant to select the narrower selection to use his computer to try this prosecuttered test shared only through the link only Invite. Usually these tests are 60-90 minutes of duration and include questions that evaluate understanding, interpretation, logical and verbal thinking and psychometric abilities.
In addition, some practices can use this assessment to check professional competence in areas such as quantitative mathematical and data analytics.
2.Group Discussion
Open discussion activity that allows the assessment of soft skills such as oral communication, articulation, structured thinking, attributes and attributes such as proactivity, presence of mind, teaming and leadership.
3.Case Study Round
Case studies are often used to evaluate expertise. However, they can also be used in other forms for assessing verbal or written communication, pragmatic thinking, general knowledge and business products. This evaluation can be performed as a written test or interactive discussion.
4.Evaluation by Recruiter
Direct interaction held in person/by telephone or practically a recruiter to assess the overall equipment in the designated role and the company generally also the behavioral aspects of the applicant-personality, awareness of business, skills and abilities, resistance.
5.Evaluation by technical panel
Direct interaction held personally/by phone or practically the team staff to assess the technical capacity of the candidate needed for this work in addition to the above attributes. This evaluation is usually “one on one”, but in some cases it contains a panel of two to three interviewers.
This phase may also include more interactions with the hiring team from the hiring manager to the team leader, the leader/partner and even the heads of the function.
Common KPMG SAP FICO Interview Questions
SAP Financial Accounting (FI) and SAP Controlling (Co) or SAP Fico are an important functional component of the core in the central component of SAP ERP. It allows the organization to manage your financial data and store the full version of its financial transaction data. It serves the key purpose to help companies to generate and manage the financial statements for analysis and reporting, help with effective business planning and decision -making.
1. What do you understand by the term SAP FICO?
SAP is the abbreviation for Systems, Applications & Products in Data Processing. The FI in FICO stands for (Financial Accounting), and CO is for (Controlling). Thus, SAP FICO is a combination of SAP FI and SAP CO. While SAP FI deals with accounting, tax computation, and preparation of financial statements, SAP CO is for inner orders, inventory sheets, cost sheets, cost allocations, and more.
2. What is the posting key? What purpose does it serve?
A two-digit numerical for controlling and determining the transaction type documented in the line item is referred to as a posting key. It helps determine the following:
- Account types
- Types of posting: debit or credit
- Field status of a transaction
3. What is the main usage of SAP FICO?
SAP FICO is the software used for storing and computing data. It helps retrieve the result according to the latest marketing scenario. It prevents data loss and is responsible for the reporting and verification of data. Its modules allow companies to manage financial tasks within an international framework of currencies and languages.
4. What are the other modules into which ‘Financial Accounting’ of SAP FICO is integrated?
The other modules to which ‘Financial Accounting’ of SAP FICO is integrated are:
- Sales and Distribution
- Production Planning
- Material Management
- Human Resource
- Controlling financial transaction
5. State the most important organizational elements in SAP FI.
The important organizational elements in SAP FI are as follows:
- Functional Area
- Business Area
- Company Code
- Chart of Account
6. What is the best way to manage transactions from different business lines within a company?
The best way is to create Business Areas. You can also create different company codes for each business line to manage transactions from different business lines within a company.
7. What are the options for fiscal years in SAP FICO?
A fiscal year is a way to hold the financial data in the system. In SAP FICO, there are twelve posting periods and four special periods. You must specify the fiscal year variant for every company code. Also, when creating a controlling area, you will have to specify the fiscal year variant.
8. What is the role of credit control?
Credit control helps guard a business against overstretching its financial assets. Usually, a credit limit is set for the customers using SAP when a payment is made post the product’s sale. This method allows you to restrict the customer’s amount to clear before starting a fresh purchase.
It is suitable for credit management in application components:
- Account Receivable (AR)
- Sales and Distribution
9. What is the function of the company code in SAP FICO?
The company code is responsible for generating financial statements like Profit and Loss Statements, Balance sheets, and others.
10. How many Chart of Accounts can a company code have?
There can be only one Chart of Accounts for an assigned company code.
