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SAP FICO Test (Financial Accounting & Controlling)

The SAP FI (Financial Accounting) Online Test uses scenario-based multiple choice questions to evaluate candidates on their technical knowledge and practical skills related to general ledger accounting, accounts payable, accounts receivable, asset accounting, financial statements, and controlling. The test aims to determine candidates' ability to configure and customize SAP FI to meet business requirements, as well as their familiarity with SAP FI best practices, design patterns, and techniques.

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Test duration:  30 mins
Difficulty level:  Moderate
Availability:  Ready to use
Questions:
  • 15 SAP FICO MCQs
Covered skills:
General Ledger accounting
Cost & Profit Centers
Accrual Engine
Financial Statement Versions (FSVs)
Asset Under Construction (AuC)
MIGO and MITO Transactions
COPA Records
MTO Process
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The SAP FICO Test (Financial Accounting & Controlling) helps recruiters and hiring managers identify qualified candidates from a pool of resumes, and helps in taking objective hiring decisions. It reduces the administrative overhead of interviewing too many candidates and saves time by filtering out unqualified candidates at the first step of the hiring process.

The test screens for the following skills that hiring managers look for in candidates:

  • Ability to perform General Ledger accounting tasks efficiently
  • Proficiency in managing Cost & Profit Centers
  • Understanding of the Accrual Engine and its functionality
  • Capability to create and manage Financial Statement Versions (FSVs)
  • Knowledge of Asset Under Construction (AuC) management
  • Familiarity with MIGO and MITO Transactions
  • Competence in handling COPA Records
  • Understanding of the Make-To-Order (MTO) Process in SAP FICO
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We have a very high focus on the quality of questions that test for on-the-job skills. Every question is non-googleable and we have a very high bar for the level of subject matter experts we onboard to create these questions. We have crawlers to check if any of the questions are leaked online. If/ when a question gets leaked, we get an alert. We change the question for you & let you know.

How we design questions

These are just a small sample from our library of 15,000+ questions. The actual questions on this SAP FICO (Financial Accounting & Controlling) Test will be non-googleable.

🧐 Question

Medium

Audit Information
Periodic Processing
Audit Controls
Document Posting
Solve
In SAP FICO, a company has implemented strict controls over financial period closures and audit trails. The company's fiscal year ends on December 31st. On January 5th, an attempt is made to post a vendor invoice dated December 29th of the previous year. The system settings are configured to allow postings only to the current and the immediately preceding month. What will happen and how should the financial data be managed in this scenario?
A: The system allows the posting; the invoice is recorded in December of the previous year.
B: The system rejects the posting; the invoice must be recorded in January of the current year.
C: The system allows the posting with a special period indicator, and the invoice is recorded in December of the previous year.
D: The system allows the posting with an error message, but the transaction is flagged for audit review.
E: The system allows the posting; the invoice is recorded in January of the current year with a backdate to December.

Easy

Impact of Exchange Rate Fluctuations
Financial Accounting
Asset Management
Solve
A U.S.-based company using SAP FICO is preparing its financial statements at year-end. The company holds several foreign currency bank accounts, and there have been significant fluctuations in exchange rates over the year. The company's policy is to adjust the value of these accounts to reflect current exchange rates at the end of the fiscal year. Assume the exchange rate movement during the year resulted in a loss. In the SAP system, which of the following steps is correct for reflecting these changes in the financial statements?
A: Run the Foreign Currency Valuation for each account using transaction code F.05 and post the difference to a realized gain or loss account.
B: Manually adjust the balance of each foreign currency account in the General Ledger to reflect the new exchange rate.
C: Use transaction code FB50 to enter adjustment entries directly, bypassing the automated SAP processes.
D: Generate a Balance Sheet Adjustment report and manually update the figures in the financial statements.
E: Use the Automatic Account Determination feature to automatically adjust all foreign currency balances.
F: Ignore the exchange rate fluctuations, as they do not affect the cash basis of accounting.

