SAP FICO Interview Questions and Answers

Couple of frequently asked SAP FICO interview questions and answers:-
1) )In New GL profit center needs to be used as an additional reporting characteristics. Does profit center module needs to be activated in this case?
Ans:
Yes, profit center module still needs to be activated and configured so that the characteristic is available for reporting

2) Is it possible to maintain plantwise GL codes ?
Ans:
Yes. To be able to do so the valuation group code should be activated. The valuation grouping code is maintained per plant and is configured in the MM module. Account codes should be maintained per valuation grouping code after doing this configuration.

3)Is it possible to have more than one retained earnings account? Why do you require it?
Ans:

Yes, it is possible to have more than one retained earnings accounts. It is required in case you need to have more than one reporting such as local and parent reporting.

4. How do you default certain cost center for a certain cost element ?
Ans:
There are 2 ways to do it:-
a) Use transaction code OKB9 and update the company code for which it needs to be defaulted with the cost element and the cost center or
b) Use transaction code KA02 and update the cost center as default cost center against the cost element

5)Explain the process of creation of standard cost estimate?

Ans:
A standard cost estimate is executed for all in house manufactured products such as finished good or semi-finished goods. It can be executed for a single product using transaction code CK11N to create cost estimate and transaction code CK24 to mark and release the standard cost estimate.
For creating a standard cost estimate for more than one finished products, semi finished products at a time, transaction code CK40N is used. The steps involved in CK40N are selection of the material, structure explosion, costing, analysis, marking and finally release of the standard cost estimate.


6) How do you default profit centers for certain balance sheet accounts?

If u know answer comment here………….