11. How many currencies can you configure for a Company Code?
You can configure three currencies for a Company Code, including
- One local currency
- Two parallel currencies
12. What is the role of the Chart of Accounts in SAP FICO?
The Chart of Accounts is used to meet the company’s daily needs and the country’s legal requirements. Its two types are as follows:
- Operating Chart of Accounts (COA): A record with all the general ledger accounts assigned to the company code.
- Country Chart of Accounts (COA): The list of general ledger accounts needed to meet the country’s legal requirements.
13. What do you understand about the field status group and field status variant?
The field status groups contain the field status variants. The General Ledger account has field status groups. These status groups allow you to define the fields when posting to the general ledger.
14. What is the year shift in the SAP calendar?
The SAP system only understands the calendar year. It fails to acknowledge a broken fiscal year. Suppose for a business a fiscal year is not a calendar year but a combination of the different months of two different calendar years. Then, one of the calendar years needs to be classified as a fiscal year, and the months that fall in another year should be adjusted into the fiscal year by shifting the year by using the sign -1 or +1. This shift is termed a year shift.
15. State the types of modules into which FI is integrated.
The different types of modules are:
- Production Planning
- Material Management
- Human Resource
- Sales and Distribution
16. How are output and input taxes managed in SAP FICO?
SAP FICO has tax codes within tax procedures for every country. You get the facility to expense out the tax amounts or capitalize them to stocks.
17. What are validations and substitutions in SAP FICO?
Validations in the FI and CO modules help ensure data integrity when entering actual transactions online or in a batch. The substitutions in the FI / CO / EC modules help derive or correct values that are passed via integration or submitted to the FI / CO modules.
18. Which application areas use validation and substitutions?
Validation and substitution are used by the following application areas in SAP:
- FI- Financial Accounting
- CO- Cost accounting
- GL- Special purpose ledger
- AM- Asset accounting
- PS- Project system
- PC- Profit center accounting
- CS- Consolidation
- RE- Real estate
19. What is a year-dependent fiscal year variant?
When the number of days in a month does not correspond to the calendar month, it is a year-dependent fiscal year variant. For instance, when January ends on the 30th and February on the 27th.
20. What steps are involved in G/L posting?
On completion of the payroll run, the results are to be added to the G/L accounts. GL posting involves the following steps:
- Grouping relevant information from the payroll results.
- Creating summarized documents.
- Performing the necessary postings to appropriate cost centers and G/L accounts.
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Know MoreHow To Prepare for KPMG SAP FICO Interviews
Step 1 – Know the basics from Google
Of course, you need systematic training to get a job in SAP Fico. But before a direct jump into an unknown ocean, it is always better to get a little knowledge of its depth. This means that before spending money for the first step, spend some time learning the basics from Google So hunting around search engines, know what SAP Fico is in general, what are its basic parts, where they are used, why you need them, etc.
Step 2 – Explore the job sites
Open a lot of pages with job posts. Read carefully what employers are looking for. This means what skills you have to fit into their requirements. It may also have certain specifications. This would help you know which areas you need to focus more on training.
Step 3 – Look for the best SAP FICO Training
See the best SAP Fico training This is the most important step to find the best SAP Fico training. So here. You have to choose the coach wisely. Choosing a coach is more important than choosing an institute. The Institute can offer lucrative offers such as discounts, additional free courses with purchase, assistance at work, etc.
Do not forget your primary goal. Its training and acquiring real knowledge to get the best work in SAP Fico. So invest in a coach, not in training. If you get a good training from a good coach, you will be self -sufficient to get the best job for yourself. You can clean up and catch your dream job.
So choose the training platform carefully.
Things to look for the best training:
- Well -experienced coach
- Practically oriented training-ups than just PPT (PowerPoint presentation)
- Good Course Coverage – Here you have to cope with the list of skills you have prepared from your work pages
- Post-Training False Tests-Cont check your improvements
- High -quality study material
- Tools for practice after class-for example as access to class recordings, etc.
Step 4 – Self-Practice
Now you know all concepts and processes. But to manage the object, you have to practice anything that you learned during your training. In other words, you have to yourself now. Do practices and configurations, apply SAP Fico scenarios, solve problems and do it all yourself!
