You are on page 1of 13

SAP FI/CO Interview and Certification Questions - Part 1

Caution: more than one answer may be correct. Please mark ALL correct answers. Question: Which of the following statements are correct? A More than one chart of accounts can be created for each client B The chart of accounts contains all the G/L accounts, vendor accounts and customer accounts C More than one company code can be allocated to the same chart of accounts D The chart of accounts controls all the customising settings in the R/3 system E All accounts within a chart of accounts must have the same tax code Question: What status reports does Cash Management and forecasting include? A. Cash management position B. Liquidity forecast C. Credit limit report D. G/L account balances E. Bill holdings Question: Which of the following are clearing procedures in accounts receivable? A. Incoming payment B. Down payment request C. Credit memo D. Transfer posting Question: When creating an Overhead Cost Order, the first order information which must be entered is: A. Order status B. Order type C. Settlement type D. Curreny E. Classification code Question: When creating an Overhead Cost Order, the settlement rule must be entered in the control data. Which settlement receivers are available for internal orders? A. Cost center B. Orders C. General ledger accounts D. Asset E. Vendor Question:

In Controlling, a distinction is made between master data, planning, actual data and the information system. Which of the following master data belongs to Controlling? A. G/L account B. Work center C. Cost center D. Activity type E. Supplier Question: Withing Overhead Cost Controlling activities are calculated. A Sender/Receiver relationship exists. However, not all Sender/Receiver combinations are allowed. Which of the following combinations make business sense? A. Sender. Cost Center, Order, Project Receiver. Cost Center, Order, Project B. Sender. Order Receiver. Cost Center, Project C Sender. Cost Center Receiver. Cost Center, Order, Project, Cost Object Question: Period closing activities are also performed in Controlling. This is dependent on certain prerequisites. Which of the following are MINIMUM criteria before it makes sense to carry out period closing? A. The posting period has been closed. B. Materials have been withdrawn. C. Personnel costs have been incurred. D. Overhead has been incurred. E. An order was closed.

SAP FI/CO Interview and Certification - Part 2


Navigation 1. Select the correct statement(s) a) When logging on to the R/3 system for the first time, you are required to change your password b) Your customized personal settings are only available on a particular PC c) The system menu is standard on all SAP screens d) The SAP library is one of the help options, it also displays comprehensive help on the current application e) F1 provides a list of field values or an option to search for the information in the case of an extensive list 2. Which of the following statements are True or False a) You can only have one R/3 session open at a time

b) A client number is not required to log on to the SAP system c) The help menu is only available when performing a particular task d) The command field provides general information on the SAP system and transaction or task youre working on e) The status bar provides general information on the SAP system and transaction or task youre working on f) You can only create a favorites list containing transactions

Organizational Structures 3. Select the correct statement(s) a) The Client is the highest legal entity in the SAP system architecture b) One or many business areas can be assigned to a company code c) Clients share master records and transaction tables d) Multiple company codes can be assigned to a single controlling area e) Company codes using different operational chart of accounts can be assigned to the same controlling area 4. Which of the following statements are True or False a) A controlling area must be assigned to a company code for the purpose of transferring data to cost accounting for further processing b) Cross company code controlling can be performed when one company code is assigned to multiple controlling areas c) Business areas must be defined in the SAP organization structure d) Data for profitability analysis is extracted from the operating concern e) Company codes assigned to the same controlling area must have the same operational chart of accounts and the same fiscal year variant

General Settings 5. Select the correct statement(s) a) A Fiscal year must be defined the same as a calendar year b) A non calendar fiscal year can have any amount of posting periods c) If the fiscal year is the same as the calendar year, year shifts must be specified for each posting period d) The periods for a year dependant fiscal year are the same every year e) The periods for a year independent fiscal year are the same every year f) A shortened fiscal year must be defined as year dependant 6. Which of the following statements are True or False a) Tax codes are defined per company code b) Exchange rate types can be identified as US dollars, British Pounds etc. c) An exchange rate spread is the difference between the bank buying rate and the bank average rate or the bank average rate and the bank selling rate d) The minimum entry to open and close posting periods is the + indicator e) You can only define 4 special periods for any fiscal year

Financial Accounting G/L Master Data 7. Select the correct statement(s) a) The chart of account segment (client segment) and company code segment form the complete G/L master record b) The company code segment does not need to be activated for all the accounts in the chart of accounts c) The currency of the account must be specified at the chart of accounts level d) A field status group determines which fields are suppressed, displayed, required or optional e) The field status group is assigned at the company code level 8. Which of the following statements are True or False a) The ratio between operational chart of accounts and group chart of accounts is 1 to 1 b) The ratio between operational chart of accounts and country specific chart of accounts is 1 to 1 c) If the account currency is different to the company code currency, you can post amounts to the account in any currency d) If the account currency is the same as the company code currency you can post amounts to the account in any currency e) The group account determines the number range of the G/L account f) The same number range can be assigned to all account groups