Medium

Integrating Financial Statements and Asset Accounting
Asset Accounting
Financial Posting
Integration
Solve
In an SAP FICO system, a company wants to integrate its asset accounting with the general ledger. The purchase of a new machine is recorded in asset accounting with an acquisition value of 50,000 EUR and is subject to a 20% input tax. This transaction needs to be correctly reflected in the financial statements. How should this transaction be posted in the SAP system to ensure accurate reflection in the financial ledger?
A: Dr. Machinery account 50,000 EUR, Cr. Cash/Bank 50,000 EUR
B: Dr. Machinery account 60,000 EUR, Cr. Cash/Bank 50,000 EUR, Cr. Input Tax 10,000 EUR
C: Dr. Machinery account 40,000 EUR, Cr. Cash/Bank 50,000 EUR, Dr. Input Tax 10,000 EUR
D: Dr. Machinery account 60,000 EUR, Cr. Cash/Bank 60,000 EUR
E: Dr. Machinery account 50,000 EUR, Cr. Cash/Bank 60,000 EUR
🧐 QuestionπŸ”§ Skill

Medium

Audit Information
Periodic Processing
Audit Controls
Document Posting

2 mins

SAP FICO
Solve

Easy

Impact of Exchange Rate Fluctuations
Financial Accounting
Asset Management

2 mins

SAP FICO
Solve

Medium

Integrating Financial Statements and Asset Accounting
Asset Accounting
Financial Posting
Integration

2 mins

SAP FICO
Solve
🧐 QuestionπŸ”§ SkillπŸ’ͺ DifficultyβŒ› Time
Audit Information
Periodic Processing
Audit Controls
Document Posting
SAP FICO
Medium2 mins
Solve
Impact of Exchange Rate Fluctuations
Financial Accounting
Asset Management
SAP FICO
Easy2 mins
Solve
Integrating Financial Statements and Asset Accounting
Asset Accounting
Financial Posting
Integration
SAP FICO
Medium2 mins
Solve

Test candidates on core topics

General Ledger accounting: This skill involves recording and managing financial transactions in the general ledger, which is the central repository for all financial data. It includes tasks such as journal entry preparation, account reconciliation, and financial statement preparation. This skill is measured in the test to assess the candidate's proficiency in fundamental accounting processes and their ability to accurately maintain financial records.

Cost & Profit Centers: This skill pertains to the management of cost and profit centers within an organization. It involves tracking expenses, allocating costs, and analyzing profitability for different business units or segments. Measuring this skill in the test helps evaluate the candidate's knowledge of cost accounting principles and their ability to perform cost center accounting and profit center analysis efficiently.

Accrual Engine: The accrual engine is a functionality in SAP FICO that automates the calculation and posting of accruals, which are adjustments made to recognize expenses and revenues that have occurred but have not yet been recorded in the accounting books. This skill is measured in the test to assess the candidate's proficiency in configuring and using the accrual engine to ensure accurate financial reporting and adherence to accounting standards.

Financial Statement Versions (FSVs): FSVs in SAP FICO are customizable templates used to define the structure and layout of financial statements. They allow businesses to present financial information in a format that meets specific reporting requirements. Measuring this skill in the test helps evaluate the candidate's ability to design and configure FSVs to generate accurate and comprehensive financial statements for analysis and reporting purposes.

Asset Under Construction (AuC): AuC refers to a category of assets that are currently being constructed or developed and are not yet ready for use. SAP FICO provides functionality to manage these assets, including tracking costs, capitalization, and depreciation. Measuring this skill in the test helps assess the candidate's understanding of AuC accounting processes and their ability to accurately record and manage assets under construction.

MIGO and MITO Transactions: MIGO and MITO are transaction codes in SAP FICO that are used for goods receipt and goods issue processes, respectively. These transactions play a crucial role in inventory management and stock valuation. Measuring this skill in the test helps evaluate the candidate's proficiency in executing MIGO and MITO transactions and their understanding of the impact on financial accounting and controlling.