The important thing is that if you have stuck somewhere, do not ask your coach or colleagues right away. Try to solve it yourself first. Because self -termination is long -term. Whatever you do, it will remain in your memory forever. You can also solve problems, hunt Google for similar problems, attempts and errors, etc.
Step 5 – Practice Interview Questions relating to Jobs in SAP FICO
There are times when you have to prepare for an interview. For this reason, it is the best way to read many questions and answers to an interview related to gaining work in SAP Fico.
First search the web (there you get a lot of free material). And then go through many of them. Create a list of good and practice them thoroughly.
STEP 6 – Explore Job Sites
(This time, it is actually to find a job in SAP FICO)
Follow these simple steps:
- In the search engine, enter “Tasks in SAP Fico” (or related search queries) and press the appropriate results.
- In addition, visit the popular jobs such as Nauki.com, etc., and go through free jobs sent by organizations and companies.
- Create a list of all companies with lists of jobs you are interested in.
- Read their skill requirements carefully
- Ask for any skill if you know or not
- Finally, if you are ready for them, ask for these jobs.
Step 7 – Wait and brush up on skills
At the moment you have to expect patience. It is natural that we hope to call from the companies we enrolled right after the login. If this is not the case, we are impatient. Please understand that there is stiff competition. So you have to have patience. Believe your skills and knowledge and wait for the right time. In this period you can use your time to require the skills you have learned.
Remember that you only need one job. Fully load with the required knowledge. I’m sure you can give the best on the first attempt.
Step 8 – Go and give more interviews than required for practice
Interviews always create nervousness. And when you are fresher, nervousness is even higher. You want to overcome it, you can do two things:
Mock Interviews
Ask your friend to take your false conversations. If no one is available, you can even perform a mirror practice.
Real Interviews
The best way to overcome nervousness is to face it! Indicate as many interviews as possible. All interviews may not be the ones you wanted to join, but you should only go in more interviews for practice. Every attempt will make you more confident than before. Soon after a few interviews, your fear will start to exhaust and you will be perfectly prepared for the desired job interview.
Step 9 – Grab the offer fast – Don’t be too choosy.
Choosing for fresher or beginners is not very easy. So if you get a decent offer, catch it. Don’t be too picky. Later in your career, if you gain some experience, you would be able to choose jobs according to your preference.
Step 10 – Upgrade to the next level
If you follow these steps with patience, you will get the desired job for you. But it’s just the beginning. You should plan your next step during work. It is upgrading your skills and knowledge using the latest SAP updates. This syncs you with industry and increases your demand.
Tips For Cracking KPMG’s SAP Fico Interview
Interviews can be stressful, especially for work you have dreamed of for years. The pressure on good impression and position can be stunning, causing a flood of anxiety thoughts and doubts. With the right preparation and thinking, however, you can navigate with confidence and Poise. Here are ten tips to help you outline strategies on how to successfully break your dream conversation.
1. Research the company thoroughly
Understanding the company you interview is essential. Start by exploring the company’s website, social media profiles and recent news articles. Focus on:
-The recognition of the basic values and long -term goals of the company will help you align your answers to reflect your enthusiasm and compatibility with their mission.
– Meet the company’s products, services and key staff. This knowledge shows your real interest and determination.
– Mention to mention the recent successes or challenges that the company is facing can distinguish you as a well informed and proactive candidate.
– Emphasize how your skills and experiences match the job requirements. – Use examples that show your suitability for the role.
2. Analyze the job description
A thorough understanding of the description of the work is as essential as the knowledge of society. Divide a description of work on key skills and duties:
– Identify the necessary basic skills and compare them to the qualification. Be prepared to provide examples demonstrating these skills.
– Understand what is expected of the role and prepare for a discussion about how your previous experience makes you well.
– Find out about the leaders or managers to work with. Knowledge of their professional trips and success can help you join during the conversation.
3. Brush up on your basics
Whether you are a seasoned professional or fresher, it is necessary to revise the foundations of your field. This includes:
– Make sure you have a strong understanding of the basic principles in your field of expertise.
– Stay informed about the latest trends and technologies related to your field.
– Be prepared to discuss how you used your knowledge in practical scenarios and emphasized your problems to solve problems.