Financial Accounting AP and AR Master Data 9. Select the correct statement(s) a) The client segment, company code segment and purchasing organization segment form the complete customer master record b) A vendor/ customer master record can be created for multiple company codes c) The vendor account number is the link between AP and the G/L d) More than one recon account can be specified per customer in the customer master record e) An authorization group must be customized and assigned to every master record 10. Which of the following statements are True or False a) The payment term must be assigned at the client segment, but can be changed at the company code segment b) All customers within the same account group must have the same payment terms c) The vendors banking details can be specified at the client segment for the purpose of EFT payments d) Number ranges for customer and vendor accounts are determined per account group e) 2 controls of the field status exist namely the account group and the transaction (ie. Create, change or display)

Document Control

11. Select the correct statement(s) a) The document type controls the field status of the document b) The posting date determines the posting period in the document c) The posting key only determines the account of the posting, and whether the value is going to be a debit or a credit d) Document numbers are always automatically assigned once the document is posted e) Document types determine which account types can be posted to 12. Which of the following statements are True or False a) Posting periods are opened and closed automatically b) No more than 2 posting periods can be open at the same time c) Posting keys are defined at the client level d) The posting key used to debit a vendor account is 11 e) The posting key used to credit a customer account is 21

SAP FI/CO - Interview and Certification Questions - Part 3


Clearing 1. Select the correct statement(s) a) All open item accounts are cleared automatically by running the automatic account clearing program b) The open item indicator in the customer/ vendor master record must be activated in order to clear customer/ vendor open items c) The open item indicator along with the line item display indicator is usually activated in the balance sheet clearing and profit and loss accounts d) Accounts that are not automatically cleared can be cleared manually using the account clear function e) A clearing document contains the line items to be cleared 2. Which of the following statements are true or false a) All payment documents are clearing documents b) Standard system maintenance includes clearing open items on a regular basis, either manually or automatically c) Standard open items, special G/L transactions and noted items can be selected for clearing d) If documents were cleared in error, the clearing must first be reset and the document must be reversed before attempting to clear again e) Documents that are cleared have reference to the clearing document number in the document line items

Tolerances and payment differences 3. Select the correct statement(s)

a) Tolerance groups can be defined for customers, vendors and employees b) The tolerance groups contain settings for permitted payment differences c) Alternative accounts can be specified for the posting of payment differences d) The values specified for the tolerances can be entered in a currency of your choice e) All users that were not assigned to a tolerance group are by default assigned to the blank tolerance group 4. Which of the following statements are true or false a) Tolerance groups can be assigned to general ledger accounts b) Permitted payment differences are either defined as an amount or a percentage, not both c) A reason code must be specified in the tolerance group for charging off payment differences Financial Statements 5. Select the correct statements a) Financial statements are defined according to financial statement versions b) Financial statements can have a maximum of 10 hierarchy levels and are company code specific c) Accounts can be assigned to different nodes in the hierarchy of the financial statements d) Amounts are reflected in various groups within the financial statements according to the debit/ credit indicator and the specification of the general ledger accounts e) Companies are restricted to 3 financial statement versions according to the 3 different charts of accounts Payments 6. Which of the following statements are true or false a) Payments from customers are usually processed using the automatic payment program b) Customizing the automatic payment program includes defining payment methods by country as well as by company code c) Partial payments clear the open items and cause residual items to be posted back to the account d) Line items that are created when charging off the difference back to a vendors account, have reference to the original document that is being short paid e) A document which is selected in the payment run, can be reallocated to a different payment method and house bank 7. Select the correct statement(s) a) All vendor line items can be paid, as long as there is a reference to the house bank in the vendor master record b) Every general ledger account that is linked to a house bank, must be maintained in the currency of the bank account c) Specific programs linked with specific variants are used to create various types of payment media d) Cheques (checks) that are not used are automatically voided by the system e) All vendors must be assigned to a payment procedure in the master record in order to generate payments from the automatic payment program

Dunning 8. Which of the following statements are true or false a) A dunning procedure must be assigned to the customer master record in order to dun the customer for late payments b) Customers are only dunned according to the settings in the dunning procedure, which include the frequency, whether or not line items are printed with every letter that is issued, and how many grace days the system will accept before issuing a dunning letter c) Dunning charges are levied on the customers account, and are reflected as a separate line item on the dunning letter d) Interest can also be levied on the customers account according to the interest indicator in the customer master record e) The master record of the customer is updated with the dunning level according to the highest dunned document in the customer account f) Customers can be blocked from dunning by entering a dunning block key in the customer master record

