SAP FICO Test (Financial Accounting & Controlling)

Q: What are the main accounting tests?

We offer several tests in the accounting category: Accounting Assessment Test Financial Accounting Test Financial Analyst Test

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.

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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About the

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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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 Financial Reporting Accounting	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

	🧐 Question	🔧 Skill
	Medium Audit Information Periodic Processing Audit Controls Document Posting	2 mins SAP FICO	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 Financial Reporting Accounting	2 mins SAP FICO	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	2 mins SAP FICO	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

	🧐 Question	🔧 Skill	💪 Difficulty	⌛ Time
	Audit Information Periodic Processing Audit Controls Document Posting	SAP FICO	Medium	2 mins	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.
	Impact of Exchange Rate Fluctuations Financial Accounting Asset Management Financial Reporting Accounting	SAP FICO	Easy	2 mins	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.
	Integrating Financial Statements and Asset Accounting Asset Accounting Financial Posting Integration	SAP FICO	Medium	2 mins	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

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Why you should use SAP FICO Test (Financial Accounting & Controlling)?

The SAP FICO (Financial Accounting & Controlling) Test makes use of scenario-based questions to test for on-the-job skills as opposed to theoretical knowledge, ensuring that candidates who do well on this screening test have the relavant skills. The questions are designed to covered following on-the-job aspects:

Performing General Ledger accounting tasks
Managing Cost and Profit Centers
Utilizing the Accrual Engine functionality
Creating and maintaining Financial Statement Versions (FSVs)
Handling Asset Under Construction (AuC) accounting
Executing MIGO and MITO Transactions
Managing COPA Records
Implementing Make-to-Order (MTO) Process
Analyzing Financial Statements and reports
Configuring and maintaining SAP FI modules

Once the test is sent to a candidate, the candidate receives a link in email to take the test. For each candidate, you will receive a detailed report with skills breakdown and benchmarks to shortlist the top candidates from your pool.

What topics are covered in the SAP FICO Test (Financial Accounting & Controlling)?

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.

Full list of covered topics

The actual topics of the questions in the final test will depend on your job description and requirements. However, here's a list of topics you can expect the questions for SAP FICO (Financial Accounting & Controlling) Test to be based on.

General Ledger accounting

Chart of Accounts

Account Determination

Account Groups

Document Types

Document Posting

Posting Periods

Reversing Entries

Cost & Profit Centers

Cost Center Hierarchy

Cost Center Planning

Assessment and Distribution

Internal Orders

Internal Order Planning

Internal Order Settlement

Profitability Analysis

COPA Data Structures

Characteristics Derivation

Value Fields

Accrual Engine

Accrual Posting Run

Manual Accruals

Financial Statement Versions (FSVs)

Report Header

Rows and Columns

Display Variants

Report Trees

Asset Under Construction (AuC)

AuC Creation

Capitalization of Assets

AuC Settlement

MIGO Transactions

Goods Receipt

Goods Issue

Return Delivery

MITO Transactions

Transfer Posting

Stock Transfer

Stock Transfer Order

COPA Records

Revenue Elements

Cost Elements

Characteristic Values

MTO Process

Sales Order Processing

Sales Order Costs

Billing Document Creation

Delivery Costs

What roles can I use the SAP FICO Test (Financial Accounting & Controlling) for?

Finance Specialist
SAP FICO Consultant
SAP FICO Analyst
SAP FI Analyst

How is the SAP FICO Test (Financial Accounting & Controlling) customized for senior candidates?

For intermediate/ experienced candidates, we customize the assessment questions to include advanced topics and increase the difficulty level of the questions. This might include adding questions on topics like

Applying knowledge of SAP CO modules
Utilizing SAP FICO integration with other modules
Applying knowledge of tax and regulatory requirements in accounting
Using SAP FICO for budgeting and planning
Applying principles of cost accounting
Analyzing profitability and cost allocation
Performing internal and external audits
Utilizing SAP FICO for cash flow management
Maintaining data integrity and performing reconciliations
Troubleshooting and resolving SAP FICO issues

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

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.

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.

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.

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.

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.

What are the main accounting tests?

We offer several tests in the accounting category:

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.

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

We have the following anti-cheating features in place:

Non-googleable questions
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Read more about the proctoring features.

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.

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.

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.

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.

What is the cost of using this test?

You can check out our pricing plans.

Can I get a free trial?

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

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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