7:14 wal © 282 Me @aH OQ @ acte.in/sapficointervie @ : representative of a contained Cost Accounting envt where costs and revenues can be managed. 33)Define relationship between controlling area and company code? Ans: A controlling area may include one or more company codes which must use the same operative chart of accounts as the controlling area. A Controlling Area can contain multiple company code assignments but a single company code can be assigned to only one controlling area. ES e} Be cs 3) fox i far) 34)Whatis a fiscal year variant? Ans: Fiscal Year is a period of 12 months and SAP provides 4 special periods to posting adjustment Entries. Fiscal year determines posting periods. Posting periods are used to assign business transactions. Fiscal year may be year dependent or year independent. o™ are “a used Ff ns:7:11 al & 808 Be @aH OQ @ acte.in/sapficointervie @ : calendar month. For example, in year 2005, month January end on 29h month Feb ends on 26" etc. 11) How taxes are taken care of in the SAP FICO? Ans: One of the major issues is Tax Slabs are not similar in all the countries. Also, there are additional taxes applicable there. SAP FICO has tax procedure already defined in it for various nations and the users are free to ge’ the information regarding the same. The Ta: amounts can be sent to stocks by default o Enquiry Now the users are free to make challenges i them as per their need and convince. Thu taxes are not an issue with the SAP FICO. 12) What do you know about the Substitutions and validations in SAP? Ans: They are generally defined assets for the different functional area. They can be iccessed through tions and tl Barren level an e level. cB ceng some important tasks. Q24) Why Asset classes are important in SAP? Asset class is the primary class that is used for the purpose of justifying the assets. The entire asset category are generally assigned or integrated to the one asset class. It is also possible for the users to use the default values for the same. Q25) Name a few important components of the charts that matters in accounting? The first and the foremost is the main language. Next is controlling the integration level, name, Block Indicator, GL, account number and the chart of Account Key. Explore SAP FICO Sample Resumes! Download & Edit for Free..!! eye BNne Q26) Tell something about the credit control area in the SAP? The credit control is in the SAP enable the organization to impose a strict upper limi the credit for the customers. This can be by using the option controls are in the SAP. It simply makes sure of avoiding the situation such as risk of bad debts and outstandingms Oe @ mindmajix.com/sap-fic Q28) What do you mean by posting period Variants? It is basically a time frame during which the transactions figures are updated. Generally it is accountable to control accounting periods that are complex. Q29) What exactly Field Status is? It is basically an approach that is used for the purpose of maintaining the General Ledger accounts. It controls the fields which should provide information on the concerned accounts. Q30) Tell something about Parallel local currency in SAP? Organizations are allowed to add two more currency option than their local. They can be used in the transactions made at International level by an organization. The organization: free to use any two options for parallel that seem to have more need. They can be tagged as Group currency and hard currency.