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Capgemini is a world leader in SAP certifications and has four decades of experience with SAP solutions, serving 2,600 clients across the world. They are also SAP Global Strategic Services Partner and SAP Global Platinum Reseller Partner. It is a great organization for those aspiring to work as SAP FICO consultants. In this article, we have covered some important Capgemini SP FICO consultant interview questions.
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Capgemini SAP FICO Consultant Interview Questions and Answers
What is the main usage of SAP FICO?
SAP FICO is used by organizations for storing and computing data. It allows them to generate and manage financial statements for analysis and reporting. It also helps them to manage financial tasks within an international framework of currencies and languages.
What are the options for fiscal years in SAP FICO?
In SAP, the fiscal year is assigned as a variant. SAP FICO allows a maximum of 16 posting periods in each fiscal year, with twelve posting periods and four special periods. It can be used for audit or tax adjustments to already closed periods. You must specify the fiscal year variant for every company code. Also, you will have to specify the fiscal year variant when creating a controlling area.
What is the function of the company code in SAP FICO?
The company code is used for generating financial statements like Profit and Loss Statements, Balance sheets, etc. We can post the financial transactions, tracking and analysis of the transaction at the company code level.
What is the role of the Chart of Accounts in SAP FICO?
Chart of Accounts is used to meet the company’s daily needs and the country’s legal requirements. There are two types of Chart of Accounts: Operating Chart of Accounts (COA) and Country Chart of Accounts (COA):
- Operating Chart of Accounts (COA) has all the general ledger accounts assigned to the company code.
- Country Chart of Accounts (COA) has the list of general ledger accounts needed to meet the country’s legal requirements.
At what level are Customer and Vendor codes stored in SAP?
The Customer and Vendor codes are stored at the client level. A company code can use the vendor and customer code by extending the company code view.
What are the different accounting groups that can be created in Account Receivable in SAP FI?
The various accounting groups that can be created in Account Receivable are:
- X001- Domestic Customers
- X002- Export Customers
- X003- One-Time Customers
What are the internal orders in SAP FICO?
An internal order is a controlling object in SAP FICO (Financial Accounting and Controlling). It is used for planning, collecting, and settling the costs of internal tasks and jobs. It can also be used to track expenses and revenues for particular operations or activities within a company.
What is the chart of depreciation in Asset Accounting?
The chart of depreciation is the highest node assigned to the company node. It stores all the depreciation calculations.
What is APP in SAP FICO?
Automatic Payment Program or APP is a tool provided to companies for paying their customers and vendors. It serves the purpose of posting accounts payable like payment to a vendor based on vendor invoices automatically. This helps in avoiding mistakes that can happen while posting manually. It can also be used to find out due or overdue invoices and to process a list of customer and vendor invoices to make payments in one go.
What is the significance of financial statements within a business in SAP FICO?
Financial statements provide information about a company’s revenue, expenses, profitability, and debt. It helps manage the company’s financial assets. Creating and managing financial statements and records allows to create data that can be used later to plan or decide on investments for the company.
What is a year-dependent fiscal year variant?
With a year-dependent fiscal year variant, we can define a different fiscal year structure for each calendar year. When the number of days in a month does not correspond to the calendar month, it is a year-dependent fiscal year variant. We can define a different fiscal year structure for each calendar year.
What is General Ledger Master Data in SAP FICO?
General ledger Master data in SAP FICO is the information that records transactions. Transactions are recorded on General Ledger accounts. These accounts represent individual items in the financial statements, such as assets, liabilities, revenue, and expenses. They control the posting of accounting transactions to general ledger accounts and the processing of the posting data.
Explain lockbox in SAP FICO?
Lockbox is a service provided by banks to process faster payments and reconcile the open account receivable invoices of the organization it is associated with. It contains information like customer number, invoice number, invoice amount, cheque amount etc.
What are the different account symbols in SAP FICO?
Alphanumeric with a maximum of ten-character is used for account identification.
Tips for Preparing for the Interview
1: Accounting provides information on
- Prepare well in advance.
- Research well about the company. You can find all the information on the company’s website. A solid understanding of the company’s goals and culture will help you in your preparation.
- Prepare answers to common questions like “Tell me about yourself”, “why are you interested in this role with our company?”, etc. Preparing in advance to these questions will help you communicate effectively who you are and what value you’ll bring to the company.
- You may be asked about times in the past when you used a specific skill to solve any issue. Be ready to answer with a story by mentioning the situation, task, action and result.
- Practice your answers aloud. You could also ask your friend to conduct a mock interview.
The Capgemini SAP FICO interview questions will help you in your interview preparation. A career in SAP FICO is in demand with an exponential rise in the market. Entri App’s SAP FICO course is a well-featured updated course. This course provides students with specific information about financial accounting and controlling and helps them master the art of using SAP FICO software.
Join to learn SAP FICO from the Experts! Click for the demo class!