Financial Closing 9. Select the correct statement(s) a) An unrealized foreign currency valuation is created every time a foreign currency payment is made or received b) Balance sheet accounts should be valuated according to the line items in the account c) Assets are depreciated according to the depreciation key and useful life specified in the asset master record d) The asset register is updated independently of the general ledger accounts for accumulated and expense depreciation e) Balance confirmations are customized in the IMG, and cannot be linked to SAPScript forms 10. Which of the following statements are true or false a) All reports must be executed using set variants, or user defined variants b) The GR/IR account is a clearing account that must be maintained regularly by clearing open items c) The balance carried forward program carries the balances of the accounts forward into the new posting period d) The reconciliation ledger allows you to automatically reconcile the financial accounting and controlling modules e) Assets under construction are settled periodically to fixed assets f) Accrual documents are automatically reversed on the first day of the following period

SAP FI/CO - Interview and Certification Questions - Part 4


Clearing

1. Select the correct statement(s) a) All open item accounts are cleared automatically by running the automatic account clearing program b) The open item indicator in the customer/ vendor master record must be activated in order to clear customer/ vendor open items c) The open item indicator along with the line item display indicator is usually activated in the balance sheet clearing and profit and loss accounts d) Accounts that are not automatically cleared can be cleared manually using the account clear function e) A clearing document contains the line items to be cleared 2. Which of the following statements are true or false a) All payment documents are clearing documents b) Standard system maintenance includes clearing open items on a regular basis, either manually or automatically c) Standard open items, special G/L transactions and noted items can be selected for clearing d) If documents were cleared in error, the clearing must first be reset and the document must be reversed before attempting to clear again e) Documents that are cleared have reference to the clearing document number in the document line items

Tolerances and payment differences 3. Select the correct statement(s) a) Tolerance groups can be defined for customers, vendors and employees b) The tolerance groups contain settings for permitted payment differences c) Alternative accounts can be specified for the posting of payment differences d) The values specified for the tolerances can be entered in a currency of your choice e) All users that were not assigned to a tolerance group are by default assigned to the blank tolerance group 4. Which of the following statements are true or false a) Tolerance groups can be assigned to general ledger accounts b) Permitted payment differences are either defined as an amount or a percentage, not both c) A reason code must be specified in the tolerance group for charging off payment differences Financial Statements 5. Select the correct statements a) Financial statements are defined according to financial statement versions b) Financial statements can have a maximum of 10 hierarchy levels and are company code specific c) Accounts can be assigned to different nodes in the hierarchy of the financial statements d) Amounts are reflected in various groups within the financial statements according to the debit/ credit indicator and the specification of the general ledger accounts e) Companies are restricted to 3 financial statement versions according to the 3 different

charts of accounts Payments 6. Which of the following statements are true or false a) Payments from customers are usually processed using the automatic payment program b) Customizing the automatic payment program includes defining payment methods by country as well as by company code c) Partial payments clear the open items and cause residual items to be posted back to the account d) Line items that are created when charging off the difference back to a vendors account, have reference to the original document that is being short paid e) A document which is selected in the payment run, can be reallocated to a different payment method and house bank 7. Select the correct statement(s) a) All vendor line items can be paid, as long as there is a reference to the house bank in the vendor master record b) Every general ledger account that is linked to a house bank, must be maintained in the currency of the bank account c) Specific programs linked with specific variants are used to create various types of payment media d) Cheques (checks) that are not used are automatically voided by the system e) All vendors must be assigned to a payment procedure in the master record in order to generate payments from the automatic payment program

Dunning 8. Which of the following statements are true or false a) A dunning procedure must be assigned to the customer master record in order to dun the customer for late payments b) Customers are only dunned according to the settings in the dunning procedure, which include the frequency, whether or not line items are printed with every letter that is issued, and how many grace days the system will accept before issuing a dunning letter c) Dunning charges are levied on the customers account, and are reflected as a separate line item on the dunning letter d) Interest can also be levied on the customers account according to the interest indicator in the customer master record e) The master record of the customer is updated with the dunning level according to the highest dunned document in the customer account f) Customers can be blocked from dunning by entering a dunning block key in the customer master record

Financial Closing 9. Select the correct statement(s) a) An unrealized foreign currency valuation is created every time a foreign currency

payment is made or received b) Balance sheet accounts should be valuated according to the line items in the account c) Assets are depreciated according to the depreciation key and useful life specified in the asset master record d) The asset register is updated independently of the general ledger accounts for accumulated and expense depreciation e) Balance confirmations are customized in the IMG, and cannot be linked to SAPScript forms 10. Which of the following statements are true or false a) All reports must be executed using set variants, or user defined variants b) The GR/IR account is a clearing account that must be maintained regularly by clearing open items c) The balance carried forward program carries the balances of the accounts forward into the new posting period d) The reconciliation ledger allows you to automatically reconcile the financial accounting and controlling modules e) Assets under construction are settled periodically to fixed assets f) Accrual documents are automatically reversed on the first day of the following period

