Saturday, 31 January 2015

FICO Module Interview Questions and Answers list (Part9)

81. Briefly discuss about asset master.
An asset manager manages asset and belongings of an organization effectively. It can be created by an existing asset of the same company code or another company. When it is created for the first time it can be done from scratch. SAP allows multiple asset to be created in one go assuming that all such asset belong to the same type.

82. What are the segments of GL master record?
GL master records control the processing of the posted data and the accounting transaction posting to G/L accounts. In the system master data are created prior to the postings to a G/L account. It is classified into two areas that prepare company codes based on charts that use the same GL accounts. They are:-
1. Chart of accounts
2. Company code area

83. What is the difference between business area and profit center?
 Business Area helps to prepare Balance sheet of profit or loss incurred for individual product segment, geographical segment etc. In countries like India it is also referred as external reporting. Profit centre is restricted to perform its activities regarding the profit only i.e. revenue minus expenses. This is also known as internal reporting.

84. What is internal and external number ranges? 
Discuss how they differ in their use? In Internal Number Ranges the system automatically specifies the Doc. number in serial ordering in order to allot the next available progress number provided that the number should be numerical. In External Number Ranges the end user manually supplies the Doc. number without the automatic intervention of the system. User may also choose the number in a random manner which can also be alphabetical in nature.

85. What is the integration point in FI-MM in obyc. Which GL a/c has to be created ?
The goods receipt initiates the FI-MM integration which in turn generates the account entry that is inventory a/c dr to gr/ir account. During the time of invoice verification GR/IR a/c Dr Vendor a/c will be generated for which relevant GL accounts must be assigned in obyc by linking valuation grouping code, valuation class and the general modifications based on the accounting entries.

86. In movement type(MM), what is value & quantity string? It updates values and quantities in GL with valuation class, transaction key modifier and GL A/c. But how does it work when doing a mvt type?
The system itself cannot know which GL has to be updated. So a specific direction has to be given to the system to do so. It is correct that the system updates the value and quantity in the material master. During a PO creation the system will take a movement type as its base along with MT it will identify the MI then identifying the consumption value string and then finally post the entry (dr/cr) to the GL depending upon the event key figure and transaction that are used to find out the credit/debit entry of a GL.

87. What is open line item management? What is meant by clearing open line items?  
Open Item management is further balancing/reconciliation of functions. Open item management lets us display the amount, open and cleared items regarding a specific account. The account is first cleared and then settled up with another account this is known as clearing open lines. For example, GR/IR clearing account and Salary clearing account.

88. How do you control field status of GL master records and from where do you control!
Field status variant is maintained all FSGs.

89.  What are the segments of GL master record? 
- COA Segment
A/C group
Nature of account
Short text
GL a/c long text
Trading partner
Group Account Number
-  Company code segment
Account currency
Tax
Reconciliation a/c for a/c type
OIM,LID,FSG.

90.  What does Field status group assigned to a GL master record controls? 
It controls the account assignments that are made to the account. Specifically the field status group controls whether postings to cost centers, internal orders, profitability segments and so on are required, not allowed (suppressed), or optional.
More Questions & Answers :-
Part1  Part2  Part3  Part4  Part5  Part6  Part7  Part8  Part9  Part10

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