COPA Records: COPA stands for Profitability Analysis and involves analyzing the profitability of products, customers, and markets within an organization. Measuring this skill in the test helps assess the candidate's knowledge of COPA functionality in SAP FICO and their capability to generate accurate profitability reports for decision-making purposes.

MTO Process: MTO stands for Make to Order and refers to a production process where products are manufactured based on customer orders. SAP FICO covers various aspects of the MTO process, including sales order management, cost estimation, and revenue recognition. Measuring this skill in the test helps evaluate the candidate's understanding of the MTO process and their ability to handle financial accounting and controlling activities related to make-to-order scenarios.

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Have questions about the SAP FICO Test (Financial Accounting & Controlling)?

What roles can I use the for?

Here are few roles for which we recommend this test:

  • Finance Specialist
  • SAP FICO Consultant
  • SAP FICO Analyst
  • SAP FI Analyst
Can I combine the SAP FICO test with other skills?

Yes, recruiters can request a custom test that includes multiple skills. Consider checking out our Accounting Assessment Test to understand how we assess core accounting skills.

How to use the SAP FICO Test in my hiring process?

Utilize the SAP FICO Test as a pre-screening tool at the beginning of your recruitment process. Add a link to the assessment in your job post or invite candidates by email. This will help you identify qualified candidates early on.

What are the main accounting tests?

We offer several tests in the accounting category:

Do you have any anti-cheating or proctoring features in place?

We have the following anti-cheating features in place:

  • Non-googleable questions
  • IP proctoring
  • Screen proctoring
  • Web proctoring
  • Webcam proctoring
  • Plagiarism detection
  • Secure browser
  • Copy paste protection

Read more about the proctoring features.

What experience level can I use this test for?

Each Adaface assessment is customized to your job description/ ideal candidate persona (our subject matter experts will pick the right questions for your assessment from our library of 10000+ questions). This assessment can be customized for any experience level.

I'm a candidate. Can I try a practice test?

No. Unfortunately, we do not support practice tests at the moment. However, you can use our sample questions for practice.

Can I get a free trial?

Yes, you can sign up for free and preview this test.

What is the SAP FICO (Financial Accounting & Controlling) Test?

The SAP FICO Test assesses a candidate's expertise in SAP Financial Accounting and Controlling modules. It is used by recruiters to evaluate knowledge in areas such as General Ledger, Cost Centers, and Accrual Engine. This is useful for hiring roles that require SAP FICO skills.

What topics are evaluated in the SAP FICO Test?

The SAP FICO Test covers General Ledger Accounting, Cost & Profit Centers, Accrual Engine, Financial Statement Versions (FSVs), Asset Under Construction (AuC), MIGO and MITO Transactions, COPA Records, and the MTO Process.

Can I test SAP FICO and general accounting skills together in a test?

Yes, you can test both SAP FICO and general accounting skills together. This combination is recommended for roles requiring comprehensive accounting knowledge. You can check our Accounting Assessment Test for more details.

Can I combine multiple skills into one custom assessment?

Yes, absolutely. Custom assessments are set up based on your job description, and will include questions on all must-have skills you specify. Here's a quick guide on how you can request a custom test.

How do I interpret test scores?

The primary thing to keep in mind is that an assessment is an elimination tool, not a selection tool. A skills assessment is optimized to help you eliminate candidates who are not technically qualified for the role, it is not optimized to help you find the best candidate for the role. So the ideal way to use an assessment is to decide a threshold score (typically 55%, we help you benchmark) and invite all candidates who score above the threshold for the next rounds of interview.

Does every candidate get the same questions?

Yes, it makes it much easier for you to compare candidates. Options for MCQ questions and the order of questions are randomized. We have anti-cheating/ proctoring features in place. In our enterprise plan, we also have the option to create multiple versions of the same assessment with questions of similar difficulty levels.

What is the cost of using this test?

You can check out our pricing plans.

I just moved to a paid plan. How can I request a custom assessment?

Here is a quick guide on how to request a custom assessment on Adaface.

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