4. Prepare for common interview questions
Anticipate and practice responses to frequently asked questions. Some of them include:
– Tell us about yourself: focus on your professional journey, briefly emphasize relevant experiences and achievements.
– What are your strengths and weaknesses?: Select the strengths that are in line with the work role and discuss the weaknesses, along with the steps you have taken to improve.
– Why do you want to work here?: Adapt your answer to reflect your understanding of society’s culture and your passion for the role.
– Where do you see each other in five years?: Show your ambitions and how it corresponds to the growth opportunities of society.
5. Prepare for potential tests
Prepare for potential tests Many companies include written tests, presentations or practical tasks as part of the interview process. Prepare:
– They are meant for objects relevant to a working role.
– If the presentation is required, prepare and practice thoroughly.
– Perform practical tests if they are available to be comfortable with format and timing.
6. Dress to Impress
Your garment talks about your professionalism. Here are some tips on how to dress properly for an interview.
– While formal clothing is often a safe choice, society’s culture can dictate differently. If you have doubts, decide to commercial occasional.
– Make sure you are well modified and representative. The neatness reflects attention to detail and respect for this occasion.
7. Switch on the interview mode
Your professionalism should be obvious from the moment you enter the company’s premises.
– Greet all you will encounter with politeness.
– Keep self -confident and friendly behavior.
– Be aware of your surroundings and watch the instructions immediately.
– The clarity is uninhabited. Plan the route in advance and strive to arrive at least 15 minutes earlier. This buffer helps to meet any unforeseen delay.
8. Be confident, not overconfident
Trust is crucial, but too much trust can be harmful.
– Demonstrate your expertise without boasting.
– Confirm areas where you have room for growth.
– Maintain a positive approach all the time, even when discussing challenges or failures.
– shows a positive body language by maintaining eye contact to show confidence and engagement.
– Sit straight and tilt slightly forward to show interest.
– To emphasize points, use hands gestures naturally, but avoid excessive movements.
9. Communicate effectively
Clear and brief communication is essential. Effective communication tips include:
– Pay attention to the interviewer’s questions and comments.
– Before speaking, arrange your thoughts to ensure that your answers are cohesive and relevant.
– If you do not understand the question, ask politely to clarify.
– If you have questions or need more clarity, ask the interviewer.
10. Conclude on a positive note
The way you closed the interview can leave a lasting impression. Complete strong:
– Ask for corporate culture, team dynamics and future projects.
– Thank you for their time and consideration.
– Repeat your enthusiasm for this role and why you are perfect.
The key to rupture of the interview is a mixture of thorough preparation, self -confidence and effective communication. You can increase your trust and reduce anxiety by exploring society, understanding the job description, brushing on the foundations and practicing common interview questions. During the process, be sure to dress, be accurate and show professional body language. By following these tips, you can navigate your conversation with Poise and increase your chances to ensure your dream job.
Join to learn SAP FICO from the Experts! Click for the demo class!
Conclusion
If you want to achieve a successful career in SAP Fico, there is a strategy that you should follow. The same rule applies to obtain work in SAP Fico. Instead of just falling apart and sending your CVs everywhere, it is not the right process. If you act as planned, you will see good results.
This will complete our list of the 20 most commonly asked SAP Fico interview questions. By learning the answers to these questions, you can clean your knowledge and also gain confidence to give your interview.
Master SAP with Expert-Led Courses
Unlock your potential with our comprehensive SAP courses! Learn essential modules like SAP MM (Materials Management), SAP SD (Sales and Distribution), and SAP FICO (Financial Accounting and Controlling) from industry experts.
Know MoreFrequently Asked Questions
Is SAP Fico functional or technical?
How to learn SAP FICO step by step?
To learn SAP FICO step-by-step, start by understanding basic financial accounting principles, then gradually progress to learning the core concepts of SAP FICO (Financial Accounting and Controlling) modules, focusing on theoretical knowledge alongside hands-on practice in the SAP system, including configuration and real-world business scenario application; always prioritize building a solid foundation through fundamental concepts before moving to more complex features.
How to crack SAP fico interview?
- What do you understand by the term SAP FICO? …
- What is the posting key? …
- What is the main usage of SAP FICO? …
- What are the other modules into which ‘Financial Accounting’ of SAP FICO is integrated?