SAP FI/CO Interview and Certification Questions - Part 5


Organizational Units 1. Select the correct statements a) The controlling area is the highest reporting level for profitability analysis b) Data for overhead cost controlling is extracted from the operating concern c) Product cost controlling extracts data from the controlling area d) The business area is an organizational unit within financial accounting e) Profit center accounting is a component of overhead cost controlling 2. Which of the following statements are true or false a) The controlling area currency must be defined as the group currency b) Company codes assigned to the same controlling area must have the same operational chart of accounts c) Profit center accounting extracts data from the controlling area d) The product cost controlling component enables you to calculate the minimum price at which a product can be profitably marketed e) Profitability analysis is used to evaluate external market segments

Master Data 3. Select the correct statement(s) a) Cost centers are assigned to the standard hierarchy through the master record b) Cost centers can be assigned to any level in the standard hierarchy c) Cost center categories enable you to assign the same characteristics to similar cost

centers d) All primary cost elements have a one to one relationship with the general ledger expense accounts e) Secondary cost elements can only be created and used within controlling 4. Which of the following statements are true or false a) All activity types can be used with all cost centers b) An activity type allows you to allocate costs from FI according to tasks that were performed by other departments c) Statistical key figures can be defined as either a fixed value or a totals value d) Master data that can be grouped together include controlling areas and operating concerns e) Activity types cannot be grouped like cost centers, cost elements and statistical key figures

Transaction Based Postings 5. Select the correct statements a) Document numbering is defined according to the grouping of controlling transactions b) When posting to a cost center and true order, the posting to the cost center becomes statistical c) Profit center postings can be true postings if the indicator is selected in the master record d) Postings to cost centers primarily arise out of transaction based postings in FI e) When posting a transaction within FI, only one true object and one statistical object can be selected 6. Which of the following statements are true or false a) Default cost centers can be specified in the cost element master record b) Default cost elements can be specified in the cost center master record c) Profit centers defaulted from the cost center master record, when posting an expense in FI can be changed in the document d) Default values from customizing take preference over default values from the master records e) Line items that are reposted in CO update the cost center in the original document in FI

Period-end Closing 7. Select the correct statement(s) a) Costing sheets are defined for the percentage method of the accrual calculation b) Periodic reposting is performed when costs are manually reposted from one cost center to another according to a specific statistical key figure c) The assessment cycle allows for the collection of both primary and secondary costs, and reposts the values using the original cost elements d) Distribution is the method by which primary costs are reposted using the original cost elements e) Allocation structures assigned to the distribution cycle allow for the grouping of cost elements and repost using secondary cost elements

8. Which of the following statements are true or false a) The reconciliation ledger allows for the reconciliation of CO components b) The period lock must be set for both plan and actual data c) The period lock is automatically set when the FI period is closed d) An overhead structure is assigned to a costing sheet e) The results of an assessment can be reviewed in the cost center actual/ plan/ variance report Planning 9. Select the correct statement(s) a) Planning profiles are defined with header rows and lead columns b) Multiple planning layouts can be assigned to a single planning profile c) Distribution keys can only be used when planning for a single period at a time d) Planning using activity types can only be performed if the statistical key figures are planned as well e) Activity dependant planning means planning with the use of an activity type 10. Which of the following statements are true or false a) In order to transfer planned data from HR, a valid employee master record must exist along with a valid cost center, and the two records must be linked b) Plan distribution allows for the distribution of secondary costs c) It is not possible to perform planning using statistical key figures d) It is possible to copy actual data to planning data as long as the planning version has been created first e) All controlling objects are automatically transferred when one plan version is copied over to another

Internal Orders 11. Select the correct statement(s) a) All internal orders must be created according to a specific order type b) Four categories of internal orders exist namely overhead, investment, financial and revenue orders c) Statistical orders are used for reporting purposes only d) Accrual orders allow for the raising of accruals on the order itself e) Internal orders are company code specific and must reference a profit center in the internal order master record 12. Which of the following statements are true or false a) Orders cannot be grouped like cost centers and cost elements b) Substitution rules are used for mass maintenance to internal orders c) A commitment can be raised on an order when a purchase order or purchase requisition is created d) A settlement procedure must be specified for all order types e) An allocation structure allows you to determine whether cost elements must be grouped

together and settled using a specific cost element, or if the original cost element can be used for the settlement of true order values